sports m unit 3 test Flashcards

Question

outlet vs venue

Answer 1

Outlet: A place where a marketed product is released and made available or where it is placed. Venue: Is an outlet but is a place where live events are presented.

Answer 2

The maximum number of people that a venue or outlet can accommodate. ᴹᵃʳᵏᵉᵗᵉʳˢ ᵗʳʸ ᵗᵒ ᵐᵃᵗᶜʰ ᵗʰᵉ ᵉⁿᵗᵉʳᵗᵃᶦⁿᵐᵉⁿᵗ ᵉᵛᵉⁿᵗ ʷᶦᵗʰ ᵗʰᵉ ᵃᵖᵖʳᵒᵖʳᶦᵃᵗᵉ ᵛᵉⁿᵘᵉ.ˢᶦᶻᵉ, ˡᵒᶜᵃᵗᶦᵒⁿ, ᵖᵒᵖᵘˡᵃᵗᶦᵒⁿ

Answer 3

𝗕𝗿𝗮𝗻𝗱: A name, word or words, symbol, or design that **identifies** an organization and its products. 𝗕𝗿𝗮𝗻𝗱 𝗡𝗮𝗺𝗲: A word or words, letters, or numbers representing a brand. 𝗧𝗿𝗮𝗱𝗲𝗺𝗮𝗿𝗸: (to protect a brand!) A device that legally identifies ownership of a registered brand or trade name. ˢᵖᵒʳᵗˢ ᵃⁿᵈ ᵉⁿᵗᵉʳᵗᵃᶦⁿᵐᵉⁿᵗ ᵒʳᵍᵃⁿᶦᶻᵃᵗᶦᵒⁿˢ ᵃⁿᵈ ᶜᵒᵐᵖᵃⁿᶦᵉˢ ˢᵗʳᶦᵛᵉ ᵗᵒ ᵈᵉᵛᵉˡᵒᵖ ˢᵗʳᵒⁿᵍ ᵇʳᵃⁿᵈˢ ᵗᵒ ᵈᶦᶠᶠᵉʳᵉⁿᵗᶦᵃᵗᵉ ᵗʰᵉᵐˢᵉˡᵛᵉˢ ᶠʳᵒᵐ ᵒⁿᵉ ᵃⁿᵒᵗʰᵉʳ. ᵂʰᵉⁿ ᵃ ᵇʳᵃⁿᵈ ⁿᵃᵐᵉ ᵒʳ ᵗʳᵃᵈᵉ ⁿᵃᵐᵉ ᶦˢ ʳᵉᵍᶦˢᵗᵉʳᵉᵈ, ᶦᵗ ᵃˡˢᵒ ᵇᵉᶜᵒᵐᵉˢ ᵃ ᵗʳᵃᵈᵉᵐᵃʳᵏ. ᴺᶦᵏᵉ⁻ᵇʳᵃⁿᵈ ⁿᵃᵐᵉ. ˢʷᵒᵒˢʰ⁻ ᵃ ˢʸᵐᵇᵒˡ/ˡᵒᵍᵒ ⁽ᵖᵃʳᵗ ᵒᶠ ᵃ ᵇʳᵃⁿᵈ⁾..ᵇʳᵃⁿᵈ ᶦˢ ᵗʰᵉ ˡᵒᵍᵒ ᵃⁿᵈ ⁿᵃᵐᵉ

Answer 4

𝗧𝗵𝗲 𝘃𝗮𝗹𝘂𝗲 𝗮 𝗯𝗿𝗮𝗻𝗱 𝗵𝗮𝘀 𝗯𝗲𝘆𝗼𝗻𝗱 𝗶𝘁𝘀 𝗮𝗰𝘁𝘂𝗮𝗹 𝗳𝘂𝗻𝗰𝘁𝗶𝗼𝗻𝗮𝗹 𝗯𝗲𝗻𝗲𝗳𝗶𝘁𝘀. 𝑩𝒓𝒂𝒏𝒅 𝒆𝒒𝒖𝒊𝒕𝒚 𝒉𝒂𝒔 𝒇𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝒗𝒂𝒍𝒖𝒆 𝒕𝒉𝒓𝒐𝒖𝒈𝒉 𝒍𝒊𝒄𝒆𝒏𝒔𝒊𝒏𝒈 ⁽ˡᶦᶜᵉⁿˢᶦⁿᵍ ᶦˢ ʷʰᵉⁿ ˢᵒᵐᵉᵒⁿᵉ ʷᵃⁿᵗˢ ᵗᵒ ᵖᵃʸ ᵃ ᶠᵉᵉ ᵗᵒ ᵘˢᵉ ᵗʰᵉ ˡᵒᵍᵒ ᵃⁿᵈ ⁿᵃᵐᵉ ᵗᵒ ᵐᵃᵏᵉ ˢᵗᵘᶠᶠ ⁽ʷᶦⁿᶜʳᵃᶠᵗ ᵖᵒˢᵗᵉʳ ᵐᵃᵏᵉʳˢ ᵖᵃᶦᵈ ʳᵃᵖᵗᵒʳˢ/ % ᵃᵐᵒᵘⁿᵗ ᵒᶠ ˢᵃˡᵉˢ $ ᵗᵒ ᵖᵘᵗ ᵗʰᵉ ᵇʳᵃⁿᵈ ᵒⁿ ᵗʰᵉᶦʳ ᵖᵒˢᵗᵉʳˢ⁾..ᶜᵒᶜᵃ ᶜᵒˡᵃ ᵉˣᵗᵉⁿᵈᵉᵈ ᵖʳᵒᵈᵘᶜᵗˢ..⁽ᵘʳ ᶜᵒᶜᵃ ᶜᵒˡᵃ ʷᵃˡˡᵉᵗᵎ⁾ Customers are generally willing to pay a higher price for products with brand equity.

