Title: Describe the marketing concept as related to the sports, entertainment, and event industries.
Course: Sports, Entertainment, and Event Marketing > Section: Developing an Overview of Marketing

Description should include the goals of marketing, including

- identifying customers
- recognizing customer wants and needs
- satisfying diverse and changing customer wants and needs
- earning a return on investment (ROI) and managing spend (i.e., money allocated for marketing activities [e.g., costs]).

Process/Skill Questions:

- What role does the marketing mix play in the marketing concept?
- How does the marketing concept relate to profit?
- What is ROI? How does it affect the marketing concept?
- How does the marketing concept help customers? A business?
- Why is profit included as one of the basic elements of the marketing concept?
- What are components one must consider to evaluate spend?