sports marketing test #1

Term Definition
Geographic segmentation divide market into physical locations
demographic segmentation focus on info that can be measured (age, gender, ect)
psychographic segmentation characteristic that cant be measured such as values interests
Market Segment a group or consumer with in a larger market who share one or more characteristics
four Ps of marketing 1. place, 2. product, 3. promotion, 4. price
marketing 1 the management process through which goods and services move from concept to the customer
marketing 2 the action or business of promoting and selling products or services, including market research and advertising
sports marketing is a subdivision of marketing which focuses both on the promotion of sports events and teams as well as the promotion of other products and services through sporting events and sports teams.
aim of sports marketing the aim is to know and understand the customer so well the product or service fits him and sells itself
the traditional marketing mix traditional marketing mix- price, product, place, promotion
Product- who are we selling?
price how much are we selling for?
place where and how will we sell it?
promotion how will we let people know we are selling it?
marketing mix a combination of four basic marketing strategies, known as the four ps
what does the customer want from the product/ service product
how and where will the customer use it product
what does it look like product
how will customers experience it product
how is it brander/ what will it be called product
how is it differentiated versus your competitors product
Design think about what the consumer really needs
Name what is going to attract or "hook" the consumer
what is the value of the product or service to the buyer price
are there established price points for products or services in this area price
is the customer price sensitive price
what discounts should be offered to specific segments of your market price
how will your price compare with your competitors price
where do buyers look for your product or service place
how can you access the right distribution channels? place
what do your competitors do, and how can you learn from that? or differentiate? place
channel of distribution the path a product takes from the producer to the consumer
where are when can you get across your marketing messages to your target market? promotion
when is the best time to promote? is there seasonality in the market? promotion
how do your competitors do their promotions? and how does that influence your choice of promotional activity? promotion
promotional mix 1.Advertising 2. sponsorship 3. sales promotion 4. publicity 5.personal selling