Marketing in Sports and Entertainment
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Questions and Answers

What is one of the key roles of marketing in the sports and entertainment industry?

  • To reduce competition among service providers
  • To focus solely on production costs
  • To drive consumer engagement (correct)
  • To limit brand awareness

    • Which function of marketing is primarily responsible for establishing the value of a product?

  • Product/Service Management
  • Pricing (correct)
  • Promotion
  • Distribution

    • Which of the following is NOT one of the steps in developing a market research project?

  • Advising on ethical marketing (correct)
  • Reporting
  • Identify the Problem
  • Data Collection

    • What marketing challenge relates to changing consumer behavior due to economic shifts?

    <p>Economic Factors</p> Signup and view all the answers

    What does the 'Place' aspect of the Four P's in marketing refer to?

    <p>Locations and distribution channels</p> Signup and view all the answers

    Which pricing strategy involves setting high prices for exclusive items?

    <p>Skimming Pricing</p> Signup and view all the answers

    In what way does marketing information management contribute to marketing efforts?

    <p>By collecting and analyzing data for strategic decisions</p> Signup and view all the answers

    What type of pricing strategy is designed to attract consumers by starting with low prices?

    <p>Penetration Pricing</p> Signup and view all the answers

    What is the first key step in the management control process?

    <p>Setting Standards</p> Signup and view all the answers

    Which activity is NOT part of the implementing function?

    <p>Establishing Standards</p> Signup and view all the answers

    What should be done if actual performance deviates from set standards?

    <p>Implement Corrective Actions</p> Signup and view all the answers

    The purpose of monitoring results is to:

    <p>Track and measure performance</p> Signup and view all the answers

    Which of the following is essential for effective delegation?

    <p>Granting sufficient authority</p> Signup and view all the answers

    What is a benchmark used to measure performance called?

    <p>Standard</p> Signup and view all the answers

    What is a primary goal of the implementing function?

    <p>To translate strategy into actions</p> Signup and view all the answers

    Which of the following is a part of evaluating performance?

    <p>Providing feedback</p> Signup and view all the answers

    What is one way organizations can correct deviations?

    <p>Change marketing strategies</p> Signup and view all the answers

    What is the role of resource allocation in the implementing function?

    <p>To ensure availability of necessary resources</p> Signup and view all the answers

    What is the purpose of calculating markup in a business?

    <p>To assess profit margin</p> Signup and view all the answers

    Which type of market segmentation focuses on attitudes, values, and lifestyles?

    <p>Psychographic</p> Signup and view all the answers

    What is a benefit of establishing a service culture within an organization?

    <p>Enhances customer experience</p> Signup and view all the answers

    Which component is NOT part of a typical marketing plan?

    <p>Product Mix</p> Signup and view all the answers

    What does the event triangle in event marketing consist of?

    <p>Event, attendees, sponsors</p> Signup and view all the answers

    Which of these is NOT a characteristic to consider when selecting a venue?

    <p>Advertising budget</p> Signup and view all the answers

    Dynamic pricing strategies are primarily based on which factor?

    <p>Demand fluctuations</p> Signup and view all the answers

    What is a fundamental reason for sports and entertainment organizations to implement promotions?

    <p>Build brand awareness</p> Signup and view all the answers

    What does product positioning focus on?

    <p>Highlighting unique benefits</p> Signup and view all the answers

    Which of the following is NOT considered a form of advertising in sports and entertainment?

    <p>Public funding</p> Signup and view all the answers

    In which stage of the product life cycle is marketing strategy primarily focused on gaining market share?

    <p>Growth</p> Signup and view all the answers

    What role does buyer behavior analysis play in marketing?

    <p>Guides product design and strategies</p> Signup and view all the answers

    Which financing opportunity can be utilized for sports and entertainment facilities?

    <p>Public funding</p> Signup and view all the answers

    Which method is commonly used for collecting marketing information?

    <p>Surveys and focus groups</p> Signup and view all the answers

    What does customization in marketing refer to?

