sports and recreation marketing midterm – Flashcards
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Define marketing
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is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders"
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marketing defined (points to) remember
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-organizational function -set of processes -for creating, communicating and delivering value -managing customer relationships - benefit the organization& stakeholders
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4 Types of products
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Tangible good Service Idea Behavior
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3 Marketing Sectors for recreation
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1.Marketing through sport/recreation 2.Marketing of sport/recreation 3.Promotion of sport/recreation
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6 Marketing Theory's
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1. Exchange 2. Value and utility 3. Needs and wants 4. Applied sociology 5. Relationship marketing (1:1 marketing) 6. The two tasks of marketing
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exchange theory
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Perceived value is greater than the cost. Value varies from one individual to the next.
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value and Utility theory
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value provided from satisfying a need or want. 4 utilities provide value to the customer. Form, time, place and possession • Must be met to provide value
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4 utilities
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Form - tangible properties Time - consumer's ability to access the product at the right time. Place -purchase and/or receive the product at a convenient and accessible location. Possession -take ownership of the product immediately.
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Needs and Wants theory
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The satisfaction of consumer needs and wants. Argument that wants have become needs Examples of needs and wants
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Applied Sociology theory
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Marketers seek to: understand society How it functions in order to be successful Work within society - meet the specific needs of specific consumers.
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Relationship marketing (1:1 marketing) theory
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The way in which technology has enabled mass market offerings to be customized in order to meet the specific need of specific consumers.
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The two tasks of marketing theory
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Discovering customer needs and wants and then satisfying them. 1. Discovery through market research 2. Strategy development and implementation through the application of marketing principals.
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Marketing Environment
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Considerations when developing new products. How to introduce them to the consumer (competition and spending )
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Developing a Marketing Plan(6 stages )
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1. Executive Summary 2. Market Research 3. Marketing Strategy 4. Action Plan and Financials 5. Organizational Implications 6. Evaluation and Monitoring
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Stage 1 -Marketing Plan
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Summary of market plan Written upon completion of plan
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Stage 2 -Marketing research
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Define the issue Set Objectives Situational Analysis - 3 C's, SWOT, PEST Research type, technique and design Collect data Organize and analyze data Prepare and present market research findings
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The 3 C's (Situational Analysis)
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Company Consumers Competition
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3 forms of competition
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Direct competitors Substitutes Future Competition
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SWOT
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Is an Internal assessment tool used to understand and Examine 4 key factors: Strengths (• Internal • What advantages? • What do you do better? • What unique or lowest-cost resources can you draw upon that others can't? • What do people in your market see as your strengths? ) Opportunities (• External • What good opportunities can you spot? • What interesting trends are you aware of? • Technology, policy, social patterns, population) Weaknesses (• Internal • What could you improve? • What should you avoid? • What are people in your market likely to see as weaknesses? • What factors lose you sales?) Threats (• External • Obstacles? • What are your competitors doing? • Are quality standards/specifications changing? • Changing technology threatening your position? • Bad debt or cash-flow problems? • Could weaknesses seriously threaten your business?)
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PEST
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Tool to understanding external environment Political (• Election -when, change in government? • Legislation, taxation changes? • Government stance on corporate policy, environmental issues, etc? • Legislative changes? ) Economic (• Current economy -grow, stagnant, decline? • Exchange rates? • Disposable income -change over coming years? • Unemployment rate? Easy to hire skilled workforce? • Access to credit? ) Social (• Population growth rate and age profile? • Generational shift in attitudes? • Society level of health, education, etc? • Job market trends, attitudes toward work - different with ages? • Lifestyle choices?) Technological (• New technologies? • Competitor access to new technology? • Infrastructure changes -working from home?)
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Difference between SWOT vs PEST
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• PEST -Assesses a market including competitors from a particular lens. -Can be useful before SWOT • SWOT -Assesses a business -yours or competition
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Stage 3- Marketing strategy
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STP Marketing Mix - 4 Ps Marketing Objectives and tactics
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4 P's
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Product Price Place Promotion
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Stage 4-Action Plan & Financials
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Detailed plan outlining how to activate on marketing strategy Financial impact and budgeting
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Organizational Implications
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What other impacts of the marketing plan will impact organization: Staffing Computers
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Marketing strategy STP
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Segmenting Targeting Positioning
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Evaluation and Monitoring
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Ongoing evaluation Progress Successes Adjust
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Market Research Defined
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Is the process of gathering information. which will make you more aware of how the people you hope to sell to will react to your current or potential products and services.
