Sport Management Exam 2

What four major categories can sport management, marketing agencies and sport industry groups that perform similar functions be classified as?

1. Full-Service Agencies 2. General Agencies 3. Specialty Agencies 4.In-house groups

What is a sport management and marketing agency?

A business that acts on behalf of a sport-related stakeholder, which is commonly referred to as a client

In house group

A collection of employees who work directly for a property or brand to provide services similar to those commonly performed by outside agencies

diversion

A distraction from a course or activity

Venue

A facility or site where a special event or sport activity takes place

aspirational reference group

A group to which a person wishes to belong

SWOT analysis

A management technique available to sport marketers to help them assess the internal strengths and weaknesses of an organization and the external opportunities and threats that it faces

sport public relations

A managerial communication based function that identifies key organizational publics and develops desirable relationships with those publics

target market

A market segment identified as the focus of an organization's marketing efforts

ROI analysis

A method by which the output or outcome of an investment is calculated in light of the dollars or resources spent on that investment to determine the investments relative success

stakeholder

A person or group with a specific interest or stake in something within the sport industry

market segment

A portion of the population that is distinctive in terms of its needs, characteristics, or behavior

sport communication

A process by which people in sport, in a sport setting or through a sport endeavor, share symbols as they create meaning through interaction

turnkey program

A product or service offering that a vendor executes without further involvement from the purchase(client)

Client

A sport-related person, brand, property, media company, or concept represented by a sport agency

strategic planning

A systematic process of envisioning a desired future and translating that vision into broadly defined goals or objectives and a sequence of steps to achieve them

Product

A tangible good(object), a service, or an intangible quality that satisfies consumers' wants or needs

What are the most common functions of sport management and marketing agencies?

A. Strategic Planning B. Sponsorship and licensing solicitation C. Event creation, management, and marketing D. Contract negotiation E. Marketing activation F. Content development G. Financial or investment planning H. Research and evaluation

Which functions involves tournament operations, hospitality and entertainment, fan engagement, sponsorship and ticket sales, and public relations?

All functions except sponsorship and licensing solicitation and financial or investment planning

service quality

An indication of how well a delivered service conforms to the customer's expectations in terms of what the customer is receiving and how the service is delivered through the interaction between the customer and the service provider

entitlement

Associating the name of a sponsor with the name of an event, facility, or similarly unique offering in exchange for cash or other considerations (e.g. Chick fil A)

sport print communication

Communication through printed publications such as sports sections in newspapers, sports magazines, and sport books

marketing plans

Comprehensive strategic and tactical frameworks for identifying and achieving a sport organizations marketing goals and objectives

Definition of In-house groups?

Consist of departments of existing companies that perform many agency-like sport marketing functions on behalf of the products or divisions of the parent company

user-generated branding

Consumer(e.g. fan, customer) created content (e.g. photo, video, written review) related to a product or service used

consumer demand

Consumers' expectations about the attributes of a core product

Strategic Sport Communication Model (SSCM)

Depicts the dynamics of communication and the various settings in which communication occurs in sport

Targeting

Evaluate and select target se

internal factors

Factors inside a sport organization that affect sport marketing(e.g. players, owners, team management, staff personnel)

external factors

Factors outside of a sport organization that affect the sport marketing climate(e.g. media, corporate sponsors, advertisers, spectators, geography, culture, economy, federal regulations, regulations of sport governing bodies)

cognitive dissonance

Feelings of anxiety or doubt that can occur after an important decision has been made

community relations

Focuses on the promotion of charitable initiatives affiliated with the sport organization and the development of opportunities to directly engage with diverse stakeholders

What types of agencies are IMG, Octagon and Wassermin?