Answer 5

1.𝗗𝗲𝘃𝗲𝗹𝗼𝗽 the brand in the customer’s mind as part of a class of products. 𝗘.𝗴. 𝗚𝗮𝘁𝗼𝗿𝗮𝗱𝗲 𝗶𝘀 𝗮 𝘀𝗽𝗼𝗿𝘁𝘀 𝗱𝗿𝗶𝗻𝗸 ⁽ᵉᵈᵘᶜᵃᵗᵉ ᶜᵒⁿˢᵘᵐᵉʳˢ ᵐᶦⁿᵈ ᵃᵇ ʷʰᵃᵗ ᶦᵗ ᶦˢ..ᵇʳᵃⁿᵈˢ⁽ᵐᶜᵈᵒⁿᵃˡᵈˢ⁾ ˢᵖᵉⁿᵗ ᵈᵉᶜᵃᵈᵉˢ ᵗᵒ ᵈᵉᵛᵉˡᵒᵖ ʷʰᵃᵗ ᵗʰᵉ ᵇʳᵃⁿᵈ ᶦˢ ᶦⁿ ᵘʳ ᵐᶦⁿᵈ⁾ 2. 𝗟𝗶𝗻𝗸 the product’s brand 𝗻𝗮𝗺𝗲 𝘁𝗼 𝗶𝘁𝘀 𝗳𝘂𝗻𝗰𝘁𝗶𝗼𝗻 and make some type of 𝗲𝗺𝗼𝘁𝗶𝗼𝗻𝗮𝗹 connection with the product. 𝗘.𝗴. 𝗚𝗮𝘁𝗼𝗿𝗮𝗱𝗲 𝗵𝗲𝗹𝗽𝘀 𝗮𝘁𝗵𝗹𝗲𝘁𝗲𝘀 𝘁𝗼 𝗽𝗲𝗿𝗳𝗼𝗿𝗺 𝗯𝗲𝘁𝘁𝗲𝗿 𝗶𝗻 𝗮𝘁𝗵𝗹𝗲𝘁𝗶𝗰 𝗲𝘃𝗲𝗻𝘁𝘀 ᵈᵉᵛᵉˡᵖ ᶦⁿ ᵗʰᵉᶦʳ ᵐᶦⁿᵈ ᵗʰᵃᵗ ᶦᶠ ᵘ ᵈʳᶦⁿᵏ ᵃ ᵍʳᵃᵗᵒʳᵃᵈᵉ ʷᶦˡˡ ʰᵉˡᵖ ᵘ ᵖᵉʳᶠᵒʳᵐ ᵇᵉᵗᵗᵉʳ…ᶦⁿ ᵘʳ ᵐᶦⁿᵈ ᵗʰᵉʸᵛᵉ ˡᶦⁿᵏᵉᵈ ᵗʰᵃᵗ ᵗʰᶦˢ ᶦˢ ᵗʰᵉ ᵇᵉˢᵗ ᵖʳᵒᵈᵘᶜᵗ⁾ 3.𝗛𝗲𝗹𝗽 consumers think and feel the way you want them to regarding your product. 𝗘.𝗴. 𝗚𝗮𝘁𝗼𝗿𝗮𝗱𝗲 𝗶𝘀 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝗼𝗳 𝗰𝗵𝗼𝗶𝗰𝗲 𝗳𝗼𝗿 𝘀𝘂𝗰𝗰𝗲𝘀𝘀𝗳𝘂𝗹 𝗮𝘁𝗵𝗹𝗲𝘁𝗲𝘀. ⁽ʷʰᵉⁿ ᵘ ˢᵉᵉ ˡᵉᵇʳᵒⁿ ʲᵃᵐᵉˢ ᵈʳᶦⁿᵏ ᵍᵗᵒʳᵃᵈᵉ ᵘ ʷᶦˡˡ ʷᵃⁿᵗ ᵗᵒ ᵇᵉ ˡᶦᵏᵉ ʰᶦᵐ⁾..ᵗʰᵉʳᵉˢ ˢᵖᵒⁿˢᵒʳˢʰᶦᵖˢ ᵗʰᵗᵃ ᵒⁿˡʸ ᵒⁿ ᵗʰᵉ ˢᶦᵈᵉˡᶦⁿᵉˢ ᵍᵃᵗᵒʳᵃᵈᵉˢ ᵃʳᵉ ᵃˡˡᵒʷᵉᵈ ˢᵒ ʷᵃᵗᶜʰᵉʳˢ ᵗʰᶦⁿᵏ ᵉᵛᵉʳʸᵒⁿᵉ ᵈʳᶦⁿᵏˢ ᶦᵗ⁾

Answer 6

𝗠𝗔𝗡𝗨𝗙𝗔𝗖𝗧𝗨𝗥𝗘𝗥 𝗕𝗥𝗔𝗡𝗗𝗦: 𝗔 𝗯𝗿𝗮𝗻𝗱 𝗼𝘄𝗻𝗲𝗱 𝗯𝘆 𝘁𝗵𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝗲𝗿 𝗼𝗳 𝘁𝗵𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝘁. 𝗔. 𝗠𝘂𝗹𝘁𝗶-𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗕𝗿𝗮𝗻𝗱𝗶𝗻𝗴👟 Used when the manufacturer uses one name for all its products. ⁽ᵉˣ. ᴺᶦᵏᵉᵎᵎᴱᵛᵉʳʸᵗʰᶦⁿᵍ ᶦˢ ᴺᶦᵏᵉ, ᵒⁿᵉ ᶦᵐᵃᵍᵉ ᶠᵒʳ ᵉᵛᵉʳʸᵗʰᶦⁿᵍᵎᵎ⁾ 𝗕. 𝗠𝘂𝗹𝘁𝗶-𝗕𝗿𝗮𝗻𝗱𝗶𝗻𝗴🍼🧴🧻 Each product in a product line has a distinctive name. An advantage is that each product has its own distinct image. One disadvantage is the cost. ⁽ᵉᵃᶜʰ ᵖʳᵒᵈᵘᶜᵗ ˡᶦⁿᵉ ʰᵃˢ ᵒʷⁿ ᵐᵃʳᵏᵉᵗᶦⁿᵍ ᵒʷⁿ ᵉᵐᵖˡᵒʸᵉᵉˢ⁾ ⁽ᵉˣ. ᴾ&ᴳ ..ⁿᵉᵛᵉʳ ᵃᶜᵗᵘᵃˡˡʸ ˢᵃʷ ᵗʰᵉ ⁿᵃᵐᵉ ᵖʳᵒᶜᵗᵉʳ ᵃⁿᵈ ᵍᵃᵐᵇˡᵉ⁻⁻⁻> ᵗᶦᵈᵉ, ᵖᵃᵐᵖᵉʳˢ, ᵍᶦˡˡᵉᵗᵗᵉ ⁽ᵃˡˡ ᵖʳᵒᵈᵘᶜᵗ ˡᶦⁿᵉˢ ᵘⁿᶦᵠᵘᵉ ⁿᵃᵐᵉ⁾⁾ ᴬᵈᵛᵃⁿᵗᵃᵍᵉ ᶦˢ ᶦᶠ ᵒⁿᵉ ᵍᵉᵗˢ ʰᵘʳᵗ…ᵉˣ. ᴳᶦˡˡᵉᵗᵗᵉ ᵗᵒˣᶦᶜ…ᵐᵒˢᵗ ᵖᵖˡ ᵈᵒⁿᵗ ᵏⁿᵒʷ ᵖ&ᴳ ᵐᵃᵈᵉ ᶦᵗ ⁽ᶦᵗˢ ˢᵉᵖᵃʳᵃᵗᵉ ᵇʳᵃⁿᵈ⁾ ˢᵒ ᵗʰᵉʸ'ˡˡ ˢᵗᶦˡˡ ᵇᵘʸ ᵗʰᵉ ᵒᵗʰᵉʳ ᵖʳᵒᵈᵘᶜᵗˢ…ʳᵉᵖᵘᵗᵃᵗᶦᵒⁿ ᵒᶠ ᵒᵗʰᵉʳ ᵖʳᵒᵈᵘᶜᵗ ᵏᵉᵖᵗ. 𝗖. 𝗖𝗼-𝗕𝗿𝗮𝗻𝗱𝗶𝗻𝗴💳✈ Combines one or more brands to increase customer loyalty and sales for each product. https://www.youtube.com/watch?v=nuvisHAlJzo ᵀʷᵒ ᵇʳᵃⁿᵈˢ ᶜᵒᵐᶦⁿᵍ ᵗᵒᵍᵉᵗʰᵉʳᵎ ᴬᵐᵉʳᶦᶜᵃⁿ ᵉˣᵖʳᵉˢˢ ᶜᵒᵐᵇᶦⁿᵉᵈ ʷ ᵃᶦʳᵐᶦˡᵉˢ …ᶜᵒ ᵇʳᵃⁿᵈᶦⁿᵍ ⁽ᵗᶦᵐ ʰᵒʳᵗᵒⁿˢ ᵛᶦˢᵃ..ᵃᵐᵃᶻᵒⁿ ᵛᶦˢᵃ..ᵖᶦᶻᶻᵃ ᵖᶦᶻᶻᵃ ᶜᵒᵇʳᵃⁿᵈˢ ʷ ˢᶦˡᵛᵉʳ ᶜᶦᵗʸ ᶠʳᵉᵉ ᵗᶦᶜᵏᵉᵗˢ⁾..ᵐᶜᵈᵒⁿᵃˡᵈˢ ʷ ʳᵃᵖᵗᵒʳˢ

