DECA: Sports & Entertainment Marketing – Flashcards
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advertising
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a paid form of communication delivered to consumers by a product marker or seller
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advertiser
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a financial and business counselor, not a behavior monitor
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agent
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the legal representative of an athlete or celebrity
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agent contract
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an agreement which an athlete or celebrity allows a person or agency to act as a representative in marketing his or her ability and name
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algorithm
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a detailed set of instructions on how to sort data
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Anthology series
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a TV series that has different cast, setting, and story line each season
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Applied Research
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focus on solving a specific problem
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Art-House movies
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typically independent films that are outside the commercial mainstream of blockbuster films and draw smaller audiences
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autocratic leader
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a take-charge person who does not seek the input of team members
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ad campaign
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a promotional plan that combines selling, advertising, public relations, and the use of different media to research the target market
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affiliate
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an independent broadcaster that contracts with larger national networks for programming
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ancillary product
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a product related to or created from the core product
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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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bait and switch
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occurs when a product that is advertised at a low price is "out of stock" so the salesperson tries to sell customers a higher-priced alternative
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Balance Sheet
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a statement that shows the company's assets (items of value, including, cash, property and equipment) and its liabilities (amounts owed for purchases made on credit and loans) at a specific point in time
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Benefit derived
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the value people believe they receive from a product or service
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Big data
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the extraordinary amount of data that is being collected and stored for marketing purposes
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Blue-chip athletes
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high-prospect athletes who have exceptional athletic ability and who demonstrate good character and leadership qualities on and off the field
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Body Language
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non-spoken signals
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booking agent
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a firm that contracts with the venue on behalf of the performers
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box office
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income from ticket sales
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Brand
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the name, symbols, logo, words or design for a combination of these element(s) that identifies a product, service or company
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brand equity
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the value a brand has beyond its actual functional benefits
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brand extension
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the development and introduction of new products that expand the brand and take advantage of the recognition and image of an established brand name
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brand identity
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a consistent image or feeling that consumers recognize when encountering the brand
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brand mark
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a brand name and symbol
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brand name
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a word or words, letters or number representing a brand that can be spoken
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Break even point
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minimum sales required to cover al the expenses or organizing, promoting and running the event
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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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bundle pricing
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selling several items as a package for a set price
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Broadband
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high-speed Internet services
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Broadcast Flags
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digital bits that can be embedded in digital programming to prevent programs from being recorded and distributed
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Budget
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a detailed projection of financial performance for a specific time period
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Business Cycle
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refers to the ups and downs of the economy, also known as the economic cycle
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Business Plan
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a forma, written document that provides the details for a proposed new business
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Business goods
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goods purchased by organizations for use in their operations
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Cable Bundle
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a group of TV channels sold as a package for one monthly price by TV subscription services
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Cafeteria Plan
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a benefit plan in which employees pick and choose from various benefit options to best meet their needs
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Capital
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a company's wealth in the form of money or property
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Cart-reminder email
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an email reminding a customer of his or her incomplete purchase left in an online shopping cart
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Cartel
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an organization of independent businesses formed to control production, pricing and marketing of a product
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Censorship
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the act of altering or editing media that is considered objectionable
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census
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a study that counts everyone in the research population
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Channel of Distribution
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include all of the businesses through which products or services pass on the way to the consumer
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Clarification
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offering back an interpretation of the meaning of the message, as understood by the listener and than asking questions to make things clearer
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Client-side researchers
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in-house staff researchers who also work with external research agencies
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Club Seats
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premium stadium seats usually located outdoors that provide a source of high revenue
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Cohesion
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the act or state of working, uniting, or sticking together
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Cohort
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a group of people who share certain characteristics
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Co-Branding
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a branding strategy that combines one or more brands to increase customer loyalty and sales for each product
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Cold calling
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involving contacting potential customers at random without researching the customer's needs first
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Collective bargaining
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occurs when a group of employees join together as a single unit to negotiate with employers
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Collective Bargaining Agreement
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when the players' association and the entertainment industry unions negotiate an employment contract with the owners or management
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commercialization
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process that involves producing and marketing new products
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comparative advantage
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the capability to produce products or services more efficiently and economically than the competition
