Unit 1: Evolution of SEM
What does SEM stand for?
Sports and Entertainment Marketing
the process of developing, promoting, and distributing products to satisfy the needs and wants of consumers
What is marketing?
From these choices: distribution, financing, marketing information management, pricing, product/service management, promotion, selling
"assigning a value to products and services on the basis of supply and demand"What is pricing?
an example of a revenue stream for a professional sports team
What is (any of the following)?
● Broadcast rights ● Ticket sales ● Luxury suite sales ● Premium seating ● Sponsorship ● Concessions and parking ● Merchandise sales
the process of identifying groups of consumers based on their common needs
What is (market) segmentation?
this has allowed for the sports industry to advance through advanced broadcasting experiences, quality of sporting equipment and providing on-demand distribution
What is technology?
many sports products have some sort of _____, meaning that they full experience expires after a short time
What is perishability?
From these choices: distribution, financing, marketing information management, pricing, product/service management, promotion, selling
"gathering and using data about customers to improve business decision making"
What is marketing information management?
the use of commercial products and services within certain media where the brand paid for its product to appear in order to gain more attention for it
What is product placement?
research that was conducted by another source but is still relevant to your own research
What is secondary research?
a subculture of fans characterized by a feeling of sympathy and camaraderie with others who share a common interest
What is fandom?
the money that customers have left over to spend on their wants, which sports and entertainment outlets compete heavily to get
What is discretionary income?
From these choices: distribution, financing, marketing information management, pricing, product/service management, promotion, selling
"determining how best to get products and services to customers"
What is distribution?
Sports tourism, Sporting goods, Sports apparel, Amateur and Olympic sports, High/collegiate/pro athletics, Motor sports, Recreation, and Sports Marketing firms are all examples of this
What is a (sports) industry segment?
people with a defining set of characteristics that set them apart as a group that you expect to buy your product or service
What is the target market?
someone who develops or is the first to use or apply a new method, area of knowledge, or activity for others to follow in the future
What is a pioneer?
products that cannot be held or touched, but still hold a significance for the consumer
What is intangible?
From these choices: distribution, financing, marketing information management, pricing, product/service management, promotion, selling
"communicating information about products and services to customers on an impersonal level"
What is promotion?
fees paid by television, radio or streaming platforms in order to provide live coverage of a game or event
What are broadcast rights?
this type of segmentation describes how consumers feel about and interact with the products or services being sold
What is behavioral?
fans who go to extremes to show their loyalty to their favorite team, athlete, band, actor or other celebrity
What are superfans?
One of three differences between sports and entertainment products
being unscripted, emotional connection, brand loyalty
From these choices: distribution, financing, marketing information management, pricing, product/service management, promotion, selling
"communicating with consumers to assess and fill their needs, as well as anticipating future needs, based off of personal information"
What is selling?
products created from a main product, for instance jerseys and keychains being sold to represent Manchester United
What are ancillary products?
What are the four components of the marketing mix?
What are product, price, place, promotion?