Shared Flashcard Set

Details

Sport Marketing Test 2
Sport Marketing test 2
157
Anthropology
Undergraduate 4
06/09/2011

Additional Anthropology Flashcards

 


 

Cards

Term
3 goals of promotion
Definition
1. inform
2. persuade
3. remind target audiences
Term
4 steps in promotional planning process
Definition
1. target market considerations
2. setting the promotional objectives
3. determining the promotional budget
developing the promotional mix
Term
Push strategy
Definition
the channel intermediaries push the sports product through the channel of distribution to the final consumer

ignore the consumer

get as much product as possible into the warehouse
Term
Pull Strategy
Definition
controlled by the ultimate consumer

stimulate demand for sports prodcut

retailers feel forced to stock shelves with the sports product
Term
Promotional Objectives
Definition
Demand
- to affect behavior, message is persuasive

Educational
- to affect knowledge, message is informative

Image
- to affect perception message is informative
Term
Promotion Mix Elements
Definition
advertising
personal selling
sales promo
public relations
sponsorships
Term
Promotion should include the follwing steps
Definition
increase awareness
attract interest
arouse desire
initiate action
Term
Advertising
Definition
a form of one way mass communication about a product, service, or idea. Usually paid for by an identified sponsor
Term
Advertising should do the following
Definition
create awareness
communicate info about benefits and attributes
develop change or enhance an image
associate brand or product with emotions
precipitate behavior
Term
Ad campaign
Definition
a series of related advertisements that communicate a common message to the target audience
Term
Advertising direct objectives
Definition
to elicit behavioral responses from the audience
Term
Advertising Indirect objectives
Definition
increasing awareness, enhancing image, improving attitudes, or educating consumers
Term
The creative brief
Definition
a tool used to guide the creative process toward a solution that will serve the interest of the client and their customers
Term
3 outcomes of creative process
Definition
1. identifying the benefits of the product
2. desgining the advertising appeal (what to say, recounts why the consumer should buy your product)
3. Developing the advertising execution
Term
One sided vs. 2 sided advert. execution formats
Definition
one sided only displays positive, two sides does both
Term
Slice of life
Definition
common athletes or consumer in everyday situation
Term
Scientific execution format
Definition
using research or scientific studies to support their claims
Term
Testimonials execution format
Definition
endorsements
Term
Reach
Definition
the number of people exposed to an advertisement in a given medium
Term
Frequency
Definition
how many times a consumers is exposed to the media vehicle
Term
Media scheduling
Definition
Continuous- steady

Fighting- expenditures are vareid in some months and 0 in another

pulsing- expenditures may vary greatly, but something is always taking place
Term
spot
Definition
commercials shown on local tv stations. time purchased directly from individual stations
Term
syndication
Definition
shows that sold or distributed on a station by station, market by market basis
Term
Print media
Definition
newspapers primary source of product info

high involvement

numerous classifications
Term
arbitrary allocation
Definition
determined by allocating all the money the organization can afford

establish after other costs are considered

promo budget is not major focus
Term
Competitive parity
Definition
budgeting method based on what the competitors are spending
Term
% of sales
Definition
budgeting method based on determining some standard percentage of promo spending and applying this proportion to past or forecasted sales
Term
product mix
Definition
the total assortment of product lines that an organization sells
Term
Sales promotion
Definition
a catach all for communication that does not fit into advertising, personal selling, or publicity

designed to effect conumser attitude or behavior

offers extra value or incentive
Term
Consumer oriented sale promo
Definition
promotions directed at the consumers
Term
trade oriented sales prmo
Definition
designed to motivate distrbutos and retailers to sell a product

2/3 of all dollars spend on this
Term
premiums
Definition
an offer of an item of merchandise service either free or at lower price
Term
3 criteria for effective sampling
Definition
1. pruducts have low unit value
2. products can be broken into smaller sample sizes
3. purchase cycle is short in result of immediate purchase
Term
POP displays
Definition
point of purchase displays

attracting a consumers attention to a particular product (banners, brochures)
Term
Personal selling
Definition
to get retialers to carry products (push) and consumers to purchase (pull)
Term
strategic selling process
Definition
1. buying influence
2. red flags
3. response modes
4. win results
5. the sales funnel
6. ideal customers
Term
buying influence
Definition
what is an individuals buying role
Term
red flags
Definition
things that could threaten a sale (star player not under contract)
Term
Response Modes
Definition
the buyers reaction to the given sales situation (growth, trouble, even keel, overconfident
Term
Win results
Definition
developing long term relationships and repeat business
Term
sales funnel
Definition
organizing clients to be the most effective and efficient
Term
Ideal customers
Definition
every sale is not a good sale, elimate unreal prospects
Term
value
Definition
the quantitative measure of the worht of a product