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competition
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as a characteristic of free enterprise, the struggle among companies for consumers
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concessions
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snack-bars that sell refreshments such as popcorn, soda and candy
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consumer loyalty
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consumers' attitude that occurs when they are happy with a company and become repeat consumers
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consumers
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people who use products
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convergence
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the overlapping of product promotion
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consumer sales promotion
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when a sales promotion is direct at the final consumer
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contingency planning
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the preparation for an unexpected emergency
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contract
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an agreement enforceable by laws that details the transactions of business between two or more people
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convergency analytics
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the process of organizing data from multiple sources into usable information
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copy
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words to be spoken or printed in an ad, to convey their message
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copyright
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legally protects the unique work of the originator from use by others without permission
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corporate sponsorship
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using the name of a product or business as part of the name of an event venue
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core product
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the main product, such as sports event, movie, stage show or book
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corporation
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a form of business in which ownership is represented by shares of stock
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cost-per-thousand (CPM)
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when the cost effectiveness of a specific media is evaluated based on the cost of each exposure to an add divided by its reach in thousands
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cost plus pricing
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pricing products by calculating all costs and expenses and adding desired profit
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culture
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the shared history, beliefs, customs and traditions of a group of people that distinguishes them from another group
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customer management
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building a customer base and carefully scheduling time spent with customers
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customer service gap
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the difference between customer expectations and the service that is actually received
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customer's lifetime value
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a calculation of the estimated profit the business will earn from the customer
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crossover
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an expansion of the popular appeal of an artist or work by achieving success in another market or style
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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 products
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cross-selling
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the method of selling the customer additional related products tied to one name
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data-driven decisions
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decisions based on data and analysis rather than experience and intuition
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data interpretation
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finding meaning in data
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data mining
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using technology to "dig up" data
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democratic leader
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a leader who involves team members in the decision-making process
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Demographics
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shared characteristics of a group such as age, marital status, gender, ethnic background, income level and education level
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differentiation
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when a product is customized to appeal to different markets
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direct channel
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the path a product takes without the help of any intermediaries between the producer and consumer
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direct economic impact
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the total amount of new spending resulting from an event or attraction
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discretionary income
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the amount of money individuals have available to spend after paying for the necessities of life and other fixed expenses, such as housing and car payments
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disruptive technologies
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new technologies that change existing forms of communication channels
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distribution
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the locations and methods used to make products available to customers
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economic impact
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the effect produced by decisions that are made y consumers and businesses
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economic market
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all of the consumers who will purchase a product or service
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economic utility
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the amount of satisfaction a person receives from the consumption of a particular product or services
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economics
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the study of how goods and services are produced, distributed and consumed
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ecotourism
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responsible travel to natural areas that conserves the environment and improves the wellbeing of local people
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emotional purchases
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when consumers spend with little thought during emotional highs or lows
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endorsement
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a well-known person's public expression of approval or support for a product or service
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entertainment
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some type of performance that people are willing to spend their money and spare time watching
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entertainment marketing
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the process of developing, promoting and distributing products or goods and services, to satisfying customers' needs and wants through entertainment or any diversion, amusement or method of occupying time
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entertainment marketing
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influencing how people choose to spend their time and money on entertainment
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entertainment franchise
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a series of films, programs or character portrayals planned to expand the characters activities in a series
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enthnography
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the study of social and cultural behavior and habits
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entrepreneurs
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individuals who take the risk of start, owning an operating a business
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equilibrium
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the point at which the supply and demand curves intersect
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ethical dilemma
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when one has to choose between two equal moral principles
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ethics
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a system for deciding between right and wrong in a reasoned and impartial manner
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event triangle
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formed by the interaction of the event, the sponsors, and the fans
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event marketing
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all activities associated with the sale, distribution and promotion of a sports events
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exchange
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the give and take between the vent, the sponsors, and the fans
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executive summary
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placed at the front of the marketing plan to present a short, concise restatement of its contents
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experiential activations
