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sports and marketing > unit one notes > Flashcards

unit one notes Flashcards

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1
Q

what is marketing

A

The planning, pricing, promoting, distributing, and selling of goods and services to satisfy consumers’ needs and wants.

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2
Q

B2B

A

higher prices items; focusing on personal selling

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3
Q

B2C

A

focus on consumer goods; investing in demand and popularity

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4
Q

4ps

A

Product, Price, Place, Promotion

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5
Q

Marketing core standards

A
  1. Distribution
  2. Marketing information management
  3. Pricing
  4. Product/service management
  5. Promotion
  6. Selling
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6
Q

Place vs convenience

A

how and where people are willing to buy the product/service

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7
Q

Price vs value:

A

price is what you pay, value is what you get

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8
Q

Planning and implementing activities with and through:

A

Sports product/service
Entertainment product/service
- Through: coke and super bowl
- With: Marvel movie trailer

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9
Q

Need

A

essential for survival, wellbeing and functionality

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10
Q

Wants

A

desires going beyond necessities

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11
Q

Consumer motivation (Maslow’s hierarchy of needs)

A

Self-actualization
Esteem
Love and belonging
Safety needs
Psychological needs

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12
Q

Income

A

Gross income - what you get
Disposable income - after taxes
Discretionary income - after paying bills

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13
Q

Technology

A

enhances shopper experience
- VR
- Online shopping
- Bauer game fit

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14
Q

Decision-making process

A
  • Need/problem recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Post-purchase evaluation
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15
Q

Target Market

A

Target market influence on distribution strategy, promotional, pricing, and approach to product design and development

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16
Q

Demographics

A

age, gender, etc.

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17
Q

Psychographics

A

interests, hobbies, beliefs

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18
Q

Behavior:

A

purchase behaviour; habits

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19
Q

Geographics

A

urban, rural, suburban

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20
Q

Categories of sports

A
  • Professional athletes
  • Recreational
  • Amateur
  • College/Uni
  • High School sports
  • E sports
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21
Q

Professional athletes

A

ability to earn an income from a particular sport
- Managing organizations in professional sports
- Sports franchises
-Revenue through stadium sales/sponsorships

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22
Q

Recreational

A

for fun: golf, bowling hiking, skiing

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23
Q

Amateur

Study These Flashcards
A

an athlete who either does not accept money or accepts it under a regulatory body for participating in a competition

24
Q

College/Uni

Study These Flashcards
A

NCAA/U Sports: are national organizations that govern college/university athletics and oversee important decisions pertaining to athletics.

25
high school sports
pride and part of tradition
26
e-sports
competition of video games
27
more categories of sports
Olympic sports Paralympics and Special Olympics International sporting events Women’s sports Extreme sports
28
Entertainment is:
Whatever people are willing to spend their money and spare time viewing rather than participating in
29
Live performances
- Theaters and concerts - Theatres are historical - storytelling - Energy and interaction from audiences
30
Digital Entertainment
- Tv shows, movies, podcasts, YouTube - Accessible content anytime
31
Sports and Games
- Professional sports - Esports
32
Social and Interactive Entertainment
- Amusement parks, escape rooms, festivals, fairs, etc. - Physical and social interaction
33
Artistic Expression
Art exhibitions, museums, dance performances, literature readings.
34
Direct Competition
Offering same or the similar products to the same target market
35
Indirect Competition
Companies or entities offering different products or services that can satisfy the same customer needs or wants
36
Differentiation
stand out from competitors; create different brand, product, or service
37
Innovation
new product, service, or processes
38
Customer experience
improve customer service; offer luxury seating, early access
39
Pricing strategies:
not sustainable long-term
40
19th century
Saw rules and organization of sports turn into leagues Starting with cricket/soccer in Britain
41
Industrial Revolution
Brought about urbanization More time for engaging and watching sports
42
late 19th century
Separation between amateur and professional athletes Professionals getting paid in sports like boxing and baseball (MLB, 1876)
43
Early 20th Century
NFL solidifies league (1920) Radio broadcasting Allowed fans to follow their teams in real-time Increased accessibility to, and popularity of, sports First broadcast of World Series - 1921 First World Cup held in 1930 - Increased global appeal for sports
44
William “Bill” Veeck
Owned 2 baseball teams - cleveland indians and chicago white sox Introduced grandstand-style entertainment to fans: Fireworks Dazzling scoreboards Special-event nights
45
Mid 20th Century - Commercialization + Globalization
Television Corporate Sponsorships
46
Television (Mid 20th Century)
Became dominant medium for sports Massive viewership led to huge advertising opportunities Instant replay + slow-motion technology used (1967 Super Bowl)
47
Corporate Sponsorships (mid 20th century)
Sponsorship deals Branded stadiums Athlete endorsements
48
Late 20th Century - Modern Sports Business
Athletes become global icons Sports Marketing - a specialized industry Expansion of leagues and franchises
49
21st Century - Digital Age and Global Reach
Digital Media Digital Media (Cont’d) - Digital billboards in stadiums - Networks using AR and VR to display ads that appear on broadcasts are not visible to in-stadium audiences
50
E-Sports
Video games and competitive gaming (e-sports) have emerged Corporate Social Responsibility Athletes and sports organizations are more involved in social and environmental causes Affects brand partnerships and marketing strategies
51
Early forms of entertainment
Theatrical performance, storytelling, sports Religious and political functions Medieval & Renaissance Europe - Shaksperean England - 1500s to 1600s
52
18th-19th century - the rise of pop culture
- Theater and opera - rise of middle class - Circuses and fairs
53
Late 19th, early 20th century - mass entertainment
- Radio broadcasting (1920) - soap operas started airing in 1925 5x per week - Film industry
54
The Golden Age (1920s till 1950s)
The studio system - paramount, warner brothers, etc. controlled every aspect of film production - global role Television - decline of movie going experience
55
Expansion (1960s-1990s)
Television (many networks available now - able to cater to all target markets) Music - introduction of cassettes and CDs Videos games - home consoles such as Atari and Nintendo Internet - invented in 1983
56
The digital age (2000s - now)
- Internet and streaming Social media - 2+ forms of entertainment: Marvel, Disney Star Wars: multi-billion dollar franchises - Video games, tv shows, movies, theme parks, merchandise

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