Sports Marketing Definitions

Brand
a name, word, or symbol or design that identifies an organization and its products
Endorsement
a persons public expression of approval or support for a product or service. They are a promotional tool rather than a form of sponsorship.
Brand Equity
the value a brand has beyond its actual functional benefits
Trademark
a device that legally identifies ownership of a registered brand or trade name
Return
the profit a sponsor earns from its support of an athlete or teams
Extreme Sports
sports that involve nontraditional daring methods of athletic competition
Brand Name
a word or words, letters, or numbers representing a brand
Amateur Athlete
a person who does not get paid to play a sport
NCAA
National Collegiate Athletic Association; governs college athletes and overseas important decisions pertaining to athletics
Title IX
a law that bans gender discrimination in schools brand so increase. mo exactly mobiles receive federal funds
Professional Athlete
an athlete who has the will and ability to earn an incomeus from a particular sport
Sports Marketing
alle the marketing activities designed to satisfy the needs and wants of sports consumers
Generic Brand
represents general product category and doesn’t carry a company or brand name
Affinity Sports
niche markets whose participants are just as passionate about their sports as are enthusiasts of the more traditional sport
Niche Marketing
involves researching a target market to determine the specific items or services a small group of people will buy
Sponsor
a person, organization, or business or donates products and services to another person, organization or event in exchange for public recognition
Co-Branding
combines one or more brands to increase customer loyalty and sales for each product
Manufacturer Brand
owned by the producer of the product
Intermediary Brand
carries a name developed by the wholesaler, retailer, or catalog house
Market
all people who share similar needs and wants and who have the ability to purchase a give product
Consumer Market
consists of consumers who purchase goods and services for personal use
Organizational Market
business-to-business market includes all businesses that buy products for use in their operations
Market Share
a company’s percentage of its total sales
Target Market
a group that is identified for a specific marketing program
Customer Profile
lists information about the target market, such as age, gender, income level, marital status, ethnic background, geographic residence, lifestyle, and behavior
Marketing Mix
includes four basic marketing strategies called the Four P’s: product, place, price, and promotion
Consumers
people who use products
Discretionary Income
money left to spend after necessary expenses are paid
Kinetoscope
a device for viewing moving pictures invented by Thomas Edison
Vendors
sellers of products that compete for a share of the money people spend on recreation
Product
a good or service that any for-profit industry sells to its customers
Promotion
any form of communication used to persuade people to buy products through advertising, publicity, personal selling, or sales
Core Product
main product
Ancillary Product
a product related to or created from the core product
Revenue
gross income
Piracy
the unauthorized use of an owners or creators music, movies, or other copyrighted material
Royalty
a payment for material that has been copyrighted or legally declared as belonging to the creator
Product Tie-In
the use of ancillary products such as merchandise for promotional tools
Cross-Promotion
any form of communication through which one industry relies on another industry to promote its product
Convergence
the overlapping of product promotion
Synergy
a combines action that occurs when products owned by one source promote the growth of related products
Risks
unforeseen events and obstacles that can negatively affect business
Risk Management
a strategy to offset business risks
Consumer Loyalty
when customers are happy with a company’s product and become repeat customers
Sponsorship
the promotion of a company in association with a property
Entertainment Marketing
the process of developing, promoting, and distributing products, or goods and services, to satisfy customers needs and wants through entertainment
Media
methods used for communicating or transmitting messages
Fad
a short-term popular trend, style, product, or service
Cross-selling
the method of selling additional related products tied to one name
Break Even
have costs and expenses equal the income revenue
Oligopoly
a business situation in which a few firms affect but do not control an industry
Ratings
the rankings of TV show or radio show popularity in a certain time period
Affiliate
an independent broadcaster that contracts with larger national networks for programming
Brick-and-Mortar Store
a retail business with a physical location or store site
Leisure Time
anytime that you are free from work and duties
Low Budget Movies
generally those costing less than $250,000 to produce, have low advertising budgets
Vertical Integration
one company that controls several different areas of the same industrt
Wide Release
movies opened in more than 2,000 theaters
MOU
a written agreement that contains voluntary technical standards
Preview
the release of a movie the evening before its official opening
Broadcast Webs
groups of television networks, production studios and related entertainment films that produce shows in house for their groups
Trailers
advertisements for upcoming movies
Matinees
pre-evening shows generally have less audience and lower prices tickets
Information Utility
involves getting the information to the consumer
Possession Utility
exchange of a product from monetary value
Time Utility
having a product available at a certain time of year or convenient time of time
Place Utility
having a product where customers can buy it
Form Utility
changing raw materials or putting parts together to make them more useful
Utility
the added value to a product comes from the Latin word utilis
Distribution
including methods of transporting and tracking your product
Financing
getting the money needed to finance the operation of a business
Marketing Information Management
process of obtaining the marketing information needed to make sound business decisions
Selling
providing customers with the goods and services they wish to buy
Product Service Planning
decisions made by a business in relation to the product of goods and servces
Pricing
deciding how much to charge for goods and sefvices
Professional Development
career growth, development, and exploration
Economics
understanding economic principles and concepts that are basic to marketing orinciples
Communication and Interpersonal
interacting effectively with others
Business, Management, Entrepeneurship
having management skills to run a business
Intangible
service, can’t physically touch it
Tangible
good, can physically touch it
Non-Profit Organization
they receive no money for the good or service they provide