Exam 2 Flashcards
Five strategic components about marketing management?
- Visualize and position the organization.
- Clarify your goals and objectives.
- Develop a marketing plan.
- Integrate the marketing plan into a broader strategic allocation of resources, that ensure success.
- Control and evaluate the plans implementation.
Step 1. Visualize and position the org.
Mission statement – SWOT Analysis
Step 2. Clarify your goals and objectives.
S-Specific M-Measureable A-Achievable R-Relevant T-Timebound
Step 3. Develop a marketing plan.
Marketing segmentation and identifying key targets.
Step 4. Integrate the marketing plan into a broader strategic allocation of resources, that ensure success.
Need to ensure there will be more executives supporting the plan, coordinate four P’s across the organization, and blend the four p’s to build packages valued by customers.
Step 5. Control and evaluate the plan’s implementation.
Analysis, evaluation, and control should be everyday events.
Consumer Behavior
The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on theconsumerand society.
Socialization
The process by which individuals assimilate and develop the skills, knowledge, attitudes, and other “equipment” necessary to perform various social roles. This involves two‑way interaction between the individual and the environment.
Three Ways for involvement
Behavioral Involvement: The “Hands On” doing.
Cognitive Involement: The acquisition of knowledge and information about a sport.
Affective Involvement: The attitudes, feelings, and emotions the consumer has about an activity.
Perceptual Issues in Sports
- Facility Cleanliness
- Exposure to Violence
- Inside and outside the venue.
- Exposure to adult/bad behavior
- Rick of injury or embarrassment
Consumer decision making process
- Need recognition
- Awareness and information search
- Evaluation of choices
- Purchase decision
- Experience
- Evaluation
- Post-evaluation behavior
Market Segmentation
The process of dividing a large, hetero-geneous market into more homogeneous groups of people, who have similar wants, needs, or demographic profiles, to whom a product may be targeted
Purpose of segmentation?
- Focus on the most likely to buy
- Meet wants and needs without exhausting resources
- Provide product, price, promotion, place, and public relations in the proper way
Target Market must haves…
- Homogenus Market
- Heterogenus between
- Substantial…No money no market
Four main basis of segmentation in sport marketing
State of being - Demographics State of mind - Psychographics – VALs Survey Product benefits/Product usage - 80/20 rule – 80% Revenue from 20% of customers Geographic
Identifiability
Can marketer identify a segment? (thru demographics, etc.)
Accessibility
Can the market access the segment?
Responsiveness
Will the segment be responsive to marketing efforts in terms of wants and needs, and is it worth targeting the segment?
The sport product
The sport product is any bundle or combination of qualities, processes, and capabilities that a buyer expects will satisfy wants and needs.
- It is inconsistent in nature.
- The game itself is only a small part of the ensemble.
- The sport marketer has little control over the game itself.
The event experience
- Game form
- Players
- Equipment
- Venue
Product extensions
Coaches Tickets Luxury boxes Programs Video screens Music Memorabilia Mascots
Star Quality Article
Star Quality determined by all star votes
The presence of Star Quality increases NBA live attendance: 1 million All-Star votes=1024 additional fans attending a game.
Strong conference competitive parity increases attendance at the league level
Increased probability of Home Team win increases attendance at the game level.
Catching Hell Doc.
Socialization Examples
Interviewed fans with deep knowledge of the curses involved with the Red Sox and Cubs (Curse of the Bambino & Curse of the Billy Goat)
Catching Hell Doc, Cont.
Examples of Birging
Negative side of Birging – Cubs fans get violent towards another fan for causing the loss.
Catching Hell Doc, Cont.
Public Relations
The Cubs did not handle the situation well by not getting in front of the story and pushing blame away from Steve Bartman (the fan the knocked the ball away).
Because of this lackluster PR performance the media pounced on Mr. Bartman going as far as publishing his home address and where he worked.
Theory of reasoned Action
Consumers consider what others think about them, even when it comes to sports.
Therefore, not only does a personal attitude or individual factor effect a purchase decisions, but also subjective norms or environmental factors will be considered during consumer purchase decisions.
Perception
The process by which a person scans, gathers, assesses, and interprets information in the environment
Depends on the characteristics of the person, situation, or thing perceived (stimulus factors) and the characteristics of the perceiver (individual factors)
