Chapter 12 Marketing

What is sport marketing as defined in the book?
the process of designing and implementing activities for the production, pricing, promotion, and distribution of a sport product or sport business product to satisfy the needs or desires of consumers and to achieve the companies objectives
What are the 6 unique characteristics of sport?
1) Aspects of sport are intangible
2) Sport involves emotions
3) Sport is subjective and heterogeneous
4) sport is unpredictable and inconsistent
5) Sport is perishable
6) Sport is generally socially consumed
What is a marketing plan?
road map or game plan for an organization’s marketing activities
What are the four primary elements of a marketing plan?
1) Product
2) Price
3) Place
4) Promotion
What is marketing mix?
the elements of product, price, place, and promotion which sport marketers manipulate to achieve marketing goals and objectives
What is a product?
a tangible good, service, or intangible quality that satisfies consumers wants or needs
What is price?
the value of the product and the cost a consumer must pay to receive product
What is place?
the distribution channels that allow consumers to access or obtain the product
What is promotion?
communication and PR activities that convince and persuade consumers to by product
What are the 10 Ps to developing a sport marketing plan?
purpose, product, projecting the market, positioning, players, packaging, pricing, promotion, place, promise
What does step 1 of the marketing plan -Purpose- do?
setting purpose for the plan and linking it to the mission statement
What questions are mission statements meant to answer?
-why does organization exist
-what is organization trying to achieve
What are goals?
general summary statements of expected outcomes
What are objectives?
specific activities that help achieve expected outcomes
What does step 2 of marketing plan – product – do?
analyzes the dynamic and complex nature of a sport product
The sport product is ______ dimensional,
three
What are the three dimensions of a sport product?
1) Tangible goods
2) Support Services
3) The game or event
What is the core product of a sporting event?
the actual competition
What does step 3 of the marketing plan -Project- aim to do?
analysis of past and current market climate to project the future market climate.
What are internal factors?
factors inside the sport organization that affect the sport marketing climate.
What are external factors?
factors outside of a sport organization that affect the sport marketing climate
What is the SWOT Analysis?
a management technique to help marketers assess internal strengths and weaknesses along with external opportunities and threats
What are the four parts of the SWOT Analysis?
1) Strengths
2) Weaknesses
3) Opportunities
4) Threats
What is the key for marketing success?
organizations strengths and opportunities outweigh its weaknesses and threats
What does step for in the marketing plan -positioning- do?
process of establishing a sport entity in the minds of consumers by creating an image that sets your product apart from competing products
What are the four key elements of effective communication?
1)Open and honest
2)messages and image is socially responsible
3)Respond to publics interests
4) good faith relations with public
What is branding?
process of using a name, design, symbol, or any combination of the three to help differentiate a sport product from the competition
What is brand awareness?
The consumers recognition and recollection of the brand name
What is brand image?
The consumers perceptions and set of beliefs about a brand which, in turn, shape their attitudes
What is brand equity?
The value that the brand contributes to a product in the market place
What is brand loyalty?
The consistent purchase or repeat purchase of one brand over all others in a product category
What is step 5 of the marketing plan -players-?
its where you pick the players aka the consumers and target them
What is market segmentation?
process of breaking large populations of sport consumers into smaller identifiable groups with similar wants and needs
what is demographic segmentation?
cluster sports consumers based on age, gender, income, race, education, and place of risedence
What is psychographic segmentation?
segment based on attitudes, interests and lifestlye
What is market segmentation based on media preferences?
group people based on their sport media preferences
What is market segmentation in terms of purchasing behavior?
how often they consume certain products
What does the 6 step in the marketing plan -packaging- do?
presenting the product in its best manner to its selected target audience to make them want to consume it
what is sport sponsorship?
an agreement between a sports organization and a corporation where the corporation pays a fee to sports organization to be affiliated with it.
What does the 7 step of the sport marketing plan -pricing- do?
determines the value of a product by assigning it a price
What is the most visible and flexible element of a product?
price
What four factors should be considered when developing a pricing strategy?
1) Consumer
2) Competitor
3) Company
4) Climate
What is step 8 in the marketing plan -promotion- doing?
communicate, educate, and pursued to the audience to buy your product
What is the promotional mix?
elements that compose a promotion strategy
What are the 8 elements of a promotion strategy?
1)Advertising
2)Publicity
3)Activities and inducements
4)Public Relations
5)Community Relations
6)Media Relations
7)Personal selling
8)Sponsorship
what is advertising?
paid messages about the sport product
what is publicity?
nonpaid communication about a sport product, usually news worthy
What are activities and inducements?
promotions to encourage consumers to purchase the sport product
-like givaways , raffles
What is public relations?
activities and programs that help develop relationship with perspective target audiences
What is community relations?
activities and programs that meet the need and interest of the community and establish good faith relationships with them
What is media relations?
relationships with media to gain good exposure and maintenance of networks
What is personal selling?
direct face to face communication
What is the 9 step of marketing plan -place- do?
analyzes the place of the sport product
What does place mean?
the manner in which sport is distributed to its consumers
-location
-origin of distribution
-how it will be transported
What is the 10 step of the sport marketing plan -promise- do?
evaluates the extent to which the marketing plan met its promise to help achieve the sport organizations mission