    <p>Tailoring experiences to individual preferences</p> Signup and view all the answers

    Which of the following is a key skill necessary for a career in sports and entertainment?

    <p>Problem-solving skills</p> Signup and view all the answers

    What is a common educational requirement for careers in sports management?

    <p>Bachelor's degree in sports management or a related field</p> Signup and view all the answers

    Which of the following describes a barrier to employment in the sports and entertainment industry?

    <p>High competition for jobs</p> Signup and view all the answers

    What is the primary purpose of a career portfolio in the sports and entertainment field?

    <p>To showcase professional skills and experience</p> Signup and view all the answers

    Which of the following is a common role at the entry-level in sports and entertainment management?

    <p>Event coordinator</p> Signup and view all the answers

    What is one benefit of following best practices in an organization?

    <p>Better long-term results</p> Signup and view all the answers

    What is the role of Management Information Systems (MIS) in decision-making?

    <p>To provide data-driven insights that inform decisions</p> Signup and view all the answers

    Which of the following is a key component of an effective marketing plan?

    <p>Target audience</p> Signup and view all the answers

    Which leadership style involves adapting to the specific situation and the needs of the team?

    <p>Situational</p> Signup and view all the answers

    What is a key trait that successful teams must possess?

    <p>Defined objectives</p> Signup and view all the answers

    What is the implication of pursuing internships in the sports and entertainment field?

    <p>They provide real-world training and experience</p> Signup and view all the answers

    Which factor is crucial for marketers when determining the focus for a marketing plan?

    <p>Market research and consumer feedback</p> Signup and view all the answers

    Which factor is NOT commonly associated with poor teamwork?

    <p>Effective communication</p> Signup and view all the answers

    What is the significance of Management Information Systems (MIS) in organizations?

    <p>They support decision-making and improve efficiency</p> Signup and view all the answers

    What is a significant change in the evolution of Management Information Systems?

    <p>Integration of artificial intelligence for data insights</p> Signup and view all the answers

    What is a primary disadvantage of not-for-profit organizations?

    <p>Limited ability to raise capital</p> Signup and view all the answers

    Which of the following best defines marketing tactics?

    <p>Individual actions that implement marketing strategies</p> Signup and view all the answers

    Which motivation technique involves acknowledging employee achievements?

    <p>Offering Rewards</p> Signup and view all the answers

    Which of the following is NOT a source of revenue in the sports and entertainment industries?

    <p>Personal donations</p> Signup and view all the answers

    What characterizes a self-managed team?

    <p>They operate with a high degree of autonomy</p> Signup and view all the answers

    How does planning benefit businesses in the competitive landscape?

    <p>By helping businesses anticipate market shifts</p> Signup and view all the answers

    Which of the following describes the importance of customer feedback in business?

    <p>It helps businesses improve products and services</p> Signup and view all the answers

    What does an income statement primarily show?

    <p>Net profit or loss over time</p> Signup and view all the answers

    Which is an important human relations skill for leaders?

    <p>Active listening</p> Signup and view all the answers

    What is a primary reason that teams may fail?

    <p>Unresolved conflict</p> Signup and view all the answers

    Which strategy involves shifting risk to another party?

    <p>Transfer</p> Signup and view all the answers

    What type of teams consists of members from different departments working on a shared project?

    <p>Cross-Functional Teams</p> Signup and view all the answers

    What is the main purpose of economic impact studies?

    <p>To analyze financial effects on local economies</p> Signup and view all the answers

    Which organizational structure allows for flexibility and fewer management layers?

    <p>Flat Structure</p> Signup and view all the answers

    Which motivational factor involves receiving financial benefits or recognition?

    <p>Extrinsic Motivation</p> Signup and view all the answers

    What is crucial for promoting a successful team environment?

    <p>Shared goals and clear communication</p> Signup and view all the answers

    What does SWOT analysis assess?

    <p>Strengths, weaknesses, opportunities, and threats</p> Signup and view all the answers

    What characteristic is important for a leader managing change?

