SPMT 270 EXAM 1

Basic Marketing philosophy - Correct Ans--Examine people's wants and (needs) -Select the best way to meet those wants -Achieve the organization's objectives by meeting and satisfying the consumers wants The Four Cs of Marketing (SWOT) - Correct Ans--Company -Consumers -Competitors -Climate The P's of The Marketing Mix - Correct Ans--Product -Price -Promotion -Place The Sport Product - Correct Ans--Any bundle or combo of attributes and qualities that a consumer expects will satisfy their "wants" and "needs" -A good, service, or combination that provides benefits to a consumer as part of an exchange Importance of Sport Marketing - Correct Ans--In order to survive, ad thrive, sport organizations rely on income and revenue to support their activities and programs -Increase consumers - attendance and viewership -College athletic departments are having to become more "Fincaciallly self-sufficient" -Even in high school, youth, and recreational sports are becoming more expensive Two thrusts of Sport Marketing - Correct Ans--The marketing of sport products to the sport consumer "Marketing Of Sport" -The marketing of mainstream and non-sport products through sport "Marketing Through Sport" Historical Challenges in Sport Marketing - Correct Ans--Marketing myopia: "Lack of foresight" -Lack of Market research: Get to know your consumer! -Poor sales training and techniques: This is the "lifeblood" of your organization Tex Rickard - Correct Ans-Madison square garden and Boxing promoter Fred Corcoran - Correct Ans-Worked with the PGA Bill Veeck - Correct Ans-MLB owner Don Canham - Correct Ans-University of Michigan athletic director Jon Spoelstra - Correct Ans-Executive, Marketing guru "Grandfather" of Sport Marketing - Correct Ans--Bill Veeck -MLB team owner and marketing pioneer... Known for his OUTRAGEOUS ideas -Believed that sporting events should be Entertaining -Experience should be remembered Wanted to create loyal fans Bill Veecks 12 Commandments for successful sports marketing - Correct Ans--Take your work seriously. Go for broke and give it your all -Never take yourself too seriously If you're a president, owner, or operator, attend every home game and never leave until the last out -Listen and be available to your fans -If you don't think a promotion is fun, don't do it. Don't insult your fans -Create an aura in your city. Make people understand that unless they come to the ballpark or stadium, they will miss something Growth and Development of sport marketing - Correct Ans--Sports organizations looking for a competitive advantage -Sport organizations looking to broaden their consumer markets -Evolution of media and technology 1970s - Correct Ans-NBA's Golden State Warriors are the first major sports org to administer fan surveys 1979 series - Correct Ans-Sports illustrated shed popular media light on the business of sport in a seven-part series 1979 - Correct Ans-ESPN is born! 1995 - Correct Ans-MLBs Seattle Mariners and NHLs San Jose sharks are the first professional sport franchises to launch their own team website What is marketing? - Correct Ans--Promotion -Branding The Sport industry - Correct Ans-Market where products and services are offered to consumers that are sport related Sports Marketing - Correct Ans--Creating Products the consumer wants -Promoting those products -Getting those products to the consumer The "Escalator" - Correct Ans--Bottom Section -Light User -Medium User -Heavy User -Defector Career Opportunities - Correct Ans--Advertising -Community and Public Relations