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Kin 151 Sport and Fitness Marketing > midterm 2 > Flashcards

midterm 2 Flashcards

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Sports Trivia flashcards
1
Q

what is a product

A

good or service

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2
Q

differences between goods and services

A

seperability
heterogeneity
intangibility
perishability

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3
Q

what makes a sport product unique

A

core performance is one element of larger ensemble

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4
Q

what does the sport experience include

A 
atmosphere
equipment
music/entertainment
concession/food
pre-/post-game activities
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5
Q

relation between the marketer and the sport product

A

marketer has little control over core product

focus on extensions

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6
Q

core elements of the sport product

A 
apparel/equipment
rules, technique
venue
fan behavior
personnel and process
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7
Q

extensions of sport product

A 
tickets, programs (printed material)
memories, artifacts
hybrid products
the organization
electronic products
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8
Q

key issues in sport product strategy

A 
differentiation
product development
product position
brands 
product and brand cycles
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9
Q

differentiation

A

marketers must consider consumers and competitors simultanously
product must be distinct

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10
Q

product develoment

A

marketing is a process
continous development of product
generation of ideas
screen/implementing ideas

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11
Q

5 perceptual issues in product development

A 
relative advantage of new product over old preferences
complexity in adoption and use
compatibility with consumers values
divisibility into smaller portions
communicability of benefits
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12
Q

product position

A

consumer´s image of the product

contributed by elements of sport product

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13
Q

five images to consider in product position

A 
trademark imagery (logo of org.)
product imagery (apparel, team performance)
associative imagery (association with product)
user imagery (consumers of particular product)
usage imagery (frequency of use, high-tech)
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14
Q

brands and branding

A

brand building never ends

can be communicated through names, logos, images, associations

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15
Q

brand equity

A

added value of a product from its brand

brand recognition

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16
Q

elements of marketing mix

A

product
price
promotion
place

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17
Q

dynamic pricing

A

based on the marketer´s sense of consumer demand for certain seat, time of day, priveledge

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18
Q

fixed pricing

A

everyone pays the same price for a product (same price for every seat)

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19
Q

what do sport marketers need to consider related to sport pricing

A

what strategy for right price
what factors influence price
will financial benefit of increasing prices offset neg. fan relation

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20
Q

what is price

A

price paid by consumer is a function of the value placed on sport product
statement of value
exchange for benefit of using product

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21
Q

why is price a critical element in the marketing mix

A

only element that produces revnue - others cost
most flexible marketing mix elements
can be readily changed and easily communicated
has direct impact on company´s bottom line (overall profit)

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22
Q

core issues of pricing vs. cost

A

price of ticket does not represent realt “COST” of attendance
sport marketers must appreciate total cost from consumer´s perspective

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23
Q

what happens if the company prices the product below its cost

A

profits will suffer

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24
Q

price floor

A

no profit below this price

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25
Q

Fan Cost Index (FCI)

A

measures real price to attending a game

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26
Q

examples for FCI price elements

A 
2 adult average price tickets
2 child average price tickets
four small soft drinks
four hot dogs
parking
...
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27
Q

what is consumer´s perception of value based on

A

own unique experiences with sport product

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28
Q

value satisfaction

A

perceived benefit - total cost

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29
Q

price ceiling

A

no demand above this price

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30
Q

2 forms of major pricing strategies

A

customer value-based pricing

cost-based pricing

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31
Q

customer value-based pricing

A

setting price based on consumers´ perceptions of value ather than on the seller´s cost

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32
Q

steps of customer value-based pricing

A

assess customer needs and value perceptions
set target price to match customer perceived value
determine costs that can be incurred
design product to deliver desired value at target price

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33
Q

cost-based pricing

A

price based on costs for production, distribution and selling + rate of return its effort

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34
Q

steps of cost-based pricing

A

design product
dtermine costs
set price based on costs
convince buyer of product´s value

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35
Q

what can pricing be determined by

A

internal and external factors

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36
Q

internal factor of pricing

A 
product
promotion
distribution
cost
organization objectives
37
Q

external factors

A 
consumers demand
competition
legal
economy
technology
38
Q

pricing objectives

A

consideration of organization´s objectives when setting product prices

39
Q

factors of pricing objectives

A

profit
survival against competition
max product exposure and distribution
positive user atiitudes or image

40
Q

how do we distribute a sport product

A

at the facility (location, layout, image)

other distribution channels (retail distribution, ticket sale)

41
Q

hwy does mullin say the place is the most important choice a marketer need to make

