Sports Marketing Notes:

Question 1

Marketing:

Answer 1

Creating customer value and engagement.

Question 2

What is Marketing?

Answer 2

Marketing is engaging customers and managing profitable customer relationships.

Marketing is the activity, of exchanging offerings that hold value to consumers.
Marking is the activity, set instructions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partnerships, and society at large.

Question 3

Goals of Marketing:

Answer 3

Attract new customers by promising superior value.

Question 4

The Marketing Process:

Answer 4

1. Understand the marketplace and customer needs and wants.
2. Design a customer value-driven marketing strategy.
3. Construct an integrated marketing program that delivers superior values,
4. Engage customers, build profitable relationships, and create customer delight.

Question 5

The Marketing Process:

Answer 5

Create value for customers and build customer relationships.

Question 6

The Marketing Procces:

Answer 6

Capture value from customers in return. ( Capture value from customers to create profits and customer equity.

Question 7

Summary:

Answer 7

Marketing creates value for customers.
In order to do that we must:
- understand the marketplace and customers
- design a customer value-driven marketing strategy
- construct a marketing program
- engage customers, build relationships
Marketing CAPTURES: value from customers
- Sales Dollars
-Time
Loyalty

Question 8

5 Core Concepts:

Answer 8

1. Needs, wants, demands.
2. Market offerings.
3. Value ans satisfaction.
4. Exchange and relationships.
5. Markets.

Question 9

Customer needs:

Answer 9

States of felt deprivation

• Physicial needs: Food, clothing, warmth, and safety.
• Social needs: belonging and affection
• Individual needs: Knowledge and self-expression

Question 10

Customer wants:

Answer 10

Wants- From taken by human needs when shaped by culture and individual persponality.
Demands- Human wants that are back by buying power.

Question 11

Exchange;

Answer 11

Providing value in anticipation of receving value.

Or giving up something of value in order to recevie something similar value.

Question 12

Markets:

Answer 12

A market is the suof all buyers, sellers and products coming together to facilitate EXCHANGE.
A market can refer to a physical or virtual PLACE.
We sometimes use the word “market” to refer to
- a group of similar PRODUCTS
- a group of PEOPLE ( buyers) with simialr wants or needs
- a group of COMPANIES

Question 13

Market Offerings:

Answer 13

Products, services, information or exeriences

- offered to satisfy a need or want.

Question 14

Marketing Concepts:

Answer 14

Value proposition - a set of benefits a company promises to consumers to satisfy their needs.

Question 14

Marketing Concepts:

Answer 14

Value proposition - a set of benefits a company promises to consumers to satisfy their needs.