Deck 6: Analytics in Sport Marketing

Question 1

What is CRM in the sports context and give three examples of its use? ______________

Answer 1

CRM systems provide a comprehensive view of an organization's customer base via information technology systems, and allow organizations to engage with their customers effectively by sending the right message, to the right person, at the right time via the right platform. CRM could be used in increasing sales, building loyal fan base, understanding what customers want.

Question 2

In the eyes of sport marketers, all customers are the same as they represent a potential sale.

Answer 2

False

Question 3

Customer value is estimated as the difference between earnings per customer and cost of acquisition per customer.

Answer 3

True

Question 4

Customer earnings are calculated based on the average earnings per period and the length of relationship between the customer and the sport team which is known as customer lifetime.

Question 5

Explain the fan escalator and how data can be used to generate additional sales.

Question 6

Which of the following is not part of the customer value estimation formula?

A) reducing the acquisition cost
B) buying high end data lists
C) increasing sales to the customer
D) increasing the customer's lifetime.
E) all of the above are part of the customer value estimation formula

Question 7

Fan loyalty cannot be shown by sport analytics associated with ticket purchases.

Question 8

Replacing a customer costs over ten times more than servicing an existing customer.

Question 9

Sport organizations can use a fan propensity models to predict their fans' future behavior based on extensive information about the customers such as who they are, what they buy, and how they buy.

Question 10

Describe fan segmentation.

Question 11

Sport organizations can benefit from customer profiling in two-ways. What are they?

Question 12

Some of the most commonly used key metrics in evaluating marketing campaigns are the following except….

A) the number of leads and cost per lead
B) the number of wins (new customer) and cost of customer acquisition
C) customer lifetime value
D) incremental sales
E) all are key metrics

Question 13

Customer lifetime value (CLV) measures the value a customer will bring to an organization in the future.

Question 14

__________________ in the early 2000s prompted sport teams to realize that fans are willing to pay more for the tickets, at least for certain games.

Question 15

Some dynamic ticketing models use over 140 variables in helping to set ticket prices.

Question 16

The main goal of variable and dynamic ticket pricing strategies is to set optimal prices to maximize revenues.

Question 17

The data shows the National Guard was very successful in sponsoring NASCAR.

Question 18

A hit rate is a metric used by concessionaires to compare how many beers and hot dogs were sold versus how many people bought tickets that day.

Question 19

Framing the problem is a small part of the analysis process.

Question 20

An analyst is encouraged to present findings in a simple and fun manner.

Question 21

Archimedes solved King Heron's problem through weighing the crown against a pound of feathers.

Question 22

It is normally very easy to find a pattern among the variables in the data.