Unit 2: Sports Flashcards
Explain Marketing of Sport Vs Marketing thru sport
Marketing of actual sport
Use a connection in order to prompt a product
Define: Sponsorship
Supporter of an event or activity, like an endorsement, sponsorships have To make sense for everyone involved
Pros of event marketing: D.E.V
-engages customers
-uses direct/interactive displays to reach customers
-provided value beyond information
Keys of event marketing: I.C.L
Identify correct target market
Create an experience people will remember
Leave a lasting brand impression
What are the 3 steps of developing a event marketing plan? P.I.F
- What personality is the brand trying to convey?
2.Focus on target audience - What lasting impression do you want to leave the audience with?
What are the 4 categories of sports and sponsorships?
A.H.C.P
Amature
High School
College
Professional
What does SWOT stand for?i
STRENGTH - internal
WEAKNESS- internal
OPPORTUNITY- external
THREATS- external
What are the 2 factors of a sports consumer? These factors determine whether or not they participate/consume a sport
- Environmental Factors: race, gender, income, family
- Consumer individual factors: physical characteristics, motivation
What is lowest point of product life cycle?
Introduction: low sales, high costs, no profit
What is highest point of product life cycle?
Maturity: constant sales, reduced costs, increase profit
What are the 4 areas of product life cycle:
Introduction, growth, maturity, decline
Explain decline
Reduce sales, constant costs, reduce profit
Explain growth
Increase sales, decrease costs, some profit
How to manage product life cycle?
- Modify
- Market
- Reposition
Define: core & ancillary products
Core: main product
Ancillary : all products related to it
