Chapter One: Intro to Sport Marketing – Flashcards
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Elements of successful branding effort
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Stickiness of an idea, reach, social identity, media interest, monetization and marketing metrics
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Stickiness of an idea
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Does the idea capture fans' imagination?
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Reach
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How far does the idea extend?
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Social Identity
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Do different segments of the population relate to the brand in a personal way?
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Media interest
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Are the members of the media captivated in some way by the influences of a brand?
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Monetization and Marketing Metrics
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Can marketers put a number on brand's value or success?
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Sports Marketing
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activities designed to meet the wants and needs of sport consumers through an exchange process
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Sport Consumers
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are involved in sport through playing, officiating, watching, listening, reading, and collecting
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Two major thrust of sport marketing
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1. The marketing of sport products to the consumer 2. The marketing of sports and non-sport product through sport
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Uniqueness of sport marketing
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Sport product, sport marketplace, sport finance, sport promotion
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Sport Product
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Any bundle or combination of qualities, processes, and capabilities (goods, services, or ideas) that a sport consumer expects will deliver want satisfaction
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Should sports marketers understand why consumers make consumption decisions?
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Yes
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Why is a sports product unique?
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1. Intangible, ephemeral, experiential, and subjective nature 2. Strong personal and emotional identification 3. Simultaneous production and consumption (perishable) 4. Dependence on social facilitation 5. Inconsistency and unpredictability 6. Core product beyond marketers' control
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The sport marketplace
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Many sport organization simultaneously compete and cooperate, demands tends to fluctuate widely, sport has an almost universal appeal and pervades all elements of life
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Sport Finance
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Pricing the individual sport product unit by traditional job costing is difficult, The price of the sport product itself is invariably quite small in comparison with the total cost paid by the consumers, Indirect revenues are frequently greater than direct operating revenues
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Indirect revenues are frequently greater than direct operating revenues
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Other revenues are media and sponsors
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Sport Promotion
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Widespread media exposure is a double edge sword, media and sponsors emphasize celebrities
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Micheal Jordan is an example of
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Free promotion
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How are sports global?
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Growth of North American professional sport leagues is a global phenomenon
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True or False: International leagues are vying for U.S dollars
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True
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What is the key tool in marketing sports brand on the international stage?
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Building sport participation
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What are some of the marketing myopia
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Focus on producing and selling foods and services Belief that winning absolves all sins Confusion between marketing and promotion Ignorance of competition inside and outside sports Short-sighted focus on quick return price hikes or investments Poor research quality Poor sales and services Arrogance and laziness Failure to adapt to industry, market, and consume change
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Does a recession have a economic effect on sports
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Yes, sport marketing has been affect by prevailing economic conditions
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Competition in the Marketplace
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Leisure spending on spectator sports has decreased in the United States, Expansion of sport entertainment and participation option creates greater marketplace competition, maintaining market sharing can be difficult for sport product, popularity of some sports, such as action sports, is plateauing or declining
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Media Challenges
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Social media the way that fans consume sport, Newspaper decline, Sports and Media must adapt to new means of reaching consumers
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A focus on producing and selling goods and services rather than identifying and satisfying the needs and wants of consumers and their markets is known as
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Marketing Myopia
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Which of the following is an example of marketing through sport? a. Broadcasting a team's away games b. Scheduling games at times that do not conflict with other local events c. Playing a commercial for a local business during a game broadcast d. Using billboards to advertise the team's schedule
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C
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Which of the following is not a reason why sport marketing is different from many other types of product marketing? a. the emphasis on generating revenue b. the fundamental difference of the sport product itself c. the market for the product d. the financial model of sport production
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A
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What legendary sport marketer owned three different Major League Baseball franchises, has been inducted into the Baseball Hall of Fame, and is still known to this day as the champion of the little guy because of the value that he placed on attracting common fans to his teams' games?
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Bill Veeck
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T/F: Most traditional products will see consistent sales throughout the year, whereas a sport product has high-volume times and low-volume times.
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True
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T/F: Analyzing the market and the organization is one of the five strategic components of marketing management.
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True
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Having a large percentage of high-income sport fans would be an example of an:
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External Opportunity
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According to the marketing concept of the frequency escalator, who resides on the ground level?
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Nonaware Consumers
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A CRM software database system provides sport marketers a.a. a tool to stimulate product innovations b. evidence of a successful strategy c. a 360-degree record of all customer interaction d. incentives to discount tickets
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C
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What part of developing the marketing plan involves finding an unmet need and defining it?
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Developing the market