A

often long-term range implication

harder to change

42
Q

what does the place include

A 
sport facilities
surrounding areas
artifacts
history/memories
ideologies
experiences 
aesthertics
problems
43
Q

what needs to be considered related to a sport facility

A 
accessibility
design
layout
amenities
personnell
44
Q

accessibility of a sport facility

A

factors contibute to individuals willingness to travel to an event

45
Q

aspects of accessibility of a sport facility

A 
demographics
duration/frequency of the event
emotional commitment
perception of quality
parking
surrounding area
46
Q

design and layout of a sport facility

A

easier access, exit and intenal movement to minimize length of lines
access for consumers with physical disabilities
location/design/number of food services, bars, restrooms…
flexibility vs. dedicated usage
aesthetics

47
Q

amenities (Annehmlichkeiten)

A

connectivity
screen/display
sound system
upscale food & drink

48
Q

what is promotion

A

verhicle by which marketers convey info about product

communication tool

49
Q

what functions do promotions serve

A

inform (create awareness)
persuade (encourage action)
remind
position a product in the mind of consumers

50
Q

inform as part of promotion

A

introductory phase of product life cycle
important objective for targeting new consumers
important for product changes and extensions

51
Q

what needs to be considered for informing

A

to no take consumer´s awareness for granted

52
Q

persuade as part of promotion

A

convince consumer to purchase a product

53
Q

two stages of persuade

A

informaing (informational strategy)

persuading (transformational strategy) - satisfaction of cuónsumer needs

54
Q

remind

A

remind of product availability and benefit
maintain top of mind awareness
objective of reminding is retention
may use informational and transformational strategy

55
Q

position aspect of promotion

A

establish image in mind of consumer
goes beyond informing
establishing specific association

56
Q

repositioning a brand

A

has different reasons

57
Q

promotion mix

A 
advertising
sales
personal selling
publich relations
direct marketing
58
Q

promotion mix advertising

A

any paid form of non-personal presentation and promotion of ideas goods or services

59
Q

what does promotion mix advertising include

A

broadcast, print, internet, outdoor and other forms

60
Q

advantages of promotion mix advertising

A

reach mass audience
repeat a message
reflect seller´s popularity
build up a long-term image

61
Q

disadvantages of promotion mix advertising

A

only one-way communication

can be costly (TV)

62
Q

what does sales promotion include

A

discounts
coupons
displays and demonstrations

63
Q

advantages of sales promotion

A

attract consumer attention
offer strong incentives
invite quick response

64
Q

disadvantages of sales promotion

A

effects often short lived

not as effective as ad or personal sellin in building long run brand preference

65
Q

what does personal selling promotion include

A

sales presentation
trade shows
incentive programs

66
Q

advantages of personal sellin promotion

A

convey more and complex info of the audience

increase chance of developing long-term relationships by solving problems

67
Q

disadvantages of personal selling promotion

A

require long-term commitment but size of sales is harder to change
most expensive promotion tool

68
Q

what is public relations promotion

A

building good relations with other companies

69
Q

how does publich relations promotion work

A

obtaining favorable publicity
building good reputation
handling unfavorrable rumors, stories, events

70
Q

advatages of public relations promotion

A

more real and believable
dramatize company or product
message get to consumer as news rather than as ads

71
Q

disadvantages of publich relations promotion

A

never controlled by the public relations department weather a messafe is delivered, interesting, and important or not

72
Q

what does public relations promotion include

A

press releases
sponsorships
speciale vents
web pages

73
Q

what is direct marketing promotion

A

direct connection with targeted consumers

acquire an immediate response

74
Q

what does direct marketing promotion include

A 
direct mail
catalogs
telephone
mobile marketing
kiosks
...
75
Q

advantages of direct marketing promotion

A

message can be customized to sppeal to consumer
message can be altered depending on response
building on-to-one relationships

76
Q

disadvantages of direct marketing promotion

A

growing invadion of privacy concern

unwanted junk mail, spam

77
Q

what is the goal of promotion

A

move consumer through buying process

78
Q

what does promotion start with

A

understanding needs and wants

79
Q

promotion chain

A 
awareness
knowledge
linking
preference
conviction
purchase
80
Q

what is public relations

A

strategic communication process

builds benefitial relationships

81
Q

what do public relations include

A

anticipating, analyzng and interpreting public opinion, attitudes and issues
researching, conducting and evaluating on actions and communications
planning and implementing organizations effort

82
Q

what influences public relations

A

media relations + community relations

83
Q

what does media relations involve

A

formpulating and shaping favorable opinion through media

84
Q

subsections of media relations

A

proactive - shape/formulate
reactive - respond
interactive - work with

85
Q

community relations

A

activities that benefit community, which may foster community support, loyalty and goodwill

86
Q

subsection of community relations

A

corporate social responsibility (CSR)

87
Q

corporate social responsibility (CSR)

A

corporate citizenship

corporate philanthropy

88
Q

reputation

A

reciprocal of image

created by the audience

89
Q

perception

A

what the consumer thinks about a company is what matters

company can control the image that is send out but not what it reflects back

Kin 151 Sport and Fitness Marketing (3 decks)

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