Exam Flashcards by Aisley Stuebs

The specific application of marketing principles and processes to sports products, and to the marketing of non-sports products through an association with sport

Sports Marketing

How well did you know this?

Not at all

Perfectly

Origin of sport marketing and sponsorship

Ancient Olympic Games in 776 BC

How well did you know this?

Not at all

Perfectly

Roots of Sports Marketing in North America

1850-1860s (Harvard v. Yale rowing event)

How well did you know this?

Not at all

Perfectly

What was the 1st sporting event marketed and with spectators in North America?

A Harvard vs. Yale 2 mile ruling event, put on by a railroad official and local business men to produce economic profit

How well did you know this?

Not at all

Perfectly

When was the identity era where sponsorship and endorsements evolved?

1960’s

How well did you know this?

Not at all

Perfectly

When was the first naming rights of a venue?

1970’s

How well did you know this?

Not at all

Perfectly

When was the “me” decade where sports sponsorships grew in double digits?

1980’s

How well did you know this?

Not at all

Perfectly

When in sports history did sponsorship growth begin to moderate?

1990’s

How well did you know this?

Not at all

Perfectly

Three types of consumers in sports

Spectators
Participants
Sponsors

How well did you know this?

Not at all

Perfectly

Represents manufacturers of products or the organizations that perform some function in the marketing of sports products

Producers and intermediaries

How well did you know this?

Not at all

Perfectly

Examples of producers and intermediaries in sports industry?

Team owners, sanctioning bodies, agents, corporate sponsors, media and sporting good manufacturers

How well did you know this?

Not at all

Perfectly

A good, a service, or combination of the two that is designed to provide benefits to a sports spectator, participant, or sponsor

Sports product

How well did you know this?

Not at all

Perfectly

Tangible, physical products, that offer benefits to consumers

Goods

How well did you know this?

Not at all

Perfectly

Intangible, non-physical products

Services

How well did you know this?

Not at all

Perfectly

Four types of sports products?

Sporting events
Sporting goods
Sports training
Sports information

How well did you know this?

Not at all

Perfectly

The two dimensions of the multi-dimensional nature of the sports product

Goods-Services
Body-Mind

How well did you know this?

Not at all

Perfectly

A coordinated set of elements that sports organizations use to meet their marketing objectives and satisfy consumers needs

Sports Marketing Mix

How well did you know this?

Not at all

Perfectly

The four elements of the sports marketing mix

Sports Product
Price
Promotion
Distribution

How well did you know this?

Not at all

Perfectly

The integration in combination of the four marketing mix elements

Marketing Program

How well did you know this?

Not at all

Perfectly

The process of planning, implementing, and controlling marketing efforts to meet organizational goals, and satisfy consumers needs

Strategic Sports Marketing Process

How well did you know this?

Not at all

Perfectly

What are the four steps of the strategic sports marketing process?

Anticipate consumer demand (*market research AND *monitor external environment)
Segmentation
Targeting
Position

How well did you know this?

Not at all

Perfectly

Guides actions of the organization, provides framework or context for which a company strategies are formulated; *indefinite

Mission

How well did you know this?

Not at all

Perfectly

A long-term roadmap for where an organization is headed

Where does an organization plan to go?
What business does it want to be in?
What customer needs does it want to satisfy?
What capabilities are required for the future?

Vision

How well did you know this?

Not at all

Perfectly

Converts vision and mission into performance targets within a specified timeframe

Organizational objectives

How well did you know this?

Not at all

Perfectly

Growth in revenues Increase in profit margins Improved return on investments (ROI)

(Examples of) Financial objectives

Increased market share Enhanced community relations efforts Superior customer service

(Examples of) Strategic objectives

What are the two types of organizational objectives?

Financial & strategic objectives

What are smart(er) goals?

Specific Measurable Acceptable Realistic Timely Extending (stretch performer’s capabilities) Rewarding (has positive impact)

Shared values and assumptions of organizational members that shape an identity and establish preferred behaviors in an organization

Organizational culture

Limited periods of time, during which the characteristics of a market in the distinctive competencies of a firm fit together well and reduce the risks of seizing a particular market opportunity

Strategic windows

A firm’s attempt to continually acquire information on events, occurring outside the organization to identify and interpret potential trends

Environmental scan

What is the relationship between the levels of strategy? (Hint: 4 levels)

1. Corporate-level 2. Business-level 3. Functional-level (strategic mkting process) 4. Operational-level (product, promotion, pricing strategy)

Investing in a sports entity to support overall organizational objectives, marketing goals, and promotional strategies

Sponsorship

Objectives with short term impact on consumption behavior and focus on increasing sales

Direct sponsorship objectives

Other objectives that ultimately lead to the desired goal of increasing sales

Indirect sponsorship objectives

What are 5 types of indirect sponsorship objectives?

Increase awareness Meet/beat competition Reach new target markets Build relationships with consumers Build brand image (match-up hypothesis)

The four steps of the sponsorship process?

1. Planning (sponsorship objs) 2. Evaluation (sponsorship budget) 3. Execution (sponsorship acquisition) 4. Measurement (implementation & evaluation of sponsorship)

The planned effort to associate indirectly with an event (or other sports entity/product) to gain some of the recognition/benefits associated with being a sponsor, might create illusion of sponsorship; can create noise in order to confuse consumers, and make consumers think they are an official sponsor

Ambush marketing

2 types of ambush marketing?

