Sports and Entertainment Marketing/Strategic Marketing

Recognize the importance of marketing to the sports and entertainment industry.

• Marketing increases revenue and brand visibility.

• Marketing is not important in sports and entertainment.

• Marketing only focuses on traditional advertising.

• Marketing has no impact on audience engagement.

Explain the seven marketing functions and their importance in sports and entertainment.

• The seven marketing functions are product/service management, marketing-information management, pricing, distribution, promotion, selling, and financing.

• The seven marketing functions are advertising, public relations, sales promotion, personal selling, direct marketing, digital marketing, and event marketing.

• The seven marketing functions are market research, branding, product development, pricing strategy, distribution strategy, promotional strategy, and customer service.

• The seven marketing functions are strategic planning, market segmentation, targeting, positioning, differentiation, marketing mix, and customer relationship management.

Which of the following is the first step in developing a market research project?

• Defining the problem and research objectives

• Collecting data

• Analyzing data

• Presenting the findings

Identify the challenges, obstacles, and limitations associated with sports and entertainment marketing.

• Lack of audience engagement

• High competition

• Limited budget

• All of the above

The significance of the four P’s to the target market is:

• Product, Price, Place, Promotion

• People, Process, Physical Evidence, Performance

• Planning, Production, Placement, Pricing

• Purpose, Profit, Positioning, Packaging

Compare and contrast the differences of the marketing mix components in sports and entertainment.

• Sports focus more on physical products, while entertainment focuses on experiences.

• Both sports and entertainment focus equally on physical products and experiences.

• Sports focus more on experiences, while entertainment focuses on physical products.

• There is no difference in the marketing mix components of sports and entertainment.

Which of the following is a factor that affects pricing sports and entertainment products?

• Market demand

• Color of the product

• Brand logo design

• Packaging material

Calculate the markup of sports and entertainment products.

• 10%

• 20%

• 30%

• 40%

Examine ticket sales policies/strategies in sports and entertainment.

• Ticket sales policies/strategies are the same across all sports and entertainment events.

• Ticket sales policies/strategies vary depending on the sport or entertainment event.

• Ticket sales policies/strategies are only important for large events.

• Ticket sales policies/strategies do not affect the success of an event.

Identify types of market segmentation.

• Demographic, Geographic, Psychographic, Behavioral

• Product, Price, Promotion, Place

• Strengths, Weaknesses, Opportunities, Threats

• Primary, Secondary, Tertiary