Chapter 12 - Marketing Flashcards Preview

KRLS 105 > Chapter 12 - Marketing > Flashcards

Flashcards in Chapter 12 - Marketing Deck (27):
1

sport marketing

all activities designed to meet the needs and wants of sport consumers through exchange processes

2

elements of sport marketing

1. marketing sports products and services directly to consumers
2. marketing other consumer or industrial products and services through sport promotions

3

differences between sport marketing and traditional marketing

1. sport is intangible, subjective and experiential
2. sport involves emotion
3. sport is unique to individuals
4. sport is socially consumed
5. sport experiences and events are unpredictable
6. sport considers themselves experts
*7. sport is PERISHABLE

4

what is marketed during sports

1. products
2. services
3. entities

5

marketing mix ( 4 P's )

1. product
2. price
3. place
4. promotion

6

elements to developing a sport marketing plan ( 10 P's )

1. purpose
2. product
3. projecting the market
4. positioning
5. players
6. packaging
7. pricing
8. promotion
9. place
10. promise

7

step 1 for developing a sport marketing plan

1. identify the purpose of the sport marketing plan
2. outline goals (summary of outcome) and objectives (activities that enable competition )

8

step 2 for developing a sport marketing plan

1. analysts the sport product
- dynamic and complex nature of sport product
- dimension of the sport product
- core product
- product extension
- product life cycle

9

core product

uncertainty of game outcome

10

examples of product extension

mascots, music, concession, halftime or intermissions

11

product life cycle

1. introduction stage
2. Growth stage
3. Maturity stage
4. Decline stage

12

step 3 for developing a sport marketing plan

analyze market conditions (project the market climate)
- influence market conditions
- assessing sport climate

13

SWOT analysis

1. Strength - focuses on internal of the organization
2. Weakness - focuses on internal of the organization
ex. Managers, athletes, workers
3. Opportunities - The environmental factors to the external of the organization
4. Threats - The environmental factors to the external of the organization
ex. External stakeholders

14

step 4 for developing a marketing plan

position the sport product
- differentiating the product from completing products
- creating distinctive image of the product

15

branding

using a name, design, or symbol to differentiate a sport product

16

brand equity

the added value to a product through the brand compared to a product without the brand

17

brand loyalty

how loyal an individual is to a brand

18

step 5 fro developing a sport marketing plan

segment and target consumer groups (pick the players)
- analyzing and targeting consumers
- market segmentation (ex. demographics, media preferences, and purchasing behaviour)

19

step 6 for developing a sport marketing plan

package the sport product
- presenting the product in the best possible manner
- packaging ( tangible sport product, core product and product extension)
- licensed merchandise and sport sponsorship

20

step 7 for developing a sport marketing plan

price the sport product
- determine value
- price is the most visible and flexible element
- factors to consider when developing pricing strategies (consumer, competitor, company, and climate)

21

step 8 for developing a sport marketing plan

promote the sport product
-

22

step 8 for developing a sport marketing plan

promote the sport product
- communicating the desire image
- educating and informing target audience
- persuading target audiences to purchase

23

elements of promoting strategy

1. advertising
2. publicity
3. activity and inducements
4. public relations
5. community relations
6. media relations
7. personal selling
8. sponsorship

24

step 9 for developing a sport marketing plan

place: distribution the sport product
- product location
-distribution point of origin
- geographic location of target markets

25

step 10 for developing a sport marketing plan

evaluating the promises of the sport marketing plan
- evaluating the extent to which plan met its promise
- obtaining and analyzing feedback from internal and external source

26

market research

information needed to develop marketing plan (product, target consumers, social/economic/cultural tends, direct and indirect competitors )

27

ambush marketing

marketing activities that attempt to capitalize on the popularity of events by inferring some kind of link between the event and product