Chapter 3 Sport and Entertainment Industries

What is an industry? A group of organizations involved in producing or handling the same type of product or service. Industries can be further divided into smaller subdivisions known as industry subdivisions

-A group of organizations involved in producing or handling the same product, group of products, or type of services is called a(n) ____________________.

Industry Standards industry standards  the guidelines and goals set for different entertainment industries industry norm  the average expectation within an industry

____________________ are the average expectations within an industry.

What is a trend? A trend is the latest demand to consumer response

Marketing Decisions for an Industry.  What three things are marketing decisions based on?  Standards  Norms  Trends

Successful Speaking Successful speakers have  a message that is interesting repeatedly  well written speeches  excellent communication skills  strong promotional campaigns  an agent

The Process ghostwriter  a writer who takes someone’s experiences and ideas and commits them to paper on behalf of that person

A writer who listens to an author’s story and then commits it to paper for a fee is called a(n) ____________________.

 Royalty  a percent of the sale price of each book that is paid to the author literary agent  plans the marketing and promotional campaign for an author  compensation is a percent of book sales

What is in a camp? Camps cover an extended period of time. They provide athletes with a variety of skills and activities to strengthen ability. Usually high profile celebrities or athletes are associated with the camps. This helps attract customers. Every year parents make sizable expenditures to send their children to sports camps and clinics.

-An athletic training session that extends over a period of time and concentrates on a variety of skills is a(n) _________________________.

Sponsorship- help cover overhead Generally, a sports camp sponsor can expect the following: visibility and recognition of sponsorship advertising space in the camp’s publications sponsor marketing materials on display at camp potential product sales at camp

Clinics clinics  Focus on single skills  shorter duration  limited enrollment  help capture a larger fan base for the sport

Impacts What events can cause an impact to the economy of a city? What attractions can cause an impact to the economy of a city? In what ways is the local economy impacted?

-The total of new spending resulting from an attraction or event is referred to as ___________________________________.

Niche Travel Travel planned around special interests. What type of special interests could travel be planned around.

-Recreational travel or tours planned around a special interest are called _________________________.

Vocab. joint venture  when two groups (including businesses and governments) share the costs and profits of a business infrastructure  water, sewer, roadways, and all other underlying framework

-____________________ is the underlying framework supporting economic development, including water, sewers, and roadways.

Globalization What is globalization? International economic relationships with goods and services that flow quickly around the world.

The phenomenon of international economic relationships with goods and services flowing quickly around the world is called ____________________.