Download Marketing Sports and Entertainment Review - Hatboro

Name ________________________ Date __________ Class Period _________________
Ms. Radosin
Marketing Sports and Entertainment Review
1. What are the four parts of the marketing process (marketing mix)?
Product, price, promotion and place
2. What is mass marketing?
The promotion of a product intended to be sold to a relatively high proportion of the population
rather than a target market. This is the way advertising used to be used before marketing research
became more popular.
3. Why do organizations spend a lot of money to learn about customers wants and needs?
Organizations spend a lot of money on this in order to give customers what they want and need
rather than what they think customers want/need.
4. Which of the four P’s communicates with the customer?
Promotion
5. What is the study of choices and decisions that affect making, distributing, and using
goods and services?
Economics
6. What is the GDP?
Gross Domestic Product is measured by the profits businesses show within the boundaries of a
country.
7. What is demand elasticity?
Competition that is based on price and the available substitutes.
8. What are the different types of business ownership we talked about in class?
Sole proprietary, partnership, corporations and franchises
9. What is discretionary income?
Money left over after expenses are paid to use as the consumer pleases.
10. What is a core product?
The main product such as a sports event.
11. What are scalpers?
Unauthorized ticket sellers that affect pricing of sports events.
12. What is a copyright?
The legal protection of a creator’s intellectual property or product.
13. What is risk?
Unforeseeable events and obstacles that can negativity affect business.
14. What is synergy?
A combined action that occurs when products owned by one source promote the growth of
related products which is a goal of sports and entertainment marketing.
15. What is virtual advertising?
A newer form of advertising in which companies pay to have their logos digitally overlaid onto a
billboard during a televised game.
16. What is the NCAA?
The National Collegiate Athletic Association ranks schools based on the size of its crowds at
games making a important economic impact of the school and community in its division.
17. What games were first organized for WWII veterans with spinal cord related injuries?
Paralympics Games
18. What is the WNBA?
Women’s National Basketball Association
Name ________________________ Date __________ Class Period _________________
Ms. Radosin
19. What influences a sports consumer’s decision to purchase goods or services?
Family and friends, self-concept, gender
20. How did Tiger Woods influence the shift in market segmentation in the teenage
consumer market?
A teenage consumer market developed
21. How does quality of service influence a buyer?
Assurance, empathy, and reliability
22. What is a sports franchise?
An agreement or contract for a sports organization to sell a parent company’s good or service
within a given area. This was the idea of local developer and banker Jim Hewitt in promoting the
Orlando Magic team as hometown team of Orlando, Florida.
23. What is grassroots marketing?
Marketing activity on a local community level such as raising money for charity by assisting
with fundraising events.
24. What is a product line?
A group of closely related products that are sold by a company. Example: hair care, sports
equipment, etc.
25. What is business analysis?
A step in new product development in which the financial aspects of making and marketing the
product is reviewed.
26. What are the parts of the product life cycle?
Introduction, Growth, Maturity, and Decline.
27. What is markup?
The difference between the retail or wholesale price and the cost of an item.
28. What is bundle pricing?
A pricing strategy that involves selling several items as a package for a set price.
29. What is price fixing?
An illegal practice of competitors conspiring to set the same prices.
30. What are the steps in the research process?
Identify the problem, conduct primary research, conduct secondary research, and report and
analyze data.
31. What is the difference between primary and secondary research? Examples?
Primary—research conducted for a specific marketing situation. Secondary—Useful data that
has been collected from other sources, example: U.S. Census
32. What is direct marketing?
Marketing activities to sell products directly to customers through the use of a customer
database.
33. What are the indirect channels of distribution?
The path a product takes using intermediaries such as a wholesaler, retailer, or agent, between
the producer and the customer
34. What are agents?
An intermediary in the indirect channel of distribution.
35. What are multiple channels?
Multiple channels from the indirect channel of distribution provides opportunities for producers
to reach different parts of the consumer market.
36. Define the term brand.
Is a name, symbol, or word or words, or design that identifies an organization and its products.
Example: Nike
37. What is a trade name?
Is the legal name of a company such as Disney.
Name ________________________ Date __________ Class Period _________________
Ms. Radosin
38. What are the 3 steps in establishing brand equity?
Develop, link and help are the 3 steps.
39. What is co-branding?
A branding strategy that combines one or more brands to increase customer loyalty and sales for
each product.
40. What is licensing?
Is an agreement that gives a company the right to use another’s brand name, patent, or other
intellectual property for a royalty or fee.
41. Promotional packages for sponsors may include what?
Licensing rights, stadium promotions, product sampling, signage, product sales, billboards,
hospitality opportunities, receptions with the athletes, free tickets, and on-site merchandising
opportunities.
42. What are premium sponsors?
These are the primary sponsors of an event that receive more options and opportunities than the
minor sponsors such as products and entitlements
43. What is the difference between a sponsorship and an endorsement?
Sponsorship is the promotion of a company in association with a property while an endorsement
is usually a paid approval or support of a product or idea, usually by a celebrity
44. What are the 3 most common ways to set a promotional budget?
Competitive parity, objective and task method, and percentage of sales
45. What is institutional advertising?
Advertising with a goal of developing goodwill or a positive image. Example: How PhillipMorris helps the community.
46. What is a press release?
Provides the basic info to answer questions such as who, what, where, when and why for
publicity of a new product, service, event, etc.
47. What is the pre-approach to selling?
Learning about the products and the potential customers is the basis of the preapproach.
Highlights the features and benefits.
48. What are the basic elements you can expect to find in a marketing plan?
Executive summary, situation analysis, objectives and evaluation and control.
49. What is the objective of a marketing plan?
Be simple, be single-minded, be specific, be reasonable, be measurable, contain a time-frame.
50. T/F A team marketing representative creates promotional activities, conducts marketing
research, and writes marketing materials.
True
51. T/F the media companies influence how the public is entertained.
True
52. What is cross-selling?
The method of selling the customer additional related products tied to one name. Example:
Disney movie, characters, hats, clothing, etc.
53. T/F The Walt Disney Company is diversified.
True
54. What are referred to as indies?
Independent movie companies
55. T/F Theatrical distribution is the primary market for film.
True
56. What are royalties?
Name ________________________ Date __________ Class Period _________________
Ms. Radosin
A payment for material that been copy-righted, or legally declared as belonging to the creator. A
TV shows that are old that are still seen on minor TV station pay a royalty fee to the creator.
57. What is the function of public relations in a firm?
A marketing group that addresses the public and answers questions and concerns. It also
introduces new products or services and puts the company itself in good standing with the public.
58. T/F Book signings held at bookstores is an example of personal selling.
True
59. Provide examples of non-media advertising.
Direct mail in your mailbox, banner ads on the Internet, flyers handed out at events, menus stuck
on the windshield of your car are examples.
60. What is the difference between cross-selling and a tie-in?
Cross-selling is the method of selling the customer addition related products tied to one name
while a tie-in is often promotions associated with more than one company. Example: Happy
Meals include a character tied to a Disney film.
61. What must you consider when trying to reach a diverse market?
Ethnic characteristics, cultural characteristics, and geographical characteristics, remember—we
are living in a global world.