Answer 7

. INTERMEDIARY BRANDS (E.g. Costco - Kirkland products) Carries a name developed by the wholesalers. Intermediaries contract with manufacturers to make products that are sold under their own private labels. . GENERIC BRANDS Represents a general product category and does not carry a company or brand name. ⁽ⁿᵒⁿᵃᵐᵉ ᵇʳᵃⁿᵈ⁻⁻⁻ᵍᵉⁿᵉʳᶦᶜ ᵇᶜ ᵇᵉˡᵒⁿᵍˢ ᵗᵒ ᴺᵒᶠʳᶦˡˢˢ “ˡᶦᶠᵉ” ᶦˢ ˢʰᵒᵖᵖᵉʳˢ’ ᵍᵉⁿᵉʳᶦᶜ ᵇʳᵃⁿᵈ ᶜʰᵉᵃᵖᵉʳ ᵇᶜ ˢʰᵒᵖᵖᵉʳˢ ᵒʷⁿ ᶦᵗ ˢᵒ ᶦᵗ'ˢ ᶜʰᵉᵃᵖᵉʳ, ᴶᵘˢᵗ ᵇᶜ ᶦᵗ’ˢ ᶜʰᵉᵃᵖᵉʳ ⁿᵒᵗ ˡᵉˢˢ ᵉᶠᶠᵉᶜᵗᶦᵛᵉ ᵇᵘᵗ ᵗʰᵃᵗ’ˢ ᵗʰᵉ ᵖᵒʷᵉʳ ᵒᶠ ᵇʳᵃⁿᵈᶦⁿᵍ..ʸᵒᵘ'ᵈ ʳᵃᵗʰᵉʳ ᵍᵉᵗ ᵗʸˡᵉⁿᵒˡ/ᵇᵉⁿᵃᵈʳʸˡ, ᵗʰᵃⁿ “ˡᶦᶠᵉ” ᶜᵒᵘᵍʰ ˢʸʳᵘᵖ….ᶜʰᵉᶜᵏ ᵗʰᵉ ᵇᵃᶜᵏ ᵗʰᵉ ᶦⁿᵍʳᵉᵈᶦᵉⁿᵗˢ ᵂᵃˡᵐᵃʳᵗ ᵇʳᵃⁿᵈ⁻⁻”ᵍʳᵉᵃᵗ ᵛᵃˡᵘᵉ”..”ᵍᵉᵒʳᵍᵉ” ᶜᵃⁿᵃᵈᶦᵃⁿ ᵗᶦʳᵉ ᵇʳᵃⁿᵈ “ᶠʳᵃⁿᵏˢ”⁻⁻ᵖᵒᵗᵃᵗᵒ ᶜʰᶦᵖˢ.ᵐᵒᵗᵒʳ ᵒᶦˡ.

Answer 8

**Offer** a **benefit** ✔E.g. Gatorade Be **simple** ✔Nike, Adidas Be **different** and positive ✔Puma – positive association with a fast animal Reflect an **image** ✔Wheaties (michael phelps) Be previously unregistered (make sure noone has ur trademark) Make it **last**(nike logo costed 35 dollars originally) ✔Nike was created in 1971 for $35

Answer 9

The process of systematically collecting, recording, analyzing, and presenting (crap) data related to marketing goods and services. a way for companies to get to know their customers. Video: https://www.youtubeeducation.com/watch?v=H4WdD1hYBVI

Answer 10

Demographic characteristics : Age Income Occupation Gender Ethnicity Education Marital status Geographic location Lifestyle choices Psychographics: Studies of consumers based on their attitudes, interests, and opinions. How consumers think

Answer 11

1.IDENTIFY THE **PROBLEM**/ISSUE☝ E.g. What can we do to improve the image of our hockey stick or cellular phone to stand out from all the rest on the market? How can we increase sales of our product? 2.CONDUCT **SECONDARY** RESEARCH🥈 🐹Is published data that has been collected for some other purpose (secondary data). 🐹Internal data from a company like sales reports, returns, complaints. 🐹External sources like the Internet, books, magazines or companies who specialize in market research. Secondary research is 𝗮𝗹𝘄𝗮𝘆𝘀 done before primary research. 3. SELECT AND DESIGN **PRIMARY** RESEARCH⚖ Primary research: 🐻Original research conducted for a specific marketing situation 🐻The information collected from primary research is called primary data. 𝑷𝒓𝒊𝒎𝒂𝒓𝒚 𝑫𝒂𝒕𝒂:(give examples) Information collected from primary or original research used specifically for an issue under study. 3. collect **DATA** (3 𝒘𝒂𝒚𝒔!!) 𝗮)𝗖𝗲𝗻𝘀𝘂𝘀 (A study that counts everyone in the research population.) 𝗯) 𝗦𝗮𝗺𝗽𝗹𝗲: When a census is not possible. (A number of people who are representative of a study’s population) 𝗰)𝗗𝗮𝘁𝗮 𝗺𝗶𝗻𝗶𝗻𝗴: data from existing databases and looking for relationships 5) **REPORT AND ANALYZE**

Answer 12

Data that measure qualities such as people’s reactions or perceptions. Can draw inferences or interpretation from the facts. 🐤Data from qualitative research is not based on numerical information. 🐤However, it can be expressed using numbers. 🐤E.g. 3 out of 4 people on the ride thought it was exciting.

Answer 13

Data expressed as amount in numbers. Data can be reported with analysis and interpretation.` 🐦Data from quantitative research is based on numerical information. 🐦E.g. Number of people who went on the ride.

Answer 14

Reporting Qualitative-Research Data 🐥Reported in paragraph format. 🐥Cannot draw conclusions just inferences or interpretation from the facts. 🐥Provides insight into a problem. 🐦Reporting Quantitative-Research Data Data can be reported in graphs/charts with analysis and interpretation written in accompanying paragraphs and text.

Answer 15

(𝘁𝗲𝘀𝘁𝗶𝗻𝗴 𝗰𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗿𝗲𝗮𝗰𝘁𝗶𝗼𝗻) 𝗱𝗲𝘁𝗲𝗿𝗺𝗶𝗻𝗲𝘀 𝗶𝗳 𝗮 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 𝘄𝗶𝗹𝗹 𝘀𝗲𝗹𝗹. ᴵⁿᶠᵒʳᵐᵃᵗᶦᵒⁿ ᴬᵈᵛᵃⁿᵗᵃᵍᵉ: ᶠᶦⁿᵈᶦⁿᵍ ᵒᵘᵗ ʰᵒʷ ᵃⁿ ᵃᵘᵈᶦᵉⁿᶜᵉ ᵐᵉᵐᵇᵉʳ, ᵍᵃᵐᵉ ᵖˡᵃʸᵉʳ, ᵐᵘˢᶦᶜ ᶠᵃⁿ, ᵒʳ ʳᵉᵃᵈᵉʳ ʷᶦˡˡ ʳᵉᵃᶜᵗ ᵗᵒ ᵃ ᵖʳᵒᵈᵘᶜᵗ ᵇᵉᶠᵒʳᵉ ᶦᵗˢ ʳᵉˡᵉᵃˢᵉ ᶦˢ ᵛᶦᵗᵃˡ ᵗᵒ ᵉⁿᵗᵉʳᵗᵃᶦⁿᵐᵉⁿᵗ ᶜᵒᵐᵖᵃⁿᶦᵉˢ ᵃⁿᵈ ᵐᵃʳᵏᵉᵗᶦⁿᵍ ᵖʳᵒᶠᵉˢˢᶦᵒⁿᵃˡˢ

Answer 16

1)Personal and interactive 𝗶𝗻𝘁𝗲𝗿𝘃𝗶𝗲𝘄𝘀 -Respondents(A consumer who participates in a personal interactive interviews and other research methods.) 2) 𝗙𝗼𝗰𝘂𝘀 𝗴𝗿𝗼𝘂𝗽𝘀 3)𝗢𝗻𝗹𝗶𝗻𝗲 𝗳𝗼𝗰𝘂𝘀 𝗴𝗿𝗼𝘂𝗽𝘀 4)𝗠𝗮𝗹𝗹 𝗶𝗻𝘁𝗲𝗿𝗰𝗲𝗽𝘁𝘀- No screening of people which can lead to bias.(Mall Intercept: A market research interview conducted in a public place, such as a mall.) 5)𝗦𝘂𝗿𝘃𝗲𝘆𝘀 -🦉---A questionnaire or series of questions designed to collect specific information. -🦉---Difficult to get completed. -🦉---Prepaid postage; offer incentives. 6)𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗧𝗲𝘀𝘁𝗶𝗻𝗴 Assessment of a product by designers or customers to see if it works, meets industry standards for safety, and is user-friendly.

