Industry Basics
What is Sports Management?
The business side of sports: planning, organizing, leading, controlling events and teams.
Define Ethics.
Standards of right and wrong that guide behavior.
What is market segmentation?
Dividing consumers into groups based on shared traits.
Give an example of a 'Product' in sports.
Tickets, merchandise, game experience.
NBA Finals tickets sell out quickly. Which P is most important?
Price – balancing demand and affordability.
What is Entertainment Management?
Managing concerts, movies, festivals, shows, etc.
Why is transparency important in management?
It builds trust with fans, sponsors, and workers.
What are the 4 Ps of Marketing?
Product, Price, Place, Promotion.
Give an example of 'Price' strategy in entertainment.
Discounts for students, bundle deals.
A concert launches a TikTok campaign. Which P is used?
Promotion.
Give one example of a career in Sports Management.
Ticket Sales Manager, Event Coordinator, Athletic Director.
What does professionalism look like in this field?
Punctuality, respect, proper attire, clear communication.
Define target market.
The group of customers a business focuses on.
What is 'Place' in the 4 Ps?
How/where the product is distributed (stadium, online).
A high school adds a snack section in the school store. Which P?
Product.
What similarity do sports and entertainment share?
Both rely on fan engagement and experiences.
Give one example of unethical behavior in sports or entertainment.
Ticket scalping, false advertising, cheating scandals.
Which marketing function is about creating awareness?
Promotion
What is 'Promotion'?
Advertising, PR, social media campaigns.
A baseball team offers family bundles. Which P?
Price.
Name one difference between sports and entertainment industries.
Sports outcomes are uncertain; entertainment is scripted.
Why is professionalism important?
It builds trust and credibility with fans and stakeholders.
Why do businesses use promotions?
To attract attention, boost sales, and build loyalty.
Which 'P' is most influenced by fan demographics?
Price and Promotion
Why is it important to analyze both successes and failures?
It teaches managers how to improve future decisions.