Sports Marketing Mid term Flashcards
what is the most important things to sell in sports/entertainment marketing
emotion and experience
what are the 10 categories
- sporting goods
- cable
- gambling
- publishing
- pet
- amusement parks
7.sports clubs/gym - spectator sports (EA sports)
- Concert industry
- motion pictures (movies)
What are the sports marketers needs?
- Star (who)
- Value
- Fan experience
what is the chapter one ground rule?
If you are not willing to take a few risk, become a bean counter
How do you measure sales in sports?
the box office
65% tickets sales
25% sponsorship
15 food, beverage, parking
how do you measure sales in concerts?
box office
How do you measure sales in theaters?
Box office
studios take a bigger cut in the opening weekend
the longer the move is in theaters the more money it will make
What is the pre-screen average?
predicts the movie success
What is branding?
The long lasting, deeply held feeling that you have about a product
What is advertising?
A message that incises to buy or provides information
What is ground rule number 2?
When you aim for the top, you make important progress by aiming
What is the product life cycle?
- Introductory
- Growth
- Maturity
- Decline
What are the 4 seasons of sales?
- Season
- particle season
- Single game
- playoffs
what is the difference between an A game and D game?
A game are easier to sell (weekends, exciting teams), D games are harder to sell (weekdays, bad team, mid season)
What is needed for a sport?
rules, competition, someone making the rules
What is static marketing?
Informing you but you do not interact with (billboard)(
What is active marketing?
Marketing you interact with (sampling)
Why do you segment?
You cannot market to everyone and people act predictably
What is demographics?
who are as a person (sex,race,age)
What is socioeconomics?
How much money you have (affordability and being able to buy tickets)
What are psychographics?
The way you behave (what you buy, habits)
What are geographics?
Where you live, where you are
(make assumptions, target with direct mail, cable, social media)
What are the behavioral aspects?
Things you do over and over again (Loyalty)
What is a niche?
a specialized segment of the market for a particular kind of product or service
What does the fan experience need to match?
the audience
Hispanics
23% of population
outside of bronco season the most popular station is spanish
LGBTQ
More money (more people and less kids)
Allies
Black
Most exposed to the industries
types of entertainment is is specific to American experiences
Important things to keep in mind about hispanic. LGBTQ, and Black
There are not niche markets (they must be combined to be niche)
They do not have an immediate relationship with a sport/team
What is ground rule three?
There is no risk in pushing the outrageous envelope
What is ground rule four?
if your correctly identify yourself, you can hit the jackpot
What is ground rule five?
examine the feet before you operate on the brain
What is ground rule six?
If you mimic the market leaders, you’ll just aid their dominance
What is ground rule seven?
When rare opportunity comes along and you can’t test it. fly without a net
What is ground rule eight?
Take an experiment and make it part of your life. do it again
Teenagers demographics
Disposable income
250 billion dollar segment
6-15 years
When to start building loyalty to teams/sports
starts at 5 with cartoons
Young fans
16-21
market using parents and older individuals
looking for approval
most open to adopting new tech
most open to unique promos
relate to celebs
least permanent buying habits
Goals for marketing young
loyalty, money, and educate
Is sponsorship active or static marketing?
Active
Why are sponsorships important?
unexpected (best kind of surprise)
carefully segmented
active marketing
budget friendly
Why don’t some sponsorships work?
overstateration
expensive: buying the right to participate, pay 2x participation amount to be active and promote, more expensive as you get in the playoffs, (ideal:Make it to the first round but lose before final)
IF YOU DO NOT SPEND ENOUGH NO ONE WILL KNOW AND THE PROMO WILL FALL APART
what is gorilla marketing?
someone who pretends they are a sponsor but are not
legal in the US
What is cost per tweet?
the value and social media a athlete has
Gambling is the _ biggest segment
3rd
The Super Bowl is the _ second biggest event for gambling. what is the first?
2nd (1.4 billion), college mens basketball (3.1 billion)
until the _ laws were in place for betting
1990s
80% of the market is split between?
draft kings and fan duel
What are the emotions associated with sports betting?
The online version of extreme sports, excitement, hope, sadness,
9 ways to identify trends
- Invented sports
- entertainment related tech
- supernatural
- things from your childhood
- things that we dislike and want to change
- addition of programing that already succeeded somewhere else
- Backstories
- Other countries (UK) for inspo
- History repeating itself
When you are working on the partnership there are several categories you will look for. What are they?
- Beer
- spirits
- automotive
- banking/ insurance
