2.01 Nature of SEM
What are the 3 types of events?
Corporate, Private, and Public
What is the definition of a Target Market?
A specific group of customers that a company desires to have.
What is Geographic Segmentation?
What is the definition of a Trend?
A general direction in which something is developing or changing.
Who must be present for a sporting event to take place?
Athletes
What is the difference between organized and unorganized participants?
Organized have rules and unorganized do not.
What is the definition of Disposable Income?
The money you have left over after paying taxes.
What is Demographic Segmentation?
Grouping customers by their physical and social characteristics.
Why is it important that we identify Sport/Event trends?
Marketers need to maximize profit and attendance.
When sellers offer one-size-fits-all products that will appeal to most buyers, they are using what?
Mass Marketing
How is sport as a product unique?
It is unique because every person will have a different experience.
When the total market is divided, one of its groups is called a?
Market Segment
What is Behavioral Segmentation?
Grouping customers based on their response to a product.
What is one of the current SEM Trends from our notes?
OTT Content, AI, Virtual Reality, Wearables, eSports, Entertainment Centers, and Premium Seating.
What has the growth of the sports industry created?
Job Opportunities
What is one of the benefits from developing event marketing?
Starts a Dialogue, Builds a connection, Immediate Fulfillment, Brand Awareness.
What are 2 of the Four types of Venues?
Sport Stadiums, Health Clubs, Recreation, and Camps.
What is Psychographic Segmentation?
Grouping customers based off of their lifestyles and personalities.
What are two of the sources for SEM Trend information?
The internet and trade publications.
Thomas loves going to NC State games because he is a loyal fan. What type of motive is this?
Patronage Motive.
What are the four types of sport products?
Events, Training, Goods, and Information
What are the differences between Mass Marketing and Target Marketing?
Mass Marketing is not specific and cheaper while Target Marketing is more specialized, more time consuming, and more expensive.
Jake is a suburban teenager who loves to skateboard. What Segments would he be a part of?
Geographic, Demographic, and Psychographic.
What are the three ways that you can improve your Trend Awareness Skills?
Look at yourself, look at your competitors, and attend conferences.
What is fiscal impact from Sport Events?
Government Tax Revenue