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97 Cards in this Set
- Front
- Back
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all activities to get product to consumer
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Marketing
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the involvement of sports in marketing
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Sports Marketing
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the involvement of entertainment in marketing
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Entertainment Marketing
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tangible and touchable
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Good
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task
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Service
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Greatest show on earth; published his obituary in NY, died 2-weeks later; one of the earliest millionaires.
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P.T. Barnum
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Created first fully synchronized cartoon, Mortimer Mouse later called Mickey Mouse was feature character in Steamboat Willie: produced first feature length cartoon Snow White. Disneyland, Disney World, EPCOT.
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Walt Disney
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Slapstick comedy; developed character that wore baggy pants, tight coat, large shoes on the wrong feet and black derby hat.
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Charlie Chaplin
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First female leading lady’; helped advance careers of many Latino performers.
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Lucille Ball
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Commercial tie-in with movies (Reese’s Pieces in E.T.)
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Steven Spielberg
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brought soloist to front of band; revolutionized jazz
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Louis Armstrong
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created concept of album
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The Beatles
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revolutionized rock and roll; scandal on Ed Sullivan Show
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Elvis Presley
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started production company Harpo; oxygen channel, etc.
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Oprah Winfrey
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greatest basketball player ever; sponsors many products
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Michael Jordan
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first female to sign endorsement contract
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Babe Didrickson
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founded NASCAR
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Bill France Sr
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lettered in four sports at UCLA; broke MLB color barrier
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Jackie Robinson
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first female to be named Sporting News Man of the Year
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Jackie Joyner-Kersee
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baseballs greatest slugger; Athlete of the Century
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Babe Ruth
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Promoted himself as I am the greatest; changed name to Muhammad Ali after joining Nation of Islam; lost title because he refused to join the army. Later got it back
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Cassius Clay
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Founded leading sports marketing company with many clients; responsible for bring Panthers and other professional teams to North Carolina.
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Max Muhleman
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found WWE; coined term sports entertainment
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Vince McMahon
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all activities to get product to consumer
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Marketing
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states that you will be successful if you directed everything toward meeting your customers needs and wants
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Marketing Concept
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obtaining information needed to make sound business decisions
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Marketing Information Management
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everything necessary to improve your product or service
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Product/Service Management
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preventing or reducing business loss
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Risk Management
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buying things for use in day to day operations
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Purchasing
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obtaining the money needed for businesses
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Financing
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determining value to charge
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Pricing
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communication used to get them to buy product
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Promotion
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determining customer needs and responding to them with the intent to influence purchase decision
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Selling
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how we transport and store the product on the way from producer to consumer
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Distribution
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the 4 P’s; product, price, place and promotion
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Marketing
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choice of product, packaging, quality, brand name, warranty
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Product
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price setting, terms, discounts
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Price
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channel of distribution, specific stores, method of transportation, inventory
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Place
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what message, how, where, when
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Promotion
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people who have ability and willingness to purchase product
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Market
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single plan used to reach all consumers
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Mass Marketing
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those who the company desires to have as customers
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Target Marketing
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dividing market into smaller groups
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Market Segmentation
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dividing based on personal characteristics
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Demographic Segmentation
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dividing based on attitude, and lifestyle
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Psychographic Segmentation
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dividing based on where someone lives
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Geographic Segmentation
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Dividing based on what they are looking for in product or why they use it.
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Behavioral Segmentation
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study of how to meet unlimited needs with limited resources
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Economics
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land, labor, and capital
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Economic Resources
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everything found in the land and sea
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Land
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all people needed to produce products
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Labor
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equipment or money needed to run business
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Capital
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not enough of something to satisfy demand
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Scarcity
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tangible
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Economic goods
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intangible
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Economic services
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people willing to take risk to operate their own business
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Entrepreneurship
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value added
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Utilities
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value added by taking raw materials and turning it into some useful
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Form Utility
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value added by having it available at the right time
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Time Utility
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value added by providing customer with information
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Information Utility
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value added by monetary exchange to gain possession
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Possession Utility
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value added by having it in a convenient place
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Place Utility
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the market answers the three questions
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Market Economy
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the government answers three questions
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Command Economy
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based on the way everything has always been done
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Traditional Economy
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people elect officials who are suppose to represent their interest
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Capitalism
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try to eliminate the difference between rich and poor
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Socialism
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government has one political party and that party controls everything
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Communism
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what producers are willing to sell at a given time and price
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Supply
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what consumers are willing to buy at a given time and price
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Demand
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demand will increase when price decreases and vice versa
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Law of Supply and Demand
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how a change in price affects demand
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Elasticity
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change in price affects demand
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Elastic Demand
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change in price has little or no affect on demand
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Inelastic Demand
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the stages the economy goes through
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Business cycle
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highest economic growth, low unemployment, increase of purchasing of related merchandise
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Prosperity
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slow down in growth, increase in unemployment, decrease in purchasing and production
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Recession
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prolonged recession with only necessary spending and increase in poverty
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Depression
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some jobs appear, businesses start to expand again, spending and production begin to increase
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Recovery
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rivalry between 2 or more businesses
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Competition
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rivalry between 2 businesses with same type product and same business format (McDonalds – Burger King)
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Direct competition
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rivalry between 2 businesses with similar product but different business format (McDonalds – Ruby Tuesday)
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Indirect competition
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rivalry promotion based on lowest cost
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Price competition
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rivalry promotion based on other than price (location, customer service, quality
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Non-price competition
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no competition because business controls the sale and/or production method of a product
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Monopolies
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money made after all expenses are paid
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Profit
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possibility of loss or failure
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Risk
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private enterprise or the ability of ownership
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Free Enterprise System
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owned and operated by one person
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Sole Proprietorship
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2 or more people own the business
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Partnership
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both partners share equally in profit or loss
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General Partner
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each partner is limited to loss of the percentage put into the business
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Limited Partner
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a chartered legal entity with stockholders as owners
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Corporation
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(closed) stock not sold to general public
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Private Corporation
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(open) stock sold to the public
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Public Corporation
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35 or less shareholders and taxed like a sole proprietorship
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Sub chapter S Corporation
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owners purchase the right to use a name and trademark that is already established (McDonalds)
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Franchise
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