Chapter 6 Sports Marketing

What concerts are most economical to produce?

Indoor

What has lead to decreased competition?

Industry consolidation

Marketing Intelligence

Information gathered about competitors

Marketing Information

Information that is gathered, analyzed, interpreted and used to make business decisions

What is it when you explain the info so that it has meaning, and draw conclusions that relate to defined marketing research problems?

Interpretation

AEG

Key player in movie exhibition

Product/Service Management

Knowing this of your competitors can help a business determine how to differentiate it's products

Who are necessary to the longevity of a team?

Fans

Winning the game means:

Gaining market share over competitors and making a profit

Pricing

very important to customers, can influence buying decision

Product Portfolio

All the products a company has available at any one time

Mass Market

A broad group of customers

Marketing Plan

A document that describes the tactics and strategies that will be used to market the product or service

What should be built around the mission statement?

All tactics and strategies

Applied Research

Conducted to solve a specific problem

Who's feedback is critical for fine tuning marketing plans and can provide competitive information?

Customers

What should a tactic do?

Describe product or service differentation, pinpoint a gap that is not to be filled by another product or service

Financing

Disclosure of all expected costs and revenues, might indicate need for additional funding

What does efficient searching lead to?

Effective results company name, keywords

What is the basis for the development of the product or service?

Identified need

Mission Statement

Identifies the nature of the business and the reason it exists

Trade Shows

Major events where people in a related industry meet to show their products, exchange ideas, and learn about the latest trends, they are a valuable source of competitive information

Distribution

Making the product purchase convenient for customers

What is critical to help anticipate future moves of the competition?

Marketing Information

What two things should always be in agreement?

Marketing Plan and Mission Statement

What can by combining the insights of a variety of salespeople to provide valuable competitive info?

Observations

Who develops the most effective tactics?

Salespeople

What defines mileposts for progress checks of the plan?

Review and Evaluation

What defines how direct sales will be handled?

Selling

Why would you start with the completion date on a timeline?

So you can specify even sequencing

What describes a marketing mix?

Strategy

Raw Data

The facts and recorded measures that have been gathered

Strategies

The process by which tactics are implemented

Tactic

The way a product or service s differentiated in the minds of customers from other competing products or services

Assignment of Responsibility

This specifies who is responsible for each component of a plan

Where should a price be set?

Where revenues will be maximized to cover all costs and provide a profit

Test Marketing

Where the sales potential for a new product is tried in a small market prior to its final release

What is the job of the distribution system?

it describes how the product or service will be made available to customers

What are touchpoints?

points at which the business makes contact with the customers; like web site visits, e-mails, phone calls, advertisements, and one-on-one sales pitches

Promotional competitive analysis reveals what?

the product characteristics emphasized by competitors, target customers, and promotional budgets

How will the product be positioned i the minds of a customer?

through advertising, publicity, sales promotion, and personal selling