Answer 17

1) Surveys📊 Converted into statistical information. 2) Observational research👁 Contrived settings are set up and prearranged and are created in a research facility where client products are tested along with a sample of other products chosen by the researcher. The respondents are observed through a one-way mirror or a camera. - Traffic count 3) Mystery Shoppers🕵(A market researcher who poses as a shopper to observe how consumers and retailers behave in a shopping situation.) 4) Ethnography 🙊🙉 the study of social and cultural behavior and habits. E.g. If researchers were interested in the music/beverage of urban 21-30 year old men/women, they might visit a nightclub.)

Answer 18

Statistics: 📊 A collection of numerical data that can be compared, analyzed, and interpreted. Observational Research: 👁 A method of collecting data by observing respondents in contrived or natural settings. Traffic Count: 🚦 A measure of how many people stop or do not stop to look at an ad or store display.

Answer 19

🐞Marketers use screening rooms to show consumers previews and to collect data on audience preferences. 🐞Screening rooms can be like mini movie theaters and can have real-time behaviour response remote control devices.

Answer 20

ʕ•ᴥ•ʔ 1 video, 2 diagrams , 1 mini quiz !( I think its a check list of terms 😅)

Answer 21

🦸Licensing: An agreement which gives a company the right to use another’s brand name, patent, or other intellectual property for a royalty or fee. ᶜᵒᵐᵖᵃⁿᶦᵉˢ ˡᵉᵗ ᵐᶦⁿᶦˢᵒ ᵖᵘᵗ ᵗʰᵉᶦʳ ᶜʰᵃʳᵃᶜᵗᵉʳˢ ᵒⁿ ᵗʰᵉᶦʳ ˢᵗᵘᶠᶠ :> . ˢᵗᶦᶜᵏᵉʳ ᶜᵒᵐᵖᵃⁿʸ ᶜᵒᵐᵉˢ ᵗᵒ ⁿᶦⁿᵗᵉⁿᵈᵒ ᵃⁿᵈ ᵃˢᵏᵉᵈ ᶠᵒʳ ᵐᵃʳᶦᵒ ᶦᵐᵃᵍᵉ, ⁿᶦⁿᵗᵉⁿᵈᵒ ˢᵃᶦᵈ ʸᵉˢ ᵇᵘᵗ ᵖᵃʸ ᵘˢ…ᵖᵉᵃᶜᵉ ᶜᵒˡˡᵉᶜᵗᶦᵛᵉˀˀ⁾ 🦸The **licensor** is the company or individual granting the license. 🦸The **licensee** is the company or individual paying for the rights to use the licensor’s name or property. ᴸᶦᶜᵉⁿˢᵉᵉ ⁻ ⁿᶦᵏᵉ ᶠᵒʳ ʲᵉʳˢᵉʸˢ ˡᶦᶜᵉⁿˢᵒʳ⁻ʳᵃᵖᵗᵒʳˢ ˡᵉᵗ ⁿᶦᵏᵉ ᵖᵘᵗ ᵗʰᵉᶦʳ ˡᵒᵍᵒ ˢᵒⁿʸ ᵖᵘʳᶜʰᵃˢᵉᵈ ˡᶦᶜᵉⁿˢᵉ ᵗᵒ ᵐᵃᵏᵉ ˢᵖᶦᵈᵉʳᵐᵃⁿ ᵐᵒᵛᶦᵉˢ….ˢᵒⁿʸ ᶦˢ ˡᶦᶜᵉⁿˢᵒʳ ᶠᵒʳ ˢᵖᶦᵈᵉʳᵐᵃⁿ. ᴸᶦᶜᵉⁿˢᶦⁿᵍ ᵃⁿᵈ ʳᵒʸᵃˡᵗᶦᵉˢ ᵃʳᵉ ᵐᵃʲᵒʳ ᵃˢᵖᵉᶜᵗˢ ᵒᶠ ᵇᵒᵗʰ ᵗʰᵉ ˢᵖᵒʳᵗˢ ᵃⁿᵈ ᵉⁿᵗᵉʳᵗᵃᶦⁿᵐᵉⁿᵗ ᶦⁿᵈᵘˢᵗʳʸ. ᴱⁿᵗᵉʳᵗᵃᶦⁿᵐᵉⁿᵗ ᵃⁿᵈ ˢᵖᵒʳᵗˢ ʳᵉˡᵃᵗᵉᵈ ᶜᵒᵐᵖᵃⁿᶦᵉˢ ᵘᵗᶦˡᶦᶻᵉ ᵐᵉʳᶜʰᵃⁿᵈᶦˢᶦⁿᵍ ᵃⁿᵈ ˢᵉˡˡ ˡᶦᶜᵉⁿˢᵉᵈ ᵖʳᵒᵈᵘᶜᵗˢ. Licensed Products: Goods or services that legally use logos or images owned by other companies or people. (Funko pays a royalty/licensing fee to Sony to be able to use the Spider man image)

Answer 22

🎹Licensing applies to music, software, motion pictures, and videos/DVDs. 🥁A songwriter and publisher of a song may charge a licensing fee when an artist and label want to record that song. 🎷Artists, writers, and publishers receive royalties, or a percentage of record sales or fees for broadcast performances. 🎻Top artists may receive up to 15% of CD/online sales! (most artists lower percents..mo popular u are mo money u can demand) 🎼In the past mo ppl paid for music (ppl bought albums!! Now on spotify) --now they make main money from concerts endorsements ᴿᵉᵐᵃᵏᵉ ᵍᵘʸ ʰᵃᵈ ᵗᵒ ᵖᵃʸ ᵗʳᵃᶜʸ ᶜʰᵃᵖᵐᵃⁿ ᵃⁿᵈ ᵖᵖˡ ʷʰᵒ ᵒʷⁿ ᶦᵗ ˢᵒ ʰᵉ ᶜᵒᵘˡᵈ ˢᵃᵐᵖˡᵉ ʰᵉʳ ˢᵒⁿᵍ..ˢʰᵉ ʳᵉᶜᵉᶦᵛᵉᵈ ᵃ ˡᵒᵗ ᵒᶠ $

Answer 23

**Sports ent /org/licensor:** Reinforce image Build team spirit **Companies/licensee** Profit Build presence through merchandise Reach a new audience **Mutual advantages:** Publicity Revenue Brand awareness

Answer 24

An endorsement is a statement of approval of a product, service, or idea made by an individual or organization speaking on behalf of the advertiser. Involves using a celebrity or public figure to represent and promote a company and that company’s products👍

Answer 25

**Association**💎 With a successful athlete/actor/singer will help sell a product. **Image**📷 *Positive *Role models in the public eye **Demographic match** (target market) African-American/Canadian or a woman athlete. **Successful careers**😎 Connor McDavid, Lebron James, Bianca Andreescu

Answer 26

Increase **sales**💸 Increasing brand **awareness** Generate **positive** image😃

Answer 27

All activities associated with the sale, distribution, and promotion of a sports/entertainment event. (a Toronto Raptor basketball game or a Drake concert at Scotiabank Arena) ˢᵒᵐᵉ ᵉˣᵃᵐᵖˡᵉˢ ᵒᶠ ᵉᵛᵉⁿᵗˢ ᵗʰᵃᵗ ʸᵒᵘ ᵐᵃʸ ʳᵉˡᵃᵗᵉ ᵗᵒ ᵃᵗ ˢᶜʰᵒᵒˡ: ᴾʳᵒᵐ, ᵖᵃʳᵗʸ, ᴬᵗʰˡᵉᵗᶦᶜ ᴮᵃⁿᵠᵘᵉᵗ, ᴰʳᵃᵐᵃ ᵖˡᵃʸ. ᴰᵉᵛᵉˡᵒᵖᶦⁿᵍ ᵃⁿ ᵉᶠᶠᵉᶜᵗᶦᵛᵉ ᵖʳᵒᵐᵒᵗᶦᵒⁿᵃˡ ᵐᶦˣ ᵃⁿᵈ ᶜᵒʳʳᵉˢᵖᵒⁿᵈᶦⁿᵍ ᵇᵘᵈᵍᵉᵗ ʳᵉᵠᵘᶦʳᵉˢ ᵃⁿ ᵘⁿᵈᵉʳˢᵗᵃⁿᵈᶦⁿᵍ ᵒᶠ ᵉᵛᵉⁿᵗ ᵐᵃʳᵏᵉᵗᶦⁿᵍ ᵃⁿᵈ ᵗʸᵖᵉˢ ᵒᶠ ᵖʳᵒᵐᵒᵗᶦᵒⁿˢ.

