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sports marketing Flashcards

1
Q

Marketing

A

The process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants

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2
Q

Marketing concept

A

The idea that organizations will need to satisfy their customers while also trying to reach their organizations’ goals

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3
Q

Market

A

Consists of potential customers with shared needs who have the desire and ability to buy a product

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4
Q

Needs

A

Occur when people experience a lack of basic necessities such as food, clothing, or shelter

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5
Q

Wants

A

Things that people desire based on personality, experiences, or information of a product

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6
Q

Target market

A

A specific group of consumers that an organization selects as the focus of its marketing plan

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7
Q

Demographics

A

Statistics that describe the population in terms of personal characteristics

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8
Q

Marketing mix

A

A combination of four basic marketing strategies, known as the 4 p’s

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9
Q

Channel of distribution

A

The path a product takes from the producer to the consumer

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10
Q

Economics

A

The study of choices and decisions that affect making, distributing, and using goods and services

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11
Q

GDP (Gross domestic product)

A

The value of all goods produced within the country

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12
Q

Profit

A

The money left after all costs and expenses of a business are paid

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13
Q

Competition

A

A characteristic of free enterprise, the struggle among companies for customers

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14
Q

Copyright

A

The legal protection of a creator’s intellectual property or products

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15
Q

Consumers

A

People who use products

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16
Q

Discretionary income

A

Money left to spend after all necessary expenses are paid

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17
Q

Kinetoscope

A

A device used to view a sequence of doing pictures

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18
Q

Vendors

A

Sellers of products

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19
Q

Product

A

A good or service that any for-profiit industry sells to its customers

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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

Endorsement

A

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

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22
Q

Core product

A

The main product

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23
Q

Ancillary product

A

A product related to or created from the core product

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24
Q

Revenue

A

Gross income

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25
Q

Piracy

A

The unauthorized use of an owner’s or creator’s music, movies, or other copyrighted material

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26
Q

Royalty

A

A payment for material that has been copyrighted, or legally declare as belonging to the creator

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27
Q

Product tie in

A

Use of ancillary products such as merchandise as promotional tools

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28
Q

Cross promotion

A

Any form of communication through which one industry relies on another industry to promote its product

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29
Q

Convergence

A

The overlapping of product promotion

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30
Q

Synergy

A

A combined action that occurs when products owned by one source promote the growth of related products

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31
Q

Risks

A

Unforeseen events and obstacles that can negatively affect business

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32
Q

Risk management

A

A strategy to offer business risks

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33
Q

Consumer loyalty

A

Commuters’ attitude that occurs when they are happy with a company and become repeat customers

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34
Q

Sponsorship

A

The promotion of a company in association with a property

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35
Q

Sports marketing

A

All the marketing activities designed to satisfy the needs and wants of sports consumers

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36
Q

Amateur athlete

A

A person who does not get paid to play a sport

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37
Q

NCAA

A

A national organization that governs college athletics and oversees important decisions pertaining to athletics

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38
Q

Professional athlete

A

An athlete who has the will and ability to earn an income from particular sport

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39
Q

Title IX

A

A law that bans gender discrimination in schools that receive federal funds

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40
Q

Extreme sports

A

Sports that involve nontraditional, daring methods of athletic competition

41
Q

Sports consumer

A

A person who may play, officiate, watch, or listen to sports, or read, use, purchase, and/or collect items related to sports

42
Q

Marketing segmentation

A

A way of analyzing a market by specific characteristics to create a target market

43
Q

Sports products

A

The goods, services, ideas, or a combination of those things related to sports that provide satisfaction to a consumer

44
Q

Tangible products

A

Physical goods that offer benefits to the consumer

45
Q

Intangible products

A

A non physical services such as tennis lessons, personal training, and sports camps

46
Q

Product line

A

A group of closely related products manufactured and/or sold by a company

47
Q

Product mix

A

The total assortment of products that a company makes and/or sells

48
Q

Opportunity cost

A

The loss of the opportunity that is passed up in order to receive something in exchange

49
Q

Infrastructure

A

The physical development of an area, including the major public systems, services, and facilities of a country or region needed to make a location function

50
Q

Sports franchise

A

An agreement or contract for a sports organization to sell a parent company’s good or service within a given area

