Sport Promotion Flashcards
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| 3056729878 | Who did I say was the most important stakeholder in a company? | Manager | 0 | |
| 3056730356 | Competitive advantage is attained through the measurement of three types of behavior that are linked to value generations. What are the three behaviors? | - Loyalty - Cooperation - Advocacy | 1 | |
| 3056731472 | What are leading and lagging indicators? How do they connect to attitudes and behaviors? | - Leading Indicator: A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators are used to predict changes in the economy, but are not always accurate. - Lagging Indicators: A measurable economic factor that changes after the economy has already begun to follow a particular pattern or trend. | 2 | |
| 3056732305 | According to Marketo- What are the five stages of accountability? | - Denial - Fear - Confusion - Self-Promotion - Accountability | 3 | |
| 3056732813 | According to Marketo - what are the three things you should do to planning for marketing ROI? | - Establish targets and ROI estimates up-front - Designing programs to be measurable - Focusing on the decisions that will improve marketing | 4 | |
| 3056734125 | According to Marketo - where are the five areas where metrics go wrong? | - Vanity Metrics - Measuring what is easy - Focusing on quantity not quality - Activity, not results - Efficiency instead of effectiveness | 5 | |
| 3056734644 | In the study I conducted of management professionals and presented in class - what was the number one skill that marketers look for today in new graduates? | listening | 6 | |
| 3056737452 | According to Sargut and McGrath - Explain the key areas for mitigating risk. | - Limit or even eliminate the need for accurate predictions - Use decoupling or redundancy - Draw on storytelling and counterfactuals - Triangulate | 7 | |
| 3056738151 | McAfee and Brynjolfsson talk about how the big three Vs have triggered a revolution | Volume (The amount of data that is collected), Velocity (the speed of data creation), Variety (where we can retrieve this data is endless. Ex. Purchasing, GPS, personal, social media...) | 8 | |
| 3056738402 | Please apply Spradline's Problem Definition process. | - Establish the need for a solution (What is the basic need? What is the desired outcome? Who stands to benefit and why?) - Justify the need (Is the effort aligned with our strategy? What ate the desired benefits for the company? How will we measure them? How will we ensure that the solution is implemented) - Contextualize the Problem (What approaches have we tried? What have others tried? What are the internal and external constraints on implementing a solution? - Write the Problem Statement (Is the problem actually many problems? What requirements a solution meet? Which problem solvers should we engage? What information and language should the problem statement include? What do solvers need to submit? How will solutions be evaluated and success measured?) | 9 | |
| 3056738739 | According to Kahneman, Lovallow and Sibony - 3 questions that a decision-maker should ask themselves and how do they overcome these issues? | - Is there any reason to suspect motivated errors, or errors driven by the self-interest of the recommending team? - Have the people making the recommendation fallen in love with it? - Were there dissenting opinions within the recommending team? | 10 | |
| 3056740598 | According to Kahneman, Lovallow and Sibony - 5 questions that a decision-maker should ask those making a recommendation? | - Could the diagnosis of the situation be overly influenced by salient analogies? - Have credible alternatives been considered? - If you had to make this decision again in a year, what information would you want, and can you get more of it now? - Do you know where the numbers came from? - Can you see a halo effect? - Are the people making the recommendation overly attached to past decisions? | 11 | |
| 3056747371 | According to Kahneman, Lovallow and Sibony - 3 questions that a decision-maker should ask about the proposal? | - Is the base case overly optimistic? - Is the worst case bad enough? - Is the recommending team overly cautious? | 12 | |
| 3056748547 | As a manager, your job is about three core functions | - Allocate Resources - Mitigate Risk - Enhance the probability of success | 13 | |
| 3056748950 | What are Pfeiffer & Sutton's four principles? | - Demand Evidence (When ever someone makes a seemingly compelling claim, ask for supporting data) Demand Logic (Parse the logic behind evidence presented to you, looking for faulty cause-and-effect reasoning) - Encourage Experimentation (Invite managers to conduct small experiments to test the viability of proposed strategies) - Professional Development (When mangers constantly expand their knowledge, they aquire increasingly more reliable evidence with which to make decisions | 14 | |