    <p>Visionary thinking</p> Signup and view all the answers

    What is a common risk faced by the sports and entertainment industry?

    <p>Injury to players or performers</p> Signup and view all the answers

    Which skill is NOT essential in the sports and entertainment industry?

    <p>Technical coding skills</p> Signup and view all the answers

    Which of the following is a method to budget effectively in sports?

    <p>Comprehensive annual analysis</p> Signup and view all the answers

    What primarily drives tourism in relation to sports events?

    <p>Attraction of out-of-town visitors</p> Signup and view all the answers

    Which budgeting technique calculates the sales volume needed to cover costs?

    <p>Breakeven Point Analysis</p> Signup and view all the answers

    What risk management strategy involves eliminating the potential risk altogether?

    <p>Avoidance</p> Signup and view all the answers

    Which factor is NOT considered during a SWOT analysis?

    <p>Technology trends</p> Signup and view all the answers

    What is the main purpose of event budgets in event management?

    <p>To allocate financial resources and control costs</p> Signup and view all the answers

    Which economic utility involves the timing of an event?

    <p>Time Utility</p> Signup and view all the answers

    What is a common factor affecting event attendance?

    <p>Competition from other events</p> Signup and view all the answers

    What is considered a strategy for managing concessions sales effectively?

    <p>Implementing discounts during events</p> Signup and view all the answers

    Which type of organizational structure involves the least hierarchy?

    <p>Flat Structure</p> Signup and view all the answers

    What is the primary role of general managers in professional teams?

    <p>Managing overall team performance and player trades</p> Signup and view all the answers

    What is a benefit of continuous professional development for employees?

    <p>Improving their skills and industry knowledge</p> Signup and view all the answers

    Which risk management strategy involves altering the approach to minimize loss?

    <p>Reduction</p> Signup and view all the answers

    What is the purpose of job descriptions in human resource management?

    <p>To ensure roles and responsibilities are clear</p> Signup and view all the answers

    What is a primary purpose of regular performance evaluations of employees?

    <p>To assess employee's productivity</p> Signup and view all the answers

    Which category of risk includes threats to reputation?

    <p>Reputational Risk</p> Signup and view all the answers

    What does SWOT analysis help organizations identify?

    <p>Strengths, weaknesses, opportunities, and threats</p> Signup and view all the answers

    How does diversity in the workplace benefit organizations?

    <p>Promotes innovation and inclusion</p> Signup and view all the answers

    What is an essential function of human resources in an organization?

    <p>Legal compliance</p> Signup and view all the answers

    Which of the following strategies is NOT recommended for recruiting sports and entertainment employees?

    <p>Social media campaigning</p> Signup and view all the answers

    What is an example of a fringe benefit for employees in the sports and entertainment sector?

    <p>Health insurance</p> Signup and view all the answers

    What activities are involved in Human Resources Management?

    <p>Recruitment, training, and employee relations</p> Signup and view all the answers

    What is the initial step in the development phase for sports and entertainment planning?

    <p>Goal setting</p> Signup and view all the answers

    What is a primary focus when recruiting and hiring personnel?

    <p>Aligning hires with company values and goals</p> Signup and view all the answers

    What are sponsorships in the context of sports and entertainment?

    <p>Financial support for teams or events in return for advertising</p> Signup and view all the answers

    Which of the following is NOT considered a component of the sports and entertainment industry?

    <p>Economists</p> Signup and view all the answers

    What is a key economic impact of sports and entertainment events at the local level?

    <p>Increased local business revenue</p> Signup and view all the answers

    What role does publicity play in the sports and entertainment industry?

    <p>Unpaid media coverage to create a positive image</p> Signup and view all the answers

    What is one disadvantage of operating as a for-profit organization?

    <p>Pressure to meet financial targets</p> Signup and view all the answers

    How can businesses create loyalty through promotion?

    <p>By encouraging repeat attendance or purchases</p> Signup and view all the answers

    Which of the following is a step in developing an effective advertising campaign?

    <p>Media Selection</p> Signup and view all the answers

    What does the term 'endorsements' refer to in the sports and entertainment industry?