51
Q

Grassroots

A

Marketing activity on a local community level

52
Q

Product item

A

Specific model or size of a product

53
Q

Consumer goods

A

Goods purchased and used by the ultimate consumer for personal use

54
Q

Business goods

A

Goods purchased by organizations for use in their operations

55
Q

Point of difference

A

A unique product characteristic or benefit that sets it apart from a competitor

56
Q

Focus group

A

A panel of six to ten consumers who discuss opinions at a topic under the guidance of a moderator

57
Q

Commercialization

A

Process that involved producing and marketing a new product

58
Q

Repositioning

A

Changing a product’s image in relation to a competitor’s image

59
Q

Price

A

The value placed on goods or services being exchanged

60
Q

Prestige pricing

A

Pricing based on consumer perception

61
Q

Odd even pricing

A

Pricing goods with either an odd number or even number to match a product’s image

62
Q

Target pricing

A

Pricing goods according to what the customer is willing to pay

63
Q

Markup

A

Difference between the retail or wholesale price and the cost of an item

64
Q

Cost plus pricing

A

Pricing products by calculating all costs and expenses and adding desire profit

65
Q

Non price competition

A

Competition between businesses based on quality, service, and relationships

66
Q

Market share

A

The percentage of the total sales of all companies that sell the same type of product

67
Q

Price lining

A

Selling all goods in a product line at specific price points

68
Q

Bundle pricing

A

Selling several items as a package for a set price

69
Q

Loss leader pricing

A

Pricing an item at cost or below cost to draw customers into the store

70
Q

Yield management pricing

A

Pricing items at different prices to maximize revenue when limited capacity is involved

71
Q

Price fixing

A

An illegal practice whereby competitors conspire to set the same prices

72
Q

Market research

A

the process of systematically collecting, recording, analyzing, and presenting data related to marketing goods and services

73
Q

Secondary research

A

published data that have been collected for some reason

74
Q

Primary research

A

original research conducted for a specific marketing situation

75
Q

Observation method

A

research technique that involves watching actual behavior and recording it

76
Q

Census

A

a study that counts everyone in the research population

77
Q

Sample

A

a number of people who are representative of a study’s population

78
Q

Direct channel

A

the patch a product takes without the help of any intermediaries between the producer and consumer

79
Q

Direct marketing

A

marketing activities to sell products directly to customers through the use of a customer database

80
Q

Indirect channel

A

the path a product takes using intermediaries between the producer and consumer

81
Q

Brand

A

a name, word or no words, symbol, or design that identifies an organization and its product

82
Q

Brand name

A

A word or words, letters, or numbers representing a brand that can be spoken

83
Q

Trademark

A

A device that legally identifies ownership of a registered brand or trade name

84
Q

Brand equity

A

The value a brand has beyond its actual functional benefits

85
Q

Manufacturer brand

A

A brand owned by the producer of the product

86
Q

Co branding

A

A branding strategy that combines one or more brands to increase customer loyalty and sales for each product

87
Q

Intermediary brand

A

A brand that carries a bane developed by the wholesaler, retailer, or catalog house

88
Q

Generic brand

A

A brand that represents a general product category and does not carry a company or brand name

89
Q

Licensing

A

An agreement that gives a company the right to use another’s brand name, patent, or other intellectual property for a royalty or fee

90
Q

Event marketing

A

All activities associated with the sale, distribution, and promotion of a sports event

91
Q

Promotional mix

A

Any combination of advertising, sales promotion, publicity, direct marketing, and personal selling

92
Q

Advertising

A

Any paid promotion of an idea, good, or service by an identified sponsor

93
Q

Promotional advertising

A

Advertising with a goal of selling an item being promoted

94
Q

Institutional advertising

A

Advertising with a goal of developing goodwill or a positive image

95
Q

Sales promotion

A

A short term incentive to get consumers interested in buying a product

96
Q

Public relations

A

Activities that promote the image and communications a company has with its employees, customers, investors, and public

97
Q

Publicity

A

The free mention of a product or company in the media

98
Q

Press release

A

A newsworthy article that provides the basic information to answer questions such as who, what, where, when, and why

99
Q

Personal selling

A

Direct communication by a salesperson to potential customers either in person or by telephone

finals (3 decks)

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