Sports Marketing Final

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Terms in this set (...)

3 Steps in Marketing Process?
Develop
Promote
Distribute
Difference between market and target market
Market is a large group of people who share the same needs, target market is a specific demographic, geographic, and psychographic
Characteristics of Mass Marketing
Aiming for the masses, no specific strategy, proven very ineffective
Characteristics of Market Identification
Research your product
Find target market
Understand the needs and wants of your target market
Utilize your marketing budget to appeal/satisfy these wants or needs
What considerations go into establish the "price" for a new product?
Influences customers buying decisions
Cost of marketing/buying
Marketing expenses & competition
What consumer is willing to pay
4 Types of Promotion
Advertising
Sales Promotion
Publicity
Personal Selling
Advertising
Commercial on TV
Sales Promotion
"Buy One Get One Free"
Publicity
Getting a famous popular sponsor to endorse the product
Personal Selling
Door to door promoting/selling the product
Sports Entity
Athlete
Team
League
Event
5 Platforms of a Sports Event Pyramid
Local
Regional
National
International
Global
Examples of 5 Platforms
Liberty Baseball-Local
Sporting KC-Regional
Daytona 500-National
World Cup-International
Olympics-Global
2 Arrows that Stretch the Pyramid
Personal Connections-Going up the pyramid
Amount of People-Going across the bottom
5 P's
People
Price
Product
Promotion
Place
Which of the 5 P's must you know FIRST before establishing a marketing plan?
People
Characteristics of Target Market
Age
Income level
Interests
What they do in free time
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