SMGT 336 Midterm || Questions and 100% Verified Answers.
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SMGT 336
What are the Key Ingredients of a Successful Sport Branding Effort? correct answers •*Stickiness of an idea*: How does the brand capture fans' imagination?
•*Reach of brand*: How far does the influence of brand extend?
•*Social identity*: Do different segments of the population relate to th...
what are the key ingredients of a successful sport
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SMGT 336 Midterm || Questions and 100% Verified
Answers.
What are the Key Ingredients of a Successful Sport Branding Effort? correct answers
•*Stickiness of an idea*: How does the brand capture fans' imagination?
•*Reach of brand*: How far does the influence of brand extend?
•*Social identity*: Do different segments of the population relate to the brand in a personal way?
•*Media interest*: Are members of the media captivated in some way by the influence of a
brand?
•*Monetization and marketing metrics*: Can marketers put a number on a brand's value or
success?
What are some of the components of the Competitive marketplace? correct answers • Leisure
spending on spectator sports has decreased in the United States.
• Expansion of sport entertainment and participation options creates greater marketplace
competition.
• Maintaining market share can be difficult for sport products.
• Popularity of some sports, such as action sports, is plateauing or declining.
What is sports marketing? correct answers •All activities designed to meet the wants and needs
of sport consumers through an exchange process.
•Sport consumers are involved in sport through playing, officiating, watching, listening, reading,
and collecting.
What are the two major thrusts of sport marketing? correct answers 1. The marketing of sport
products to the sport consumer
2. The marketing of sport and nonsport products through sport
What are the Marketing Myopias? correct answers •Focus on producing and selling goods and
services rather than on identifying and satisfying the needs and wants of consumers and their
markets
•Belief that winning absolves all other sins
•Confusion between promotions and marketing
•Ignorance of competition inside and outside sport
•Short-sighted focus on quick-return price hikes or investments such as sponsorships rather than
long-term investments in research and in relationship marketing
•Poor-quality research
•Poor sales and service
, •Arrogance and laziness
•Failure to adapt to industry, market, and consumer change
What is grassroots marketing and stress? correct answers Refers to marketing activity on a local
community level
1. Shifting economy and pressure on tax revenue spending have clearly affected high school
sports.
2. High school sport participation and spectator attendance play significant roles in sport
popularity.
What are some media challenges? correct answers • The way that fans consume sport has
evolved considerably, particularly with the explosion of new technology such as social media,
mobile devices, and high-definition televisions.
• Popularity of newspapers is in sharp decline.
• Sport and media organizations must adapt to new means of reaching consumers.
What are the four components that make sport unique? correct answers •Sport product
•Sport marketplace
•Sport finance
•Sport promotion
What is the "sport product" component that makes sport unique? correct answers • Any bundle or
combination of qualities, processes, and capabilities (goods, services, or ideas) that a sport
consumer expects will deliver want satisfaction.
• Sport marketers must understand why consumers make consumption decisions.
Why is the product unique:
•An intangible, ephemeral, experiential, and subjective nature
•Strong personal and emotional identification
•Simultaneous production and consumption
•Dependence on social facilitation
•Inconsistency and unpredictability
•Core product beyond marketers' control
What is the "sport marketplace" component that makes sport unique? correct answers •Many
sport organizations simultaneously compete and cooperate.
•Demand tends to fluctuate widely.
•Sport has an almost universal appeal and spreads through all elements of life.
What is the "sport finance" component that makes sport unique? correct answers •Pricing the
individual sport product unit by traditional job costing is difficult.
•The price of the sport product itself is invariably quite small in comparison with the total cost
paid by the consumer.
•Indirect revenues are frequently greater than direct operating revenues.
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