BUAD 417- Exam 1 – Flashcards
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All the activities designed to meet the wants and needs of sport consumers through exchange processes is called
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Sport Marketing
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What are the two major thursts of sport marketing?
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Marketing of Sport and Marketing Thru Sport
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An example of Exporting of US sport around the world or importing international sport to the USA is an example of?
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Globalization
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The Sport industry is the __ largest industry in the USA
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11th
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Estimates that over ___ billion per year is sent on sport and recreation products/s
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300-350$
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Failing to identify consumer wants/needs Winning is what sells the product Promotion vs. Marketing Ignorance of sport and non-sport competition These are all examples of ?
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Sport Marketing Myopia
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Lack of vision or long term focus is an example of
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Sport Marketing Myopia
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is displayed in the process by which people develop their interest in an activity, in our case sport.
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Socialization
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Participation and spectatorship are examples of?
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Socialization
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the "doing" of a sport or activity
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Behavioral Involvement
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acquiring information and knowledge about a sport
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Cognitive involvement
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attitudes, feelings, emotions a consumer has toward a sport/activity.
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Affective involvement
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o What factors influence the behavior of sport consumers?
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Environmental and Individual factors
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What factor deals with the influence of significant others, cultural norms and values, class, race, and geography?
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Environmental
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What factor deals with self concept/self esteem, stages in life, physical characteristics, attitudes, and gender?
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Individual
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Women appear to have higher brand loyalty. T/F
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True
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What concept is key to successful sport marketing and represents consumer movement to higher levels of involvement/consumption?
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The Escalator
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o Process of collecting information about consumers, competitors, and markets and using this information to make marketing decisions
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Market Research
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o Goal: Provide a business with a comprehensive view of consumers in order to develop products and services that satisfy their needs
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Market Research
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• Onsite, exit and community surverys • Focus Groups • Mystery shoppers • 1 on 1 interviews (video, personal) • Field Work • Sales and Accounting Records • Inquiries These are examples of what type of research?
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Primary
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• Government data (census data). Federal, state and local • Private/commercial research company data (Joyce Julius) • Chambers of commerce These are examples of what type of research?
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Secondary
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broad statements on what an organizations wants to achieve.
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Goals
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more specific, detailed and measurable targets to achieve
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Objectives
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process of dividing a large, heterogeneous market into more homogeneous groups of people who have similar wants, needs or demographic profiles to whom a product/service may be targeted.
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Market Segmentation
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• One of the earliest steps in marketing management process is?
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Market Segmentation
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The four criteria that should be used to segment your possible customers is?
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• State of being (Demographic Info) - income, geographic, gender, race, age • State of Mind-thoughts, attitudes, likes, emotions, feelings • Product Benefits- what you get out of products, preferences?(???) • Product usage- what do you use the product for?
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• Dividing customers by personality traits and lifestyle characteristics such as attitudes, opinions, interests and viewpoints is?
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State of Mind/Psychographic Segmentation
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separates people into 8 categories based n the personal traits/motivations
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VAL (Values and Lifestyles Typology)
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• How do you decide what the primary targets should be using segmentation ?
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Must use the research accumulated from SWOT analysis and Marketing Information System (MIS)
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What is considered the core product in sports marketing?
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The Game
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o Concessions o Mascots o In game promotions o PA Reads o Parking What are these examples of?
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Product Extensions/Supplements
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• Secondary aspects/products that are sold to the consumer ?
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Product Extensions/Supplements
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• A product component is a ______ if it enhances the value of the core product
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Supplement
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• A product component is an _____ if it can be marketed and sold on its own
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Extension
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Novelties and Fantasies are examples of?
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Product Extensions/Supplement
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• Customer relations is a key component of the sport event experience . T/F
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True
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• A fine core product can be spoiled by ?
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poor personnel
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The act of designing a set of meaningful differences to distinguish the company's offerings from competitors offerings and which is an ongoing process?
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Product Differentiation
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o FC Barcelona o Yankees Jerseys-no names on back, pinstripes o Fab Five- long shorts and black socks o Eastern Washington and Boise state fields Examples of ?