satisfaction= benefit-cost
Term
Linking price with value
Definition
quality
convenience
aesthetics
cleanliness or comfort
availability
durability
Term
BEP
Definition
fc/(selling price-vc)
Term
Cost + pricing
Definition
cost + desired profit= price
Term
Capitation pricing
Definition
offering a price per head

providing a group discount that in turn creates a bulk revenue stream
Term
Diffenential pricing strategy
Definition
selling the same product or service to different buyers at different prices
Term
New sports product pricing
Definition
setting aproximate price levels for products being introduced in the marketplace for the first time

pentration pricing- low initial price

price skimming- higher price than comp
Term
psychological pricing strategies
Definition
pricing based on the consumers emotion and image rather than ecnomics alone

prestige pricing- artifically high price to set image

odd even pricing- 9.95 vs 10.00
Term
Product mix strategies
Definition
pricing guided by the exploration of profitability of an entire product line

bundle pricing- grouping of individual sport products into a single package (tennis balls)
Term
Cost based pricing
Definition
examining all the costs associated with producing the sporting good before determining the price
Term
Lead time
Definition
the avg. amount of time between ticket purchase and the date of the event typically decreases as the price for the event decreases
Term
distribution system
Definition
called the marketing channel

methods used to deliver from producer to consumer
Term
time utility
Definition
getting the product to the consumer when the consumer wants it
Term
Complex distribution system
Definition
one or more intermediaries involved
Term
Distribution intensity
Definition
the amount of distribution selected for a particular product

intensive- offered in as many places as possible

selective- limited amount

exclusive- one or small # of outlets
Term
Sport activities
Definition
largest segment of industry
direct distribution
Term
sport business services
Definition
the cleaning repairing and maintenance

direct
Term
Sport entertainment
Definition
distribution depends on consumer

end consumers- complex
corporate- direct
Term
Sport Media
Definition
magazines, eb based business, trade mags

either direct on complex
Term
Factors to influence place distribution
Definition
appearence of facility
amentites offered
personnel
consumer opinion
Term
P/R
Definition
the element of the promo mix that identifies, establishes, and maintains mutually beneficial relationships between the sports organizations and the various public on which its success or failure depends
Term
P/R Tools
Definition
news releases, press conferences, participating in community events, producing written materials, publicity
Term
publicity
Definition
the generation of news in broadcast or print media about a sports prodcut

outside the control of the org
Term
The sponsorship exchange relationship
Commercial organization
Definition
seeks: increased awareness, image enhancement, demonstration platform, hospitality opportunities, product trial or sales opportunities
Term
The sponsorship exchange realtionship
Sport Organization
Definition
seeks financial investment, media exposure, in-kind services
Term
Why a sponsor would get involved
Definition
1. sales objectives
2. media benefits
3. entitlement or naming rights
4. public awareness
5. identify with a particular market segment
6. Gain a competitive edge
Term
Keys to reaching success for sponsorship
Definition
1. sport organizations provide the communication to the consumer
2. sport organizations can provide access to ready made consumer segments
3. opportunity to attach an image to a product
Term
3 goals of promotion
Definition
1. inform
2. persuade
3. remind target audiences
Term
4 steps in promotional planning process
Definition
1. target market considerations
2. setting the promotional objectives
3. determining the promotional budget
developing the promotional mix
Term
Push strategy
Definition
the channel intermediaries push the sports product through the channel of distribution to the final consumer

ignore the consumer

get as much product as possible into the warehouse
Term
Pull Strategy
Definition
controlled by the ultimate consumer

stimulate demand for sports prodcut

retailers feel forced to stock shelves with the sports product
Term
Promotional Objectives
Definition
Demand
- to affect behavior, message is persuasive