    <p>Athletes promoting products in exchange for compensation</p> Signup and view all the answers

    What is an example of increased digital engagement in the sports and entertainment industry?

    <p>E-sports and streaming platforms</p> Signup and view all the answers

    What is the primary purpose of advance publicity in sports and entertainment?

    <p>To build anticipation and enhance ticket sales or viewership</p> Signup and view all the answers

    Which of the following is NOT a benefit of positive public relations?

    <p>Enhancing product sales directly</p> Signup and view all the answers

    What is one ethical concern associated with gambling in sports?

    <p>Potential manipulation of game outcomes</p> Signup and view all the answers

    What role does the NCAA play in college athletics?

    <p>It sets rules for eligibility and organizes national championships</p> Signup and view all the answers

    Which aspect of ethics in sports emphasizes treating others with dignity and fairness?

    <p>Respect</p> Signup and view all the answers

    How does celebrity endorsement primarily affect product sales?

    <p>It can significantly boost product visibility and credibility</p> Signup and view all the answers

    Which form of licensing allows multiple parties to produce the same licensed product?

    <p>Non-exclusive licensing</p> Signup and view all the answers

    The impact of negative public relations on an organization is often evident in which area?

    <p>Erosion of public trust and reputation</p> Signup and view all the answers

    What is a primary responsibility of the NJCAA?

    <p>To govern junior college sports and support athlete development</p> Signup and view all the answers

    What is a significant consequence of unethical behavior in sports?

    <p>Legal repercussions and damage to reputation</p> Signup and view all the answers

    What is an autocratic leadership style characterized by?

    <p>Leader makes decisions without team input</p> Signup and view all the answers

    Which communication skill is vital for creating clear press releases?

    <p>Proper grammar and clarity</p> Signup and view all the answers

    What is a common reason people resist change in an organization?

    <p>Fear of the Unknown</p> Signup and view all the answers

    What type of sponsorship involves a company supporting a specific event?

    <p>Event sponsorship</p> Signup and view all the answers

    In sports governance, which organization focuses on smaller colleges and universities?

    <p>NAIA</p> Signup and view all the answers

    Which step is NOT part of the effective change process?

    <p>Ignore Feedback</p> Signup and view all the answers

    What is the primary focus of social responsibility in sports and entertainment?

    <p>Supporting charity and promoting inclusivity</p> Signup and view all the answers

    What is NOT a characteristic of enlightened leaders?

    <p>Autocratic</p> Signup and view all the answers

    Operational decisions are primarily concerned with which aspect of management?

    <p>Daily operations of the organization</p> Signup and view all the answers

    What common risk is associated with group decision-making?

    <p>Groupthink pressure to conform</p> Signup and view all the answers

    Which of the following is an advantage of strategic management?

    <p>Ensures resource optimization</p> Signup and view all the answers

    Which of the following does NOT fall under internal environmental factors?

    <p>Market trends</p> Signup and view all the answers

    What is the primary purpose of knowledge management in organizations?

    <p>To ensure that valuable information is accessible for decision-making</p> Signup and view all the answers

    Which of the following is NOT a step in the delegation process?

    <p>Hoard Information</p> Signup and view all the answers

    What does a SWOT analysis evaluate?

    <p>Strengths, weaknesses, opportunities, and threats</p> Signup and view all the answers

    Which of the following is NOT a strategy used by leaders to motivate employees?

    <p>Isolation</p> Signup and view all the answers

    Participative management primarily focuses on which aspect?

    <p>Decentralization of authority</p> Signup and view all the answers

    Which phase in strategic management comes after the action phase?

    <p>Review phase</p> Signup and view all the answers

    What is the primary purpose of dynamic pricing in sales strategies?

    <p>To adjust prices based on demand and timing</p> Signup and view all the answers

    Which pricing strategy involves initially setting low prices to attract a large customer base?

    <p>Penetration Pricing</p> Signup and view all the answers

    What distinguishes ticket brokers from ticket scalpers?