Answer 28

Generate **sales**💸 Attract a targeted **audience** Help create a **positive** image😃

Answer 29

advertising, sales promotion, publicity, and personal selling (Product price place promotion is diff than promotional mix! Exam-specific case study of promotional mix or marketing mix don’t mix them up!!!!!!!!!!!!!!!!!!!!!!!!!)

Answer 30

**Percentage of sales**(◍*ᴗ*◍)❤ Sports organizations may use a set percentage or portion of last year’s sales or the coming year’s sales to decide on the funds. **Objective-and-task method**(＾〰＾)/ Companies set objectives for their promotion and decide what promotional activities are necessary to reach those objectives. **Competitive parity**ᕦ(ò_óˇ)ᕤ A company looks for industry trends or studies its competitors promotion to determine how much to spend.

Answer 31

Broadcast,Online, Print , Direct marketing, (on test!!)

Answer 32

Any paid promotion of an idea, good, or service.

Answer 33

Since a company pays for advertising, it has control over the message it wants to deliver. Unpaid promotion is considered free publicity.

Answer 34

Advertising rates usually depend on the circulation, or size of the audience that will be exposed to the ad.

Answer 35

**Promotional advertising** Advertising with a goal of selling an item being promoted. ⁽ˢᶦᵐᵒⁿᵉᵗᵗᶦ: “ᵀʰᶦˢ ᶦˢ ᵃᵗ ᵗʰᵉ ˢᶜᵒᵗᶦᵃᵇᵃⁿᵏ ᴬʳᵉⁿᵃ. ᴵ ʷᵃˢ ᵗʳʸᶦⁿᵍ ᵗᵒ ʷᵃˢʰ ᵐʸ ʰᵃⁿᵈˢ ᶦⁿ ᵗʰᵉ ᴹᵉⁿ’ˢ ᵂᵃˢʰʳᵒᵒᵐ ᵃⁿᵈ ᴵ ˢᵉᵉ ᵃ ᴾʳᵒᵐᵒᵗᶦᵒⁿᵃˡ ᴬᵈ ᶠᵒʳ ᴺᶦᵛᵉᵃ ᶠᵒʳ ᴹᵉⁿᵎ”⁾. ᶜᵃˡˡ ᵒᶠ ᵈᵘᵗʸ ᵃᵈ ᵖʳᵉᵒʳᵈᵉʳ ⁿᵒʷ,ᵍᵒᵃˡ ᶦˢ ᵗᵒ ˢᵉˡˡ ᵃⁿᵈ ᶦᵗᵉᵐᵎᵎᵎ..ᵐᵒᵛᶦᵉ ᵗʳᵃᶦˡᵉʳ **Institutional Advertising** Advertising with a goal of developing goodwill or positive image. ᴬᵗ ᵗʰᵉ ᵉⁿᵈ ᵒᶠ ᵗʰᵉ ᵀᵒʳᵒⁿᵗᵒ ᴮˡᵘᵉ ᴶᵃʸˢ/ ᴿᵃᵖᵗᵒʳˢ/ᴹᵃᵖˡᵉ ᴸᵉᵃᶠˢ ʳᵉᵍᵘˡᵃʳ ˢᵉᵃˢᵒⁿ ʸᵒᵘ ᵐᶦᵍʰᵗ ˢᵉᵉ ᵃⁿ ᵃᵈ ᶦⁿ ᵗʰᵉ ⁿᵉʷˢᵖᵃᵖᵉʳ “ᵀʰᵃⁿᵏᶦⁿᵍ” ᵗʰᵉ ᶠᵃⁿˢ…….“ᴳᵒᵗ ᴹᶦˡᵏ” ᵃᵈˢ ʷᶦᵗʰ ᶜᵉˡᵉᵇʳᶦᵗᶦᵉˢ…ˢᵖʳᵉᵃᵈ ᵍᵒᵒᵈʷᶦˡˡ ⁿᵒᵗ ˢᵗʳᵃᶦᵍʰᵗ ᵘᵖ ᵖʳᵒᵐᵒᵗᶦⁿᵍ ˡᵃᶜᵗᵃⁿᶜᶦᵃ ᵇʳᵃⁿᵈ…ᵀᶦᵐʰᵒʳᵗᵒⁿˢ ᵃᵈ ʷᵃⁿᵗ ᵘ ᵗᵒ ᵃˢˢᵒᶜᶦᵃᵗᵉ ʰᵒᶜᵏᵉʸ ʷ ᵗᶦᵐᵐᶦᵉˢ, ˢᶦᵐᵒⁿᵉᵗᵗᶦ ˢᵃʷ ᵖᵃʳᵉⁿᵗˢ ᵃᵗ ʰᵒᶜᵏᵉʸ ʳᶦⁿᵏ ʷ ᵗᶦᵐˢ ˢᵒ ᶦⁿ ᵘʳ ᵇʳᵃᶦⁿ ᶦᵗ’ˢ ʰᵒᶜᵏᵉʸ⁻>ᵗᶦᵐᵐᶦᵉˢ. ᴬᵈ ʷʰᵉʳᵉ ʷᵃʸⁿᵉ ᵍʳᵉᵗᶻᵏʸ ᵐᵉᵗ ᵗᶦᵐ ʰᵒʳᵗᵒⁿ ᵃⁿᵈ ᵗᶦᵐ ʰᵒʳᵗᵒⁿ ˢᶦᵍⁿᵉᵈ ᶦᵗ ᶠᵒʳ ʰᶦᵐ ᵒⁿᵃ ⁿᵃᵖᵏᶦⁿ..ᵖᵘˡˡˢ ᵒⁿ ʰᵉᵃʳᵗˢᵗʳᶦⁿᵍˢ…ᵉᵛᵉⁿ ᶦᶠ ᶜᵒᶠᶠᵉ ᵐᵃᵏᵉˢ ᵃⁿ ᵃᵖᵖᵉᵃʳᵃⁿᶜᵉ, ᵗʰᵃᵗˢ ⁿᵒᵗ ʷʰᵃᵗ ᵗʰᵉ ᵃᵈˢ ᵃᵇᵒᵘᵗ. ᵀᶦᵐˢ ᵈᶦᵈ ᵃ ᵍᵒᵒᵈ ʲᵒᵇ ʳᵉˡᵃᵗᶦⁿᵍ ᵗᵒ ᶜᵃⁿᵃᵈᶦᵃⁿ ᶜᵘˡᵗᵘʳᵉ..ᵗᶦᵐˢ ʷᵃⁿᵗᵉᵈ ᵗᵒ ᶜᵒⁿⁿᵉᶜᵗ ʷ ᵗʰᵉ ᶜᵒˡᵈ ʷᵉᵃᵗʰᵉʳ, ᶦᵐᵐᶦᵍʳᵃⁿᵗˢ, ʰᵒᶜᵏᵉʸ,

Answer 36

* Newspapers- Local; targets customers in home town; inexpensive * Magazines- Regional or national; large specific audience; Sports Illustrated * Direct Mail- Personalized message; may be considered “junk mail” * Outdoor advertising- Billboards; Geographically selected audience is an advantage; being a short message is a disadvantage * Station Posters- Geographically selected audience; short message;aimed at travelers; found in public transportation stations (buses, subways, airlines) * Stadium Signage -Seen by people at an event and television viewers; often used by sponsors

Answer 37

-Radio and television -Radio allows advertisers to reach a segmented audience base; relatively low cost and communicate in many settings (beach, car) -Radio does not broadcast a visual image. -Advantages of television is its sight, sound and motion which create dynamic communication. -Can target an audience by selecting a specific TV program (infomercials). -Major disadvantage is the cost of airtime.

