4.01 Elements of SEM Products
What is the difference between a good and a service?
A good is a tangible product and a service is an intangible experience.
What is a Product Brand?
A name, term, symbol, design, or combination of these elements that identifies a product and distinguishes it from competitors’ products.
What is Sponsorship?
A partnership in which a company provides support in exchange for exposure.
What is a Celebrity Endorsement?
Paying well-known people to promote a good or service.
What is Licensing?
Using another company’s trademark to manufacture and sell products
What is one of the categories of SEM Products?
Sporting Event, Athletes, Venues, Non-Sport Events, Sporting Goods, Licensed Merchandise, Sports Media, and Sports Services.
What are characteristics of an effective brand name?
Describes the product benefits/uses, easy to remember, creates appealing images, distinct, available to use, and appropriate.
What is one of the benefits of Sponsorship?
Brand Recognition, B2B Marketing, Exclusivity, and Perks.
What are one of the things that Endorsements pay celebrities to do?
Advertise a product
Wear or use a certain brand
Use their picture
Appear at an event
Give a testimonial
What is the definition of a Licensor?
The organization that owns the trademark.
Sport Marketers cannot control whether their product (the team) is good on the field or not. What are the two things that the Sport Marketer CAN control?
Price and Atmosphere/Venue
When a product does not have a brand, what is it considered?
A generic item.
What is one of the risks of sponsorship?
Sponsorship clutter
Bad behavior
Labor disputes
Losing streaks
Social media hijacking
What are Cross-Promotions?
When one celebrity is promoting more than one product at a time.
What is the definition of a Licensee?
The companies that want to use the trademarks.
What is Separability?
Separability is the ability to separate the goods from its provider.
What is the difference between Brand Preference and Brand Insistence?
Brand Preference is a customer desires a product but would be open to an alternative and Brand Insistence is when they will not accept any alternatives for their desired product.
What is Ambush Marketing?
Occurs when a business tries to associate with an event to gain recognition as a sponsor, even though it is not.
What is a Risk of Endorsements?
Celebrity attracts the wrong kind of attention.
Celebrity’s fame detracts from the product.
Celebrity’s endorsement is too expensive.
Celebrity develops poor image
What is the difference between Guarantees and Royalties?
Guarantees are the upfront fee paid to a Licensor and Royalties are the percentage of sales that a Licensor makes from the Licensee's products.
What is the difference between Rented-Goods Services and Owned-Goods Services?
What is Co-Branding?
The marketing of a product or service under two or more brand names.
What are the types of Sponsorships?
Athlete, Team, and League
What is one of the guidelines from the Federal Trade Commission for Endorsements?
Endorsements must be honest.
Endorsements must not be distorted.
Endorsers must be actual users of the product.
Endorsers must not be called experts unless they actually are.
What is one of the risks for a Licensor?
Loss of control over marketing
Loss of control over reputation