    <p>Ticket brokers operate within legal boundaries for resale</p> Signup and view all the answers

    What legal consideration is crucial when managing sponsorship contracts in sports?

    <p>Contract Law governing binding agreements</p> Signup and view all the answers

    What does the Americans with Disabilities Act (ADA) require of venues?

    <p>Accessibility accommodations for individuals with disabilities</p> Signup and view all the answers

    How do antitrust laws impact professional sports leagues?

    <p>By preventing excessive control over the market</p> Signup and view all the answers

    Which of the following is NOT a step in the sales process?

    <p>Negotiating Pitch</p> Signup and view all the answers

    What role do labor unions play in sports and entertainment?

    <p>They negotiate better pay and working conditions for workers</p> Signup and view all the answers

    What type of contract governs the agreement between an event organizer and a venue provider?

    <p>Event Management Contract</p> Signup and view all the answers

    What is one of the primary goals of public relations in sports and entertainment?

    <p>Enhancing the organization’s image and reputation</p> Signup and view all the answers

    Which law ensures equal opportunities for male and female athletes in educational institutions?

    <p>Title IX</p> Signup and view all the answers

    What is one outcome of implementing sustainability regulations in sports venues?

    <p>Improved waste management and energy use</p> Signup and view all the answers

    Which of the following factors does NOT influence the determination of ticket prices?

    <p>Suggestions from general managers</p> Signup and view all the answers

    What legal area do antitrust laws primarily address in the context of sports?

    <p>Market competition and fair practices</p> Signup and view all the answers

    Study Notes

    Sports and Entertainment Marketing/Strategic Marketing

    • Marketing's Role: Drives consumer engagement, generates revenue (tickets, sponsorships, merchandise), and promotes brand awareness and loyalty. It's crucial for creating memorable experiences.

    Marketing Functions

    • Product/Service Management: Develops and manages products (events, merchandise).
    • Pricing: Determines product value based on demand, competition, and costs.
    • Distribution (Place): Ensures products reach the target audience via different channels.
    • Promotion: Includes advertising, PR, and sales strategies to inform and persuade.
    • Selling: Direct customer interaction to sell tickets, merchandise, etc.
    • Marketing Information Management: Collects and analyzes data for informed decisions.
    • Financing: Secures resources for marketing efforts and operations.

    Market Research Project Steps

    • Identify the Problem
    • Research Design
    • Data Collection
    • Data Analysis
    • Reporting

    Challenges in Sports/Entertainment Marketing

    • High Competition: Many entertainment options exist.
    • Fan Loyalty: Building long-term relationships with fans is crucial.
    • Economic Factors: Shifting consumer behavior due to economic changes.
    • Seasonality: Sports seasons and events influence consumer decisions.
    • Legal/Regulatory Issues: Ensuring compliance with relevant laws and regulations is vital.

    The Four Ps

    • Product: Events, teams, or performers.
    • Price: Ticket pricing, packages, value-based pricing.
    • Place: Locations (stadiums, theaters), distribution channels (online, apps).
    • Promotion: Advertising campaigns, social media, sponsorships.

    Marketing Mix

    • Product: Focuses on the event or experience.
    • Price: Influenced by demand and exclusivity.
    • Place: Distribution through channels.
    • Promotion: Tailored campaigns and media strategies.

    Pricing Strategies

    • Penetration Pricing: Low initial prices to attract more customers.
    • Skimming Pricing: High initial prices for premium items.
    • Psychological Pricing: Pricing calculated to influence consumer perception.
    • Competition-Based Pricing: Setting prices based on competitors.

    Markup Calculation

    • Markup Formula: [(Selling Price – Cost Price) / Cost Price] * 100. Used to determine the profit margin on tickets or merchandise.

    Ticket Sales Policies

    • Dynamic Pricing: Adjusting ticket prices based on demand.
    • Discounts: Season tickets, promotions, and VIP packages.

    Market Segmentation

    • Demographic: Age, gender, income.
    • Geographic: Based on location.
    • Psychographic: Interests, values, lifestyle.
    • Behavioral: Purchasing patterns and product usage.

