Unit 1 Flashcards Preview

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Flashcards in Unit 1 Deck (53):
1

process of planning, pricing, promoting, selling, and distributing products to satisfy customers' needs and wants

marketing

2

creation and maintenance of satisfying exchange relationships

marketing

3

satisfying customer needs

identify your customer and the needs of your customer

4

develop superior products

satisfying customer needs

5

operate your business profitably

satisfying customer needs

6

marketers of sports products must access

consumer demand
the competition
financial valuation of goods and services they offer

7

how a sports business blends the following four elements

the marketing mix:
product
place
price
promotion

8

what business offers to satisfy needs

product

9

goods and services

product

10

locations and methods used to make products available to consumers

place (distribution)

11

amount of customers pay for products

price

12

communications to make customers aware of products

promotion

13

encourages customers to buy

promotion

14

amount of money individuals have available to spend after paying for necessities

discretionary income

15

amount of money individuals have available after taxes are taken out of a consumer's income

disposable income

16

striking the right balance between price, distribution and promotion is

important

17

Super Bowl offers a game between best teams of AFC and NFC

product

18

consumer costs extend beyond ticket prices and include travel and lodging expenses

price

19

distribution includes location of host city and ticket sales

place

20

involves media outlets and related-product contests

promotion

21

right product, right place, at the right time

distribution

22

best way to get a company's products and services or

customers

23

channels

direct vs. indirect

24

gathering and using information about customers to improve business decision making

marketing-information management

25

process of establishing and communicating to customers the value of costs of goods and services

pricing

26

designing, developing, maintaining, improving and acquiring products or services to meet customer needs

product/service management

27

using variety of communication forms, to distribute information about products, services, images and ideas to achieve a desired outcome

promotion

28

advertising-paid, to a mass audience

promotion

29

sales promotion

promotion

30

publicity-can be good or bad, free

promotion

31

any direct and personal communication with customers to assess and satisfy their needs

selling

32

company must budget for its business and marketing activities and provide customers with assistance in paying for company's products and services

financing

33

common characteristics of a group

demographics

34

age, marital status, education, ethnicity, occupation are examples of

demographics

35

using sports to market products

sports marketing

36

continual innovations provides new _____

opportunities

37

number of times per advertisement, game, or show that a product or service is associated with an athlete, team, or entertainer

gross impression

38

fans want products and services that identify them with winning teams and athletes

timing

39

marketing efforts may need to be tweaked based on changes in winning trends

timing

40

sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy

value of sports marketing

41

emotional connections to teams motivate fans to buy tickets to games

emotional value

42

high profile sporting events generate strong promotion revenues for _____________

broadcasters

43

influencing how people choose to spend their time and money on entertainment

entertainment marketing

44

whatever people are willing to spend their money and spare time viewing rather than participating

entertainment

45

at beginning of 20th century, audiences needed to travel to the entertainment source

evolution of sports and entertainment marketing

46

audience feedback was instantaneous and ____

live

47

__________ distanced athletes from their audiences

technology

48

ESPN represented a new approach to marketing mix of ______ _____________.

sports entertainment

49

__ changed the marketing of entertainment in a profound way

TV

50

television's increasing influence meant higher

ratings

51

number of viewers the programming attracted

ratings

52

technology improvements, including the internet, have facilitated distribution of sports and entertainment to the ______

masses

53

audiences can use a variety of communication technologies to provide entertainment ________

feedback