| 3056749836 | Pfeffer and Sutton identify seven reasons why is EBM NOT always used. Which is NOT one of these seven reasons? | - There is too much evidence - There is not enough good evidence - The side effects outweigh the cure - The evidence does not quite apply - People are trying to mislead you - You are trying to mislead you - Stories are more persuasive | 15 | |
| 3056750845 | Pfeiffer and Sutton identified six questions to ask yourself to see if you are part of the problem. Identify these six and explain each. | - Stop treating old ideas as if they were brand-new - Be suspicious of "breakthrough" studies and ideas - Celebrate and develop collective brilliance - Emphasize drawbacks as well as virtues - Use success (and failure) stories to illustrate sound practices,but not in place of a valid research method - Adopt a neutral stance toward ideologies and theories | 16 | |
| 3056752794 | Pfeiffer and Sutton identified four steps to becoming an evidence based manager - please explain. | - Demand Evidence - Examine Logic - Treat the organization like an unfinished prototype - Embrace the attitude of wisdom | 17 | |
| 3056753289 | define triangulation | Triangulation refers to the use of more than one approach to the investigation of a research question in order to enhance confidence and credibility in your findings. | 18 | |
| 3056753702 | What are the six benefits of a cause and effect diagram? | - Helps determine the root causes of a problem or quality characteristic using a structured approach. - Encourages group participation and utilizes group knowledge of the process. - Uses an orderly, easy-to-read format to diagram cause-and-effect relationships. - Indicates possible causes of variation in a process. - Increases knowledge of the process by helping everyone to learn more about the factors at work and how they relate. - Identifies areas where data should be collected for further study. | 19 | |
| 3056755069 | The authors argue that there are some core issues ("marketing myopia") associated with sport marketing today. | - A focus on producing and selling goods and services rather than identifying and satisfying the needs and want of consumers and their markets - The belief that winning absolves all other sins - Confusion between promotions and marketing ignorance of competition inside and outside sport - A short sided focus on quick-return price hikes or 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 | 20 | |
| 3056756434 | The authors argued that sport product is unique because of a range of dimensions. | - 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 control beyond marketer's hands | 21 | |
| 3056757490 | The author argues that socialization is critical to sport marketing. Socialization was defined as: | The process by which people assimilate and develop the skills, knowledge, attitudes and other "equipment" necessary to perform various social roles | 22 | |
| 3056757877 | Affective involvement includes attitudes, feeling and emotions | True | 23 | |
| 3056758066 | Commitment in the context of sport marketing is defined by the authors as: | The frequency, duration, and intensity of involvement in a sport, or the willingness to expend money, time, and energy in a pattern of sport involvement | 24 | |
| 3056758692 | The authors argued there are two major categories that influence consumer socialization, involvement and commitment in sport. These are: | Environmental & Individual | 25 | |
| 3056758693 | The authors defined a seven step process of decision making. Which one of these is NOT a step: | - Need recognition - Awareness or information search - Evaluation of choices - Purchase decision - Sport Experience - Evaluation of experience - Post Evaluation behavior | 26 | |
| 3056760084 | "Accessibility" was defined as a critical criteria for market segmentation because: | Accessing the groups of consumers individually without upsetting marketing efforts aimed at other segments. Determines size of campaigns (usually broad-based) | 27 | |
| 3056760463 | Segmentation was clustered in four major bases. Which one of these is NOT one of these bases: | State of Being, State of Mind, Product Benefits, Product Usage | 28 | |
| 3056761008 | The 80/20 rule is: | A rule of thumb that states that 80% of outcomes can be attributed to 20% of the causes for a given event. | 29 | |
| 3056761374 | The Sport Product is defined by the authors as: | The sport product is any bundle or combination of qualities, processes, and capabilities that a buyer expects will satisfy wants and needs. | 30 | |