    Branding Strategies

    • Emotional Connections: Logos, mascots, and a strong team identity.
    • Sponsorships: Enhance visibility, create awareness.
    • Media Partnerships: Broaden exposure.

    Product Lines

    • Sports: Merchandise, tickets, fan experiences.
    • Entertainment: Concerts, films, streaming content.

    Promotion Rationale

    • Build Awareness: Attract new audiences.
    • Attract New Audiences: And retain existing ones.
    • Increase Revenue and Audience Engagement.

    Advertising Technology

    • Personalization: Targeting ads using data insights.
    • Social Media Campaigns: Broad audience engagement.
    • Advanced Analytics: Real-time decision-making.

    Advertising Forms

    • Print: Magazines, flyers, posters.
    • Broadcast: TV, radio, streaming ads.
    • Specialty: Event signage, branded merchandise.
    • Social Media: Digital ads, influencer marketing.

    Demographic & Geographic Considerations

    • Age, income, and location impact event planning and product design. Marketing must be tailored to specific preferences.

    Marketing Concept

    • Customer satisfaction and needs. Targeted marketing efforts.

    Buyer Behavior Understanding

    • Design products and strategies based on consumer preferences. Maximizes satisfaction levels.

    Market Information Collection

    • Surveys, Focus Groups, Customer Feedback
    • Social Media Listening, Data Analytics

    Customer Service Importance

    • Builds loyalty and enhances the customer experience through repeat business and positive word-of-mouth.
    • Establishes service culture via commitments at all customer touch-points.

    Travel and Tourism Role

    • Events drive tourism. Local economic benefits.

    Marketing Plan Components

    • Executive Summary
    • Market Research
    • Objectives
    • Strategies
    • Budget
    • Evaluation

    Product Mix, Extension, & Enhancement

    • Product Mix: Variety of products offered.
    • Product Extension: Adding new variations.
    • Product Enhancement: Improving existing ones.

    Product Mix Components

    • Variety, quality, design, and branding of product offerings.

    High Event Costs

    • Factors: Talent, venue, marketing, security, operations.

    Customizing

    • Tailoring products or experiences to individual preferences.

    Baby Boomer Financial Impact

    • Significant consumers in sports, entertainment. Their spending patterns affect attendance and sales.

    Product Life Cycle Stages

    • Introduction, Growth, Maturity, Decline. Marketing strategies change in each stage of product life.

    Product Positioning

    • Strategically placing a product to highlight its unique benefits.

    Facility and Event Management

    • Location Requirements: Accessibility, size, infrastructure, target audience, and regulatory compliance. Consider safety, parking, transportation, and the surrounding environment.
    • Facility Operating Procedures: Staffing, security, scheduling, maintenance, safety protocols.
    • Facility Financing: Public funding, private investment, sponsorships, bonds, event revenue.
    • Support Activities: Concessions, security, guest services, janitorial, event staffing.
    • Safety Principles: Risk management, crowd control, emergency protocols, facility inspections.
    • Risk Management: Prevention procedures and preparation, safety measures, insurance, evacuation plans, and emergency response teams.
    • Event Triangle: Event, attendees, and sponsors; all are crucial for successful events
    • Event Possibilities: Sports (tournaments, charity events), Entertainment (concerts, festivals).
    • Marketing/Sales Techniques: Pre-event promotions (discounts, earlybird), during-event engagement (social media, live streaming), and post-event follow-up (surveys, thank-you notes).
    • Sponsorship Role: Provides financial backing and branding opportunities. Includes activation campaigns, logo placements, and exclusive partnerships.
    • Venue Selection Criteria: Size, location, accessibility, cost, amenities, VIP and media facilities.
    • Event Planning Process: Goals, budget, timeline, venue, vendors, marketing strategy, and risk management.
    • Event Budget Development: Includes costs for venue, catering, entertainment, marketing, security, and staffing.
    • Post-Event Follow-up: Thank-you notes, feedback collection, and relationship building for future events.
    • Event Evaluation: Analyzing feedback, attendance, financial performance, opportunities for improvement.
    • Factors Affecting Attendance: Timing, location, ticket prices, weather, and competing events.
    • Concessions Sales Policies: Variety, pricing strategies, and discounts during events.
    • Budget Importance: Ensuring financial resources are allocated effectively, controlling costs, and maximizing revenue.
    • Major Event Management: Strategic planning, coordinated teams, resources, clear communication.
    • Economic Utility Types: Form, time, place, and possession utilities.
    • Factors of Production: Land, labor, capital, entrepreneurship.
    • Universities' Revenue Generation: Hosting concerts, sporting events, conferences.
    • Organizational Structures: Hierarchical, flat, matrix, team-based.
    • Shoulder Period Event Value: Improves foot traffic and revenue.
    • Entertainment Technology Trends: Virtual reality, augmented reality, live streaming.
    • Sports/Entertainment Planning Development Phase: Research, goal setting, budget creation, operational planning.
    • Entertainment Event Objectives: Clear guidelines and measurable goals are vital for success.
    • Industry Mission: Provide quality entertainment, increase revenue, engagement, and fan loyalty.
    • Risk Categories & Management: Financial, operational, reputational, and strategic risks, and avoidance, reduction, transfer, or acceptance strategies.

