KRLS 105 MIDTERM 2 QUESTIONS & ANSWERS
What is sport management and marketing agency - Answer -business that acts on
behalf of an entity (client) involved in sport industry
What can a client be - Answer --person
-corporate brand
-idea
-concept
-property
What are in house groups - Answer -it is when the marketing function is a department
within the organization. they function as gate keepers and they are their own client.
-ex. red bull does their own marketing
True or false
Large organizations perform all functions while some other agencies only perform a few
- Answer -true
What are the four stakeholder groups - Answer --talent
-media companies
-properties
-brands
What are the agency functions - Answer --strategic planning and management
-sponsorship and licensing solicitation
-event creation
-contract negotiation
-marketing activation
-community and philanthropic activation
-content development
-financial planning
-research and evaluation
What is entitlement - Answer -it is what you get in return
Describe strategic planning and management - Answer -trying to find good
endorsements to advertise the product and that are a good fit to what you are selling
-ex. well known athlete advertising workout gear brand
Explain sponsorship and management - Answer -having personal appearances that are
done a smaller scales
ex. having a lesser known athlete going to a car dealership and holding a signing
, Describe event creation - Answer -organizations will create events where they get lots
of people to come and bring tourism
Describe contract negotiation - Answer -some players may negotiate themselves with
sometimes it will be others that do the negotiating for them
Describe marketing activation - Answer -it is usually in the form of hospitality
-ex. getting swag bags from many different brands at an event
What are grassroots programs - Answer -the start of something to help a community,
usually for publicity
-ex. famous athlete who starts their own charity
Describe content development - Answer -if there is a good idea, there is usually a lot of
potential
What is the role of financial planning - Answer -deciding what to do with money and
figuring out where it goes. this is also where investments are dealt with
Describe research and evaluation - Answer -this is knowing what value to give on
sponsors or products. this is where values are issued
Describe full service agencies - Answer -they can provide everything and they serve all
4 groups in different ways
-there are many divisions within
-there can be conflicts of interest
Describe general agencies - Answer -they take an integrated approach to development
-potential to become full service
-arrange appearance fees
-corporate consulting
-it can be very expensive
they also use turnkey
-they do all the work for people
-this makes it very expensive
Describe specialty agencies - Answer -they only provide one category service
Who is Don Basely - Answer -he was a corporate lawyer in the hockey industry
-with his firm, he negotiated a players contract because he was a layer and was good at
negotiations
-he began representing 1/3 of the players in the NHL
-he is an example of a specialty agency because all he did was negotiate contracts,
nothing else
What is sport management and marketing agency - Answer -business that acts on
behalf of an entity (client) involved in sport industry
What can a client be - Answer --person
-corporate brand
-idea
-concept
-property
What are in house groups - Answer -it is when the marketing function is a department
within the organization. they function as gate keepers and they are their own client.
-ex. red bull does their own marketing
True or false
Large organizations perform all functions while some other agencies only perform a few
- Answer -true
What are the four stakeholder groups - Answer --talent
-media companies
-properties
-brands
What are the agency functions - Answer --strategic planning and management
-sponsorship and licensing solicitation
-event creation
-contract negotiation
-marketing activation
-community and philanthropic activation
-content development
-financial planning
-research and evaluation
What is entitlement - Answer -it is what you get in return
Describe strategic planning and management - Answer -trying to find good
endorsements to advertise the product and that are a good fit to what you are selling
-ex. well known athlete advertising workout gear brand
Explain sponsorship and management - Answer -having personal appearances that are
done a smaller scales
ex. having a lesser known athlete going to a car dealership and holding a signing
, Describe event creation - Answer -organizations will create events where they get lots
of people to come and bring tourism
Describe contract negotiation - Answer -some players may negotiate themselves with
sometimes it will be others that do the negotiating for them
Describe marketing activation - Answer -it is usually in the form of hospitality
-ex. getting swag bags from many different brands at an event
What are grassroots programs - Answer -the start of something to help a community,
usually for publicity
-ex. famous athlete who starts their own charity
Describe content development - Answer -if there is a good idea, there is usually a lot of
potential
What is the role of financial planning - Answer -deciding what to do with money and
figuring out where it goes. this is also where investments are dealt with
Describe research and evaluation - Answer -this is knowing what value to give on
sponsors or products. this is where values are issued
Describe full service agencies - Answer -they can provide everything and they serve all
4 groups in different ways
-there are many divisions within
-there can be conflicts of interest
Describe general agencies - Answer -they take an integrated approach to development
-potential to become full service
-arrange appearance fees
-corporate consulting
-it can be very expensive
they also use turnkey
-they do all the work for people
-this makes it very expensive
Describe specialty agencies - Answer -they only provide one category service
Who is Don Basely - Answer -he was a corporate lawyer in the hockey industry
-with his firm, he negotiated a players contract because he was a layer and was good at
negotiations
-he began representing 1/3 of the players in the NHL
-he is an example of a specialty agency because all he did was negotiate contracts,
nothing else