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interactions with customers through festivals, tours, and licensed merchandise to retain satisfied customers
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evergreens
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films or products that are popular year after year
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exhibitors
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theaters that sell tickets and show films to an audience
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extreme sports
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sports that involve nontraditional, daring methods of athletic competition
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fad
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a short-term popular trends, style, product or service
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Fair use
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allows limited creative use of music, literature, movies and more without asking permission or making payment
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Feedback
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the receivers response to the sender's message
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fiscal year
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a 12-month accounting period
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Focus Group
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a panel of people who answer market research questions related to their observations or opinions about a product or service
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Forecast
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a report that predicts the expenses to be incurred and the revenues to earned
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Frequency
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the number of times the targeted group has been exposed to the message
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frequency table
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a table that show show often each numerical value, response, item or range of number in a set of data occurs
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fringe benefits
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incentives received in addition to base salary
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gender equity
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when opportunities for men and women are roughly equal
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generic brand
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a brand that represents a general product category and does not carry a company or brand name
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Gross Domestic Product (GDP)
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the value of all goods and services produced with a country
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Globalization
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the international economic relationships resulting from the integration of the world's markets
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Goodwill
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positive feelings aout the business
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Grass-roots effort
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when an unknown person or event is propelled into the spotlight by fans
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Gross Roots Marketing
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marketing activity on local community level
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gross impression
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the number of times per advertisement, game or show that a product or service is associated with an athlete, team or entertainer
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Gross Rating Points (GRP)
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multiplying the research by the frequency, expressed as a percentage, provides the estimated total potential audience
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gross revenue
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income from sales before costs, expenses, and taxes are deducted
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gross profit
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revenue minus the cost of goods sold
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Group Packages
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promotions that give special ticket prices to members of a group when tickets are purchased in large quantities
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Handler
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someone who manages an athlete's life off the field
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Hard data
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statistics gathered through valid research
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Human Resources
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the employees who work for an organization
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Income Statement
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a statement that shows all revenues received and all expenses incurred over a specific period of time
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in-concert movie
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contains film of actual concert performances
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indirect economic impact
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determined by the multiplier effect, which is the portion of the money spent by visitors on local goods and services that is in turn spent by local employers and employees on circulated in the area
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inflation
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occurs when prices for goods and services rise faster than consumers income
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image
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a mental picture or concept of something or someone
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implementation
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putting the marketing plan into action
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impulse spending
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buying without prior planning
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infrastructure
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the physical development of an area, including the major public systems, services and facilities of a country or region needed to make a location function
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integrity
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a strong, voluntary adherence to honesty and morality; often linked to ethical behavior
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intellectual property
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the unique works of writers, artists and musicians that are protected under copyright law
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intermediaries
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the businesses, or channel members, involved in making the product or services available
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international marketing
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marketing a product in another country
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International Olympic Committee (IOC)
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the governing authority of the Olympic Movement, which includes all of the National Olympic Committees (NOC), the International Sports Federations, Organizing Committees for the Olympic Games, athletes, sponsors, and broadcasting partners
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Internship
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a hands-on learning experience at a real work site
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Interpersonal skills
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an individuals character traits that allow him or her to effectively interact and work with other people
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Interpretation
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the explanation of research data in a way that makes it meaningful and informative
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institutional advertising
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advertising with a goal of developing goodwill or a positive image
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intangible product
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a nonphysical service such a tennis lessons, personal training, sports camp
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intermediary brand
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a brand that carries a name developed by the wholesaler, retailer, or catalog house
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jingle
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a catchy tune or song that promotes a product and accompanies television, radio or internet advertisements
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kinetoscope
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a device used to view a sequence of moving pictures
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Jargon
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language that relates to specific area and makes communication more concise
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Job Analysis
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the study of specific job to identify the duties and skill requirements of the job
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Joint Venture
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an agreement between two or more companies to work together on a business project
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labor union
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an organization of workers formatted to advance the rights and interests of its members
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Laissez-faire leader
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a leader who offers little or no guidance to team members and leaves the decision making to them
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Law of Demand
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when the prices goes up, demand goes down; when prices goes down, demand goes up
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Law of Supply
