Sports Marketing Definitions – Flashcards
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Brand
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a name, word, or symbol or design that identifies an organization and its products
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Endorsement
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a persons public expression of approval or support for a product or service. They are a promotional tool rather than a form of sponsorship.
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Brand Equity
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the value a brand has beyond its actual functional benefits
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Trademark
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a device that legally identifies ownership of a registered brand or trade name
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Return
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the profit a sponsor earns from its support of an athlete or teams
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Extreme Sports
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sports that involve nontraditional daring methods of athletic competition
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Brand Name
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a word or words, letters, or numbers representing a brand
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Amateur Athlete
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a person who does not get paid to play a sport
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NCAA
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National Collegiate Athletic Association; governs college athletes and overseas important decisions pertaining to athletics
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Title IX
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a law that bans gender discrimination in schools brand so increase. mo exactly mobiles receive federal funds
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Professional Athlete
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an athlete who has the will and ability to earn an incomeus from a particular sport
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Sports Marketing
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alle the marketing activities designed to satisfy the needs and wants of sports consumers
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Generic Brand
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represents general product category and doesn't carry a company or brand name
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Affinity Sports
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niche markets whose participants are just as passionate about their sports as are enthusiasts of the more traditional sport
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Niche Marketing
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involves researching a target market to determine the specific items or services a small group of people will buy
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Sponsor
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a person, organization, or business or donates products and services to another person, organization or event in exchange for public recognition
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Co-Branding
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combines one or more brands to increase customer loyalty and sales for each product
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Manufacturer Brand
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owned by the producer of the product
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Intermediary Brand
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carries a name developed by the wholesaler, retailer, or catalog house
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Market
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all people who share similar needs and wants and who have the ability to purchase a give product
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Consumer Market
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consists of consumers who purchase goods and services for personal use
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Organizational Market
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business-to-business market includes all businesses that buy products for use in their operations
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Market Share
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a company's percentage of its total sales
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Target Market
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a group that is identified for a specific marketing program
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Customer Profile
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lists information about the target market, such as age, gender, income level, marital status, ethnic background, geographic residence, lifestyle, and behavior
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Marketing Mix
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includes four basic marketing strategies called the Four P's: product, place, price, and promotion
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Consumers
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people who use products
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Discretionary Income
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money left to spend after necessary expenses are paid
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Kinetoscope
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a device for viewing moving pictures invented by Thomas Edison
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Vendors
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sellers of products that compete for a share of the money people spend on recreation
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Product
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a good or service that any for-profit industry sells to its customers
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Promotion
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any form of communication used to persuade people to buy products through advertising, publicity, personal selling, or sales
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Core Product
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main product
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Ancillary Product
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a product related to or created from the core product
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Revenue
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gross income
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Piracy
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the unauthorized use of an owners or creators music, movies, or other copyrighted material
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Royalty
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a payment for material that has been copyrighted or legally declared as belonging to the creator
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Product Tie-In
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the use of ancillary products such as merchandise for promotional tools
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Cross-Promotion
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any form of communication through which one industry relies on another industry to promote its product
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Convergence
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the overlapping of product promotion
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Synergy
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a combines action that occurs when products owned by one source promote the growth of related products
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Risks
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unforeseen events and obstacles that can negatively affect business
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Risk Management
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a strategy to offset business risks
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Consumer Loyalty
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when customers are happy with a company's product and become repeat customers
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Sponsorship
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the promotion of a company in association with a property
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Entertainment Marketing
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the process of developing, promoting, and distributing products, or goods and services, to satisfy customers needs and wants through entertainment
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Media
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methods used for communicating or transmitting messages
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Fad
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a short-term popular trend, style, product, or service
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Cross-selling
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the method of selling additional related products tied to one name
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Break Even
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have costs and expenses equal the income revenue
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Oligopoly
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a business situation in which a few firms affect but do not control an industry
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Ratings
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the rankings of TV show or radio show popularity in a certain time period
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Affiliate
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an independent broadcaster that contracts with larger national networks for programming
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Brick-and-Mortar Store
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a retail business with a physical location or store site
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Leisure Time
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anytime that you are free from work and duties
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Low Budget Movies
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generally those costing less than $250,000 to produce, have low advertising budgets
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Vertical Integration
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one company that controls several different areas of the same industrt
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Wide Release
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movies opened in more than 2,000 theaters
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MOU
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a written agreement that contains voluntary technical standards
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Preview
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the release of a movie the evening before its official opening
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Broadcast Webs
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groups of television networks, production studios and related entertainment films that produce shows in house for their groups
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Trailers
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advertisements for upcoming movies
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Matinees
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pre-evening shows generally have less audience and lower prices tickets
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Information Utility
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involves getting the information to the consumer
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Possession Utility
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exchange of a product from monetary value
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Time Utility
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having a product available at a certain time of year or convenient time of time
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Place Utility
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having a product where customers can buy it
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Form Utility
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changing raw materials or putting parts together to make them more useful
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Utility
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the added value to a product comes from the Latin word utilis
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Distribution
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including methods of transporting and tracking your product
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Financing
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getting the money needed to finance the operation of a business
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Marketing Information Management
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process of obtaining the marketing information needed to make sound business decisions
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Selling
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providing customers with the goods and services they wish to buy
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Product Service Planning
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decisions made by a business in relation to the product of goods and servces
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Pricing
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deciding how much to charge for goods and sefvices
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Professional Development
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career growth, development, and exploration
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Economics
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understanding economic principles and concepts that are basic to marketing orinciples
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Communication and Interpersonal
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interacting effectively with others
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Business, Management, Entrepeneurship
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having management skills to run a business
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Intangible
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service, can't physically touch it
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Tangible
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good, can physically touch it
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Non-Profit Organization
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they receive no money for the good or service they provide
