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Second Test Flashcards

1
Q

what are sports and entertainment

A

leisure activities for the purpose of enjoyment

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2
Q

who do sports and entertainment marketers always sell participation in sports or entertainment to

A

consumers

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3
Q

what is a consumer

A

people who use products; person who spends money on stuff (goods and services)

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4
Q

discretionary income

A

money left to spend after necessary expenses are paid

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5
Q

what has the growth of sports and entertainment relied on

A

customers with free time, discretionary income, and a desire for recreation

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6
Q

who were sports and entertainment originally made for and why

A

wealthy people; others could not afford the prices to go to different events

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7
Q

how were all people eventually able to go to all of the entertainment

A

wages were raised, better working conditions, and reasonable working hours for their members (people could now afford it all)

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8
Q

what else made entertainment more available to the working class

A

development of technology and some new inventions

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9
Q

kinetoscope

A

a device used to view a sequence of moving pictures; everyone could use it no matter what social class, so people really liked it

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10
Q

William “Bill” Veeck

A

key figure in the development of sports marketing (owned Cleveland Indians and the Chicago White Sox)

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11
Q

what did William “Bill” Veeck introduce

A

fireworks, dazzling scoreboards, special event nights, grandstand manager’s day (all of this made the games more valuable to fans

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12
Q

Adolph Zukor

A

founder of Paramount Pictures; knew how to get a crowd

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13
Q

what can’t you rely on today

A

cannot simply rely on the entertainment value of their products; need other aspects to complete the experience for people

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14
Q

vendors

A

sellers of products

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15
Q

what is needed to ensure that everything will go smoothly with entertainment and everything

A

a plan; will be based on demographics

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16
Q

product

A

a good or service that any for-profit industry sells to its customers; good or service bought or sold

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17
Q

what are celebrities and athletes used for

A

to advertise and start an exposure of different things on television, magazines, ads, or anything like that

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18
Q

what is basis of all marketing

A

4 P’s

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19
Q

what is sometimes considered the 5th P of that marketing mix

A

people

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20
Q

promotion

A

any form of communication used to persuade people to buy products

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21
Q

what is the difference between sports and entrainment products from traditional consumer products

A

sports and entertainment products are not physical goods that can be stacked on a store shelf; they are more dynamic

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22
Q

examples of that more dynamic aspect

A

tiger woods sells more than just golf stuff, esp. restaurant sells burgers and gods, not just tickets or stuff to places

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23
Q

endorsement

A

approval or support of a product or idea, usually by celebrity

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24
Q

what are celebrities used for and why

A

not only used in sports marketing; they are powerful marketing tools because they have a public persona

