SPORTS AND ENTERTAINMENT FINAL
EXAM LATEST|2024
amateur athlete - Someone who does not get paid to play a sport but plays for
enjoyment, challenge, or both
awareness - the percent of potential customers in a specific target audience who are
aware of a products existence
advertising - Any paid...
amateur athlete - Someone who does not get paid to play a sport but plays for
enjoyment, challenge, or both
awareness - the percent of potential customers in a specific target audience who are
aware of a products existence
advertising - Any paid form of communication through mass media directed at identified
consumers to provide information and influence their actions
affinity sports - These are niche markets whose participants are just as passionate
about their sports as are enthusiasts in the more traditional sports
aftermarket - the market for parts and accesories used in the repair or upgrading of a
product after the product is sold
agent - A party who agrees to act or does business on behalf of another.
balance sheet - A financial statement that reports assets, liabilities, and owner's equity
on a specific date.
bottlenecks - occur when resources reach full capacity and cannot handle any
additional demands; they limit throughout and impede operations - lessening of traffic
brand awareness - How quickly or easily a given brand name comes to mind when a
product category is mentioned.
budget - A plan for making and spending money
collective bargaining - Negotiations between representatives of labor unions and
management to determine pay and acceptable working conditions.
contracts - Agreement between two parties that creates an obligation to buy and sell
goods and services
copyright laws - laws designed to protect intellectual property rights and provide
potential monetary rewards for inventiveness and hard work
, cartel - A formal organization of producers that agree to coordinate prices and
production
conference - a group of college athletic teams within the same region
cost per reach - The cost of an advertising campaign divided by the number of people
reached
data based marketing - involves the collection of information about past, current, and
potential consumers.
data mining - Application of statistical techniques to find patterns and relationships
among data for classification and prediction
demand - Quantity of a good or service that consumers are willing and able to buy.
demographics - Characteristics such as age, sex, income, location, education, and
religion ofa specific group of people used to form a target market
egress - Act of going out; exit
emotional ties - the strong feelings a person or group of people have towards sports or
a specific team
endorsement - A form of testimonial from someone that indicates that they like or
approve of a product
ethics - A set of moral principles that may be held by a society, a group or an individual.
entertainment - whatever people are willing to spend their money and time viewing,
rather than participating
fan loyalty - ______ is devotion to an entity. Sports ____________determines how
much fans are willing to pay for sporting event tickets and how many games they likely
to attend. A losing record is likely to decrease sporting event attendance , but ther usally
a segment of extremely loyal fans that will continue to attend games.
financing - Budgeting for marketing activities, obtaining the necessary funds needed for
operations, and providing financial assistance to customers so they can purchase the
business products and service.
forecast N- N NAn Nestimate Nor Nprediction Nof Nconditions Nand Nevents Nin Nthe Nproject's Nfuture
Nbased Non Ninformation Nand Nknowledge Navailable Nat Nthe Ntime Nof Nthe N_________. NThe
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