Answer 38

Uses various media to communicate directly with consumers to make a sale. E.g. Direct mail, telemarketers, infomercials

Answer 39

-Banner advertising, company Web sites, online promotions, social media apps. -Some businesses use their Web sites directly to sell products or they can pay for a listing on other websites. Social Media

Answer 40

Coupons & Rebates, contests and sweepstakes, I give you a **Sample** of a **Premium** cheesecake

Answer 41

ᴴᵒⁿᵉʸ ᶜᵒᵘᵖᵒⁿˢ..ᵖᵃᵖᵉʳ ᵒⁿᵉˢ/ᵉˡᵉᶜᵗʳᵒⁿᶦᶜˢ..ᵘˢᵉ ᶦᵗᵎ ʳᵉᵇᵃᵗᵉ⁻>⁽ʳᵉᶠᵘⁿᵈˢ….ᵐᵒˢᵗˡʸ ᵉˡᵉᶜᵗʳᵒⁿᶦᶜˢ ᵃⁿᵈ ᶜᵃʳ ˢᵗᵘᶠᶠ ⁽ᶜᵒᵘᵖᵒⁿˢ ᵒᶠᶠᵉʳ ᵈᵉᵃˡˢ ᵘᵖ ᶠʳᵒⁿᵗ, ʷᶦᵗʰ ᵗʰᵉ ᵖᵘʳᶜʰᵃˢᵉ ᵒᶠ ᵗʰᵉ ᵖʳᵒᵈᵘᶜᵗ, ʳᵉᵇᵃᵗᵉˢ ᶜᵃⁿ ᵇᵉ ʳᵉᵈᵉᵉᵐᵉᵈ ᵒⁿˡʸ ᵃᶠᵗᵉʳ ᵖᵘʳᶜʰᵃˢᵉ⁾ ⁽ᶦⁿᶜᵉⁿᵗᶦᵛᵉˢ ᵗᵒ ᶜᵒᵐᵉ ᵗᵒ ᵗʰᵉ ˢᵗᵒʳᵉ⁾ -Offer some type of price reduction or free merchandise. -Biggest difference is that coupons must be redeemed at the store while rebates must be sent to the manufacturer for reimbursement. -Advantage is the flexibility of use (newspaper, magazine, direct mail, downloaded off the Internet, part of or in a product package, app, promo code). -Advantage for the company is that they have an expiration date. -Disadvantage is that they are easily copied by competitors.

Answer 42

**Samples** Costco…test drive -In a sampling campaign samples of a new product are given away to potential customers. -Local newspaper, mail, online or in person. -In store promotions or booths at sporting events. **Premiums **Buy one get one free.. -Are items that are given away free with the purchase of merchandise. -Free toy given away with the purchase of a McDonald’s Happy Meal.(and it's a product tie in hehe)

Answer 43

**For a contest a task must be performed to win a prize (E.g. Roll up the Rim or answering a skilled testing question)** (law u hv to do something w skill to get a prize like do a math question) **Sweepstakes participants need only to sign up to be included in the competition (paper or online).** (all u have to do is fill it out..ballot and u may win..) they ask for your email then they can email u promotions.

Answer 44

-Is a practice where a retailer agrees to match and/or beat a lower advertised price from a rival’s store. -Selling you the same product for a lower price.

Answer 45

**Direct communication by a salesperson to potential customers either in person, by telephone or online.** Personal selling allows for two-way communication between the buyer and seller.

Answer 46

**Order Taking** -Does not involve much sales ability. -The consumers know what they want and ask for it. -E.g. A salesperson who works in a souvenir shop…Winners **Order Getting** -A professional salesperson who knows how to follow the steps of a sale. -E.g. A sports agent…car salesman knows everything test drive ..trained on how to sell certain things.

Answer 47

**Prospecting** Involves looking for potential customers or leads (tradeshows). ⁽ᵇᵘˢᶦⁿᵉˢˢ ᶜᵃʳᵈ..ᵍᶦᵛᵉ ᵘ ᵗʰᵉᶦʳ ᶦⁿᶠᵒ ᵒʳ ᵗʰᵉʸ ᵗᵃᵏᵉ ᵘʳ ᶦⁿᶠᵒ ᵃⁿᵈ ᵗʰᵉʸ ʰᵒᵖᵉ ᵗᵒ ˢᵉˡˡ ᵗᵒ ʸᵒᵘ ᵒⁿᵉ ᵈᵃʸ..⁾ **Preapproach Strategies** ˢᵒᵐᵉ ʲᵒᵇˢ ʷᶦˡˡ ᵗᵉᵃᶜʰ ᵘ ᵃᵇᵒᵘᵗ ᵗʰᵉ ᵖʳᵒᵈᵘᶜᵗˢ ˢᵒ ᵘ ᶜᵃⁿ ˢᵉˡˡ ᶦᵗ. ᵀᵉˢˡᵃ ˢᵃˡᵉˢᵐᵃⁿ..ᴴᵘᵍᵒ ᵇᵒˢˢ ˢᵃˡᵉˢᵐᵃⁿ ᵖʳᵒᶠᵉˢˢᶦᵒⁿᵃˡˡʸ ˢᵉˡˡ ᵗᵒ ᵖᵉᵒᵖˡᵉ…ᵛˢ ʷᶦⁿⁿᵉʳˢ ᵗʰᵉʸ ᵈᵒⁿ’ᵗ -**Learning** about the products and the potential customers. -E.g. Sports agents put together sales presentations that highlight the features and benefits of the sports celebrities they represent. -E.g. For a pair of Nike athletic shoes the features such as the unique patented design, color, sizes and price may be selling points to a customer.

Answer 48

Approach 🚶‍♀️determine needs ❓present the product 🎁overcome objections 🤬 close the sale 💰perform suggestion selling 🙋‍♀️❔follow up 📞🧑‍💼

