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sports marketing Flashcards

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1
Q

Marketing

A

The process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants

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2
Q

Marketing concept

A

The idea that organizations will need to satisfy their customers while also trying to reach their organizations’ goals

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3
Q

Market

A

Consists of potential customers with shared needs who have the desire and ability to buy a product

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4
Q

Needs

A

Occur when people experience a lack of basic necessities such as food, clothing, or shelter

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5
Q

Wants

A

Things that people desire based on personality, experiences, or information of a product

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6
Q

Target market

A

A specific group of consumers that an organization selects as the focus of its marketing plan

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7
Q

Demographics

A

Statistics that describe the population in terms of personal characteristics

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8
Q

Marketing mix

A

A combination of four basic marketing strategies, known as the 4 p’s

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9
Q

Channel of distribution

A

The path a product takes from the producer to the consumer

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10
Q

Economics

A

The study of choices and decisions that affect making, distributing, and using goods and services

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11
Q

GDP (Gross domestic product)

A

The value of all goods produced within the country

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12
Q

Profit

A

The money left after all costs and expenses of a business are paid

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13
Q

Competition

A

A characteristic of free enterprise, the struggle among companies for customers

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14
Q

Copyright

A

The legal protection of a creator’s intellectual property or products

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15
Q

Consumers

A

People who use products

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16
Q

Discretionary income

A

Money left to spend after all necessary expenses are paid

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17
Q

Kinetoscope

A

A device used to view a sequence of doing pictures

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18
Q

Vendors

A

Sellers of products

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19
Q

Product

A

A good or service that any for-profiit industry sells to its customers

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20
Q

Promotion

A

Any form of communication used to persuade people to buy products

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21
Q

Endorsement

A

Approval or support of a product or idea, usually by a celebrity

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22
Q

Core product

A

The main product

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23
Q

Ancillary product

A

A product related to or created from the core product

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24
Q

Revenue

A

Gross income

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25
Piracy
The unauthorized use of an owner's or creator's music, movies, or other copyrighted material
26
Royalty
A payment for material that has been copyrighted, or legally declare as belonging to the creator
27
Product tie in
Use of ancillary products such as merchandise as promotional tools
28
Cross promotion
Any form of communication through which one industry relies on another industry to promote its product
29
Convergence
The overlapping of product promotion
30
Synergy
A combined action that occurs when products owned by one source promote the growth of related products
31
Risks
Unforeseen events and obstacles that can negatively affect business
32
Risk management
A strategy to offer business risks
33
Consumer loyalty
Commuters' attitude that occurs when they are happy with a company and become repeat customers
34
Sponsorship
The promotion of a company in association with a property
35
Sports marketing
All the marketing activities designed to satisfy the needs and wants of sports consumers
36
Amateur athlete
A person who does not get paid to play a sport
37
NCAA
A national organization that governs college athletics and oversees important decisions pertaining to athletics
38
Professional athlete
An athlete who has the will and ability to earn an income from particular sport
39
Title IX
A law that bans gender discrimination in schools that receive federal funds
40
Extreme sports
Sports that involve nontraditional, daring methods of athletic competition
41
Sports consumer
A person who may play, officiate, watch, or listen to sports, or read, use, purchase, and/or collect items related to sports
42
Marketing segmentation
A way of analyzing a market by specific characteristics to create a target market
43
Sports products
The goods, services, ideas, or a combination of those things related to sports that provide satisfaction to a consumer
44
Tangible products
Physical goods that offer benefits to the consumer
45
Intangible products
A non physical services such as tennis lessons, personal training, and sports camps
46
Product line
A group of closely related products manufactured and/or sold by a company
47
Product mix
The total assortment of products that a company makes and/or sells
48
Opportunity cost
The loss of the opportunity that is passed up in order to receive something in exchange
49
Infrastructure
The physical development of an area, including the major public systems, services, and facilities of a country or region needed to make a location function
50
Sports franchise
An agreement or contract for a sports organization to sell a parent company’s good or service within a given area
51
Grassroots
Marketing activity on a local community level
52
Product item
Specific model or size of a product
53
Consumer goods
Goods purchased and used by the ultimate consumer for personal use
54
Business goods
Goods purchased by organizations for use in their operations
55
Point of difference
A unique product characteristic or benefit that sets it apart from a competitor
56
Focus group
A panel of six to ten consumers who discuss opinions at a topic under the guidance of a moderator
57
Commercialization
Process that involved producing and marketing a new product
58
Repositioning
Changing a product’s image in relation to a competitor's image
59
Price
The value placed on goods or services being exchanged
60
Prestige pricing
Pricing based on consumer perception
61
Odd even pricing
Pricing goods with either an odd number or even number to match a product’s image
62
Target pricing
Pricing goods according to what the customer is willing to pay
63
Markup
Difference between the retail or wholesale price and the cost of an item
64
Cost plus pricing
Pricing products by calculating all costs and expenses and adding desire profit
65
Non price competition
Competition between businesses based on quality, service, and relationships
66
Market share
The percentage of the total sales of all companies that sell the same type of product
67
Price lining
Selling all goods in a product line at specific price points
68
Bundle pricing
Selling several items as a package for a set price
69
Loss leader pricing
Pricing an item at cost or below cost to draw customers into the store
70
Yield management pricing
Pricing items at different prices to maximize revenue when limited capacity is involved
71
Price fixing
An illegal practice whereby competitors conspire to set the same prices
72
Market research
the process of systematically collecting, recording, analyzing, and presenting data related to marketing goods and services
73
Secondary research
published data that have been collected for some reason
74
Primary research
original research conducted for a specific marketing situation
75
Observation method
research technique that involves watching actual behavior and recording it
76
Census
a study that counts everyone in the research population
77
Sample
a number of people who are representative of a study’s population
78
Direct channel
the patch a product takes without the help of any intermediaries between the producer and consumer
79
Direct marketing
marketing activities to sell products directly to customers through the use of a customer database
80
Indirect channel
the path a product takes using intermediaries between the producer and consumer
81
Brand
a name, word or no words, symbol, or design that identifies an organization and its product
82
Brand name
A word or words, letters, or numbers representing a brand that can be spoken
83
Trademark
A device that legally identifies ownership of a registered brand or trade name
84
Brand equity
The value a brand has beyond its actual functional benefits
85
Manufacturer brand
A brand owned by the producer of the product
86
Co branding
A branding strategy that combines one or more brands to increase customer loyalty and sales for each product
87
Intermediary brand
A brand that carries a bane developed by the wholesaler, retailer, or catalog house
88
Generic brand
A brand that represents a general product category and does not carry a company or brand name
89
Licensing
An agreement that gives a company the right to use another’s brand name, patent, or other intellectual property for a royalty or fee
90
Event marketing
All activities associated with the sale, distribution, and promotion of a sports event
91
Promotional mix
Any combination of advertising, sales promotion, publicity, direct marketing, and personal selling
92
Advertising
Any paid promotion of an idea, good, or service by an identified sponsor
93
Promotional advertising
Advertising with a goal of selling an item being promoted
94
Institutional advertising
Advertising with a goal of developing goodwill or a positive image
95
Sales promotion
A short term incentive to get consumers interested in buying a product
96
Public relations
Activities that promote the image and communications a company has with its employees, customers, investors, and public
97
Publicity
The free mention of a product or company in the media
98
Press release
A newsworthy article that provides the basic information to answer questions such as who, what, where, when, and why
99
Personal selling
Direct communication by a salesperson to potential customers either in person or by telephone

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