Vocab
Marketing Mix
What describes how a business blends the four marketing elements of product, distribution, price, and promotion?
What is the IOC?
International Olympic Committee
What is Marketing?
The creation and maintenance of satisfying exchange relationships
include all of the businesses through which products or services pass on the way to the consumer.
What is the channels of distribution?
What are two current major distribution channels for entertainment?
Social media and streaming services.
Event Triangle
What is it called when the event, sponsors, and the fans interact.
Soccer
The most favored sport.
Streaming media
What is entertainment that is viewed or listened to as soon as it is received?
Logistics
What is the process of planning, organizing, and managing the distribution of products and services?
What are two ways of looking at entertainment marketing?
Entertainment will be looked at as a product to be marketed. Marketing will be examined in light of how it uses entertainment to attract attention to other products.
Equilibrium
What is the point at which the supply and demand curves intersect called?
When is a sport considered Olympic?
When a sport is selected as an Olympic sport, individuals and organizations provide financial support and promote youth leagues because the national image is at stake.
Marketing researchers face the integrity of the research.
What is an marketing researchers major ethical issue?
In terms of professional sports what is the cartel?
A number of independent sports teams grouped together and governed by a league agreement.
Piracy
What is the theft of copyrighted material?
List 5 international professional sports
Baseball, basketball, golf, tennis, auto racing, horseracing, and boxing.
Soft data vs. Hard data
An estimate based on an educated guess against statistics gathered through valid research.
The event originator’s role.
produce and oversee the entire event, manage the career of the talent or athlete, estimate costs and revenue and set pricing, arrange for promotion of the event, hire security, negotiate contracts with channel members, schedule the media, facility, special equipment, and more.
Who are the members of the event triangle and what are their roles?
Fans, sponsor, event. Money, entertainment, and access
Economic Utility
What is the amount of satisfaction a person receives from the consumption of a particular product or service?
Where was the 1971 World Table Tennis Championships held?
Japan
List the marketing research process
(1) Discover and define the problem, (2) Analyze current conditions, (3) Develop the process for data collection, (4) Collect the data, (5) Analyze and report the data, (6) Determine a solution to the problem, (7)
Implement and evaluate the results.
July 1978