Marketing Fundamentals
This concept states that a business should focus on satisfying customer needs and wants while making a profit
Marketing Concept
This function involves determining the best way to get products or services to customers
Distribution?
This type of impact represents the total amount of new spending resulting directly from an event.
Direct Impact
This is the channel of distribution most widely used to deliver sports and entertainment to mass audiences
Mass Media (tv, radio, internet)
When choosing a spokesperson, companies look for this quality, defined as the ability to do things without being told
Initiative
These are the four elements, also known as the "Marketing Mix," that a business blends together to reach its target market.
Product, Price, Place, Promotion
This function involves gathering and using customer data to improve business decisions
Marketing-Information Management
This is determined by the "multiplier effect," where visitor spending on local goods is re-spent locally by employees and employers.
Indirect Impact
Modern sports marketing roots trace back to the 1860s, when businesses used photographs of teams from this sport to sell products.
Baseball
This trait is the ability to say or do things without offending others
Tact
This is a specific group of consumers an organization selects as the focus of its marketing plan
Target Market
This is the process of establishing and communicating the value of goods and services to customers
Pricing
States like Georgia offer these to movie producers (such as a 30% income tax credit) to leave them with more money for production.
Tax Incentives
This is the only professional sports league in the United States that is fully exempt from anti-trust laws.
Major League Baseball
This is the ability to understand and share the feelings of another person
Empathy
This is the money left over after a person has paid for all their necessities, often spent on sports and entertainment.
Discretionary Income
This function involves designing, developing, and improving products to satisfy customer needs.
Product/Service Management
This major sporting event in 2022 resulted in an estimated economic impact of $3.1 billion for the host nation, Qatar.
FIFA World Cup
Ads for these ancient events were often painted on walls, written on papyrus, or read aloud in public places.
Gladiator Games
While most companies sell a physical product, this brand is cited as an expert in selling an "ideology" or "feeling" (such as athleticism) rather than the product itself.
adidas, Nike, lulu, etc
These businesses use resources to develop products and services and provide them to consumers.
Who are Producers
This function uses advertising and other communications to distribute information about products.
Promotion
In 2015, this host state saw a direct economic impact of $500 million from the Super Bowl
Arizona
This athlete holds the record for the most Olympic medals in history with a total of 28
Michael Phelps
In the context of "The Fan," this specific type of market segmentation involves analyzing a consumer's "vibe," which includes their values, team loyalty, and "Homer" vs. "Fair-weather" status.
Psychographics