The Customer
Target market
What is a specific group of customers that a business wants to reach?
Event Triangle
What is the interaction between the event, the sponsors, and the fans?
Product
What is something a business offers to a customer to satisfy their needs?
Channels of distribution
What is including all of the businesses through which products or services pass on the way to the consumer?
Law of demand
What is when price goes up, demand goes down; when the price goes down, demand goes up?
Emotional purchase
What is a customer spending with little thought during emotional highs or lows?
Logo
What is the graphic representation of a company's name?
Marketing
What is the creation and maintenance of satisfying exchange relationships?
Venue
What is the facility where an event is held?
Law of supply
What is when the price goes up, the supply produced goes up; when the price goes down, the supply produced goes down?
Economic market
What is all of the customers who will purchase a particular product or service?
Booking agent
What is a firm that contracts with the venue on behalf of the performers?
Promotion
What is the ways to make customers aware of products and encourage them to buy?
Mass Media
What is a term used to describe a method of distributing an event to a large volume of people—the masses?
Bait and switch
What is the occurrence when a product advertised at a low price is “out of stock,” so the salesperson tries to sell customers a higher-priced alternative?
Patronage Purchases
What are purchases based on customer loyalty to a particular brand or product?
Sponsorship
What is the occurrence of a business or an individual providing products, services, or financial support for a sports team or event?
Marketing Mix
What is the description of how a business blends the four marketing elements of product, distribution, price, and promotion?
Logistics
What is the process of planning, organizing, and managing the distribution of products and services?
Equilibrium
What is the point at which the supply and demand curves intersect?
Marketing concept
What is keeping the focus on satisfying customer needs; requires maintaining important relationships with customers?
Promotional mix
What is the blending of the promotional elements of advertising, sales promotion, publicity, and personal selling?
Discretionary income
What is the amount of money individuals have available to spend after paying for the necessities of life and other fixed expenses, such as housing and car payments?
Disrupted technologies
What is new technologies that change existing forms of communication channels?
Price discrimination
What is the occurrence when an individual, group, or business is charged a higher price than others purchasing the same product or service?