Direct (i.e. use of IP) & Indirect (i.e. nearby signage)

Does ambush marketing work for organizations that do not want to invest in an official sponsorship?

Seemingly yes. Studies have shown that consumers cannot correctly identify the official Olympic sponsors.

What are the four approaches to sponsorship budgeting?

1. Arbitrary Allocation 2. Competitive Parity 3. Percentage of Sales 4. Objective & Task Method

Sponsorship budgeting method where you spend all you have to spend

Arbitrary allocation

Sponsorship budgeting method based on competitor spending

Competitive parity

Sponsorship budgeting method that sets a budget based on a standard percentage, applied to either some past actual or forecasted sales revenue

Percentage of sales

The most difficult sports budgeting method to implement; identifies the promotional objectives, defines the communications tools and tasks, needed to achieve objectives and adds up the costs of planned activities

Objective and task method

What’s the difference between endemic and nonendemic sponsors?

Endemic - Sponsor is highly associated with sport VS. Nonendemic - Sponsor that offers products and services that are not directly related to the production or execution of a sports activities

Sponsor that offers products and services that are not directly related to the production or execution of a sports activities; these sponsors are increasing their sports sponsorships in recent years

Nonendemic sponsor

Sponsor is highly associated with sport; sponsor sells products used in the sponsored sport

Endemic sponsor

A group of individuals (typically 4-5) within the organization responsible for sponsorship evaluation and choice

Buying center

What are the four steps of the sponsorship purchase decision?

1. Choosing the scope 2. Choosing the athletic platform (event, team, league, or athlete) 3. Choosing the particular sports entity 4. Implementation and evaluation

What are the four roles in the buying center?

1. Gatekeepers 2. Influencers 3. Decision makers 4. Purchasers

The buying center role that controls flow of information to the team and passes along relevant proposals

Gatekeepers

Buying center role that impacts the decision making process and has information about the sports entities requesting sponsorship

Influencers

Buying center role that has ultimate responsibility to choose whether to pursue a sponsorship

Decision makers

Buying center role that negotiates the contract and carries out to terms of sponsorship

Purchasers

What are the five promotional mix tools?

1. Advertising 2. Personal selling 3. Sales promotion 4. Public/Community Relations 5. Sponsorship

What are the five advertising appeals in sports?

1. Health appeals 2. Emotional appeals 3. Fear 4. Sex 5. Pleasure or Fun/Humor

Identifies/generates the ideas and the concept of the advertisement – “what is said” and “how it is said”

The creative process in advertising

3 stages of the creative process of advertising

1. Identify benefits of the sports product 2. Design ad appeals (e.g. health, emotional, fear, sex, pleasure) 3. Make ad execution decisions (e.g. comparative ads, slice of life, scientific)

What are the five types of advertising execution formats?

1. Message-sidedness (one vs. two) 2. Comparative 3. Slice of Life 4. Scientific 5. Testimonial

What are the three factors of effectiveness for sports celebrities as endorsers?

Credibility, expertise, attractiveness

The expertise and trustworthiness of the source of the message

Credibility

The knowledge, skills, or special experience possessed by the source about the sports product

Expertise

Usually associated with physical beauty, but it appears to have another non-physical dimension based on personality, lifestyle, and intellect

Attractiveness

A variety of short term, promotional activities that are designed to stimulate immediate product demand/sales

Sales promotions

What are the five types of sales promotions?

1. Premiums/Giveaways 2. Contests/Sweepstakes 3. Sampling 4. Coupons 5. Point-of-Purchase Displays (POS)

A tool used to guide the creative process toward a solution that will serve the interests of the client in their customers when designing an ad campaign. It organizes a client’s objectives, serves as a guide throughout the creative process, is typically 1-2 pages in length, and covers 6 topics

Creative brief

What are the six elements of a creative brief?

1. Client information 2. Technical specifications for deliverable materials 3. Details about the product/service 4. Brand elements 5. Stylistic preferences 6. Project timeline

What are the two elements of choosing a specific medium for advertising?

Reach and frequency

The number of people exposed to an advertisement in a given medium

Reach

The number of times the individual or household is exposed to the media vehicle

Frequency

What are the four types of media scheduling?

1. Continuous 2. Flighting 3. Pulsing 4. Seasonal

Ads run nonstop during the advertising period

Continuous

Ad expenditures are varied in some months, zero in other months

Flighting

While ad expenditures vary month-to-month, there’s always some level of advertising

Pulsing

Ads that only run during the season

Seasonal

What are the four buying influence roles of the strategic selling process?

1. Economic buyers 2. User buyers 3. Technical buyers 4. Coach

Describe the breakdown of sponsorships of the projected $15.5 billion spent by North American companies

68-72% on sports 10% on entertainment 9% on causes 4% on arts festivals, fairs, & annual events 3% on associations & membership organizations

Regarding sponsorship growth, how much was North American sponsorship spending projected to be in 2020, and how much was this an increase of since 2019?

Projected at $15.5 billion, an increase of 3.5% since 2019

- Marketers operate and unpredictable and rapidly changing environments, with many factors that are out of their control - No one marketing strategy is more effective than another - One that assumes an organization does not operate in isolation, but interacts with other systems

Contingency framework

Exam Flashcards

(80 cards)