midterm 1 Flashcards
sport consumers
participants
fans
product
tangible or intangible good or sevice
result of a process
delivered to consumer or end user
approaches to sport marketing
marketing of sport
marketing through sport
marketing of sport
satisfy consumers interest in participating in sport
marketing through sport
reach consumer through an association with sport
sponsorship/endorsement
seperability
goods -> production is seperated from consumption
services -> production and consumption are simultanously
what can be a product be broken down
goods and services
heterogeneity (Verschiedenartigkeit)
made up of different parts
goods - standardized/mass - production
services - heterogenous. no two games/services are the same
intangibility (nichtgreifbarkeit)
goods: tangible (able to own)
services: intangible
perishability (Vergänglichkeit)
goods: non pershiable, can be kept after purchase
services: pershiable; cannot be safed
uniqueness of sport market
sport orgs. simultanously compete and cooperate
allience (Verbindung) and strong personal identification
uniqueness of the sport product
seperation from normal space and time special facilities and equipment experimental inconsistency and unpredictability core product beyond marketers control
awareness connection to a sport team
knowledge of the team, but not thought or feeling
attraction towards a sport team
preference for a team
hedonic motive
attachement to a sport team
identify with a team
values align
allegiance (Loyalität) with a sport team
complex relationship
resistance to alternatives
uniquenesses of financing sport
product pricing hidden costs (additional to admission: parking, drinks...) importance of indirect revenues
sport pricing
sport service pricing is difficult
dynamic pricing (price changes based on teams or personell)
difficult but not unique
indirect revenue
tied to ancillary (extra) product ticket sales club seating corporate sales often greater than direct revenue
direct revenue
tied to core product
merch
sponsorship
media rights
5 steps of an strategic marketing plan
scan and analyse self clarify strategic objectives and goals develop a marketing plan integrate marketing plan into strategic use of recourses to ensure success control and evaluate
step 1 of marketing plan - scan and analyse self
interal contingencies (Mission and Vision) external contingencies (understand environment; competition, tech, social issues, politics, demographics...)
competition
knowledge and awareness of organizations in same business that compete for same customer
direct competitors
same product - can be same or different core product
indirect competitors
satisfy same needs/wants
substitue product
similar product
impact technology has on marketing function
promotion (virtual advertisment)
distribution (info via internet)
sales (downloadable tickets)
development of sport product product through technology
equipement design
broadcasting
product adaptions (review of plays)
method to analyze self and environment
SWOT Analysis
Internal capabilities of a SWOT Analysis
are controllable
Strenghts and weaknesses
external capabilities of a SWOT Analysis
are uncontrollable
opportunities
threats (often related to competitior)
organizational goal of step 2 of a strategic marketing plan - clarify strategic objectives and goals
helps to focus on purpose
long-term pupose based on mission statement (e.g, increase sponsorship revenue, fan engagement)
financial goals
specification on revnues and profit an organization wants to make
strategic goals
achievements an organizaton wants to make in terms of long-term marketing and competetiveness, increase marrket share
objective
short term purpose
measureable and time limited
guide the marketing process
(e.g. increase ticket sale by 5% next year)
characteristics of objectives
suitality - must support organization´s mission and vision
linkage - developed to achieve broad objectives
measurability - must be evluated over time frame
feasibility - accomblishable
acceptability - agreed upon all org. levels
motivating - be attainable but challenging
important part of step 3 develop marketing plan
market selection
market selection
segmentation
targeting
positioning
market segmentation
state of mind
stae of being
product usage
product benefit
targeting
sizable
measureable
reachable
behavioral pattern (consistent)
positioning
how do we want people to think about our product
marketing mix decisions
based on multiple decisions
primary activities to implement plan
organization leadership & interaction recource usage coordination and timing of activities info management
organiziation to implement marketing plan
how organization should be structure for plan
grouping of tasks into units
leadership and interation of implementing marketing plan
understand roles (feedback and suggetion regarding plan) motivating work force
recources acquistion and usage
organization needs to have people with skill, equipment and money to put plan into action
influenced by economic environment
coordination and timing of activities to implement marketing plan
securing human, finacial and technological recources
activities must be carried out in timely manner
E.g. coordinationg between units (season ticket increase mailed on fan appreciation night - bad)
