| A | B |
|---|
| promotion | any form of communication used to persuade people to buy products |
| vendors | sellers of products |
| product | a good or service that any for-profit industry sells to its customers |
| endorsement | approval or support of a product or idea, usually by a celebrity lending his/her image or name to a product |
| core product | main product |
| revenue | gross income |
| ticket scalpers | unauthorized ticket sellers who stand outside a game/concert and offer tickets at a higher price; they keep profits |
| piracy | the unauthorized use of an owner’s or creator’s copyrighted material |
| royalty | payment for material that has been copyrighted, or legally declared belonging to the owner |
| product tie-ins | use of ancillary products as promotional tools |
| cross-promotion | any form of communication through which one industry relies on another industry to promote its product |
| word-of-mouth marketing | chat room, user ratings, and online voting surveys use consumers to spread news about a product; can result in increased ticket sales |
| convergence | the overlapping of product promotion |
| synergy | combined action that occurs when products owned by one source promote the growth of related products |
| risks | unforeseen events and obstacles that can negatively affect business |
| risk management | strategy to offset business risks |
| consumer loyalty | when consumers are happy with a company’s product and become repeat customers |
| sponsorship | promotion of a company in association with a property (primarily in sports |
| virtual advertising | companies pay to have their logos digitally overlaid onto a billboard during a televised game |
| recreation marketing | The process of developing, promoting, and distributing products, or goods & services, to satisfy customers’ needs & wants through recreational entertainment. |
