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
