Intro to Sport Management Midterm Study Guide
Intro to Sport Management Midterm Study Guide SPTE 201 001
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This 0 page Study Guide was uploaded by Holly Ciampaglio on Sunday November 15, 2015. The Study Guide belongs to SPTE 201 001 at University of South Carolina taught by in Summer 2015. Since its upload, it has received 82 views. For similar materials see Introduction to Sport and Entertainment Management in Physical Education at University of South Carolina.
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Date Created: 11/15/15
Intro to Sport Management Midterm 3 Study Guide Chapter 9 Key Terms Fan ldenti cation personal commitment and emotional involvement customers have with a sport organization Marketing Plan the document containing an analysis of the current marketing situation opportunities and threats analysis marketing objectives marketing strategy action programs and projected income Market Segmentation process of dividing large unlike groups of consumers into smaller more de ned groups of people who share similar characteristics Positioning establishing a brands image in the minds of consumers Relationship Marketing marketing with the conscious aim to develop and manage longterm andor trusting relationships with customers distributors suppliers or other parties in the marketing environments Sport Marketing proactive efforts that are designed to in uence consumer preferences for a variety of sport products and services More Info Marketing is understanding the customer 0 Needs wants desires Do customers only attend sporting events because of the quality of the home team 0 Factors of attendancenonattendance Demographic Segmentation Gender 0 Age 0 Family size 0 Income 0 Ethnicity Psychographic Segmentation o Lifestyles 0 Activities these attributes may be in uenced and changed 0 Interests Opinions Bene t Segmentation Different consumers may seek different bene ts from the same products quoton eldquot action may not be the primary attraction for many onsite consumers Geographic Segmentation urbanrural quotCollegeTownquot Weather Geodemographic Segmentation 0 Different populations living together 0 Same jobs Interests Incomes Bonding creation of uni ed commitment 0 Financial 0 Social Branding 0 Brands name term design symbol that identi es a product as different than another tangible and intangible attributes 0 Brand Equity What is the brand worth Is the brand recognized If recognized what do consumers associate with the brand Perceived quality of the brand Will consumers insist on buying it External Contingencies o What cannot be controlled Economy Technology Competition Physical environment Cultural trends Political Legal environment Interviews Mike Boykin CEO Bespoke Sports amp Entertainment 0 Describe the most valuable learning experience of your career and how it made you a better sport marketer Still learning everydayexperiences keep coming The ability to network with a diverse group of people helped career 0 What are the two big detriments to successful marketing Basics of fundamentals and communication When brand team or media doesn t communicate the campaign to the stakeholders o What are the biggest challenges faced by the sports marketing industry in the future Balancing technology and the live experience Want a sold out game plus a large media audience 0 Advice for sport marketing students Be different Know everything you can about the business and its leaders Network Ask great questions Eric Nichols Chief Marketing Of cer USC Gamecock Athletics 0 Describe the most valuable learning experience of your career and how it made you a better sport marketer Study your profession Trade journals networking professional organizations 0 What are the two big detriments to successful marketing Listen and create buzz There is an ever changing audience 0 What are the biggest challenges faced by the sports marketing industry in the future Battle between TV and a live sporting event 0 What are some things USC Athletics have done to keep current customers and attract new ones Improving for new season ticket holders Researching the fans 0 What do you look for in new hires Poor Hungry and Driven a PHD Creative and Driven 0 Advice for sport marketing students Start getting your foot in the door now Once your foot is in the door DON T BLOW IT Chapter 10 Key Terms 8020 rule Revenuegeneration rule that 80 of a sport organization s revenue comes from 20 of its customers Base salary plus commission combination of a set salary based on a staff member s experience and a percent of generated sales Closes for the next step Asking for a client s business or requesting referral information Closing reaching a sales agreement with a client Commitment and Consistency a person making a decision will experience pressure from others and themselves to behave consistently with that decision Liking A Person s feeling of affect on or preference for another person Override Compensation paid to a sales manager for overseeing a sales staff Prospecting searching for and creating new customers Reciprocity a mutual exchange a return in kind People react positively and feel obligated to repay others for favorable treatments received Referral When someone gives a salesperson a sales lead ROI Return on Investment Marketing success is measured by the ratio of revenue generatedcosts incurred Social Proof People will do things they see other people doing Telemarketingteleselling marketingsales approach that features the use of personal selling techniques in a nonfacetoface context and utilizes telecommunications technology as part of a wellplanned organized and managed marketing program More info What is selling 0 Ticket sales are the lifeblood of sport enterprises Sponsorship parking concessions licensed merchandise are revenue streams impacted by ticket sales Focusing on wants needs and desires Necessary Elements for Sales 0 Philosophy agreement make sure mission and goals mesh with individual philosophy 0 Product thoroughly understand the product its uses bene ts etc 0 Prospect develop a prospect database 0 Practice sales requires practice to develop skills 0 Performance combine real world selling with ongoing analysis 5 Sales Philosophies c Sun Tzu Art of War Adaptation relationship selling based upon being prepared and anticipating customer needs and interests Prize inside upfront approach to bene tbased selling based upon the premise that all customers want to know their prize The Customer Comes Second Sales staff needs must be satis ed before those of the customer ConsumerBehavior Driven Sales success involves identifying and understanding potential consumers and creating personal relationships in order to persuade customers Eduselling Educating and partnering with customers before during and after the sale leads to purchase satisfaction and longterm customer retention Sales Process Ensure Philosophical Agreement Learn and understand the organizations culture Know what the organization expects Develop and organize prospects After identifying the product to be sold prospects should beidenU ed Know what the prospects want and how they can be reached Adopt a salesconsultant approach Remove fear of failure Not pushy Solution to wants needs desires Open the sales Make a good rst impression Dress and speak in a professional manner Reaching Agreement Different types of closes Questions you will ask will help with the close Close get an action commitment Add value and obtain personal introductions Chapter 11 Key Terms Access the degree to which the sports content providers make themselves available to the media in terms of reporting and coverage Agendasetting how the media exert a signi cant in uence on public perception through their ability to lter and shape media content Distribution how sports content reaches a sport audience Fragmentation audiences have gotten smaller due to new media technologies which provide more options and channels Image can depend on several factors including the economic and cultural conditions that exist at the time Interactivity twoway communication that allows the audience to provide feedback and take part in the communication process Public Relations in charge of the organization and its athletes More info Media Audience 0 Late 19th Century Industrial Revolution created an economy where consumers had time and money to consume sport and media products 0 Sport becomes one important area of media outlets 0 20th Century Media continues to distribute sportrelated content but methods evolve Print TV Internet 0 In the last 15 years 7 Pro sports NFL NHL NBA Tennis Soccer Golf 3 conferences in college BlGlO SEC and Pac12 Programs moved from free TV to cable NFL games were televised over the interent Twitter is used to follow breaking news Impacts to Changes Sports to Cable 0 NFL began in 1987 with ESPN s Sunday night football package 0 NBA all conference nals on TNT o NCAA Final Four on TBS College football on cable for 11 years Media In uence News Cycle media began to provide coverage and commentary beyond what happened on the eld Media Sports History of TV ratings 1960519705 only 35 TV stations Late 1970519805 provided more options 1990520005 Regional Sports Networks Internet etc Growth of media led to greater fragmentation splitting large audiences into smaller niche audiences Technology has dramatically altered the methods sport organizations utilize to disseminate information to the media
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