Week 14-2 (Final) Flashcards
Marketing
The process of planning and executing the
conception, pricing, promotion, and
distribution of ideas, goods, and services to
create exchanges that satisfy individual and
organizational goals
4 P’s
product
place
price
promotion
Product
What the business has to offer to its prospective
customers, users, clients, or constituents
Can be a good, service, or idea
Consumer needs and wants
What’s unique about the sport product?
Simultaneous Spontaneous Heterogeneous Intangible Perishable
Price
the exchange value of a good or service and the value
of an item in the marketplace
How much?
Value and quality
Demand and Supply
Costs of consumer
Place
Where the product or service is sold or
distributed
how the product reaches customers
how quickly it reaches them
Convenience of consumer
Place can also be a product that creates needs and wants
Promotion
• Any activity designed to stimulate interest in, awareness of, and
purchase of a product
• Method to convey information about the place, price, and
product
• Critical in the positioning of a sport product/service in the mind
of the consumer
• All forms of communication to consumers
5th P of Facility Marketing
People or Public Relation
Customer Identification
- What do you know about your consumer?
- How do they perceive the product?
- Can and will people buy the product?
Bases of Segmentation
demographics, psychographics, geodemographics, and benefits
Requirements of Successful Target Markets
Sizable: Number of people and/or purchasing power
Reachable: Accessibility of group
Measurable
Behavioral Variation
Poisioning
fixing your sports entity in the minds of consumers in the target market
Selling
Selling an event, a sport facility it self
Tangible and intangible products
