SMGT 3631 Study Guide - Fall 2018, Comprehensive Midterm Notes - Time, Rationality, Vise
SMGT 3631
MIDTERM EXAM
STUDY GUIDE
Fall 2018
The Nature of Sports Marketing
Thursday, September 6, 2018
1:16 PM
What is marketing?
• Marketing is… the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large
What is sport?
• An activity involving physical exertion and skill that is governed by a set of
rules or customs often
Definitions of Sport Marketing:
• The process of designing and implementing activities for the production,
pricing, promotion and distribution of a sport product to satisfy the needs or
desires of consumers and to achieve the company's objectives
Size of Sport Industry:
• 1995 - $152 billion: 11th largest industry in US
• 2002 - $194.64 billion: 6th largest industry in US
• 2012 - $422 billion
Spending categories:
• Spectators
• Advertising
• Operating expenses
• Sporting goods
Uniqueness of Sport Marketing:
• Product
• Price (finance)
• Place (market)
• Promotion
Uniqueness of Sport Product:
• An intangible, experiential, and subjective nature
• Strong personal and emotional identification
• Simultaneous production and consumption
o Can we store sport in our backpacks?
• Inconsistency and unpredictability
• Core product beyond marketers' control
o Can marketers decide which team will win?
find more resources at oneclass.com
find more resources at oneclass.com
What is strategy?
• "the big picture" of how the organization can be successful
• A clear and all encompassing strategy lies at the foundation of a company's
success
• The SWOT analysis
o Strengths
o Weaknesses
o Opportunities
o Threats
find more resources at oneclass.com
find more resources at oneclass.com
