unit 9 serm quiz review

meat in the seats

Sales from tickets and club seats can account for more than half of a typical franchise's local revenue in all four major sports leagues, ranging as high as 80 percent for some teams. the industry, the ticket sales process is sometimes referred to as _____________

explain the concept of "database marketing" as it relates to ticket sales"

-Database marketing is the process of gathering information about existing and prospective customers, entering that information into a centralized database, and using that database to drive marketing efforts -Database marketing has enjoyed continued growth as the new trend in direct marketing among many sports and entertainment organizations -It enables marketers to capture information directly relating to their fan bases and allows for a more effective direct marketing campaign

identify four of the five factors that determine whether or not an individual attends a game or not

-highly visible athletes -fan loyalty + fan support -team performance -promotion and sales

personal seat license

A _________________ (most often referred to as a PSL), gives the holder the right to buy season tickets for a specific seat within a stadium or venue. Teams and venues typically offer PSLs as a means for generating additional revenue to help offset the debt incurred during the construction of the stadium or arena

life blood

A fan's participation in a game or event can be as important as the athletes and performers as they create an exciting atmosphere that energizes the performers and enhances the consumer experience. According to an article published in the Sports Business Journal, "ticket sales are the ______________ of most franchises."

capture

Database marketing enables marketers to ___________ information directly relating to their fan bases and allows for a more effective direct marketing campaign

given a ticket category *(single game)*, describe an idea for how you would implement the strategy (how would you sell these types tickets)?

I would offer a deal where if you buy a ticket online between a certain 5 hour period, you get a dramatic discount of 25% off.

given a ticket category *(group tickets)*, describe an idea for how you would implement the strategy (how would you sell these types tickets)?

I would offer a larger discount to larger groups. I would also offer to put the group name on the jumbotron if there are at least 15 members in the group

given a ticket category *(season tickets)*, describe an idea for how you would implement the strategy (how would you sell these types tickets)?

I would offer season ticket holders additional benefits as incentives to continue buying season tickets. These benefits would include incentives like 20% off concessions, names on seats, or better seating.

financial

Important because research indicates the long term ____________ implications of an organization are impacted most by existing customers, not by attracting new consumers. On average, U.S. companies lose 50% of their customers in five years

given a ticket category *(ticket package/mini plan)*, describe an idea for how you would implement the strategy (how would you sell these types tickets)?

In addition to a certain amount of games, I would also offer consumers free magazine subscriptions as well as free parking.

behavior

It is important to understand the ___________ of ticket buyers 1. How do fans feel about the ease of buying tickets? 2. What motivates fans to buy tickets? 3. What factors impact a fan's decision to attend a particular game?

employ

Most organizations _________ a full -time staff to manage promotions and sales

packages

Most sports and entertainment organizations offer special ticket promotions and customized "___________"

distribution

Technology has streamlined the ___________ of tickets. The world wide web provides many access points for fans wanting to purchase tickets online including TicketMaster, Fandango.com, online ticket brokers, and individual team, league or event websites.

commitment

The basic concept of the escalator is that sports and entertainment marketers focus not on getting new fans to games, but rather encourage those fans already attending to attend with more frequency with an increased level of _____________.

amenities

The new $1.3 billion Yankee Stadium has an in-house museum, party suites, a members-only restaurant and many other luxury _____________. "We tried to reflect a five-star hotel and put a ballfield in the middle," said Yankees COO Lonn Trost

data

The use of barcodes and scanning allows teams to collect market research _______ on their customers. For example, how many games do they attend? What day of the week they attend? Even how early they get to the park so the team can know who would be interested in pregame events.

theme night promotions

________________ are a specific ticket package designed exclusively for a particular group. The goal of this is to attract large groups to attend a game or event by customizing the experience to meet the needs of the selected group/organization. An examples would be the NBA's Charlotte Bobcats host a Teacher Appreciation night offering special promotional discounts on tickets for teachers

frequency escalator:

a marketing tool that examines the attendance levels of fans

ticket package:

a sales approach that involves grouping together a select number of games, often times at a discounted price

T/F: Group tickets do not require a minimum number of tickets purchased to qualify for discounted ticket prices.

false

T/F: Sponsorships increase in value with a decrease in ticket sales.

false

T/F: Statistics have shown that consumers are more likely to support athletes and entertainers who have developed a "bad boy" reputation and public persona.

false

T/F: Technological advances within the industry have hindered the ticketing distribution process.

false

T/F: The NBA's Charlotte Bobcats "Teacher Appreciation Night" promotion, which offers special promotional discounts on tickets for teachers, is an example of a season ticket promotion.

false

T/F: The frequency escalator concept refers on a strategic focus on getting new fans to games.

false

T/F: The unaware consumer knows a product or service exists but chooses not to attend games or events.

false

T/F: There is no correlation between a sports franchise's stadium or facility and ticket sales.

false

premium seats:

game or event tickets that feature additional benefits or values, such as in-seat service, additional seat comfort, or VIP parking

T/F: By segmenting fans based on their buying habits and demographic information, an organization can effectively increase renewal and retention rates.

true

T/F: On average, U.S. companies lose 50% of their customers in five years.

true

T/F: Premium seats could include anything from suites, courtside seats, or seats elsewhere that receive additional benefits.

true

T/F: Technology has created new, easily accessible outlets for the sale of sports or event tickets by unauthorized third parties.

true

T/F: The frequency of special promotions and size of sales staffs are dependent upon a team's available ticket inventory.

true

T/F: Ticket sales affect all other functions of the sports and entertainment business

true

T/F: Ticket sales provide the financial backbone for any organization within the sportsindustry.

true