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Marketing Principles
Question | Answer |
---|---|
The process of planning, pricing, promoting, selling and distributing products | Marketing |
Ideas, Goods and Services | Traditional Marketing Products |
Goods, Services and Entities | Sport Marketing Products |
Recognized sports televised in prime time had to be more than sport, but also entertainment | Roone Arledge |
Marketing sporting products to sport consumers | 1st Thrust |
Marketing other consumer products through sport promotions | 2nd Thrust |
Evolution of Sport Broadcasting, Product Extensions/Promotional Strategies, Growth of Sport Sponsorship and Birth of Research in Sports Marketing | 4 Historical Developments in Sports Marketing |
People have wants/needs which are satisfied with products. Marketing creates the demand for these products | The Big Picture |
Recognized the success and profitability of a franchise can not depend on the success of the team to generate capacity crownds | Bill Veeck |
People Want To Be Entertained, Promotions Must Create Conversation Afterwards, People Want A Great Atmosphere | Veecks 3 Philosophies |
The aquisition of rights to affiliate or directly associate with a product or event for the purpose of deriving benefits related to that affiliation | Sponsorship |
The earliest pioneer in sports sponsorship; 1st marketer to capitalize on the term "official" | Albert Spalding |
Started endorsement deals; Created IMG, the first sport marketing agency | Mark McCormack |
Taking endorsement deals to a new level; extremely successful packaging the brand, product, advertising, and athlete into one personality | Nike |
People identify with sports; they have a personal commitment and emotional involvement with sport organizations | Fan Identification |
Increasingly difficult for sponsors to be recognized and achieve the benefits of sponsorship | Cluttered Marketplace |
Credited with formalizing research in the sport industry | Matt Levine |
Doing something for the organization and recieving a free item | Audience Audit |
Discussion groups with 8 to 12 people with similar characteristics discussing a predetermined sports topic | Focus Group |
Interviews in heavy traffic areas such as malls; use a visual aid and the interviewee's reaction to it | Pass-By Interviews |
The controllable variables a company puts together to satisfy a target group | Marketing Mix |
Product, Price, Place, Promotion | The 4 P's of Marketing |
Choosing what to sell | Product |
What is exchanged for the product | Price |
Getting it into the customer's hands | Place |
How the customer will be told about the product | Promotion |
When an organization markets its products to every possible consumer in the marketplace | Mass Marketing |
Process if identifying subgroups of the overall marketplace base on a variety of factors | Segmentation |
A subgroup of the overall marketplace that has certain desirable traits | Target Market |
Statistics such as age, income, ethnicity, gender or educational backround | Demographic |
Statistics such as region or zip codes | Geographic |
Statistics such as preferences or behaviors...values, beliefs, lifestyle, activities, habits | Psychographic |
Popular bases for segmentation in sports | Ethnic Marketing and Generational Marketing |
Direct contact, face-to-face presentation; seller persuades buyer | Personal Selling |
One way communication; pay to promote products | Advertising |
Media exposure thats free; Desadvantage: One has no control over what is written | Publicity |
Special activities to increase sales; includes a customer incentice or gimmick | Sales Promotion |