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- SEM - Chapter 1 Vocabulary
SEM - Chapter 1 Vocabulary
Sports & Entertainment Marketing with Duncan at Plano East Senior High
About this deck
By: Jason Duncan
Textbook: Glencoe Marketing Series: Sports and Entertainment Marketing, Student Edition
Created: 2011-06-27
Size: 28 flashcards
Views: 690
Textbook: Glencoe Marketing Series: Sports and Entertainment Marketing, Student Edition
Created: 2011-06-27
Size: 28 flashcards
Views: 690
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Marketing
theprocess of developing, promoting, and distributing products (goods or services)to satisfy customers’ needs and wants
Developing
studyingconsumers to determine what they want, then designing the products that willsatisfy their needs and wants
Promoting
activitiesthat help educate consumers, create interest and desire, make a sale, andcreate an image for a company and its products
Distributing
themeans of getting the product into the hands of the customer
Goods
tangibleproducts, such as sports equipment
Services
intangibleproducts, such as movie tickets
Marketing concept
the idea that organizations need to satisfytheir customers while also trying to reach their organizations’ goals
Market
consistsof potential customers with shared needs who have the desire and ability to buya product
Target market
aspecific group of consumers that an organization selects as the focus of itsmarketing plan
Demographics
statistics that describe a population in terms of personalcharacteristics
Marketing mix
combinationof four basic marketing strategies, known as the 4 P’s – product, price, place,and promotion
Channel of distribution
thepath a product takes from the producer to the consumer
Economics
thestudy of the choices and decisions that affect making, distributing, and usinggoods and services
GrossDomestic Product (GDP)
thevalue of all goods and services produced within the country
Profit
themoney left after all costs and expenses of a business are paid
Competition
thestruggle among companies for customers
Price competition
typeof competition that follows the concept of demand elasticity and availablesubstitutes
Non-price competition
typeof competition that involves quality, service, or image
Copyright
legalprotection of a creator’s intellectual property, such as books, films, videogames, and music
Royalty
paymentfor permission to use a clip from a copyrighted film or television commercial
Patent
legalprotection that keeps others from making, using, importing, selling, oroffering them for sale
Trademark
legalprotection of words, names, symbols, sounds, or colors that distinguish goodsand services
Sole proprietorship
aform of business ownership that involves only one owner
Partnership
aform of business where two or more owners share the responsibility andliability
Corporation
aform of business that has the ability to conduct business and enter intocontracts apart from its owner(s)
Subchapter S corporation
aform of business ownership that acts like a corporation but is taxed like apartnership
About this deck
By: Jason Duncan
Textbook: Glencoe Marketing Series: Sports and Entertainment Marketing, Student Edition
Created: 2011-06-27
Size: 28 flashcards
Views: 690
Textbook: Glencoe Marketing Series: Sports and Entertainment Marketing, Student Edition
Created: 2011-06-27
Size: 28 flashcards
Views: 690
About StudyBlue
STUDYBLUE makes things that make you better at school.
Things like online flashcards with photos and audio.
Things like personalized quizzes and friendly reminders about when (and what) to study next.
Think of it as a digital backpack™: access to all of your study materials online and on your phone.
STUDYBLUE exists to make studying efficient and effective for every student, for free. Join us.
“I have used this website for three exams, and I see a huge difference in my test results.”
Naj
Naj