info management of implementing marketin plan
info about plan must be transported to correct people
info about target is vital to develop mix elements
feedback is for control phase
step 5 of a strategic marketing plan - control and evaluate
measuring results of plan take actions to ensure that goals and objectives are achieved
steps of control and remote
measuring results -> compare results to objectives & goals -> communicate results -> modify the play as needed
measuring results
sales analysis
profitability analysis
customer satisfaction
market audit (prüfen)
what should a mission statement include
what business the organization is in
who the organizations customers are
how the organization seeks to satisfy their customers´ needs/wants
external contingencies of step 1 - scan and analyse self
outside org. - can impact marketing process competition tech cutural/social issues physical environment legal/political issues demographics economy
physical environment
natural recources that can impact sport product
climate
conservation (golf course maangement, materials for sporting goods)
political and legal environment
sociel issue and laws impacting sport product and marketing monopolies in sport taxes sympols and mascots tile IX
demographics
impact of poulation trends on sport product and marketing
age, population size, ethics, races, income…
economic environment
macroeconomics - events on national/international level impacting consumer spending
microeconomics - individual level spending
how do we receive information about consumers
consumer profiles
emails
social media
competitors
what do we want to know about our consumers
state of being
state of mind
behavioral variations
product usage
types of data
primary
secondary
primary data
data we collect ourselves for specific purposes (surveys)
secondary data
data collected by others that we use for our purposes (buying database)
pros and cons of sport consumer data
secondary data - extensive but general potential bias (vorurteil) in secondary data
what approach can be used to look at info more detailed
scope and frequency approach
irregular narrow studies of the scope and frequency approach
commissioned or paid study
infrequent - one time
narrow focus - info about specific question
irregular broad studies of the scope and frequency approach
infrequent - one time
broad in scope - lot of general info
info not specific
challenges of irregular broad studies
how to identify sample
how to reach participants
how to get people to respond
regular narrow studies of scope and frequency approach
focus on specific sample
conducted frequently
identify tends over time
what are regular narrow studies important for
to evaluate marketing outcomes against goals and objectives
regular broad studies of scope and frequency approachj
conducted frequently
focus on general info
like annual study
individual factors that influence consumer´s behavior
lifecycle stage/family lifecycle stage
physical characteristics
self-concept/self-esteem
lifecycle stage
comprises (beinhalten) stages a person experiences over life
family lifecycle
single, married, children, empty nester…
physical characteristics
skills and abilities needed to participate
body types and physical skills
self - concept
what i think or believe about myself
self - esteem
the pos./neg. evaluations we have of our self
matrix of self
actual self
ideal self
social self
ideal social self
types of variables
psychographic (what people are thinking, motives)
demographic (race, sex, age)
behavioral (product usage)
motives of sport consumers according to Sloan
salubrious effect (recreation) stress and stimulation seeking catharsis (release aggression) entertainment achievement-seeking
what step is Segmentation part of in the strategic marketing process
step 3 - develop a marketing plan -> market selection
what is segmentation
process of dividing market into groups of consumers
why do we need to do market segmentation
create bridge between managerial analysis and managerial action
what is market segmentation based on
info received from market research
what are factors that need to be considered for a market segmentation
different view, needs/wants, capabilities
what is market segmentation based on
demographics
psychographics
behavioral
not just one way to segment market - sometimes multiple segments targeted with one product
demographics
sex
age
socioeconomics (income)
psychographic
psychological connection
motives
behavioral
product usage
level of consumption
best way to achieve most effective resutls
combination of different variables/segmentation to be most effective
market selection decisions - targeting
is sizable
measurable
reachable
behaviroal pattern (consistent)
what does demographic data tell us about the consumer
who are the sport consumers
what does psychographic data tell us about the consumer
what are our sport consumers thinking
what does behavioral data tell us about the consumer
what are sport consumers doing
what is amrketing
process
promotion
selling
advertising
what makes the sport industry estimate
revenue from pro sport orgs. operating income from pro sport orgs. spectators sporting goods stores (retail) media contracts
uniqueness of sport promotion
high media exposure
positive - wide exposure
negative - focus on poor behavior
