SEM Unit 1 & 2 Review

The 7 functions of mktg: distribution, pricing, promotion, product service mgmt, marketing information mgmt, selling

SEM stands for sports and entertainment management

The NHL’s Carolina Hurricanes strategy to offer payment plans to ticket buying customers is an example of distribution.

Fandom can help drive product sales.

The Astros selling mini season ticket plans is an example of marketing through sports

The thrill of your favorite team winning a championship is an intagible attribute

Without fandom, there would be less demand for many sports and entertainment products and services.

Cross Promotion is the convergence of two entertainment properties working together to market products or services.

Increases in merch. sales, growth of international sports shows that we will see growth continue in the SEM industry.

The increase in people watching sports is credited for the large growth by the sports and entertainment industry

The SEM industry is poised for continued growth

Fandom is a subculture of fans that support a specific team or celebrity

Disposable income is $$ leftover after your living expenses have been paid

Coca-Cola’s sponsorship of the Olympics is an example of the marketing of sports.

1992 was the first olympic games to be profitable.

An Audi vehicle making an appearance in the Iron Man is an example of product placement

Fan Engagement = relationship management strategy focused on interacting with the customer and creating brand loyalty

Events like the National Spelling Bee & 4th of July Hot Dog eating competition don't receive coverage from ESPN

There are more sports and ent. options available to both consumers as participants and as spectators than ever before.

Sports and entertainment products are non-perishable.

To elevate levels of fandom, sports & ent. business professionals to develop effective fan engagement strategies

The New York Yankees is the most valuable franchise in the world.

Fandom helps communities deal with major tragedies like natural disasters and other events.

The value of a professional sports franchise rarely increases over time.

Fans who go to extremes to show loyalty to their favorite team, athlete other celebrity are referred to as “super fans"

Market Information Management is gathering and using information about customer to improve business decision making

Phil Knight is the co-founder of Nike