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25
what is public persona
personality perceived by the public
26
core product
the main product, such as sports event, move, stage show, or book (tangible)
27
ancillary product
a product related to or created from the core product (cane tangible/intangible
28
what can companies market products as in sports and entertainment and what can come from it
either core or ancillary products/ can earn additional revenue
29
revenue
gross income
30
place relation
matters when marketing a certain product and who you are going to market it to
31
price relation
radically different than traditional consumer product prices (movie theaters don't lower prices to compete with other theaters)/ price is set and adhered to uniformly, based on what people will pay
32
price problems
when rich athletes or celebrities protest for more money, which can later damage their public relationship
33
ticket scalpers
unauthorized ticket sellers who stand outside an event and offer tickets at a higher price
34
piracy
the unauthorized use of an owner's or creator's music, movies, or other copyrighted material
35
bootleg
products and distributed without organization
36
royalty
a payment for material that has been copyrighted, or legally declared as belonging to the creator
37
product tie-in
use of ancillary products such as merchandise as promotional tools
38
cross promotion
any form of communication through which one industry relies on another to promote its product
39
convergence
the overlapping of product promotion
40
snyergy
a combined action that occurs when products owned by one source promote the growth of related products
41
risks
unforeseen events and obstacles that can negatively affect business
42
risk management
a strategy to offset business risks
43
what can't marketers just do
can't just sell tickets, they must generate a fan base/loyalty
44
what are the three main areas that sports and entertainment differ in
consumer loyalty, product, revenue stream
45
consumer loyalty
consumer's attitude that occurs when they are happy with a company and become repeat customers
46
product
we know what this is by now
47
revenue stream
the amount of revenue that something gets and where it comes from; entertainment has a stronger revenue stream because there are more aspects to get money from it, where sports usually just generate about the same amount of money each night form the game and all that
48
what do sports marketers target
a core group of fans and wok on maintaining their loyalty
49
what is an entertainment consumer motivated by
not by a brand or team loyalty, but by a desire for satisfying entertainment; subject to "whats hot and whats not"
50
what is the job of the entertainment marketer
find a winning formula to try and know what consumers want, then CREATE the product
51
what is the job of the sports marketer
find a winning team to try and know what consumers want, then DELIVER that product
52
what is the difference between the two products
consistency, or stability, of the sports product, and the variability of the entertainment product (entertainment has to predict trends)
53
sponsorship
the promotion of a company in association with a property
54
what has created enormous amounts of revenue
visual advertising
55
question for product
who is my customer
56
question for price
how do i compete for customers
57
question for place
where will i sell the product
58
questions for promotion
how will i inform my customer
59
labor unions
more pocket, more time to spend it
60
exterior factors
better transportation, radio, etc.
61
interior factors
pre game, in game, post game entertainment
62
leisure activities for the purpose of enjoyment
what are sports and entertainment
63
consumers
who do sports and entertainment marketers always sell participation in sports or entertainment to
64
people who use products; person who spends money on stuff (goods and services)
what is a consumer
65
money left to spend after necessary expenses are paid
discretionary income
66
customers with free time, discretionary income, and a desire for recreation
what has the growth of sports and entertainment relied on
67
wealthy people; others could not afford the prices to go to different events
who were sports and entertainment originally made for and why
68
wages were raised, better working conditions, and reasonable working hours for their members (people could now afford it all)
how were all people eventually able to go to all of the entertainment
69
development of technology and some new inventions
what else made entertainment more available to the working class
70
a device used to view a sequence of moving pictures; everyone could use it no matter what social class, so people really liked it
kinetoscope
71
key figure in the development of sports marketing (owned Cleveland Indians and the Chicago White Sox)
William "Bill" Veeck
72
fireworks, dazzling scoreboards, special event nights, grandstand manager's day (all of this made the games more valuable to fans
what did William "Bill" Veeck introduce
73
founder of Paramount Pictures; knew how to get a crowd
Adolph Zukor
74
cannot simply rely on the entertainment value of their products; need other aspects to complete the experience for people
what can't you rely on today
75
sellers of products
vendors
76
a plan; will be based on demographics
what is needed to ensure that everything will go smoothly with entertainment and everything
77
a good or service that any for-profit industry sells to its customers; good or service bought or sold
product
78
to advertise and start an exposure of different things on television, magazines, ads, or anything like that
what are celebrities and athletes used for
79
4 P's
what is basis of all marketing
80
people
what is sometimes considered the 5th P of that marketing mix
81
any form of communication used to persuade people to buy products
promotion
82
sports and entertainment products are not physical goods that can be stacked on a store shelf; they are more dynamic
what is the difference between sports and entrainment products from traditional consumer products
83
tiger woods sells more than just golf stuff, esp. restaurant sells burgers and gods, not just tickets or stuff to places
examples of that more dynamic aspect
84
approval or support of a product or idea, usually by celebrity
endorsement
85
not only used in sports marketing; they are powerful marketing tools because they have a public persona
what are celebrities used for and why
86
personality perceived by the public
what is public persona
87
the main product, such as sports event, move, stage show, or book (tangible)
core product
88
a product related to or created from the core product (cane tangible/intangible
ancillary product
89
either core or ancillary products/ can earn additional revenue
what can companies market products as in sports and entertainment and what can come from it
90
gross income
revenue
91
matters when marketing a certain product and who you are going to market it to
place relation
92
radically different than traditional consumer product prices (movie theaters don't lower prices to compete with other theaters)/ price is set and adhered to uniformly, based on what people will pay
price relation
93
when rich athletes or celebrities protest for more money, which can later damage their public relationship
price problems
94
unauthorized ticket sellers who stand outside an event and offer tickets at a higher price
ticket scalpers
95
the unauthorized use of an owner's or creator's music, movies, or other copyrighted material
piracy
96
products and distributed without organization
bootleg
97
a payment for material that has been copyrighted, or legally declared as belonging to the creator
royalty
98
use of ancillary products such as merchandise as promotional tools
product tie-in
99
any form of communication through which one industry relies on another to promote its product
cross promotion
100
the overlapping of product promotion
convergence
101
a combined action that occurs when products owned by one source promote the growth of related products
snyergy
102
unforeseen events and obstacles that can negatively affect business
risks
103
a strategy to offset business risks
risk management
104
can't just sell tickets, they must generate a fan base/loyalty
what can't marketers just do
105
consumer loyalty, product, revenue stream
what are the three main areas that sports and entertainment differ in
106
consumer's attitude that occurs when they are happy with a company and become repeat customers
consumer loyalty
107
we know what this is by now
product
108
the amount of revenue that something gets and where it comes from; entertainment has a stronger revenue stream because there are more aspects to get money from it, where sports usually just generate about the same amount of money each night form the game and all that
revenue stream
109
a core group of fans and wok on maintaining their loyalty
what do sports marketers target
110
not by a brand or team loyalty, but by a desire for satisfying entertainment; subject to "whats hot and whats not"
what is an entertainment consumer motivated by
111
find a winning formula to try and know what consumers want, then CREATE the product
what is the job of the entertainment marketer
112
find a winning team to try and know what consumers want, then DELIVER that product
what is the job of the sports marketer
113
consistency, or stability, of the sports product, and the variability of the entertainment product (entertainment has to predict trends)
what is the difference between the two products
114
the promotion of a company in association with a property
sponsorship
115
visual advertising
what has created enormous amounts of revenue
116
who is my customer
question for product
117
how do i compete for customers
question for price
118
where will i sell the product
question for place
119
how will i inform my customer
questions for promotion
120
more pocket, more time to spend it
labor unions
121
better transportation, radio, etc.
exterior factors
122
pre game, in game, post game entertainment
interior factors

Sports Marketing (4 decks)

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