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Sports Management > Unit 1 > Flashcards

Unit 1 Flashcards

1
Q

What is the North American sports market revenue

A
  1. media rights
  2. gate
  3. sponsership
  4. Merch
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2
Q

Most Valuable sports franchise in canada

A

Toronto Raptors 2.48 billion
Toronto Maple Leafs 1.8 billion
Toronto blue Jays 1.67 billion

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3
Q

How much does it cost for Super Bowl and 30 seconds

A

6.5 million for 30 seconds

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4
Q

What is the importance of viewer ratings

A

Drives advertising revenue

more viewers equals more broadcasters can charge

promotions and exposure

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5
Q

What is marketing

A

Promoting products services to satisfy customers needs and wants

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6
Q

Sports marketing

A

Development and promoting to satisfy sports customers needs and wants

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7
Q

Two major components of sports

A
  1. OF sports i.e. TSN
  2. THROUGH sports i.e. wearing
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8
Q

Process of marketing

A

Developing
promotion
distribution

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9
Q

What is marketing concept

A

Satisfy their customers trying to reach their goals

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10
Q

How to make a marketing concept

A

Identify
needs and wants
target market

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11
Q

Economics

A

Study of choices and decisions that make distribute and using goods and services

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12
Q

GDP

A

Gross domestic product is the values of goods and services produced within a country

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13
Q

Free enterprise system

A

Business makes economic decisions on what product services will be produced

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14
Q

Characteristics of the free enterprise system

A

Profit
risk
competition

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15
Q

What are the only college sports that make profit

A

Football and basketball

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16
Q

What percentages of business fell during the first two years

A

30%

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17
Q

What percentage of business fails in five years

A

50%

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18
Q

What percentage of business fails within 10 years

A

66%

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19
Q

How do you decrease the risk of business failing

A

Insurance
employee training
market
research risk management

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20
Q

What is market share

A

The percentage of the total sales of all companies that sell the same type of product

21
Q

What is a revenue stream

A

The money a business receives from excel of goods or services a.k.a. source of income

22
Q

Who is the largest contributor to athlete funding

A

own the podium

23
Q

What is a marketing mix

A

Practice
price
place
promo
the 4 P’s

24
Q

What is the players union

A

Allows negotiating ability

transparency of salary so it’s public knowledge

makes informed decisions on salary

25
Q

How the lauge makes money

A

Broadcasting
commercial
match day revenue
merchandise

26
Q

Who has the largest broadcasting right deal

A

11 year deal CBS Fox NBC ESPN Amazon prime $113 billion deal to the 2033 year seaso

27
Q

What states have no tax

A

Texas Florida Tennessee Washington Nevada

28
Q

What are the farm systems for the four major sports leagues

A

NFL —NCAA
NBA —G league D league NCAA
NHL —AHL ECHL CHL NCAA
MLB— MILB NCAA

29
Q

What are the three most profitable teams in the WHL and OHL

A

London Knights, Edmonton oil kings, Seattle Thunderbirds

30
Q

What are the owners responsibilities

A

Operate their franchise in a manner of consistent with the leaks rules regulations and byelaws

Financial responsibility of salaries rent taxes revenue sharing

31
Q

What is the role of a GM

A

Directly answers to the owners and usually has a final power on player related decisions that he makes

32
Q

What is the role of a CEO

A

Director of player personal deals primarily with players already in league

33
Q

Types of business ownership

A
  1. Sole proprietorship
  2. Partnership
  3. Cooperation
  4. Franchise
34
Q

Soul proprietorship

A

A business owned by one person or family

35
Q

Soul proprietorship PROS

A

ease in starting and ending business

Complete control

All profits belong to owner

36
Q

Soul proprietorship CONS

A

Lack of finance to expand

Unlimited liability

Time commitment

37
Q

What is a partnership

A

A business owned by two or more owners

38
Q

Advantages of partnerships

A

Shared financial investment

Shared responsibility expertise

Ability to expand

39
Q

Disadvantages of a partnership

A

Unlimited liability,

Difficulty withdrawing

Disagreements

Partnership agreement and limited partnership AKA silent partner

40
Q

What is a Corporation

A

Owners are called shareholders

shareholders on a stock and Company

shareholders elect board of directors and this board hires people to run the company

41
Q

Advantages of a corpration

A

-ability to generate caoital investment

-limited libility

-ability to hire experts to run the comapny

-ability to expand

-ease in which ownders can join

42
Q

Disadvantages of a coroperation

A

-conplex structure
-higher tax rate
-diuble taxation
-increased government regualtion

43
Q

what is a franchise

A

-one business the franchise license the rights to its name operating procedure designs and business to another business of the franchise

A franchise buys a license to operate

The franchisor in franchise are independent business affiliated to an agreement

44
Q

Advantages of a franchise

A

Training provided

higher success rate compared to a start up business

easier to secure franchise for franchisee

marketing is provided

45
Q

Disadvantages to franchise

A

Agreements choose how you will run and operate the business

Limited creativity

Ongoing sharing of profit with the franchisor

Franchises don’t have to renew agreement at the end of her

46
Q

How much do sports agent makes in percentages

A

3-10%of players contract

10 to 20% of endorsement contract

47
Q

Who has the highest and lowest commission rate

A

Highest is FIFA 10% commission and lowest is NFL 3% commission

48
Q

What is sports analytics

A

Collection of relevant historical statistics that one properly applied can provide a competitive advantage to a team or individual

49
Q

What are the two types of analytics

A

On field analytics and off field analytics

Sports Management (3 decks)

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