Full-service agencies

gatekeepers

Individuals or groups responsible for controlling the flow of proposals or solicitations to the decision maker

External elements affecting market climate

Media, corporate sponsors, advertisers, spectators, geography, culture, economy, federal regulations, regulations of sport governing bodies

Packaging

Packaging a tangible sport product, core product, product extensions; Licenses merchandise and sport sponsorship

Internal elements affecting market climate

Players, owners, team management, staff personnel

eustress

Positive levels of arousal provided to sport spectators

Which element of the marketing mix is the most visible and flexible

Price

grassroots programs

Programs targeted to people at a primary involvement level, usually participants rather than spectators

Definition of a Full Service Agencies?

Provide a full range of services performed by in-house personnel across multiple stakeholder groups

Definition of General Agencies?

Provide a variety of services to clients but are not involved in all potential agency functions or with all stakeholder groups

Extrinsic rewards

Rewards given to a person by someone else

Intrinsic rewards

Rewards received by a person from the experience itself

intrinsic rewards

Rewards received by a person from the experience itself

Definition of Specialty Agencies?

Specialize in providing particular types of services or serving a particular stakeholder group

sport ephemeral social media

Sport-specific use of web based applications in which the content(e.g. information, opinions, and experience) is automatically deleted after a designated amount of time

sport social media

Sport-specific use of web-based applications to share information, opinions and experiences

What are the four key stakeholder groups?

Talent, properties, corporate brands and media companies

sport sponsorship

The acquisition of rights to affiliate or associate with a sport product or sporting event to derive benefits from the affiliation or association

inventory

The assets that a sport property has to sell

promotions mix

The collection of integrated activities that seek to communicate, inform, and ultimately persuade consumers to participate in the sport consumption activity, experience, or event

place

The comprehensive way sport is distributed to consumers

sport marketing

The creation and execution of marketing mix strategies(production, pricing, promotion, and distribution) for products and services in the sport business industry to satisfy consumer wants and needs and achieve organizational objectives

Place

The distribution channels that allow consumers to access or obtain the product

marketing mix

The elements of product, price, place, and promotion; sport marketers alter, modify, customize, or manipulate these to achieve marketing goals and objectives

situational influence

The influence arising from factors that are particular to a specific time and place and are independent of individual customers' characteristics

Promotion

The integrated communication and public relations activities that communicate, inform, persuade, and motivate consumers to purchase the product

product life cycle

The life span stages of a sport product: introduction, growth, maturity, and decline

need recognition

The perception of a difference between a desired state and the actual situation; the first stage of the decision-making process

over the top(OTT) delivery

The process by which a broadcast network, such as Fox Sports Go or HBO Now, delivers its content directly to a consumer through an internet app. This delivery can eliminate the need for the consumer to subscribe to a cable or satellite provider

marketing segmentation

The process of identifying smaller and viable clusters of sport consumers who may exhibit similar wants, needs, and interests regarding sport

Segmentation

The process of identifying smaller and viable clusters of sport similar wants, needs, and interests regarding sport

Branding

The process of using a name, design, symbol, or any combination of the three to help differentiate a sport product from the competition

branding

The process of using a name, design, symbol, or any combination of the three to help differentiate a sport product from the competition

marketing research

The systematic process of obtaining, analyzing, and interpreting data or information to evaluate and improve marketing practices

Price

The value of the product and the costs that the consumer must accept to obtain the product

effects

Varied results of communication regarding its effect on audience members and society in general

ambush marketing

When a company who has not paid a rights fee to become an official sponsor attempts to unofficially create an association with a sport property

Participant

a person who takes part in something.

What represents a behavioral component of attitude?

a persons experience

Achievement

a thing done successfully, typically by effort, courage, or skill

What describes fans seeking to enhance their self-esteem by associating with a successful team or player?

basking in reflective glory

A consumer's attitudes, interests and lifestyles are referred to as?

psychographics

extrinsic rewards

rewards given to a person by someone else

When developing a pricing strategy, what should the sport organization analyze about the company

the costs involved in producing the product

Spectator motivation

the degree to which a sport meets a particular need or motive depends on each consumers perceptions and experiences.

Which communication theory states that audience members self-select which mass media messages to embrace based on their psychological dispositions and needs?

uses and gratification