    Human Resource Management (HRM)

    • HR Functions: Recruitment, training, employee relations, benefits, payroll, legal compliance.
    • Personnel Needs Assessment: Evaluate staffing needs for security, event coordination, and customer service.
    • Job Descriptions & Responsibility Separation: Ensures clear roles, accountability, and efficiency.
    • Recruiting & Retention: Identifying, attracting, and hiring successful candidates, and strategies to keep them.
    • General Managers (GMs): Responsible for overall management of a professional team (performance, player acquisitions, trades). Oversee operations and work with coaches.
    • Scouts, Agents, and Managers: Scouts identify talent, agents negotiate contracts, and managers handle day-to-day operations.

    Compensation, Benfits & Promotion

    • Criteria: Market value, performance, experience, industry standards.
    • Policies: Pay structure, benefits (insurance, retirement), promotion path.
    • HR Department Functions: Planning/Staffing, Presentation Management, Compensation/Benefits, Employee Relations
    • Continuous Professional Development: Training programmes, workshops, certifications help in skill improvement, industry updates, and career progression.

    Rules of Conduct

    • Workplace policies: Punctuality, behavior, communication, performance expectations, legal compliance.

    SWOT, Benchmarking & Scenario Building

    • SWOT Analysis: Identifies strengths, weaknesses, opportunities, and threats.
    • Benchmarking: Comparing performance to competitors and industry standards.
    • Scenario Building: Planning for various possible outcomes.

    Fringe Benefits

    • Examples: Health insurance, paid time off, retirement, performance bonuses, event tickets, and professional development.

    Job Orientation (Onboarding)

    • Introduction to company culture. Clear expectations and better integration.

    Performance Evaluation

    • Regular assessments evaluate productivity, achievements, and areas for improvement. Constructive feedback is important for motivation and development.

    Diversity

    • Embrace diverse backgrounds. This fosters innovation, inclusion, and improves satisfaction.

    Employee Recruitment Strategies

    • Targeted job postings, networking, internships, recruitment agencies, career fairs. Target specific sports/entertainment fields

    HRM Activities

    • Recruitment, training, compensation, benefits administration, employee relations, and performance management.

    Promotion, Advertising, and Sponsorship

    • Collegiate Athletics: Organized athletics within universities.
    • Amateur Sports: Non-professional sports.
    • Professional Sports: Elite-level sports for professional athletes.
    • Sports Camps: Camps for skill development and training.
    • Sponsorships vs. Endorsements: Sponsorships provide financial backing and branding opportunities, whereas endorsements involve athletes promoting products.
    • Industry Segmentation: Athletes, teams, venues, media, broadcasters, advertisers, sponsors, organizations.
    • Industry Trends: Global expansion, digital engagement, eSports, live-streaming.
    • Promotional Goals: Increase awareness, attract new audiences, and foster loyalty.
    • Promotional Elements: Advertising, sales promotion, public relations, and personal selling.

