Chapter 12 - Marketing Flashcards
sport marketing
all activities designed to meet the needs and wants of sport consumers through exchange processes
elements of sport marketing
- marketing sports products and services directly to consumers
- marketing other consumer or industrial products and services through sport promotions
differences between sport marketing and traditional marketing
- sport is intangible, subjective and experiential
- sport involves emotion
- sport is unique to individuals
- sport is socially consumed
- sport experiences and events are unpredictable
- sport considers themselves experts
* 7. sport is PERISHABLE
what is marketed during sports
- products
- services
- entities
marketing mix ( 4 P’s )
- product
- price
- place
- promotion
elements to developing a sport marketing plan ( 10 P’s )
- purpose
- product
- projecting the market
- positioning
- players
- packaging
- pricing
- promotion
- place
- promise
step 1 for developing a sport marketing plan
- identify the purpose of the sport marketing plan
2. outline goals (summary of outcome) and objectives (activities that enable competition )
step 2 for developing a sport marketing plan
- analysts the sport product
- dynamic and complex nature of sport product
- dimension of the sport product
- core product
- product extension
- product life cycle
core product
uncertainty of game outcome
examples of product extension
mascots, music, concession, halftime or intermissions
product life cycle
- introduction stage
- Growth stage
- Maturity stage
- Decline stage
step 3 for developing a sport marketing plan
analyze market conditions (project the market climate)
- influence market conditions
- assessing sport climate
SWOT analysis
- Strength - focuses on internal of the organization
- Weakness - focuses on internal of the organization
ex. Managers, athletes, workers - Opportunities - The environmental factors to the external of the organization
- Threats - The environmental factors to the external of the organization
ex. External stakeholders
step 4 for developing a marketing plan
position the sport product
- differentiating the product from completing products
- creating distinctive image of the product
branding
using a name, design, or symbol to differentiate a sport product
brand equity
the added value to a product through the brand compared to a product without the brand
brand loyalty
how loyal an individual is to a brand
step 5 fro developing a sport marketing plan
segment and target consumer groups (pick the players)
- analyzing and targeting consumers
- market segmentation (ex. demographics, media preferences, and purchasing behaviour)
step 6 for developing a sport marketing plan
package the sport product
- presenting the product in the best possible manner
- packaging ( tangible sport product, core product and product extension)
- licensed merchandise and sport sponsorship
step 7 for developing a sport marketing plan
price the sport product
- determine value
- price is the most visible and flexible element
- factors to consider when developing pricing strategies (consumer, competitor, company, and climate)
step 8 for developing a sport marketing plan
promote the sport product
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step 8 for developing a sport marketing plan
promote the sport product
- communicating the desire image
- educating and informing target audience
- persuading target audiences to purchase
elements of promoting strategy
- advertising
- publicity
- activity and inducements
- public relations
- community relations
- media relations
- personal selling
- sponsorship
step 9 for developing a sport marketing plan
place: distribution the sport product
- product location
- distribution point of origin
- geographic location of target markets
step 10 for developing a sport marketing plan
evaluating the promises of the sport marketing plan
- evaluating the extent to which plan met its promise
- obtaining and analyzing feedback from internal and external source
market research
information needed to develop marketing plan (product, target consumers, social/economic/cultural tends, direct and indirect competitors )
ambush marketing
marketing activities that attempt to capitalize on the popularity of events by inferring some kind of link between the event and product
