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Details Title: Sports Marketing Description: Marketing from the sports administration frame. Framework for the distinct and complex nature of sports marketing, and strategic marketing process. Total Flash Cards: 52 Created: 10/07/2007 20:11:50	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Marketing Myopia Definition Defining marketing in terms of goods and services instead of benefit to consumer. Term Marketing Concept Definition Meet consumer needs while achieving organization's goals and objectives. Term Marketing Orientation 3 Steps Definition 1. Intelligence Generation 2. Intelligence Dissemination 3. Responsiveness Term Types of Sports Consumers Definition 1. Spectator as consumer 2. Participant as consumer 3. Sponsor as consumer Term The Sports Product Definition A good, service, or combination of the two designed to benefit the consumer. Term Types of Sports Products Definition 1. Event 2. Athlete 3. Arena 4. Sporting Goods 5. Training Term Purpose of Contingency Approaches Definition - unpredictable and rapidly changing environments - situational - internal vs external coincerns - attempt to predict and strategically align process with contingencies Term Strategic Marketing Planning Phase Definition 1. Understanding Customer's Needs 2. Market Selection 3. Marketing Mix Term Market Selection Decisions Definition 1. Segmentation 2. Targeting 3. Positioning Term Market Segmentation Definition Grouping consumers by commonalities - homogeneous groups - demographics, psychographics, geographics Term Market Targeting Definition Choosing segments based on efficiency and effectiveness to attain objectives - S.M.A.R.T. Term Positioning Definition Fixing product in the minds of consumers Term Four P's Definition Product Price Promotion Place Term Implementation Phase Definition 1. Organizing 2. Leadership & Interaction 3. Resource Acquisition & Allocation 4. Coordination & Timing 5. Information Management Term Control Phase Definition 1. Sales Analysis 2. Profitability Analysis 3. Customer Satisfaction 4. Marketing Audit Term Sales Analysis Definition - compare current and past sales - unit volume, dollar volume, net profit - relative to competitors or market share Term Profitability Analyis Definition Profit = Revenue - Cost Term Customer Satisfaction Definition - Critical, difficult to qualify - multiple measurements needed Term Marketing Audit Definition Appraisal of marketing objectives - more holistic view - logical process, unbiased, third party - reviews market orientation, marketing objectives, planning process, target markets, p's Term Nature of Competition Direct Competition Definition Similar products and services Term Nature of Competition Indirect Competition Definition Substitute products and services Term External Contingencies Definition 1. Competition 2. Technology 3. Cultural and Social Trends 4. Physical Environment 5. Political, Legal, & Regulatory Env 6. Demographics/Population Trends 7. The Economy Term Internal Contingencies Definition 1. Vision & Mission 2. Organizational Objectives & Marketing Goals 3. Organizational Strategies 4. Organizational Culture Term Organizational Strategies Definition 1. Corporate Level: related diversification (business units), unrelated diversification, capitalize on similar markets 2. Business Level: single business, differentiation, market niches (low cost and differntiation) 3. Function Level: business areasbr> 4. Operational Level Term S.W.O.T. Analysis Definition Strengths Weaknesses Opportunities Threats Internal (Controllable) / External (Uncontrollable) Term Marketing Research Process Definition 1. Define Problem 2. Research Design Type 3. Identify Collection Techniques Term Data Collection Techniques Definition 1. Primary: specific collection for research question at hand - Ex. depth interviews, focus groups, surveys, experiments 2. Secondary: collected earlier - Ex. government, standardized, trade and industry Term Consumer Decision-Making Process Definition 1. Problem Recognition: desired vs. actual state 2. Information Search: internal & external sources, perceived risk 3. Evaluation of Alternatives: evoked set, evaluative criteria 4. Participation/Purchase 5. Post-Decision Evaluation: cognitive dissonance (doubts, regret) Term Types of Consumer Decisions Definition 1. Habitual Problem Solving: limited evaluation 2. Limited Problem Solving: few alternatives 3. Extensive Problem Solving: heavy search, many alternatives Term Psychological/Internal Factors Definition 1. Personality: traits, consistent responses 2. Motivation: hierarchy of needs 3. Perception: based on past experiences; selecting, organizing, and interpreting 4. Learning: permanent change; behavioral, cognitive (solve problems), social (watch others) 5. Attitudes: learned thoughts, feelings, & behaviors Term Sociological/External Factors Definition 1. Culture: learned values & beliefs 2. Social Class: homogeneous divisions, similar values & beliefs 3. Reference Groups: influencing individuals 4. Family: traditions Term Situational Factors Definition 1. Physical Surroundings: location, weather 2. Social Surroundings: company, surroundings 3. Time: time pressures, effectiveness 4. Reason/Task Definition: occasion 5. Antecedent States: temporary psychological, prior Term Fan Motivation Factors Definition 1. Self Esteem - BIRG: Basking in Reflected Glory - CORF: Cutting off Reflected Failure 2. Diversion 3. Entertainment: eustress, economic value, aesthetic value, affiliation, family ties Term Bases for Segmentation Definition 1. Demographics 2. Socioeconomic 3. Psychographic 4. Geographic 5. Behavioral Term Target Markets Evaluation Definition Sizable Measurable Reachable Demonstrate Behavior Variation Term Positioning/Repositioning Definition - define product in mind of consumer - product can be positioned differently in different markets - based on perceptions (perceptual maps) - repositioning: to change image Term Goods and Services as Products Definition 1. Tangibility 2. Standardization & Consistency 3. Perishability 4. Separability Term Classifying Sports Products Definition 1. Product Line 2. Product Mix Term Product Characteristics Branding Definition 1. Brand awareness 2. Brand equity 3. Brand loyalty Term Product Characteristics Definition 1. Branding 2. Licensing 3. Quality 4. Product Design Term Dimensions of Service Quality Definition 1. Reliability: dependability 2. Assurance: knowledge, courtesy 3. Empathy: caring, attention 4. Responsiveness: willingness to help 5. Tangibles: appearance, facilities Term Consumer Decision-Making Process Layout Definition Internal & External --> Self Concept/Lifestyle --> Needs Desires --> Decision Term Consumer Involvement & Attitude Definition - Behavioral (doing) - Cognitive (knowing) - Affective (feeling) Term Self-Concept (Lifestyle) Definition - Actual self - Ideal self - Private self - Reference group self * Lifestyle is a manifestation of self-concept Term 4 C's of Marketing Research Definition Consumer Company Competition Climate Term Sports Marketing Major Thrusts Definition 1. Marketing to Consumer 2. Marketing to Sponsors Term Marketing Management Process Definition 1. Analysis/Audit: SWOT 2. Objectives: SMART 3. Strategies: STP 4. Implementation: Organization, Leadership, Resources, Coordination, Info Management 5. Control: Measures Term Sports Product Bundle Definition Core Product: game, players, coaches Ancillaries/Extensions: merchandise, concessions, facilities, atmosphere, sineage, music Term Differntiation Definition The process of distinguishing the differences of a product or offering from others, to make it more attractive to a particular target market. Term Product & Brand Cycles Definition 1. Introduction 2. Growth 3. Maturity 4. Decline Term Adopters Definition 1. Innovators: most risk, younger, higher income 2. Early Adopters: high income, influential, high communication 3. Early Majority: average social, deliberate spending 4. Late Majority: late in maturity, skeptics 5. Laggards: past oriented, traditional, price Term Marketing Exchange Process Definition - the exchange of entertainment through sports for a fee - sharing of value between two parties - exchanges that satisfy consumer needs and meet the marketer’s objectives