Introduction to the Sport Integrated Marketing Mix Flashcards
What is a good?
Tangible products e.g. clothing or computers
What is a service??
Intangible products e.g. education, medical services
What are the 7 elements of the marketing mix?
1 Product (including service)
2 Pricing
3 Place
4 Promotion
Rest added to accommodate for services
5 People
6 Physical evidence
7 Processes
(Sponsorship-could be added for sport)What are the multiple layers of a product?
- Core benefit e.g. transportation
- Actual product- features,design, brand name
- Augmented product- delivery, after-sale service, warranty
What are some limitations of the marketing mix?
. Marketing considered more nuanced than a toolbox of marketing
. Marketing mix has alienated marketing departments and made firms less universally market-orientated
What is the product in the marketing mix and example
. Good/service offered
. level of performace-sustainable competitive advantage
What is the place in the marketing mix? and example
a) distribution channels- process to become the product e.g. factories to distribution centres
or
b)place where good/service is consumed e.g. stadium
What is price in the marketing mix? and example
What price for the product based on the price elasticity of the product e.g. stadium season ticket prices
What is promotion in the marketing mix? and example
Communication channels to target market e.g. advertising
What are people in the marketing mix? and example
Individuals in the organisation that aid in the marketing of the product e.g. manager,
What is physical evidence in the marketing mix?
Physical aspects that help to improve the delivery of a product e.g. aesthetic kit or attractive stadium
What are processes in the marketing mix?
Systems and activities helping to meet customers wants and needs e.g. refund for bad service e.g. refund fans for bad away performance
What is included in marketing communications?
. Communicating a good, service, or brand to customers
. Attempting to satisfy customers’ wants and needs successfully over rival brands
. Utilising one (or several) promotional tools to out-perform competitors and implement the marketing concept
What are the possible implications when the wrong marketing communications are sent?
. can harm brand particualrly small firms
. small firms that can barely afford advertising need it to work
. larger firms may be able to recover
What is included in the integrated marketing communications mix? and the additional element for sport?
. Relationship building and management . Advertising . Publicity . Personal contact . Incentives . Atmospherics . Sponsorship .(licensing)
What are the key characteristics of the integrated marketing communications mix?
. All the promotional tools that a business utilises
. The management and integration of such promotional tools‘ in an attempt to present a consistent message across the available promotional mix elements
. The performance outcomes of such promotional tools
Explain the disadvantage of the integrated marketing communications mix?
. Research suggests its rigid nature makes rapid responses to the environment more difficult
. Suggests a flexible integration should be developed=autonomy of departments to adapt the approach to market changes without be centrally controlled
Explain the Relationship Building and Management component of the integrated marketing Mix
. Networking and creating positive connections with customers
. key for sport as loyalty and emotional connection and paramount and so gaining loyalty is likely to be long-lasting
e.g. Twentry20 Cricket came about after loss in popularity of traditional 4-day cricket- ECB talked to consumers =success of new format bringing crowds in
Explain the advertising component of the integrated marketing communications Mix
. potential to reach global audiences with attractive/persuasive messages
. can be very costly & ineffective-not good for some small firms
e.g. adverts enticing pay-per-view boxing
Explain the publicity component of the integrated marketing communications Mix
. Managing information and bringing it to the attention of the public
. Football clubs have recently allowed Amazon documentaries= increased global awareness
. Negative publicity can harm brand e.g. Nike and Ronaldo rape case
Explain the personal contact component of the integrated marketing communications Mix
. aim is to bridge the gap to consumers
. important element of building loyalty
. e.g. meet the players and getting signed birthday cards when you become a member of a club
Explain the incentives component of the integrated marketing communications Mix
. All activities aiming to stimulate quick buyer behaviour
. price discounts, prize giveaways
.short term hit-long term gain
. bad experience after discount is a double hit for firm
Explain the atmospherics component of the integrated marketing communications Mix
Everything done to ensure consumption of good/service creates a good emotional value
. ensuring a good crowd noise, lights show all adds to atmospherics
Explain the sponsorship/licensing component of the integrated marketing communications Mix
Business agreement between two parties with mutual benefits
. e.g. aim of Nike/Adidas to compete for sponsoring as many footballers as possible-aim of achieving 360 deals-club, country, player
What is value co-creation?
. Creating value by working with customers
. Creating a customer experience
. Being more than market-oriented
. Improving business performance (e.g., sales)
What is value co-destruction?
. Creating negative relationships with customers
. When firms overload their customers with information
. Facilitating a poor customer experience
. Linking with the dark-side of marketing