Answer 49

**Approach**⁽ᵃˢᵏ ᶦᶠ ᵘ ⁿᵉᵉᵈ ʰᵉˡᵖ..ˢᵒᵐᵉ ʰᵛ ᵍʳᵉᵉᵗᵉʳˢ..ᵈᵒⁿ’ᵗ ʷᵃⁿᵗ ᵗᵒ ᵇᵒᵐᵇᵃʳᵈ ʸᵒᵘ⁾ -First face-to-face meeting with the potential customer. -Goal is to establish a relationship with the customer. **Determine needs** ⁽ ᶜᵘˢᵗᵒᵐᵉʳ ˢᵃʸˢ ʰᵉ ⁿᵉᵉᵈˢ ᵃ ⁿᵉʷ ˢᵘᶦᵗ -Involves looking, listening, and asking questions. -Look at the customer for non-verbal feedback and facial expressions. **Present the product** ˢʰᵉ ˢʰᵒʷˢ ʰᶦᵐ ᵗʰᵉ ˢᵘᶦᵗˢ ᵃⁿᵈ ᵗʰᵉ ᵈᶦᶠᶠ ᶜᵒˡᵒʳˢ ᵃᵛᵃᶦˡᵃᵇˡᵉ -Should be developed around the customer’s needs and wants. -Should create interest and desire. **Overcome objections** ʸᵒᵘ ᵈᵒⁿᵗ ˡᶦᵏᵉ ᶦᵗˀ ᵂᵉˡˡ ʷᵉ ʰᵃᵛᵉ ᵃ ᶜᵒᵘᵖˡᵉ ᵐᵒʳᵉ.. -Involves answering questions or eliminating doubts about a product. -Objections can become selling points. **Close the sale** ʸᵒᵘ ˡᶦᵏᵉ ᶦᵗ ᵍʳᵉᵃᵗᵎ ᴵˡˡ ᵗᵃᵏᵉ ᵗʰᶦˢ ᵗᵒ ᵗʰᵉ ᶜᵃˢʰ ᵖᵃʸ -Getting a commitment from the customer. **Perform suggestion selling** ᵃˢᵏ ᶦᶠ ʰᵉ ⁿᵉᵉᵈˢ ˢʰᶦʳᵗ ᵗᶦᵉ ˢᵒᶜᵏˢ ᵉᵛᵉʳʸᵗʰᶦⁿᵍ ᵗᵒᵒ. ᴱˣ. ᶜᵃʳ ˢᵃˡᵉˢᵐᵃⁿ ᵈᵒ ᵘ ʷᵃⁿᵗ ˢᵖᵉᶜᶦᵃˡ ᵗᶦʳᵉˢ ˢᵖᵉᶜᶦᵃˡ ˢᵗᵘᶠᶠˀ -Presenting ideas for additional merchandising sales. **Follow up** ˢᶦᵐᵐᶦ ˢᵗᶦˡˡ ᵍᵉᵗˢ ᵖʳᵒᵐᵒᵗᶦᵒⁿᵃˡ ᵉᵐᵃᶦˡˢ.. ⱽᵒˡᵏˢʷᵃᵍᵉⁿ ᵇᵒᵘᵍʰᵗ ᶜᵃʳ ᶠʳᵒᵐ ˢᵗᵉᵛᵉ, ᶠᵒʳ ᵃ ʷʰᵒˡᵉ ʸᵉᵃʳ ˢᵃˡᵉˢᵐᵃⁿ ˢᵗᵉᵛᵉ ᶜᵃˡˡˢ ˢᶦᵐᵐᶦ ᵒⁿᶜᵉ ᵃ ᵐᵒⁿᵗʰ ᵃⁿᵈ ᵃˢᵏˢ ʰᵒʷˢ ᵗʰᵉ ᶜᵃʳ…ᵗʳᵉˢᵗ ᶜᵘˢᵗᵒᵐᵉʳˢ ʷᵉˡˡ. ˢᵒ ᶦᶠ ˢᵒᵐᵉᵒⁿᵉ ᵃˢᵏˢ ˢᶦᵐᵐᶦ ʷʰᵉʳᵉ ᵗᵒ ᵍᵒ ᵗᵒ ᵇᵘʸ ᵃ ᶜᵃʳ ʰᵉ ʳᵉᶜᵒᵐᵐᵉⁿᵈˢ ˢᵗᵉᵛᵉ Sale is the beginning of a relationship and not the end. Developing a relationship can lead to repeat sales.

Answer 50

**A document that provides direction for the marketing activities for a specific period of time.** *It communicates the goals, objectives, and strategies of a company to its employees. *Informs employees about their responsibilities and timelines for completion. *How resources will be allocated or given out. *Helps a company monitor its performance.

Answer 51

1) Use within a business. 2) Prepared to obtain **financing** from outside investors for a new venture. ⁽ⁿᵉᵉᵈ ᵗᵒ ᵍᵒ ᵗᵒ ᵃ ᵇᵃⁿᵏ ᵗᵒ ᵇᵒʳʳᵒʷ $ ˢᵒ ᵘ ᶜᵃⁿ ʰᵛ ᵃ ⁿᵉʷ ᵖʳᵒᵈᵘᶜᵗ, ˢʰᵒʷ ᶦᵗ ᵗᵒ ᵇᵃⁿᵏ ˢᵒ ᵗʰᵉʸ ᶜᵃⁿ ᵃᵖᵖʳᵒᵛᵉ ᵃⁿᵈ ᵍᶦᵛᵉ $..ᵘʳ ᵍᵒⁿⁿᵃ ᵍᵒ ᵗᵒ ᵒᵘᵗˢᶦᵈᵉ ᶦⁿᵛᵉˢᵗᵒʳˢ…

Answer 52

1. EXECUTIVE SUMMARY 2. SITUATION ANALYSIS 3. MARKETING GOALS/OBJECTIVES 4)MARKETING STRATEGIES 5) IMPLEMENTATION 6) EVALUATION AND CONTROL

Answer 53

⁽ᶠᵃⁿᶜʸ ᶜᵒᵛᵉʳ ᵖᵃᵍᵉ, ˢᵘᵐᵐᵃʳᶦᶻᶦⁿᵍ ᵉᵛᵉʳʸᵗʰᶦⁿᵍ ᶦⁿ ᵐᵃʳᵏᵉᵗᶦⁿᵍ ᵖˡᵃⁿ⁾ 🌸 an overview of the entire marketing plan. 🌸Briefly addresses each topic in the plan. 🌸Provides an explanation of all **costs** involved. read the textbook example pg. notes: .(!!! Key! U go to a bank they need to know how much money to give..ur costs..) (executive summary example online !! (until “especially designed for women”--purpose. Rest of paragraph is the objective. 18 mil!!---thats the costs involved. GO OVER IT !!!!!

Answer 54

A study of the internal and external factors. **Internal factors** ⁽ᶦⁿᵗᵉʳⁿᵃˡ ᵃⁿᵃˡʸˢʸˢ ᶠᶠᶜ ᵗᵃʳᵍᵉᵗ ᵐᵃˡᵉ ᵃⁿᵈ ᵉˡᵈᵉʳˢ ᵍᵒˡᶠᵉʳˢ..ᵉˣᵗᵉʳⁿᵃˡ ᶦˢ ˢᵉᵉᶦⁿᵍ ʷᵉ ⁿᵉᵉᵈ ᵃ ˡᶦⁿᵉ ᶠᵒʳ ʷᵒᵐᵉⁿ⁾ 🩵 Target markets 🩵Current performance 🩵Financial resources ⁽ᵈᵒ ʷᵉ ʰᵛ ᵐᵒⁿᵉʸ ᵈᵒ ʷᵉ ⁿᵉᵉᵈ ᵗᵒ ᵍᵒ ᵗᵒ ᵃ ᵇᵃⁿᵏ I pull up at the club and I see the **situation ** . the chicks were my ** target mark** , the Performance was tasteful . I grabbed some drinks, those were my resources, then I left the party now I’m external. I grabbed my technological economical device and I called my mom for some political advice , she told me industry was trending with cultural competition, it was crazy! I turned my phone off cuz I was trippin. **External Factors:** 💙Competition 💙Political ᵖᵒˡᶦᵗᶦᶜᵃˡ ᶜˡᶦᵐᵃᵗᵉ ˡᵃʷˢ 💙Economical ʳᵉᶜᶜᵉˢᵗᶦᵒⁿ ᶜᵃⁿ ᵖᵖˡ ᵃᶠᶠᵒʳᵈ ᵗᵒ ᵖˡᵃʸ ᵍᵒˡᶠ 💙Regulatory/Legal 💙Technological ᵗᵉᶜʰ ᶜʰᵃⁿᵍᵉᵈ ᵍᵒˡᶠ ˡᵃⁿᵈˢᶜᵃᵖᵉ ᵃⁿᵈ ᵉᵛᵉʳʸᵗʰᶦⁿᵍ 💙Cultural ᵈᵉᵐᵒᵍʳᵃᵖʰᶦᶜ.. 💙Industry Trends

Answer 55

**Strengths (internal)** Qualities that give a business a competitive advantage. Talent and well trained employees, good management, quality workmanship, excellent service record **Weaknesses (internal)** Qualities that give a business a competitive disadvantage. Poor service record, inexperienced workers, poor quality goods **Opportunities (external)** Features or events that could benefit the business. E.g. A major competitor receives bad publicity because of defective products that require a recall. **Threats (external)** Features or events that could damage the business. E.g. The launch of a new product or advertising campaign by a competitor.

