Short Answer Unit 3

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Created by
Jack

Cards (22)

  • The 4C's of Sports Marketing are: Consumer, Competition, Company and Climate
  • The 4P's of Sports Marketing are: Product, Price, Place and Promotion
  • The 4 types of marketing utilities are: Form Utility, Time Utility, Place Utility and Ownership Utility
  • Form utility is using raw materials to create a finished product
  • Time Utility is getting a product to the consumer when the consumer wants it
  • Place Utility is getting the product to the consumer where the consumer shops
  • Ownership Utility is the ability to transfer possesion of a product from seller to buyer
  • In Order, the 5 common stages in the New Product Development process are: 1. Idea Generation, 2. Screening and Analysis, 3. Concept Development, 4. Test Marketing and 5. Commercialization
  • The 3 levels of branding through which a consumer might progress include: Brand Recognition, Brand Preference, and Brand Instistence
  • Brand Recognition is when a consumer is only aware of the existence of a particular brand
  • Brand Preference is when the consumer has developed a preference for a specific brand
  • Brand Insistence when the consumer will buy only their brand and no other
  • 3 factors that can affect Price Elasticity include: Income, The Economy and The Competition
  • The 4 types of Indirect Distribution channels are: Wholesaler, Distributor, Retailer and Agent/Broker
  • A Wholesaler is a company that buys goods in order to resell to retailers or consumers
  • A Distributor is a wholesaler who ally themselves with a specific product
  • A Retailer is a business who purchases goods to resell to end user consumers
  • An Agent/Broker is a person/company who acts as an extension of the manufacturer and “move“ product
  • The 3 levels of distribution for a sports product are: Intensive, Selective and Exclusive Distribution
  • Intensive Distribution is when a product will be offered in as many places as possible
  • Selective Distribution is when the product will be offered in a limited amount of places
  • Exclusive Distribution is when the product will be offered in one or few outlets