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Sport Marketing Fundamentals
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Flashcards
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Licensed Merchandise
Products that are legally allowed to feature logos or trademarks of sports teams, events, or athletes.
Sponsorship
The financial or in-kind support of an activity, used primarily to reach specified business goals.
Price Skimming
Setting a high price when introducing a new or unique product and then gradually lowering the price over time.
Ambush Marketing
A marketing strategy wherein a brand associates itself with an event without paying sponsorship fees.
Endorsements
When a famous personality, typically an athlete, promotes a product or service.
Sports Media Rights
The legal rights to broadcast sports events or use the content of sports for various media channels.
The 4 P's of Marketing
Product, Price, Place, Promotion; these are the basic components of a marketing mix.
Market Segmentation
Dividing a broad consumer or business market into sub-groups based on some type of shared characteristics.
Grassroots Marketing
Marketing activity that is targeted at a small group with the intention of spreading the marketing message to a larger audience.
Target Market
A specific group of potential consumers towards which a company directs its marketing efforts.
Social Media Marketing in Sport
The use of social media platforms to promote a sports team, athlete, brand, or event.
Fan Engagement
The process of building a relationship with fans through various channels and strategies to increase loyalty and lifetime value.
Price Penetration
Setting a low price for a new product in order to attract a large number of customers and gain market share quickly.
Brand Equity
The value and strength of a brand that determines its worth, both financially and strategically.
Public Relations in Sport
Strategic communication processes that build mutually beneficial relationships between sports organizations and their publics.
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