Educational
- to affect knowledge, message is informative

Image
- to affect perception message is informative
Term
Promotion Mix Elements
Definition
advertising
personal selling
sales promo
public relations
sponsorships
Term
Promotion should include the follwing steps
Definition
increase awareness
attract interest
arouse desire
initiate action
Term
Advertising
Definition
a form of one way mass communication about a product, service, or idea. Usually paid for by an identified sponsor
Term
Advertising should do the following
Definition
create awareness
communicate info about benefits and attributes
develop change or enhance an image
associate brand or product with emotions
precipitate behavior
Term
Ad campaign
Definition
a series of related advertisements that communicate a common message to the target audience
Term
Advertising direct objectives
Definition
to elicit behavioral responses from the audience
Term
Advertising Indirect objectives
Definition
increasing awareness, enhancing image, improving attitudes, or educating consumers
Term
The creative brief
Definition
a tool used to guide the creative process toward a solution that will serve the interest of the client and their customers
Term
3 outcomes of creative process
Definition
1. identifying the benefits of the product
2. desgining the advertising appeal (what to say, recounts why the consumer should buy your product)
3. Developing the advertising execution
Term
One sided vs. 2 sided advert. execution formats
Definition
one sided only displays positive, two sides does both
Term
Slice of life
Definition
common athletes or consumer in everyday situation
Term
Scientific execution format
Definition
using research or scientific studies to support their claims
Term
Testimonials execution format
Definition
endorsements
Term
Reach
Definition
the number of people exposed to an advertisement in a given medium
Term
Frequency
Definition
how many times a consumers is exposed to the media vehicle
Term
Media scheduling
Definition
Continuous- steady

Fighting- expenditures are vareid in some months and 0 in another

pulsing- expenditures may vary greatly, but something is always taking place
Term
spot
Definition
commercials shown on local tv stations. time purchased directly from individual stations
Term
syndication
Definition
shows that sold or distributed on a station by station, market by market basis
Term
Print media
Definition
newspapers primary source of product info

high involvement

numerous classifications
Term
arbitrary allocation
Definition
determined by allocating all the money the organization can afford

establish after other costs are considered

promo budget is not major focus
Term
Competitive parity
Definition
budgeting method based on what the competitors are spending
Term
% of sales
Definition
budgeting method based on determining some standard percentage of promo spending and applying this proportion to past or forecasted sales
Term
product mix
Definition
the total assortment of product lines that an organization sells
Term
Sales promotion
Definition
a catach all for communication that does not fit into advertising, personal selling, or publicity

designed to effect conumser attitude or behavior

offers extra value or incentive
Term
Consumer oriented sale promo
Definition
promotions directed at the consumers
Term
trade oriented sales prmo
Definition
designed to motivate distrbutos and retailers to sell a product

2/3 of all dollars spend on this
Term
premiums
Definition
an offer of an item of merchandise service either free or at lower price
Term
3 criteria for effective sampling
Definition
1. pruducts have low unit value
2. products can be broken into smaller sample sizes
3. purchase cycle is short in result of immediate purchase
Term
POP displays
Definition
point of purchase displays

attracting a consumers attention to a particular product (banners, brochures)
Term
Personal selling
Definition
to get retialers to carry products (push) and consumers to purchase (pull)
Term
strategic selling process
Definition
1. buying influence
2. red flags
3. response modes
4. win results
5. the sales funnel
6. ideal customers
Term
buying influence
Definition
what is an individuals buying role
Term
red flags
Definition
things that could threaten a sale (star player not under contract)
Term
Response Modes
Definition
the buyers reaction to the given sales situation (growth, trouble, even keel, overconfident
Term
Win results
Definition
developing long term relationships and repeat business
Term
sales funnel
Definition
organizing clients to be the most effective and efficient
Term
Ideal customers
Definition
every sale is not a good sale, elimate unreal prospects
Term
value
Definition
the quantitative measure of the worht of a product

satisfaction= benefit-cost
Term
Linking price with value
Definition
quality
convenience
aesthetics
cleanliness or comfort
availability
durability
Term
BEP
Definition
fc/(selling price-vc)
Term
Cost + pricing
Definition
cost + desired profit= price
Term
Capitation pricing
Definition
offering a price per head

providing a group discount that in turn creates a bulk revenue stream
Term
Diffenential pricing strategy
Definition
selling the same product or service to different buyers at different prices
Term
New sports product pricing
Definition
setting aproximate price levels for products being introduced in the marketplace for the first time

pentration pricing- low initial price

price skimming- higher price than comp
Term
psychological pricing strategies
Definition
pricing based on the consumers emotion and image rather than ecnomics alone

prestige pricing- artifically high price to set image

odd even pricing- 9.95 vs 10.00
Term
Product mix strategies
Definition
pricing guided by the exploration of profitability of an entire product line

bundle pricing- grouping of individual sport products into a single package (tennis balls)
Term
Cost based pricing
Definition
examining all the costs associated with producing the sporting good before determining the price
Term
Lead time
Definition
the avg. amount of time between ticket purchase and the date of the event typically decreases as the price for the event decreases
Term
distribution system
Definition
called the marketing channel

methods used to deliver from producer to consumer
Term
time utility
Definition
getting the product to the consumer when the consumer wants it
Term
Complex distribution system
Definition
one or more intermediaries involved
Term
Distribution intensity
Definition
the amount of distribution selected for a particular product