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when the prices goes up, the supply produced goes up; when the price goes down, the supply produced goes down
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Leads
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information and data on prospective customers who have shown interest in the product or service and/or meet the definition of the target market
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League Agreement
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controls the marketing mix and governs the distribution of professional sports games, including the locations of the teams, and the number of teams allowed in the league
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Liable
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being held legally responsible for damages and possibly medical costs and other losses suffered by the injured person
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licensed brand
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a well-known name and/or symbol established by one company and sold for use by another company to promote its products
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Lockout
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a period of time during which the owners keep the players form using the team facilities and shut down league operations
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Logistics
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the process of planning, organizing and managing the distribution of products and services
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Logo
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the graphic representation of a company's name
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Loss
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occurs when not enough revenue is made to cover expenses
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Loss-leader pricing
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involves reducing the price of a product below the store's cost to create more customer traffic
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Loyal Users
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people who open an app at least three times in 30 days
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Luxury Boxes (luxury suites)
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lavish rooms inside stadiums and arenas that allow corporate executives and some wealthy private individuals to entertain clients and friends while watching the event
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leisure time
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time free from work or duties
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licensed products
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goods or services that legally use logos or images owned by other companies or people
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licensing
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an agreement that gives a company the right to use another's brand name, patent or other intellectual property for a royalty or fee
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Local based entertainment (LBE)
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entertainment that includes amusement, theme, animal or water parks
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loss lender pricing
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pricing an item at cost or below cost to draw customers into store
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mall intercept
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a market research interview conducted in a public place, such as mall
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manufacturer brand
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a brand owned by the producer of a product
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market
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potential customers with shared needs who have the desire and ability to buy a product
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Market Research
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information that is specifically focused on a single target market
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Market Segment
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a group of consumers within a larger market who share one or more characteristics
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Market Share
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the percentage of total sales of a product or service that a company expects to capture in relation to its competitors
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Marketing
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the creating and maintenance of satisfying exchange relationships
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Marketing Concept
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keeping the focus on satisfying customers needs; requires maintaing important relationships with customers
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Marketing Information Systems
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a set of procedures and methods used to systematically collect, analyze, distribute and store information needed by business mangers to make decisions, including decisions about how to please customers
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Marketing Intelligence
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information gathered about competitors
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Marketing Manager
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the person who drives the creative development of the company's messages about its products
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Marketing Mix
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describes how a business blends the four marketing elements of product, distribution, price and promotion
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Marketing Plan
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a precisely written document that describes a company's situations analysis, marketing strategy and implementation plan for meeting company's objectives
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Marketing Research
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a process designed to provide solutions to marketing problems through the use of a scientific problem-solving system
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Marketing strategy
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an idea for achieving marketing objectives that can be put into action
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Markup
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the amount that is added to the cost of a product or service to cover operating expenses and to allow for a profit
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media advertisement
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any form of advertisement that uses media such as television, radio, the internet, newspapers, or magazines to promote ideas, good or services
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Mass Marketing
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an attempt to appeal to a large, general group of consumers
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Mass Media
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a term used to describe a method of distributing an event to a large volume of people - the masses
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Media
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the channels of communication used to spend a message to the target market
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media mix
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a combination of two or more promotional methods
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Mentor
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an experienced professional who willingly acts as a role model and provides guidance, encouragement and training for individuals
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Mission Statement
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the nature of the business and the reason that the company exists
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Multichannel video programming distribution
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a cable or satellite distributor
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Multigenerationalism
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satisfying the needs of several generations of a family
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Native Advertising
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online content created by a company that has the appearance of non-ad content, such as editorial
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NCAA
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a national, voluntary organization through which the nation's colleges and universities govern their athletic programs
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Networking
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the process of developing contacts with other individuals, groups, or organizations for the benefit of career development
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net profit
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gross profit minus expenses
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Niche Travel
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recreational travel or rours planned around a special interests
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niche marketing
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a type of marketing that focuses on small target market of consumers who have very similar interest
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Noncompete claus
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a provision in a contract that prohibits a person from working in a competing business for a specific period of time
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Nonprice clause
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when a business decides to emphasize other factors in the marketing mix besides price
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Nonrevenue Sports
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those sports that are funded by schools but dow not provide a return on investment
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non-media advertisement
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any form of advertising that uses methods other than the media to promote ideas, goods or services
