Intro to Sport Management Chapter 13

Barnstorming tours
The travel and appearances at events of star athletes and teams to promote the popularity of a particular sport
Budgeting
The process of developing a written plan of revenues and expenses for a particular accounting cycle; the budget specifies available funds among the many purposes of an organization to control spending and achieve organizational goals
Business development
A business function focused on strategy, creating strategic partnerships, and relationships with suppliers and customers. The business development function focuses on strategic deal-making with a goal of increasing sales, attracting new clients, and expanding a company’s long term business success or scope.
Cash-flow budgeting
Accounting for the receipt and timing of all sources and expenditures of money
Cause-related marketing efforts
An event sponsored by a corporation for the purpose of generating money for a particular cause
event marketing
The process of promoting and selling a sport or special event; it encompasses nine areas: sales of corporate sponsorship, advertising efforts, public relations activities, hospitality, ticket sales, broadcasting, Web site development and management, licensing/merchandising, and fund-raising.
Full service agencies
Sport management/marketing agencies that perform a complete set of agency functions
Grassroots programs
Activities and events that target individuals at the most basic level of involvement, sport participation
Hospitality
Providing a satisfying experience for all stakeholders in an event (participants, spectators, media, and sponsors)
In-house agencies
Separate departments or divisions within a major corporation that deal with event management
In-kind sponsorships
Sponsorship benefits given to a newspaper, magazine, radio station, or television station in exchange for a specified number of free advertising spots or space, rather than money.
Integrated marketing
Long term strategic planning for managing functions in a consistent manner
Licensed merchandise
Items bearing the logo or trademark of a sport organization; their sale generates a royalty (% of the net or wholesale selling price) for the sport organization
Niche sports
Sports that are unique and appealing to a distinct segment of the market, whether defined by age demographics such as the Millennial Generation or Generation Y, or the socioeconomic class as is seen with sailing and polo’s appeal to a higher income level.
Not-for-profit
A classification of an event or organization; most often, not-for-profit events focus on raising money for a charitable enterprise.
Registration system
A system for registering participants in events and collecting and disseminating the appropriate information
Risk management
Protecting a business or organization from anything that could possibly go wrong and lead to a loss of revenues or customers; developing a management strategy to prevent legal disputes from arising and to deal with them if they do occur
Script
A specific detailed, minute-by-minute schedule of activities throughout an event’s day, including information on a) the time of day and the activities taking place then, b) the operational needs (equipment and setup), and c) the event person or persons in charge of the various activities
Specialized agencies
A sport management/ marketing agency that limits the scope of services performed or the type of clients serviced
Sport Management/Marketing agencies
A business that acts on behalf of a sport property (i/e., a person, company, event, team, or place)
Sport property
An athlete, company, event, team, or place
Tournament Operations
Pre-event, actual event, and post-even activities for staging an event
Vertical Integration
The effort of a sport management/marketing agency to control all aspects of an event
Volunteer management
The supervision of volunteers involved with an event; it involved two areas: 1) working with event organizers and staff to determine the areas in which volunteers are needed and the quantity needed, and 2) soliciting, training, and managing the volunteers.
Zero base budgeting
Reviewing all activities and related costs as if the event were being produced or occurring for the first time; previous budgets and actual revenues and expenses are ignored.