Sports Marketing Mid Term

Sports Marketing

All activities are designed to meet the wants and needs of sports consumers through an exchange process

Two Major Thrusts of Sports Marketing

Marketing of sports products to consumers and the marketing of sports and non sports products through sport.

Marketing Myopia

Focus on producing and selling goods rather than on identifying and satisfying the needs and wants of consumers and their markets

Identify the changes in the Sports Marketing Profession

Sports marketing pioneers paving the way, improvements in sales training and methodology, institutionalized sports marketing training and knowledge, broadening diversity

Discuss the sports product 

Any bundle or combination of qualities, processes, and capabilities (goods, services, ideas) that a sports consumer expects will deliver desired satisfaction.

Discuss why the sports product is unique

Strong personal and emotional identification. Simultaneous production and consumption, dependence on social facilitation (less than 4% of people attend sporting events alone). Inconsistency and unpredictability. Core product beyond marketers hands.   

Discuss why the sports marketplace is unique 

You depend on your competition to stay relevant and afloat. Many sports consumers believe they are experts, demand tends to fluctuate widely, each sport is seasonal, sports has a universal appeal and pervades all elements of life. Sports play a role in religion, politics, and social issues.

Discuss why sports finance is unique 

Indirect revenues are frequently greater than direct operating revenues. Sponsorships

Discuss why sports promotion is unique

Free promotion opportunities through sport media publicity, athletes are viewed as celebrities now,

The Five P’s of Sports Marketing

Product, Price, Promotion, Place, Public Relation

Sports Market Research

Provision of insight and information on sports fan culled from a variety of data sources

Syndicated Research

Data that has been collected, organized, and repackaged for consumption

Examples of Syndicated Research

US census, demographic profiling, audiences measurements, broadcast exposure

Custom Research

Uses custom methodology (primary research) and collection of data for use by a specific source, produced primary data

Examples of Custom Research

Surveys, Interviews, focus groups, ethnographies

Elements that sports marketers must consider when Performing the Right Research

Must identify the business objectives at hand, let the objective define the methodology

Market Segmentation

The process of dividing a large, heterogeneous market into more homogenous groups of people who have similar wants, needs or demographic profiles, to whom a product may be targeted.