Sports Law
Prevents monopolies and promotes competition
Sherman Antitrust Act
All the ways in which people differ
Diversity
Individuals actively involved in the event.
Participants
Customers who have the same needs that are in the same specific market
Target Market
process of assessing a specific market within an industry to understand its dynamics, trends, and competitive landscape.
Market Analysis
What does SWOT stand for
Strengths, Weaknesses, Opportunities, Threats
Federal law that provides trademark protection
Lanham Act
The willingness to adjust your opinions and behaviors so that you value people and ideas from other cultures
Cultural Sensitivity
Type of insurance designed to provide financial and medical benefits to employees who are injured
Worker's Compensation Insurance
Gender, heritage, religion, socioeconomic status, life stage
Demographic segmentation
Involves creating actionable strategies based on insights gained from market analysis, detailing how to reach and engage the target market.
Market Planning
Advantages, what we do well?, our assets, where do we make our money?
Strengths in SWOT
An economic system that depends on honest, healthy competition between businesses
Capitalism
The belief that your own culture is naturally better than other cultures
Ethnocentrism
Coverage for bodily injury and property damage claims.
General Liability Insurance
regions, states, neighborhoods, cities
Geographic Segmentation
1. Define Target Market 2. Gather Data 3. Analyze Data. 4. Draw Conclusions
Steps in a Market Analysis
What do we lack?, what are our competitors doing that we are not? How can we improve?
Weakness questions in SWOT
A type of insurance that protects organizations or sponsors from loss of income due to contest awards
Prize Indemnity
The willingness to adjust your opinions and behaviors so that you value people and ideas from other cultures
Primary Diversity
Protection for rented or owned equipment and venues.
Property Insurance
Lifestyle, personality, interest, activities
Psychographic Segmentation
CRM Software! (What does CRM stand for?)
Customer Relationship Management
Finding new ways to serve customers, Looking at Economic trends, Looking at thing that competitors missed
Opportunity in SWOT
Reselling tickets for more than their face value
Ticket Scalping
Differences that may change at various points throughout one’s lifetime;
Secondary Diversity
Helps manage risk associated with large gatherings and activities
Risk Management
Rate of use, benefits derived, loyalty response, occasion response.
Behavioral Segmentation
Data Analysis Tool for organizing data (uses cells to organize data)
Excel Spreadsheet Software
What obstacles do we face?, where are we vulnerable?, what trends are harmful to us?
Threat questions in SWOT