LESSON 14 - sport marketing Flashcards
TRUE OR FALSE
marketing is a complex function ?
TRUE
name some unique characteristics of sport :
- aspects of sport are intangible
- sport involves emotions
- sport is subjective and heterogeneous
- sport is generally socially consumed
- sport experiences are inconsistent and unpredictable
- sport is perishable
what is the marketing mix ?
is the set of controllable elements or variables that a company uses to influence and meet the needs of its target customers in the most effective and efficient way possible
how many Ps are there in the marketing mix ?
4
what are the four Ps ?
- product
- place
- price
- promotion
what is the purpose of the four Ps ?
- central to the sport marketing plan
- manipulated by sport marketers strategic and tactical plans
- integrated with other elements for optimal success
what are the steps for process for developing a sport marketing plan :
STEP 1 - identify the purpose of the sport marketing plan
STEP 2 - analyze the sport product
STEP 3 - analyze market conditions (SWOT)
STEP 4 - position the sport product
STEP 5 - segment and target consumer groups
STEP 6 - package the sport product
STEP 7 - price the sport product
STEP 8 - promote the sport product
STEP 9 - distribute the sport product
STEP 10 - evaluate the sport marketing plan
when analyzing market conditions what must you do ?
- influence of market conditions
- assess the sport climate : examine internal and external factors
what should marketing plans do :
- maximize strengths and opportunities
- minimize weakness and threats
what is the SWOT analysis ?
a strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning
what does SWOT stand for ?
- strengths
- weaknesses
- opportunities
- threats
describe the SWOT analysis of womens professional basketball :
Strengths:
Talent and Skill Level: Women’s professional basketball features highly skilled athletes, showcasing exceptional basketball abilities.
Global Popularity: The sport has gained popularity worldwide, attracting a diverse and broad fan base.
Role Models: Successful women players serve as inspirational role models for aspiring athletes, contributing to the growth of the sport.
Media Coverage: Increased media coverage, both traditional and digital, has helped raise awareness and promote the sport.
Weaknesses:
Gender Pay Gap: Women’s professional basketball often faces challenges regarding pay equity compared to their male counterparts.
Limited Sponsorship: The sport may have fewer sponsorship opportunities compared to men’s basketball, impacting financial support.
Unequal Resources: Disparities in resources, facilities, and training opportunities can affect the overall competitiveness of teams.
Opportunities:
Global Expansion: There is an opportunity to expand the reach of women’s professional basketball to new markets, tapping into a broader audience.
Media Partnerships: Forming strategic partnerships with media outlets can enhance visibility and coverage of women’s basketball.
Increased Investment: Attracting more investment from sponsors, advertisers, and investors can positively impact the growth and sustainability of the sport.
Community Engagement: Engaging with local communities and grassroots initiatives can help build a stronger fan base and encourage participation at all levels.
Threats:
Competition with Other Sports: Women’s professional basketball faces competition with other popular sports for viewer attention and sponsorship.
Inequality Issues: Ongoing challenges related to gender inequality in sports may hinder the development and support of women’s basketball.
Economic Challenges: Economic downturns or financial crises can impact the financial stability of leagues, teams, and players.
Lack of Infrastructure: In some regions, a lack of proper infrastructure, including training facilities and coaching programs, can impede the growth of the sport.
define “position the sport product” :
- differentiating the product from competing products
- creating a distinctive image of the product
- elements of effective communication practice
what is branding ?
using a name, design, or symbol to differentiate a sport product
what are the four brand ________ in regards to branding :
brand awareness
brand image
brand equity
brand loyalty
