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Intro to Kin Management 2298 > LESSON 11 - sport management & marketing agencies > Flashcards

LESSON 11 - sport management & marketing agencies Flashcards

1
Q

what term is used for a business that acts on behalf of a sport entity involved in the sport industry ?

A

sport management and marketing agency

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2
Q

name some functions of sport management and marketing agencies :

A
  • strategic planning and management
  • sponsorship and licensing
  • event creation
  • contract negotiation
  • marketing activation
  • content development
  • financial planning and brand/legacy building
  • research, insights and measurement
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3
Q

what are some practical sidebars :

A
  • building a legacy
  • impact of name, image, and likeness on sport ahem ethics
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4
Q

name some types of sport management and marketing agencies :

A
  • thousands of agencies and in-house groups
  • vary in size, budget, type of clientele, and scope of services
  • types include full service, general, and speciality
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5
Q

name some full-service agencies :

A
  • strategic planning and sponsorship solicitation
  • event creation and contract negation
  • marketing activation, research, and measurement
  • tend to have multiple divisions
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6
Q

TRUE OR FALSE

employees cover all aspects of clients management and marketing needs (full-service agencies)

A

TRUE

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7
Q

name the full-service agency : WME/IMG

A
  • history
  • client representation
  • event and venue management
  • global brand partnership
  • media and digital
  • future of endeavor
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8
Q

what are general agencies ?

A
  • integrated approach to development of client programs
  • business components of 16 W marketing
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9
Q

describe the three points of the business :

A
  • athlete, coach, and broadcaster representation
  • corporate consulting and property marketing
  • hospitality and event management
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10
Q

how many special agencies are there ?

A

3

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11
Q

what are the three special agencies ?

A
  • excel sports management
  • bespoke sports and entertainment
  • Joyce Julius and associates
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12
Q

describe “excel sports management” :

A

talent representation

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13
Q

describe “bespoke sports & entertainment” :

A

corporate brand consulting

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14
Q

describe “Joyce Julius & associates” :

A

measures and evaluates branding in media

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15
Q

what are the 4 in-house groups points :

A
  • 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
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16
Q

what is an example of “work with other units of the corporation” in-house group :

A

NBA content

17
Q

what are the four careers in sport management and marketing agencies :

A
  • diverse and challenging
  • entry requirements
  • educational background
  • required skills
18
Q

wha are some essential skills for sport agency personnel :

A
  • organizational
  • technical
  • people
19
Q

list some people skills :

A
  • people orientated
  • listening skills
  • ability to network
  • presentation and public speaking
  • negotiation skills
20
Q

list some organizational skills :

A
  • strategic planning capabilities
  • supervisory skills
  • ability to design and manage research projects
  • operational layout and management skills
21
Q

list some technical skills :

A
  • excellent written communication & social media engagement/awareness
  • budgeting, pricing, and forecasting knowledge
  • computer skills
  • comprehension of demographics, target marketing, and geocoding
  • knowledge of accounting and reporting
  • comprehension of marketing, promotions, pubic relations and sponsorship
22
Q

what are some challenges facing agencies ?

A
  • uncertainty in client base
  • in-house versus outsourcing
  • conflicts of interest
  • mergers and acquisitions
  • labor unrest
  • major economic challenges in the marketplace
23
Q

what is an example of major economic challenges in the marketplace ?

A

cancellation of postponement of major sporting events because of the global spread of covid-19

24
Q

name some practical applications :

A

critical thinking in agency activities & ethics in agencies and revenue sources : advertising by alcoholic spirits brands, CBD, sports betting

Intro to Kin Management 2298 (23 decks)

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