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What is market research good for? (not on exam)
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Educated and timely decisions New opportunities New market segments Identify needs
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Market Research Process (7 steps)
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1. Define issue ( programs at city rec center have declined in last 5 years ) 2. Objectives and budget ( to investigate why programs have declined ) 3. Situational analysis(3 C's,SWOT,PEST) 4. Research Type, Technique & Design 5. Collect Data 6. Organize &Analyze Data 7. Present Findings
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Market Research- two methods
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Secondary research Primary Research
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SECONDARY RESEARCH
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-Quick and inexpensive -Data are those that have been collected for other uses -Contains pertinent information -Common source: Statistics Canada, libraries, internet, industry associations, competing organizations
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Market Research Definition( points)
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•High tailored process •Each study different and customized. •Used to gather information about: - Industry - Products - Competition - Clients
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PRIMARY RESEARCH
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Accumulating data specifically for the purpose of the research. Used when secondary data are inadequate and inappropriate. Process: planning a research design, sampling, and collecting specific data and information
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3 Primary types of Market Research
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• Exploratory research • Descriptive research • Causal research
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Exploratory research
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• Used when issue vague • Helps define initial issue • Unexpectedly discover new ideas, opportunities and problems. • Techniques: observation, pilot studies, interviews, expert interviews, focus groups
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6 research techniques
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1. Questionnaire 2. Interview (Expert Interview) 3. Experiment 4. Secondary Data 5. Observation 6. Focus Groups
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Questionnaire
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• aka a survey • A sample of respondents • Includes scale questions, open-ended questions, and questions about demographic characteristics. • Economical
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Interview (Expert Interview)
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• A qualitative method • Asks an individual respondent a variety of questions (typically open ended) and records answers. • Other form - Expert interview • Costly • Allow for probing of additional info
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Descriptive research
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• Used when problem/issue is defined • Asks specific questions - who, what, when, where, why, and how • Techniques: surveys, experiments, focus groups, observation
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Causal research
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• Problem / issue well understood and defined • To discover the cause and effect relationships between two known variables. • Technique: experiment, where one variable's relationship to another is tested.
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Experiment
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• Controlled research • Researcher views consumer behavior • Real Life (Controlled) • Inspect relationships between two or more variables. • Expensive
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Secondary Data
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• Search of studies completed by others
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Observation
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• Non-intrusive • Observe in real life environments
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Focus Groups
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• A qualitative technique • Large group at table • Facilitated • Costly
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Focus groups do's and don't
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No opinion/comment is wrong Encourage engagement from everyone. Dress similar to participants
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qualitative data
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non numerical Common language common themes or Major differences
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quantitative data
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can be counted numerically by: • Percentage • Mean • Median • Mode • Range. max
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Present Findings
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• Identify up to four key points your company needs to know • Identify up to four key recommendations based on your market research. • Point form
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Focus group question structure
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1. Opening Question( "Tell us your name and what you like doing." ) 2. Introductory Questions - foster discussion ( "What do you enjoy doing most for leisure?" ) 3. Key Questions Very specific to the research topic 4. Transition Questions ("Could you say more about....." ) 5. Ending Question ( "Is this an adequate summary?")
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Conducting your research
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• What is research ethics • Norms for research conduct • Distinguish between acceptable and unacceptable behavior
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Research Ethics - Core Responsibilities
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• Recruitment • Consent Process • Data Collection and Analysis • Data Storage • Sharing of Findings
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PARTICIPANT CONSUMPTION BEHAVIOR
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internal factors external factors participant decision-making process situational factors
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internal factors
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Perception - how people see themselves in the world they live. Learning - developing automatic responses. Personality - Individual's personal characteristics. Motivation - The force that spurs certain actions.
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external factors
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Culture - Age, ethnicity, religious belief, geographic location, special interest. Social Class - Social standing an individual has within society. Reference groups - Groups of people others emulate or would like to become like(family is largest reference has the most influence )
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participant decision-making process
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5 steps 1. Problem Recognition ( Evaluation of Alternatives) 2. Information Search (Search for information to help solve it:• Internal memory• Extensive external search) 3. Evaluation of Alternatives (Consumer sets criteria for evaluating purchase• Cost, availability, fit with personal schedule, friends participating • Consumer evaluates to maximize value) 4. Participation (Most important outcome of the consumer decision making process • Can trigger other consumption decisions • Marketer needs to be aware of how the original decision is followed by other Problem purchasing actions) 5. Post participation Evaluation (• Consumer evaluation • Actual experience vs expectations • Determine satisfaction level)
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situational factors
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Physical surroundings Social surroundings Task definition Antecedent states Time
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RECREATION & LEISURE CONSUMER
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Pace of life for Canadians continues to increase. Time available for recreation and leisure is decreasing. Self reliant when it comes to recreation participation. BUT Still rely heavily on local governments for participation opportunities.
