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sports and marketing > lesson 1 > Flashcards

lesson 1 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

business to business: higher prices items; focusing on personal selling

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3
Q

B2C?

A

Business to consumer: focus on consumer good; investing in demand and popularity

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4
Q

4P?

A

Product, Price, place, Promotion

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5
Q

Place vs convenience:

A

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

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5
Q

6 Marketing core standards

A

Distribution
Marketing information management
Pricing
Product/service management
Promotion
Selling

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6
Q

Price vs value

A

price is what you pay, value is what you get

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7
Q

marketing through

A

coke through Superbowl

meghan Trainor through elf ads

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8
Q

marketing with

A

marvel movie trailer

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9
Q

Need

A

essential for survival, wellbeing and functionality

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10
Q

want

A

desires going beyond necessities

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11
Q

Maslow’s hierarchy of needs

A

Self actualization - reaching full potential
Esteem - feeling of accomplishment
Love and belonging
Safety needs
Psychological needs

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12
Q

Disposable income

A

income after taxes - before other bills

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13
Q

Discretionary income

A

after paying bills

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14
Q

Gross income

A

what you get

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15
Q

Technology

A

enhance shopper experience - vr and online shopping

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16
Q

Decision making process

A

Need/problem recognition
Information search
Evaluation of alternatives
Purchase decision
Post-purchase evaluation

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17
Q

Demographics

A

age, gender, etc.

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18
Q

Psychographics

A

interests, hobbies, beliefs

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19
Q

Behavior

A

purchase behavior; habits

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20
Q

Geographics

A

urban, rural, suburban

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21
Q

11 Categories of sports

A

-Professional athletes
-Recreational
-Amateur
-College/Uni - NCAA/U
-High School sports
-E sports
-Olympic sports
-Paralympics and special olympics
-International sporting events
-Women’s sports
-Extreme sports

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22
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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23
Q

Recreational

A

for fun: golf, bowling hiking, skiing

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24
Q

Amateur

A

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

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25
Q

College/Uni

A

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

26
Q

highschool sports

A

pride and tradition

27
Q

E sports

A

competition of video games

28
Q

Entertainment is:

A

Whatever people are willing to spend their money and spare time viewing rather than participating in

29
Q

5 Categories in entertainment

A
  1. Live performances
  2. Digital Entertainment
  3. Sports and Games
  4. Social and Interactive Entertainment
  5. Artistic Expression
30
Q

live performances:

A

Theaters and concerts
Theaters are historical - storytelling
Energy and interaction from audiences

31
Q

Digital Entertainment

A

Tv shows, movies, podcasts, YouTube
Accessible content anytime

32
Q

Sports and Games

A

Professional sports
E sports

33
Q

Social and Interactive Entertainment

A

Amusement parks, escape rooms, festivals, fairs, etc.
Physical and social interaction

34
Q

Artistic Expression

A

Art exhibitions, museums, dance performances, literature readings.

35
Q

direct competition

A

Offering same or the similar products to the same target market

36
Q

indirect competition

A

Companies or entities offering different products or services that can satisfy the same customer needs or wants

37
Q

Overcome competition: Differentiation:

A

stand out from competitors; create different brand, product, or service

38
Q

Overcome competition: Innovation:

A

new product, service, or processes

39
Q

Overcome competition: Customer experience:

A

improve customer service; offer luxury seating, early access

40
Q

Overcome competition: pricing strategies

A

implementing pricing strategies (not sustainable long term)

41
Q

first ever radio broadcasting

A

1921

42
Q

First ever professional league

A

England/wales

43
Q

Oldest trophy:

A

Stanley cup

44
Q

National football league is how old?

A

104 years

45
Q

First olympic games:

A

776 BC

46
Q

19th century in sports:

A

Saw rules and organization of sports turn into leagues
Starting with cricket/soccer in Britain

47
Q

Industrial Revolution in sports:

A

Brought about urbanization
meaning more time for engaging and watching sports

48
Q

Late 19th century in sports:

A

Separation between amateur and professional athletes
Professionals getting paid in sports like boxing and baseball (MLB, 1876)

49
Q

Early 20th Century in sports:

A

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

50
Q

William “Bill” Veeck

A

Owned 2 baseball teams - cleveland indians and chicago white sox
Introduced grandstand-style entertainment to fans:
Fireworks
Dazzling scoreboards
Special-event nights

51
Q

Mid 20th Century in sports - Commercialization + Globalization

A

Television: Became dominant medium for sports; Massive viewership led to huge advertising opportunities; Instant replay + slow-motion technology used (1967 Super Bowl)
Corporate Sponsorships: Sponsorship deals ; Branded stadiums; Athlete endorsements

52
Q

Late 20th Century in sports - Modern Sports Business

A

Athletes become global icons: Lucrative endorsement deals
Sports Marketing - a specialized industry: Broadcasting rights, sponsorships, licensing and merchandising all become essential revenue for leagues, teams and athletes.
Expansion of leagues and franchises: Teams expand globally through international games; Leagues opened up to global audiences with larger media deals

53
Q

21st Century in sports - Digital Age and Global Reach

A

Digital Media: Internet and digital media have transformed how we consume sports; Able to follow favorite teams and athletes beyond traditional TV; Digital billboards in stadiums; Networks using AR and VR to display ads that appear on broadcasts are not visible to in-stadium audiences
Result: Dynamic, and more personalized ads + max. revenue

54
Q

E-Sports

A

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

55
Q

First known occurrence of concerts:

A

1672

56
Q

Broadway’s first long-run musical called The Elves was in:

A

1857

57
Q

First radio soap opera aired in:

A

1925

58
Q

Early forms of entertainment:

A

Theatrical performance, storytelling, sports
Religious and political functions
Medieval & Renaissance Europe: Plays, music, dance; Shaksperean England - 1500s to 1600s

59
Q

18th-19th century - rise of pop culture

A

Theater and opera - rise of middle class
Circuses and fairs

60
Q

Late 19th, early 20th century - mass entertainment

A

Radio broadcasting (1920) - soap operas started airing in 1925 5x per week

Film industry
Louis Le Prince made the first moving pictures in Britain in 1888.
In the late 1890’s Thomas Edison invented the kinetoscope, a device for viewing moving pictures
The Lumiere brothers were the first to present a projected movie to a paying audience - Paris 1895
Promotion of films > construction of movie theaters
Silent films until 1927

61
Q

The Golden Age in entertainment (1920s till 1950s)

A

The Golden Age (1920s till 1950s)

62
Q

Expansion in entertainment (1960s-1990s)

A

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

63
Q

The digital age in entertainment (2000s - now)

A

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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