Marketing Basics
What is marketing?
The process of promoting and selling products or services
Name the three parts of the Event Triangle.
Event, Sponsor, Fans.
What is a brand?
A name, logo, or design that represents a business or product.
What does “sold out” mean?
All tickets for an event have been purchased.
What is the biggest sporting event in the U.S. each year?
The Super Bowl.
Name one of the 4 Ps of marketing.
Product, Price, Place, Promotion.
What is the role of the sponsor in the Event Triangle?
To provide financial support and receive advertising in return.
What is brand loyalty?
When customers consistently choose the same brand over competitors.
What is dynamic pricing in ticket sales?
Prices change based on demand, like airline tickets.
What city hosts the most Broadway shows?
New York City.
What is the target market?
A specific group of people a business aims to sell to.
How do fans benefit from sponsors?
Fans get better events, promotions, and giveaways through sponsorships
Why do businesses sponsor sports teams or concerts?
To increase brand awareness and connect with their target audience.
Name one way teams or concerts promote ticket sales.
Discounts, giveaways, exclusive presales, bundle deals, etc.
What company owns Disneyland and ESPN?
The Walt Disney Company.
What is a marketing strategy?
A business’s overall plan to reach customers and increase sales.
Give an example of an event that has sponsors.
Super Bowl, NBA Finals, Coachella, Olympics, etc.
What is product placement?
When a brand’s product appears in a movie, TV show, or event as advertising.
What is a season ticket?
A ticket package that gives fans access to all home games/events in a season.
What major sporting event takes place every four years?
The Olympics or FIFA World Cup.
What is the difference between advertising and public relations?
Advertising is paid promotion, while PR focuses on maintaining a positive image through media and communication.
How do sponsors decide which events to support?
They consider the event’s audience and whether it aligns with their brand.
What is an endorsement, and why is it important?
When a celebrity or athlete promotes a product, increasing credibility and sales.
What is scalping, and is it legal?
Reselling tickets for profit, often illegally depending on the location.
What is the highest-grossing movie of all time?
As of now, Avatar (2009) or Avengers: Endgame (2019).