Notes from the Week of April 18
Notes from the Week of April 18 SPTE 201
Popular in Introduction to Sport and Entertainment Management
Popular in Physical Education
This 4 page Class Notes was uploaded by Ali Boehnlein on Sunday April 24, 2016. The Class Notes belongs to SPTE 201 at University of South Carolina taught by Dr. Bob Heere in Spring 2016. Since its upload, it has received 12 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: 04/24/16
Notes from April 18 & 20 Revenue Generation Lecture Notes from Monday, April 18 SPTE 201 with Dr. Heere 1. Marketing mix a. Product- why you need it b. Place- where you sell it c. Price- how much the product costs d. Promotion- getting the name of the product heard i. Advertising ii. Public relations iii. Sales iv. Personal selling 2. Who are we selling to? a. Stakeholders (fans, athletes, sponsors, media) i. Ex. Tickets, equipment, ad space, TV rights, etc. 3. Purpose of sales/”how-to” a. Find/develop new clients b. Build relationships with goodwill c. Maintains contact with client (even after sale) d. Resolves conflict when issues with the product arise e. Provide product data in combination with the marketing dept. 4. Types of sales a. Low end consumer mass sales- tickets, concessions, parking i. Many small sales ii. Has a large audience b. High end sales- suites, boxes, media rights, sponsorships i. Fewer large sales ii. Has a very small/specific audience 5. Process of sales a. Ensuring philosophical agreement (depends on personality) b. Developing and organizing the prospect (contacts/do your research) i. Who are you talking to?- decision maker, influencer, gatekeeper, etc. c. Adapt a sales consultant approach i. Must find a way to create returning customers ii. Increase loyalty/build relationships/create trust d. Open the sale/give the pitch i. Give passion and energy ii. Make customer feel good about themselves (compliment?) iii. Understand needs/wants of the buyer iv. Keep it simple/listen to their concerns e. Conduct analysis i. Address any concerns ii. Determine their thoughts on the product 1. Would they recommend? 2. Would they buy again? 3. Do they like the product? iii. Is there a return on investment? (time=money) iv. 80/20 rule 1. 80% of your sales comes from 20% of your sales v. Cheaper to keep a customer than get a new one f. Reaching an agreement i. Getting the contract in place (administrative) ii. Address any final concerns to be addressed in writing g. Close on the sale i. If they say “I want to think this over” 1. Response- ask about concerns and any uncertainties h. Obtaining new personal introductions i. Follow-up with buyer ii. Get introduced to other contacts via the original client Legal Issues and Risk Management Lecture Notes from Wednesday, April 20 SPTE 201 with Dr. Heere 1. “Americans will sue each other at the slightest provocation” 2. Negligence- deals with the unintentional conduct that falls below a standard established by law to protect others from unreasonable risk and harm a. Unintended tort (civil wrong other than a breach of contract) b. 4 elements i. Duty- protect the participant from risk and harm ii. Breach of duty- failed to meet the required standard of care a. Would a reasonable person have acted similarly in the same situation? b. If you have expert knowledge the standard increases 2. Causation- is there a connection between the breach of duty and the resulting injury 3. Damages- an actual loss must have been incurred as a result of the breach of duty a. Compensatory ($$) or punitive (punishment) b. Compensatory are more common c. Defenses against negligence i. Statute of limitations- claims must be filed in a timely fashion ii. Act of God- a person has no liability in the case of a unforeseeable event/disaster of the negligence was not the cause of the injury iii. Contributory/comparative negligence- address whether you acted in a reasonable manner, or if you acted below the standard of care iv. Assumption of risk- most common 1. Primary- person understands and accepts the inherent risks (ex. Sports) 2. Secondary- person deliberately choses to encounter a known risk and act unreasonably (ex. Skiing off the marked trail) 3. Common liability issues a. Lack of supervision- quantity or quality i. Ex. 1 coach and 10 teams, unqualified v. qualified b. Improper instruction/training- adequacy/progression i. Were they educated on the safety/rules? ii. Did they follow safe training practices and an adequate build-up of skills? c. Safe use of equipment d. Emergency medical care e. Transportation 4. Contract law- promise/set of promises enforced by the courts which establish a duty to perform between 2 parties a. How is it formed i. Agreement- offer and acceptance ii. Consideration- exchange of value from both sides iii. Capacity- legally competent (excludes minors) iv. Legality- must not violate law to remain enforceable b. Remedies- often causes the contract to be terminated and the non- breaching party to be awarded damages from the breaching party i. Compensatory damages- normally used unless the object under contract is “unique” (ex. Babe Ruth jersey) ii. Liquidated damages- must approximate damages incurred 5. Constitutional law- federal principles that guide modern gov., outlines federal and state rights a. Gives unalienable rights to the citizens (Bill of Rights) b. 1 amendment- religion, expression/speech, etc. i. Ex. Mandatory prayer before games c. 4 amendment- no unreasonable search and seizure i. Ex. Should drug testing be allowed? d. 5 amendment/14 amendment- due process/fair treatment under the law i. Ex. Suspensions/fines
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