intensive- offered in as many places as possible

selective- limited amount

exclusive- one or small # of outlets
Term
Sport activities
Definition
largest segment of industry
direct distribution
Term
sport business services
Definition
the cleaning repairing and maintenance

direct
Term
Sport entertainment
Definition
distribution depends on consumer

end consumers- complex
corporate- direct
Term
Sport Media
Definition
magazines, eb based business, trade mags

either direct on complex
Term
Factors to influence place distribution
Definition
appearence of facility
amentites offered
personnel
consumer opinion
Term
P/R
Definition
the element of the promo mix that identifies, establishes, and maintains mutually beneficial relationships between the sports organizations and the various public on which its success or failure depends
Term
P/R Tools
Definition
news releases, press conferences, participating in community events, producing written materials, publicity
Term
publicity
Definition
the generation of news in broadcast or print media about a sports prodcut

outside the control of the org
Term
Keys to a successful sponsorship proposal
Definition
1. sponsor benefits
2. contract length and renewal options
3. profile and background of sponsoree
4. opportunities available
5. fee structure
6. purpose of the event
7. how your info will reach the consumer
Term
Strengths of Sponsorship
Definition
1. Image and positioning
2. Integration of sponsorship with promotion strategy to further their objectives.
3. establish an emotional connection with target market
- more intimate involvement than traditional advertising
- reinforce interest and respect
Term
Sponsor ship is not just the means to communicate it is _____
Definition
the message
Term
Sponsorship Platforms
Definition
athletes and coaches
teams
leagues
media
events
facilities
Term
Benefits of the sport sponsorship for sport organizations
Definition
financial
gifts in kind
media benefits
Term
Benefits of sport sponsorships for business and corporation
Definition
awareness and exposure
association/image enhancement
demonstration platform
hospitality opportunities
product trial/sales opportunities
Term
Examples of gifts in kind
Definition
1. product and equipment
- beverages and food
- computers and telecommunications
2. Personnel
3. Marketing
4. Prizes
5. Website exposure
Term
Increased awareness and exposure
Definition
benefit sought from sponsorships by business
- creates awareness for a new product
- increase awareness of existing products
- by pass legal constraints
Term
Image enhancement - association
Definition
Benefits sought by business from sponsorship
- creates a an image for a new product
- reinfroce the image of an existing product
- change public perceptions
- counter negative publicity
- employee benefits
Term
Image Enhancement
Definition
sponsoring companies image is linked with the sport organization or event
- transfer of images
- the brand is the event
- creates an image rather than change an image
2. creates credibility
3. reinforces product image and consumers feelings
Term
Demonstration Platform
Definition
1. gives company's an opportunity to show off to potential customers
2. bigger events are key center for demos of new products
3. "the brand must be excellent otherwise it would not be allowed to sponsor"
Term
Risks associated with sponsorship
Definition
1. Poor presentation of an event
2. Poor performance at an event
3. disreputable behavior at an event
4. Community backlash from over commercialization
5. liability
Term
S.M.A.R.T.
Definition
Specific, Measurable, achievable (realistic), results oriented, time bound
Term
2 Elements of "Fit"
Definition
There should be a good fit between the two parties in sponsorship partnership

1. congruency of image
2. congruency of target markets
Term
Other potential platform elements
Definition
signage
competitions
awards
rewards
internet
retail promotions
personalized service
licensing
Term
Types of Packaging sponsorships
Definition
title sponsorship
Presenting Sponsorship
Official Sponsorship
Official Supplier Status
Term
Title Sponsorship
Definition
-sponsors name is integrated into the event title or team name.
-Highest risk, including additional costs
- usually has right to veto unsuitable co sponsors
Term
Presenting Sponsorship
Definition
25-50% of title sponsor fee.
- Exclusive rights to associate w/ an event within a product category
- high temptation to narrowly define categories
- could cause clutter
Term
Official Sponsorship
Definition
10% of title sponsor fee.
- can only invest in product categories not reserved by presenting sponsors
Term
Official Supplier Status
Definition
Goods or services to the sport organization staging it or to the participants or spectators who are part of it.
Term
Pricing Sponsorship
Definition
- Multiple variations of the four sponsorship categories
- based on hierarchical structure of benefits
- different levels of sponsorship allow different size companies the opportunity to invest
Term
Factors that influence package pricing
Definition
- staff salaries
- production costs
- opportunity costs
- market value
- comparisons made with similar events
- geographic reach of the event
Term
preparation of proposals
Definition
- first paragraphs are the most important
- brief outline of key benefits/features
- address the sponsors needs not the organization
Supporting users have an ad free experience!