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non-price competition
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competition between businesses based on quality, service and relationships
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nonprofit organization
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non-governmental organization that focuses on providing a service rather than a profit
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Occupational Outlook Handbook
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a publication of the Bureau of Labor Statistics that provides an overview of jobs and careers in different fields, including marketing
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Operating Expenses
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all of the costs associated with running a business in additional to the cost of merchandise
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Opportunity Cost
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value of the next best alternative that you pass up when making a choice
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observational research
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a method of collecting data by observing respondents in contrived or natural settings
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oligopoly
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business situation in which a few firms affect but do not control industry
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odd-even pricing
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pricing goods with either an odd number or even number to match a product's image
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Parody
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a humorous imitation of the original work
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payola
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an illegal payment by record labels to radio stations to persuade them to play the labels records
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Partnership
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when two or more individuals sign an agreement to own and operate a business together
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Patent
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a property right that excludes others from making, using, offering for sale, or selling the invention
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Patrongage Purchases
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purchases based on consumer loyalty to particular brand or product
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Penetration Price Strategy
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uses low pricing to help capture a large market share early
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Personal Selling
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in-person, face to face communication between a seller and a customer
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piracy
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the theft of copyrighted material
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platforms
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types of delivery systems
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podcasts
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a way of distributing multimedia files over the internet for later playback
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point of difference
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a unique product characteristic or benefit that sets it apart from comptitors
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Polyglots
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a strategy used by a company to differentiate its products or services from its competitors' products or services
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Positioning
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a strategy used by a company to differentiate its products or services from its competitors' products or services
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Positioning Statement
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the specific description of the unique qualities of a product's marketing mix
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Pre-approach
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the first step in the sales process whereby the salesperson learns everything possible about the product and services offered, the target market, and the competition
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Predictive Search
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a feature that reviews your private data to provide you with answers to questions it predicts you might ask
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prestige pricing
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pricing based on sumer perception
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press release
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a newsworthy article that provides the basic information to answer questions, such as who, what, when, where and why
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Price
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the amount that customers pay for products
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Price discrimination
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occurs when an individual, group or business is charged a higher price than others purchasing the same product or service
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Price fixing
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occurs when related businesses conspire to charge high prices
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price lining
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selling all goods in a product line at specific price points
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Price Lines
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distinct categories of merchandise based on price, quality and features
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Price Points
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the range of prices charged for a category of merchandise
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primary data
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information collected from primary or original research
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primary market
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in film distribution, the target audience which is the theaters that show films in first release
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Prime Time
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the block of time during the middle of the evening when the largest number of views is watching
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Principles
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the rules or codes of conduct on which ethical behavior is based
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Probationary Period
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a test period of a few months to determine whether an employee can fulfill the needs of an organization
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Product
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what a business offers customers to satisfy needs
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Product Enhancements
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features added to the basic product to satisfy additional needs and wants with a single purchase
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Product Extensions
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items offered in addition to the product to make it more attractive to the target market
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Product Life Cycle
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four stages of product including; introduction, growth, maturity, and decline
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Product Line
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a group of similar products with slight variations to satisfy the different needs of consumers
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product item
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specific model or size of a product
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Product Mix
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a new product's final form and its total assorted features, including the brand name, the various products offered under the brand and the packaging
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Product Placement
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the integration into a movie or television show of a product
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product testing
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assessment of a product to see if it works, meets industry standards for safety, and is user-friendly
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Product Portfolio
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rate at which all of the products a company has available for customers at any one time
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Productivity
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rate at which companies product goods or services in relation to the amount of materials and number of employees utilized
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Professional Development
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includes all meetings, courses, seminars, and networking opportunities that enhance an individual's knowledge and performance in his or her career area
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Professional Organizations
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associations for professionals in the same or similar industries formed for the purposes of continuing education and networking
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Profit
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the amount of money remaining from income after all expenses are paid
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profit margin
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the difference between expenses and retail price, expressed as a percent or dollar amount
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Profit Motive
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when a company makes decisions on how to use resources in ways that result in the greatest profit
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Project Matrix
