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Marketing Principles

QuestionAnswer
Marketing The process of planning, pricing, promoting, selling, and distributing products.
Traditional Marketing Combines marketing ideas, goods, and services
Goods Products grown or manufactured; tangible items
Services Intangible items involving a task
Sport Marketing Combines marketing goods, services, and entities
Entities Things like leagues, teams, and individuals
The Big Picture People have wants/needs which are satisfied with products. Marketing creates the demand for these products.
1st Thrust Marketing sporting products to sport consumers.
2nd Thrust Marketing other consumer products through sport promotions.
4 Historical Developments in Sports Marketing Evolution of Sport Broadcasting, Product Extensions/Promotional Strategies, Growth of Sport Sponsorship, Birth of Research in Sport Marketing.
Evolution of Sport Broadcasting Evolved from pure factual reporting aimed at sports fans to entertainment aimed at the masses. Roone Arledge, ABC Executive started it.
Product Extensions/Promotional Strategies Bill Veeck said the success and profitability of a franchise can't depend on the ability of the team to attract large crowds, the team should have other reasons to attract fans other than the game.
Veeck's Three Philosophies People want to be entertained, Promotions must create conversations afterward, and people want a great atmosphere.
Sponsorship the aquisition of rights to affiliate or directly associate with a product or event for the purpose of deriving benefits related to that affiliation.
Albert Spalding Early Pioneer in sport sponsorship, 1st marketer to capitalize on the term "official", official baseball of the MLB
Mark McCormack Created IMG, the first sport marketng agency, started endorsement deals
Ambush Marketing increasing business by capitalizing on the popularity of an event without becoming an "official" sponsor
Fan Identification people have a personal commitment and emotional involvement with sport organizations
Consumer Research Getting to know the costomer so you can better determine how to create demand for a product
Created by: mkeen26
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