Term
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Definition
| Sports and Entertainment Marketing |
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Term
| What year/sport was the first admission charged? |
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Definition
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Term
| What is the size of the SEM industry? |
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Definition
$435 billion
One of the largest and fastest growing |
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Term
| What is the top money making section of Sports? |
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Definition
Equipment by manufactures
$77.3 billion |
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Term
| What is the lowest money making section of Sports? |
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Definition
NASACAR revenue
$.63 billion |
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Term
| What does the Big 4 stand for? |
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Definition
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Term
| What is the top money making section of Entertainment? |
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Definition
Film/theatrical/DVD rental/related revenues
$91 billion |
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Term
| What is the lowest money making section of Entertainment? |
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Definition
Theatrical productions
$7 billion |
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Term
| What are some factors that contribute to the growth of SEM? |
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Definition
-Increase in numbers of those participating
-Increase in numbers of those following
-Increase in offerings |
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Term
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Definition
| A term used to refer to a subculture of fans characterized by a feeling of sympathy and camaraderie with others who share a common interest. |
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Term
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Definition
| The creation and maintenance of satisfying exchange relationships. |
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Term
| What is the marketing mix? |
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Definition
| How a business blends the four marketing elements of product, distribution, price, and promotion. |
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Term
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Definition
| What a business offers customers to satisfy needs. |
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Term
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Definition
| The locations and methods used to make products available to customers. |
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Term
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Definition
| The amount that customers pay for products. |
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Term
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Definition
| Ways to make customers aware of products and encourage them to buy. |
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Term
| What is discretionary income? |
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Definition
| The amount of money individuals have available to spend after paying for the necessities of life and other fixed expenses. |
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Term
| What should be the primary focus of marketing? |
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Definition
-customer needs
-develop better products
-operate business profitably |
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Term
| What are the six core standards of marketing? |
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Definition
| Distribution, Marketing-Information Management, Pricing, Product/Service Management, Promotion, Selling |
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Term
| What is Marketing-Information Management? |
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Definition
Gathering and using information about customers to improve business decisions making.
Domino's in Japan |
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Term
| What is Product/Service Management? |
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Definition
| Designing, developing, maintainging, improving, and acquiring products or services for the purpose of meeting customer needs and wants. |
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Term
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Definition
| A companies budget for its own marketing activities and provides customers with assistance in paying for the company's products or services. |
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Term
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Definition
| Common characteristics of a group. |
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Term
| What is sports marketing? |
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Definition
| Using sports to market products. |
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Term
| What is gross impression? |
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Definition
| The number of times per advertisement, game, or show that a products or service is associated with an athlete, team, or entertainer. |
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Term
| What three factors must a marketer consider to use the right marketing mix to meet customer needs while generating a profit? |
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Definition
-new opportunities
-gross impression
-timing |
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Term
| SEM affects other industries. T or F? |
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Definition
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Term
| Three ways that sporting events help boost the local economy and/or national economy. |
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Definition
-increase jobs
-increase sales
-increase services |
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Term
| What is entertainment marketing? |
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Definition
| Influencing how people choose to spend their time and money on entertainment. |
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Term
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Definition
| Whatever people are willing to spend their money and spare time viewing rather than participating in. |
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Term
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Definition
| The number of views the program attracted. |
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Term
| What was the first televised sports spectacular? |
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Definition
| A heavyweight boxing match. |
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Term
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Definition
| Two or more products in the same house competing against each other. |
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Term
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Definition
| The possibility of financial gain or loss or personal ingury |
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Term
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Definition
| Preventing, reducing, or lessening the negative impacts of risk by using the strategies of risk avoidance, risk insurance, risk transfer, and/or risk retention. |
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Term
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Definition
| The business is legally responsible for damages and might have to pay for the medical costs and other losses suffered by an injuried person. |
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Term
| What are the three categories of risk? |
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Definition
-Natural risk
-Human risk
-Economic risk |
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Term
| What does natural risk involve? |
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Definition
| Weather conditions that cannot be avoided. |
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Term
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Definition
| Customer dishonesty, employee theft, and employee incompetence. |
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Term
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Definition
| Changes in the business environment, such as economy. |
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Term
| What is speculative risk? |
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Definition
| Could result in gain or loss. |
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Term
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Definition
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Term
| What is controllable risk? |
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Definition
| If a loss can be prevented or the likelihood of its occurrence reduced. |
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Term
| What is uninsurable risk? |
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Definition
| If there is a chance that a loss could occur, but the dollar amount of the loss cannot be estimated. |
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Term
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Definition
| Adding measures to avoid risk, like security. |
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Term
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Definition
| Pays for predictable losses. |
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Term
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Definition
Transferring risks to other companies or to the customer.
(Firework company, back of fan ticket) |
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Term
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Definition
| Businesses that face uninsurable risks must assume the cost of the risk. |
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Term
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Definition
| A group of organizations involved in producing or handling the same product or type of service. |
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Term
| What is industry standards? |
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Definition
| The guidelines and goals set for different entertainment industries. |
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Term
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Definition
| Generally considered traveling for pleasure, whether the travel is independent or tour-based. |
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Term
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Definition
| The total of new spending resulting from the event or attraction. |
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Term
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Definition
| Determined by the multiplier effect, meaning the portion of the money spent by visitors on local goods and services that is in turn spent locally by employers and employees. |
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Term
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Definition
| Recreational travel or tours planned around a special interest. |
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Term
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Definition
Responsible travel to natural areas that conserves the environment and sustains the well begin of the local people.
aka sustainable tourism |
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Term
| What big is the travel industry? |
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Definition
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Term
| What is product placement? |
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Definition
| Paying producers to put brand-name products into movies and TV shows. |
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Term
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Definition
| A symbol used by a company as part of its identification. |
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Term
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Definition
| Research done on your own. |
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Term
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Definition
| Research done by someone else. |
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