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a chart displaying the tasks, groups, or individuals responsible for competition of the tasks and the due dates or timelines
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Promotion
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ways to make customers aware of products and encourage them to buy
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promotional advertising
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advertising with a goal of selling an item being promoted
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promotional mix
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the blending of the promotional elements of advertising, sales promotion, publicity and personal selling
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promotional plan
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a written, detailed description of how the four elements of the promotion - advertising, sales promotion, publicity, and personal selling - will be used
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Public domain
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the realm in which the originator's' work can be used by anyone without cost or permission
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Public Relations (PR)
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the arm of promotion that tries to create a favorable public opinion for an individual or organization
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Public relations specialist
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an individual hired to build and maintain position relationships between his or her employer and the public
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Publicist
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the person responsible for maintaining relations with the public and news media
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Publicity
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unpaid media attention, whether negative or positive, about a business and its products, services or events
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Qualitative Measurement
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a method used to measure results that is subjective and depends on interpretation
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Quantitative Measurement
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a method used to measure results that provides information in terms of numbers or percentages
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rack jobbers
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independent vendors who distribute, price, and control their own inventory within a store
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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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Rations
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the number of views a program atracts
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Rational Purchases
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when consumers recognize needs and wants, assess their priorities and budget, conduct research, compare alternatives and then make purchases based on careful thought and sound reasoning
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Reach
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the number of people in the target market expected to receive message through the chosen medium (such as TV commercial or magazine ad)
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reflection
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paraphrasing or restating what the speaker has said to demonstrate your understanding
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return on investment
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calculates the business's return as a percentage of the money invested
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revenue stream
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an activity that will produce money
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risk
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the possibility of financial goal or loss on personal injury
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risk assessment
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a step-by-step process by which knowledgable safety and security staff identify and prepare to manage risks
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risk management
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preventing, reducing, or lessening the negative impacts of risk
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royalty
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the payment for the use of copyrighted work
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Salary
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a specified amount paid annually for a job regardless of the number of hours worked
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Salary Cap
answer
maximum amount that a team can spend on players' salaries
question
Sales Promotion
answer
an additional incentive offered for a limited time to encourage consumers to buy a product
question
sample
answer
a small number of people representative of a large group
question
secondary data
answer
information collected form secondary or preexisting research for a purpose other than current study
question
scarcity
answer
occurs when there is a limited amount of resources needed to produce an distribute goods and services
question
shopping cart abandoners
answer
people who start to make online purchase but leave the website without completing it
question
shoulder period
answer
a period of moderate demand
question
situational analysis
answer
an in-depth look at the current conditions of the business, the competition, and the target customer
question
skimming price strategy
answer
introduces new products at a very high price
question
slogan
answer
a catch phrase or small groups of words that are combined in a special way to identify a product or company
question
SMART objectives
answer
specific, measurable, attainable, relevant, and timely objectives
question
Soft Data
answer
data based on educational guess
question
sole proprietorship
answer
a business that is owned and operated by one person
question
sponsorship
answer
occurs when an individual or business provides products, services, or financial support for a sports team or an event
question
sports marketing
answer
using sports to market products
question
Strategic Thinking
answer
the process of finding unique, innovative ways to reach objective
question
Strike
answer
a work, stoppage caused by the voluntary temporary refusal of the employees to work
question
Student Professional Organizations
answer
associations for students that foster leadership, civic consciousness career training and social responsibility
question
suggestion selling
answer
occurs when the salesperson asks customers if they want to purchase related products
question
SWOT anlysis
answer
an examination of the businesses strengths, weaknesses, opportunities and threats
question
Syndicated Research
answer
when research is conducted by an independent company and then offered for sale to all businesses in the industry
question
Tactics
answer
the actions taken to implement the strategy
question
Target Market
answer
a specific group of consumers a business wants to research
question
Ticket Brokers
answer
registered businesses that legally buy and resell tickets to a variety of entertainment events and guarantee ticket authenticity
question
Ticket scalpers
answer
individuals who sell tickets to major sporting and entertainment events, often outside the venue on the day of the event, for inflated prices
question
Time shifting
answer
the recording of a television show for private viewing later
question
Trade sales promotion
answer
when a sales promotion is directed at members of the distribution channel
question
trademark
answer
the legal protection of words and symbols used by a company
question
trailer mash up
answer
combines the short ads, or trailers for all the award-nominated films into one short film that is posted online
question
Values-Based Culture
answer
a culture that communicates values through high performance and excellent customer service
question
Venture Capital
answer
financing provided to start a company in return for owning part of the company
question
Venue
answer
the facility where an event is held
question
Viral Campaign
answer
a promotion in which a few online mentions produce millions of commments
question
Visual merchandising
answer
the process of creating three-dimension displays to promote products
question
Wide Release
answer
involves distributing a movie nationally to thousands or more theaters at the same time
question
data interpretation
answer
finding meaning in data
question
merchandising
answer
the variety of promotional activities and materials that complement and support the advertising effort
question
motionmark
answer
a trademark identified by specific movement associated with a brand or company
question
mystery shopper
answer
a market research who poses as a shopper to observe how consumers and retailers behave in shopping situations
question
release date
answer
the day a film is first show in theaters
question
respondents
answer
a consumer who participates in personal interactive interviews or other research methods
question
soundmark
answer
a trademark identified by sound associated with a brand or company
question
sport agencies
answer
companies that specialize in marketing and managing sports events, sports teams and professional athletes
question
sports consumer
answer
a person who may play, officiate, watch or listen to sports or read, use, purchase and/or collect items related to sports
question
Sports Franchise
answer
an agreement or contract for a sports organizational to sell a parent company's (i.e. national sports league) good or service within a given area
question
syndication
answer
selling television programs to individual stations, not networks
question
synergy
answer
a combined action that occurs when products owned by one source promote the growth of related products
question
Title IX
answer
law that bands gender discrimination in schools that receive federal funds
question
traffic count
answer
a measure of how many people stop or do not stop to look at an ad or store display
question
trailers
answer
previews of upcoming movies shown before the main feature
question
trend
answer
pattern, habit or tendency following a general course
question
vendors
answer
sellers of products
question
viability
answer
the possibility of successful operation and profitability of a business
question
yield management pricing
answer
pricing items at different prices to maximize revenue when limited capacity is involved