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Product Differentiation
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The idea of constantly revising your product is called
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product development
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• Deals with how your product is designed, redesigned and promoted
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Product Positioning
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• Goal: Create a "presence" in the minds of targeted consumers ?
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Product Positioning
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o Perceptions of names, logos etc.
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Trademark imagery
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o Perceptions of the product
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Product imagery
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o Perceptions of those people/things that are associated with your product
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Associative Imagery
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o Perceptions of what your users/consumers are like
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User imagery
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o Perceptions of how your product is used or performs o Quality
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Usage imagery
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• What communicates a product's brand?
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Names, Marks/Logos, Designs
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____ should convey the message about the product
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Brand
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• The added value that a certain product has by virtue of its brand name
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Brand Equity
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o Tangible extensions/merchandises o Star players/coaches o Distinct trademarks/logos o History/Tradition o Spectacle/Festival These are examples you use to build what?
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Brand Equity
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• Intangible, experiential, and subjective • Strong personal and emotional attachment • Simultaneously produced and consumed • Importance of social facilitation • Inconsistent and unpredictable • Core product beyond the marketers control These are examples of?
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Uniqueness of Sport Product
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• Many consumers consider themselves experts on the product . t/F
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True
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• Demands do not tend to fluctuate widely. T/F
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False
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• Sport has universal appeal and pervades many other aspects of life . T/F
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True
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frequency, duration, and intensity of involvement in a sport or the willingness to expend money, time and energy.
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Commitment
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Two basic levels of involvement:
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Casual and Avid
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- The process of scanning, gathering, assessing, and interpreting information in the environment.
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Perception
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______= Benefits - cost
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Customer Satisfaction
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winning is the only factor in brand loyalty. T/F
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False
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A professional sport team that uses Nielsen ratings from their game broadcasts to set advertising rates is using syndicated data. T/F
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True
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Data that has been collected, organized, and repackaged for consumption.
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Syndicated Data
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is data that can be collected numerically.
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Quantitative Data
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Includes typically between 5-12 respondents who are recruited based on their relevance to a particular business issue or research topic.
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Focus Groups
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are comprehensive question and answer discussions between a respondent and an interviewer. These are not only cost efficient, but provide deeper insights as well
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In-depth Interviews
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Qualitative research provides organizations with in-depth research that provides deep insight. t/f
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True
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For a sport organization, business objectives should always drive decisions when conducting market research. T/f
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True
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In the sport industry, teams and leagues are now using analytics and research more frequently, but few, if any, sport sponsors are using metrics to make marketing decisions.T/F
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False
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Which would be considered a quantitative approach to collecting custom research?
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Online Surveys distributed to season ticket holders
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Which would not be an effective way to procure accurate and unbiased results from a fan intercept survey conducted during a sporting event?
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Ensure that those collecting the surveys are attired in team gear.
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Within the sport industry, what is the least likely to have full-time staff members dedicated to data research and analysis?
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A college athletic department
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What methodologies for data collection is the most expensive?
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Telephone interviews
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Comparing the worth of a product that has an organization's name or image on it to the worth of a generic product of similar quality is called __________.
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Brand Equity
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In sport marketing terms, which element is not part of the sport product strategy? A.Pricing B.Differentiation C.Product Development D.Branding
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Pricing
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In sport marketing terms, the way that event staff interact with consumers (personnel and process) would be considered a sport product extension.T/F
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False
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Teams and franchises have much more volatile and unpredictable product life cycles than those of their sport overall. T/F
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True
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Simultaneous production and consumption is a unique aspect of sport marketing as far as price is concerned. T/F
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False
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Most traditional products will see consistent sales throughout the year, whereas a sport product has high-volume times and low-volume times.T/F
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True
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The price of the sport product itself is invariably quite small in comparison with the total cost paid by the consumer. T/F
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True
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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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Market Myopia
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A strong and knowledgeable staff, a large capital reserve, and a positive reputation are all examples of internal strengths. T/F
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True
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Analyzing the market and the organization is one of the five strategic components of marketing management. T/F
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True
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Having the most members of any other health club in the Newark area would be a marketing goal that focuses on market share. T/F
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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 Consumer
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A 360-degree record of all customer interactions is called
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CRM software database
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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