Answer 56

FFc textbook example: situation analysis--- 1st sentence- strength, internal 2nd sentence(5% share)- opportunity external (actually not sure..don’t know if 5% is good/bad, opportunity/threat)--simonetti doesn’t like this part of the example 3rd sentence competitors-threat external 2nd paragraph 1st sentence bad economy consumer confidence- threat external stuff 2nd sentance econ improved-opportunity 3rd increased competitors increased uint sales and revenue -threat 4th competitors are subsidiaries of other companies they whether econ downturns better- threat 5th fcc can compete against market leaders as it is part of a large conglomerate- strength internal 3rd paragraph- knockofs,ppl quit golf a lot, -threat Tech to identify knockofs- strength golf is difficult -opp or threat. can be good that its a challange Demos tips-strength 4th paragraph - opportunity 5 bil-opportunity Growth in market-opp FFC continuing….: Objectives: Recognisable brand for women within 1st year---unreasonable ..”recognisable” not specific what does that mean.?” Become the gold equip of choice for women in 5 years---meh not that good but how do i measure what does that mean/?( sales #1 in teh industry? Recognise logo?) not specific.

Answer 57

**MARKETING GOALS/OBJECTIVES** Let everyone know what needs to be accomplished by the marketing plan. To be useful they must be: **Measurable**📏 The objective includes a way to evaluate it. **Reasonable**🙂 Objectives and goals are realistic and achievable. **Time Frame**⏰ **Simple**😌 Everyone finds it easy to understand what is expected. **Single-Minded**☝️ One topic is addressed per objective. **Specific**🍱 The objective provides enough detail so there can be no misunderstanding. E.g. We want to increase season tickets by 10% in the next six months. (be specific…dont wanna just “do good” or “make a lotta money”..)

Answer 58

A method that identifies target markets to make marketing-mix decisions that focus on those target markets.⁽ᵈᵉᵐᵒᵍʳᵃᵖʰᶦᶜˢ, ᵖˢʸᶜʰᵒᵍʳᵃᵖʰᶦᶜˢ, ᵖʳᵒᵈᵘᶜᵗ ᵇᵉⁿᵉᶠᶦᵗˢ,

Answer 59

**Product** -The actual design of the product, packaging and brand name. -Product warranty, image and customer benefits. -Point of difference **Price** -Cost, competition, economic conditions and what the customer is willing to pay will impact the price. -Psychological and emotional factors will play a role such as value, reputation or prestige. -Easiest of the 4 p’s to change. ⁽ᵇᵘⁿᵈˡᵉ ᵖʳᶦᶜᶦⁿᵍ..ᶜᵒˢᵗ ᵖˡᵘˢ ᵖʳᶦᶜᶦⁿᵍ..⁾ **Place** Distribution strategies to get the product to the consumers. Direct channels (agents, retailers), intermediaries, direct marketing (telemarketing, infomercials), websites etc. ⁽ᵈᶦʳᵉᶜᵗ/ᶦⁿᵈᶦʳᵉᶜᵗ ᶜʰᵃⁿⁿᵉˡ, ᵐᵘˡᵗᶦᵖˡᵉ.⁾ **Promotion** -Sales promotion, advertising, publicity, public relations, personal selling. -Can focus on informing, educating and/or persuading customers. (advertising sleeping promotional mix, publicity..)

Answer 60

Notes (textbook target market..): really bad section a lot wrong.. :( lack of detail “women golfers teens to older adults” --- bad range not specific how old is an older adult or a teen? Specific age numbers !! (13-24..) nothing ab product benefits, psycographics, demographics age income … Marketing mix notes: 1st paragraph: in the paragraph 2 ps being discussed ( product--ab the gold clubs . prices)doesn’t talk ab pricing strategies (competition/bundle pricing.) 2nd paragraph: all about place but doesn’t say indirect/direct/multiple !!(it’s indirect only) 3rd paragraph: endorsements.. Next 2 paragraphs- all promo strategies publicity (dont say we will have this sales promotion..this.. Not well done..)

Answer 61

✔Putting the marketing plan into action. ✔Marketers develop an organizational outline with: -----🐮 a schedule of activities -----🐮Job assignments -----🐮A budget -----🐮Details about each activity

Answer 62

-Involves answering the question “Did we accomplish our marketing objectives in the specified time frame?” -In the evaluation phase the company reviews sales data, market share, brand-name recall or any other area from the marketing plan objectives. -In the control phase the company takes action to reduce the gap between planned and actual performance. example: **ᴱˣᵖˡᵃᶦⁿ ᵗᵒ ʳᵉᵉᵈᵉʳ ʰᵒʷ ᵘ ʷᶦˡˡ ᶜʰᵉᶜᵏ ᵗᵒ ˢᵉᵉ ᶦᶠ ᶦᵗˢ ᵍᵒⁿⁿᵃ ʰᵃᵖᵖᵉⁿ ᵃⁿᵈ ᶦᶠ ᶦᵗˢ ᵍᵒⁿⁿᵃ ʰᵃᵖᵖᵉⁿ ʰᵒʷ ʷᶦˡˡ ᵘ ᶠᶦˣ ᶦᵗ ˢᵒ ᶦᵗ ʰᵃᵖᵖᵉⁿˢ..** Goal (from textbook ex): Generate sales of 105 mil in 1st year Evaluation: ʰᵒʷ ᵃʳᵉ ᵘ ᵍᵒᶦⁿᵍ ᵗᵒ ᵏⁿᵒʷ ᶦᶠ ᵘʳ ᶜˡᵒˢᵉ ᵗᵒ ʳᵉᵃᶜʰᶦⁿᵍ ᵘʳ ᵍᵒᵃˡ.ᵀʳᵃᶜᵏ ˢᵃˡᵉˢ ᵒᶠ ᵠᵘᵃʳᵗᵉʳˢ/ᶜᵉʳᵗᵃᶦⁿ ᵗᶦᵐᵉ ᶠʳᵃᵐᵉˢ/ᵉᵛᵉʳʸ ³ ᵐᵒ/⁶ᵐᵒ Every 4 months we will check sales Ex. after 4 mo ur at 25 mil ur not on track to ur goal (less than 105/4) Control: ᶦᶠ ᵘʳ ᵍᵒᵃˡ ⁿᵒᵗ ᵒⁿ ᵗʳᵃᶜᵏ ʷʰᵃᵗ ʷᶦˡˡ ᵘ ᵈᵒ ᵗᵒ ᶦⁿᶜʳᵉᵃˢᵉ ˢᵃˡᵉˢ. ᴬˡʷᵃʸˢ ᵃ ʷʰᵃᵗ⁻ᶦᶠ ˢᶜᵉⁿᵃʳᶦᵒᵎ -increase ads on social media -alter the product a bit… -diff endorsements -offer diff types of sales promotions -give employees incentives to sell (commissions..)

Answer 63

Press Kit: **Promotional materials** that can be **used by the media**, such as fact sheets, background information, press releases, testimonials, video etc. 😃 Press Releases A **newsworthy article** that provides the basic information to answer questions such as **who, what, where, when, and why.**

Answer 64

**Entitlements** Occur when there is one major sponsor for an **event.** (National Bank Open is the major sponsor for this tennis event in Toronto and Montreal. There are more sponsors, but they are the one major one and the event is called after their name.) **Facility Entitlements** A company purchases the promotional rights to an **entire stadium**(This is the Budweiser Stage downtown Toronto where concerts are held. Used to be called Molson Amphitheater. ) **Product Exclusivity** Only **one product** in a product category is granted sponsorship. This prevents competitors from selling or promoting their product during sponsored events. (At McDonalds, you can only buy Coca Cola products such as Coke, Sprite, Nestea, Powerade, Dasani etc. You cannot get Pepsi products!!)

sports m unit 3 test Flashcards

(88 cards)