    Promotional Plan Development

    • Define objectives, identify target audiences, select promotional tools, allocate budgets, create timelines, measure effectiveness.

    Licensing

    • Royalties & Licensed Products: Payments for using intellectual property. Merchandise produced under a licensing agreement.
    • Licensing Types: Exclusive, non-exclusive, and sub-licensing.
    • Licensing Process and terms & agreements.

    Sports Governance

    • Governing Bodies: Examples of governance bodies for sport (FIFA, NFL) to establish rules, regulations, policies.
    • NCAA, NAIA, and NJCAA Role: Oversee college athletics, ensuring fairness, and compliance with rules in regards to eligibility and funding.
    • Managerial Role: Oversee collegiate athletics, establish and enforce relevant regulations.

    Careers in Sports & Entertainment

    • Career Opportunities: Event coordinator, sports marketing director, trainers, sports agents, venue managers, public relations, content creation.
    • Required Skills: Strong communication, leadership, organizational, marketing, and sales skills.
    • Education/Training: Bachelor's degrees in sports management, business, marketing, related fields. Internships and relevant certifications.
    • Career Levels: Entry-level, mid-level, senior-level.
    • Career Portfolio Importance: To showcase relevant experiences, training and qualifications.

    Information Technology & Research

    • Technology in Operations Management: Streamlining, optimizing resource allocation, inventory tracking. Software examples include scheduling, inventory management, performance analysis.
    • Management Information Systems (MIS) Evolution: From simple data storage to complex systems incorporating artificial intelligence.
    • MIS Components: Hardware, software, data, people, and processes.
    • Data-driven Decisions: Improving marketing strategies, reducing risk, and maximizing accuracy.

    Planning and Strategic Management

    • Planning Process Steps: Analyze current situation, set goals, identify strategies, implement, evaluate, adjust.
    • Strategic Tools: SWOT analysis, PEST analysis, SMART goals.
    • Advantages and Risks of Strategic Management.
    • Change Process Steps: Establishing urgency, forming coalitions, etc.
    • Enlightened Leadership Characteristics: Open-mindedness, empowerment, ethical, inclusive.

    Basic Functions of Management

    • Management Functions: Planning, organizing, implementing, and controlling.
    • Delegation of Authority: Defining tasks, selecting the right person, granting authority, monitoring progress, evaluating performance.
    • Implementing Function: Executing plans, allocating resources, coordinating activities, monitoring and adjusting.
    • Management Control Process: Setting standards, measuring performance, comparing to standards, taking corrective action.

    Economic Implications

    • Economic Impacts (Local, Regional/National, International):
    • Factors: GDP, employment rates, consumer spending.
    • For-Profit vs. Not-For-Profit: Advantages/Disadvantages: For-profit (flexibility, revenue generation) vs. Not-for-profit (tax exemptions, community focus)
    • Revenue Sources: Ticket sales, sponsorships, broadcast rights, merchandise, concessions, licensing.

    Risk & Risk Management

    • Risk Definition & Categories: Potential for financial or operational harm. Includes financial, operational, legal, and reputational risk.
    • Risk Management Strategies: Avoidance, reduction, retention, transfer.

    Industry Structure & Marketing Decisions

    • Industry Subdivisions: Sports, entertainment, media, licensing, venue management, event management, talent agencies.
    • Marketing Decisions: Aligning with industry trends, customer preferences, and competitor behavior for competitive advantage.

    Travel and Tourism Role

    • Tourism Impacts: Driving local economies through the attraction of out-of-town visitors and supporting local businesses.

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    Description

    This quiz explores key concepts and roles of marketing within the sports and entertainment industry. Dive into important functions such as market research, pricing strategies, and management control processes. Test your knowledge on how marketing adapts to consumer behavior and economic changes.

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