| 3056761687 | Brand equity was defined as including both assets and liabilities | True, a set of assets and liabilities linked to a brand, its name and symbol, that add to or subtract from the value provided by a product or service | 31 | |
| 3056761995 | Brand equity in sport is important in sport for a variety of reasons. Which one is NOT a reason identified by the authors: | - Less drastic revenue declines when the team loses - Ability to charge price premiums - More corporate interest - Licensing and merchandising opportunities | 32 | |
| 3056762665 | Brand association is key in sponsorship because: | it relates to the fan, a sense of identification that sponsors can attach themselves to | 33 | |
| 3066883620 | I argued that a perceptual map is a powerful tool because it: | allows the aggregation of multiple data points into a compelling story | 34 | |
| 3066893844 | In argued that price/cost is a weak dimension for a perceptual map because: | anyone can find the cost/price of something, and that's always a way for someone to see if something is cheaper, but also anyone in middle school can figure that out | 35 | |
| 3066919875 | In class I argued I don't agree with the textbook's focus on the sport consumer because: | the sport consumer can not be defined | 36 | |
| 3066938487 | One of the biggest challenges of cause and effect in management is there is a ______ between the cause and the effect | relationship | 37 | |
| 3066946399 | What is NOT advantages of secondary research? | -Already in existence, hence quick - Already 'paid for', hence cost-effective - Often available in abundance....but quality and relevance vary | 38 | |
| 3066970966 | Which of the following is NOT an example of internal secondary market research may include: | -Numerical records (often derived from sales accounting systems) -Free form or text/number mixes (market research specific- systematic mktg intelligence, old research reports)(other marketing data - CRM systems, sales reports, etc.) | 39 | |
| 3066990768 | Identify and explain the six major advantages of secondary research | -can help to clarify or refine the issue or problem -might provide solution to research problem -might provide primary data research alternatives -can alert the researcher to other problems -provides background information, enhancing research credibility -may provide the sample frame | 40 | |
| 3067010149 | There are five major questions you should ask yourself about secondary market research? | -who collected the data? -what was the original study's purpose? -what was collected ad how? -when was is collected? -is it consistent with other data? | 41 | |
| 3067026436 | What are the four major limitations of market research? | -lack of availability -not relevant -insufficient -inaccurate information: always ask yourself | 42 | |
| 3067039739 | Why is the "who" so important when evaluating secondary research? | -Sponsored/paid for/publicized the research (motives matter...why was the research done) -Conducted the research (expert on familiar ground, novice out of their depth, established reputation, newcomer or...) -Participated in the study (good or bad sample, bad sample will often be nonredeemable, remember: it's the obtained sample that matters) | 43 | |
| 3067071095 | Why is the "how" so important when evaluating secondary research? | -Is the methodology available? -How much information is available on method? -Note: 'secondary' sources of secondary data can be particularly problematic | 44 | |
| 3067095814 | Please defined each and explain the difference between descriptive, diagnostic, and predictive evidence? | -Descriptive: gathering and presenting statements of fact (sales trends, wants and needs, consumer behavior) -Diagnostic: Explanation of data or actions (what was the impact of our new promotion? what is happening?) -Predictive: specification of how to use descriptive and diagnostic evidence to predict the results of a planned marketing decision- use research to provide evidence to predict attitudes and behaviors | 45 | |
| 3067130608 | The story I told in class about the intern who was ordering pucks for our client as Esso is and example of: | Managers want independent, driven new graduates | 46 | |
| 3067166004 | According to Sargut and McGrath- What is complexity vs. complicated? | -Difference between complicated and complex systems is that with the former, one can usually predict the outcomes by knowing the starting conditions. In a complex system, the same starting conditions can produce different outcomes, depending on the interaction of the elements in the system | 47 |
