Marketing Basics
What is Promotion?
What is the ways to make customers aware of products and encourage them to buy
Define Scarcity
What is the occurrence when there is a limited amount of resources needed to produce and distribute goods and services
Who is the International Olympic Committee (IOC)?
Who is the governing authority of the Olympic Movement.
Define Channels of Distribution
What is all of the businesses through which products or services pass on the way to the consumer.
Interaction of the event, the sponsors, and the fans
What is the Event Triangle
The primary focus of marketing
What is customer needs
Businesses make decisions about continuing events with
what is continued profit in sales of tickets and attraction to viewers and fans.
The selection of the host Olympic country is done by this organization.
Who is The International Olympic Committee (IOC)
The two channels of distribution used for sports and entertainment events
What is live events and via media
At major event production companies, the person responsible for the event is known as
who is the executive event producer
The four marketing elements
What is product, distribution, price, and promotion
Economics are the study of these three things.
What is how goods and services are produced, distributed, and consumed
Is broadcasted internationally in the summer or winter months every 4 years
what is the Olympics
The Romans used this oval shaped theater to put on live events.
What is a Amphitheater
The role of fans in the event triangle
what is Fans paying money for tickets to the event and receiving entertainment from the event in return.
Promotion plays a large role in this College Basketball Tournament
What is March Madness
Form Utility
What is improving the physical characteristics of a product or service.
Define joint venture
what is an agreement between two or more companies to work together on a business project.
Radio, television, and the Internet are this type of distributing media
what is mass media
Today’s fastest-growing media distribution channel is called
what is over the top (OTT) streaming, which is delivery of content via the Internet, Wi-Fi, or cellular service.
The seven core standards associated with marketing
What is channel management, pricing, marketing-information management, product/service management, promotion, selling, and market planning.
The four types of economic utility.
What is form utility, time utility, place utility, and possession utility.
Where piracy of a film is most common in the world
What is China
Define disruptive technologies
What is new technologies that change existing forms of communication channels
Define Booking Agent
who is a firm that contracts with the venue on behalf of the performers