Chapter 10 Flashcards
Sport management and marketing agency:
- a business that acts on behalf of an entity (the client) involved in the sport industry
- person, corporate brand, media company, property (team, venue, etc.) or concept
Early history of agencies:
-
Arrival of IMG:
-
Many sport agencies now dealing in complementary lifestyle activities such as _____, ______, and _____.
- fashion
- entertainment
- leisure
In-house groups:
-
Some agencies perform only one function (or a few) for 4 key stakeholder groups:
- talent
- properties
- brands
- media companies
Agency functions:
- strategic planning and management
- sponsorship and licensing solicitation (entitlement)
- event creation, management and marketing (inventory)
- contract negotiation
- marketing activation
- community and philanthropic activation (grassroots programs)
- content development
- financial planning
- research and eval (ROI)
Thousands of agencies and in-house groups that vary in…
- size
- budget
- type of clientele
- scope of services
Types of sport management and marketing agencies include:
- full service
- general
- specialty
Table 10.2
-
Full-services agencies have full range of services:
- strategic planning, sponsorship solicitation
- event management, contract negotiation
- marketing activation, research and evaluation
Full service agencies tend to have _____ ____.
multiple divisions
Full service agency: IMG:
- history
- client management
- event and venue management
- global brand partnerships
- media and digital
General agencies have _____ approach to development of client programs.
integrated
Business components of 16W marketing:
- athlete, coach, and broadcaster representation
- corporate consulting and property marketing
- hospitality and event management (turnkey)
Specialty agencies:
- one category of service
- ex. Millsport, Joyce Julius & Associates
In-house groups:
- departments that perform sport functions on behalf of the parent company
- have only one client: themselves
- function as gatekeepers in reviewing opportunities presented to them
- work with other units of corporation
Careers in sport management and marketing agencies:
- diverse and challenging
- entry requirements
- educational backgrounds
- required skills
Major challenges facing agencies:
- uncertainty in client base
- in-house vs. outsourcing
- conflicts of interest
- mergers and acquisitions
- labour unrest
Major _____ challenges in the marketplace.
economic
Ethics in agencies and revenue sources:
- advertising by spirits brands
- unhealthy products
