LESSON 11 - sport management & marketing agencies Flashcards
what term is used for a business that acts on behalf of a sport entity involved in the sport industry ?
sport management and marketing agency
name some functions of sport management and marketing agencies :
- 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
what are some practical sidebars :
- building a legacy
- impact of name, image, and likeness on sport ahem ethics
name some types of sport management and marketing agencies :
- 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
name some full-service agencies :
- strategic planning and sponsorship solicitation
- event creation and contract negation
- marketing activation, research, and measurement
- tend to have multiple divisions
TRUE OR FALSE
employees cover all aspects of clients management and marketing needs (full-service agencies)
TRUE
name the full-service agency : WME/IMG
- history
- client representation
- event and venue management
- global brand partnership
- media and digital
- future of endeavor
what are general agencies ?
- integrated approach to development of client programs
- business components of 16 W marketing
describe the three points of the business :
- athlete, coach, and broadcaster representation
- corporate consulting and property marketing
- hospitality and event management
how many special agencies are there ?
3
what are the three special agencies ?
- excel sports management
- bespoke sports and entertainment
- Joyce Julius and associates
describe “excel sports management” :
talent representation
describe “bespoke sports & entertainment” :
corporate brand consulting
describe “Joyce Julius & associates” :
measures and evaluates branding in media
what are the 4 in-house groups points :
- 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
what is an example of “work with other units of the corporation” in-house group :
NBA content
what are the four careers in sport management and marketing agencies :
- diverse and challenging
- entry requirements
- educational background
- required skills
wha are some essential skills for sport agency personnel :
- organizational
- technical
- people
list some people skills :
- people orientated
- listening skills
- ability to network
- presentation and public speaking
- negotiation skills
list some organizational skills :
- strategic planning capabilities
- supervisory skills
- ability to design and manage research projects
- operational layout and management skills
list some technical skills :
- 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
what are some challenges facing agencies ?
- uncertainty in client base
- in-house versus outsourcing
- conflicts of interest
- mergers and acquisitions
- labor unrest
- major economic challenges in the marketplace
what is an example of major economic challenges in the marketplace ?
cancellation of postponement of major sporting events because of the global spread of covid-19
name some practical applications :
critical thinking in agency activities & ethics in agencies and revenue sources : advertising by alcoholic spirits brands, CBD, sports betting
