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Sports Marketing > Final Exam > Flashcards

Final Exam Flashcards

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Sports Trivia flashcards
1
Q

What is a brand?

A

A name, term, sign, symbol, sound or combination of them intended to indetify the goods and services of a seller and to differentiate them from the competition

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2
Q

What is the main purpose of Branding?

A

To transform generic products into products with an image
Way to distinguish the goods of one producer from another
Differentiation is the key
Adds Value

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3
Q

What are the 5 functions of Branding?

A 
Builds top of mind awareness
Creates personality
Consistent despite fashion and fads
Self-defining
Makes lasting impression
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4
Q

Why is branding important to the consumer?

A

Eases information processing
Increases confidence in purchase
Assignment of responsibility

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5
Q

Why is Branding Important to the organization?

A

Increases efficiency and effectiveness of marketing programs
Aides in customer retention
Helps protect price
Increased merchandising and licensing opportunities
Overall… It provides a competitive advantage

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6
Q

What is Brand Equity

A

The added value associated with a brand that is not captured by the functional attributes

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7
Q

3 consumer based equity models?

A

Aaker’s model
Keller’s Model
Sport Brand Equity Model

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8
Q

Brand Associations

A

Anything linked in memory to the brand

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9
Q

Four examples of Associations

A

Brand as Product (Physical Attributes)
Brand as Organization (Corporate Culture)
Brand as Person (Personaility)
Brand as Symbol (Swoosh)

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10
Q

Sources of Brand Associations in Team Sport

A 
Team Success
Team History
Team play characteristics
Logo
Social interaction
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11
Q

What does the BLIP model stand for?

A

Building Brands
Leveraging Brands
Identifying and Measuring Brands
Protecting Brands

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12
Q

Why BLIP Model is needed?

A

Tendency to over-concentrate on important issue of brand building

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13
Q

How to build a strong brand?

A

The organization must create favorable associations

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14
Q

What are the 7 p’s?

A 
Product
Place
Promotion
Price
People
Physical evidence
Process
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15
Q

Three Strategies of Brand Building

A

Reinforce the brand
Revitalize the brand
Adjust the brand portfolio

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16
Q

How do marketers Leverage their Brands?

A

Make decisions on how to best utilize their brand assets

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17
Q

Utilize established equity to create:

A

Line Extensions
Brand Extensions
Co-Branded Products

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18
Q

What is a Line extension?

A

Adding a new form of product or service in the same product category

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19
Q

What is a Brand Extension?

A

Entering products/services with an existing brand name into a new product category

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20
Q

Failed extension could…

A

Dilute the brand equity of the parent brand

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21
Q

What determines success of a Brand Extension?

A

Perceived quality of the brand introducing the extension
Attitudes and Associations one has for the parent brand
Product category fit
Fan Identification levels

22
Q

Dilution is more likely to occur for fans at _______ and _____ levels of Identification

A

Moderate and Low

23
Q

Dilution is _______ for extensions with a _______ perceived fit and has _________ attributes

A

Greater. Greater. Inconsistent

24
Q

How do you measure brand equity?

A

By conducting research to determine items such as attitudes and associations towards the brand.

25
Q

Quantitatively?

A

Survey and Financial measures

26
Q

Qualitatively

A

Thought listing technique
Brand Collages
Developing concentric circles

27
Q

Two ways to protect a brand:

A

Legally protect the brand (Trademark/Copyrights)

Institute policies to avoid dilution of brands

28
Q

Licensed Products

A

Products which bear the name and logo of any sport team.
Created by an outside company
(Chicago Bears wear Nike jerseys)

29
Q

Branded Products

A

Proucts which bear the name of the manufacturer.

(Nike Sweatshirt

30
Q

Licensees

A

Organizations which manufacture the merchandise

31
Q

Licensor

A

Organization which grants the right to the licensee to use the team name, logo or images

Hoosiers allow adidas to make apparel

32
Q

Why do brands license?

A 
Generate brand recognition
Increase revenues among fans and general public
Generate interest among fans
Little Financial risk
Fans want to associate with the team
33
Q

How does the process of licensed merchandise work?

A
  1. Licensee assumes all risk by manufacturing the product
  2. Licensor approves use of trademark and design
  3. Licensee pays licensor a royalty for the use of the trademark
34
Q

The royalty is based on?

A

Gross sales

Typically ranges from 4-20%

35
Q

Trademark infringement:

A

Any reproduction, copying or imitation of registered mark

Does not need to be identical just very similar

36
Q

What is the Rold of the Players Association licensing

A

Approve and manage licenses for player names and likenesses

37
Q

What is Rebranding?

A

Changing to communicate a different message

38
Q

What is Price?

A

The exchange value of a good or service and the value of an item in the marketplace
Critical element of the marketing mix

39
Q

Satisfaction=

A

Benefit - Cost

40
Q

Fan Cost Index

A

Total cost to attend a sports event.

Marketers must also be concerned with value, not just price

41
Q

Capitation Pricing

A

Offering a price “per head”

Typically used on a group basis

42
Q

Elasticity of Demand

A

How sensitive the market is to a price change

43
Q

Inelstic

A

Increase in price will mean increase in profits

44
Q

Elastic

A

Increase in price will mean decrease in profits

45
Q

Variable Pricing

A

Changes based off of who team is playing

46
Q

Dynamic Pricing

A

Changes based of of supply and demand

47
Q

Why us dynamic pricing?

A

More flexible
Uses date to make decisions
Allows for adjustments to factors a marketer can not control

48
Q

Where did Catherine go to College

A

SMU

49
Q

What is Catherine’s Job?

A

Assistant Director of Marketing

50
Q

What is Scripting?

A

Theatrical Production

Master of Synchronization

51
Q

What is an Olympic Sport Prize Partner?

A

Offer product in exchange for promotional activity at IU Athletics Olympic sporting events

Sports Marketing (2 decks)

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