Sport Marketing Flashcards
Unique characteristics of sport
demands unique approach to marketing, provides marketers with challenges and opportunities
Sport marketing definition
“all activities designed to meet the needs and wants of sport consumers through exchange processes”
Sport marketing
- marketing sports products and services directly to consumers
- marketing other consumer or industrial products and services through sport promotions
Differences between sport and traditional marketing
organizations must compete AND cooperate, sports consumers consider themselves experts due to strong personal identification, consumer demand for sport can fluctuate widely, sport is intangible, subjective and experiential, there is no sport inventory, sport is public consumed and consumer satisfaction is tied to social facilitation, the sport product is inconsistent and unpredictable, sport marketers have little control over core product and limited control over product extensions, sport is both a consumer and industrial product, sport has a universal appeal
Sport marketing markets:
products, services, entities
Developing sport marketing plan (4 P’s)
Product, price, place, promotion
- central to the sport marketing plan, manipulated by marketers strategic/tactical plans
Integrating other elements with 4 P’s for optimal success (10 Ps)
purpose, product, projecting the market, positioning, players, packaging, pricing, promotion, place, promise
Developing sport marketing plan step 1
identify the purpose of the sport marketing plan
Developing sport marketing plan step 2
analyze the sport product - dynamic and complex nature of the sport product, dimensions of the sport product, core product, product extensions
Developing sport marketing plan step 3
project the market climate - influence of market conditions, assessing the sport climate: examining internal and external factors
Developing sport marketing plan step 4
position the sport product - differentiating the product from competing products, creating a distinctive image of the product, elements of effective communication practices
Branding
using a name, design or symbol to differentiate a sport product (brand awareness, image, equity, loyalty)
Developing sport marketing plan step 5
pick the players - analyzing and targeting consumers: grouping and selecting, market segmentation (used to identify target audiences)
Segmentation into 4 areas
demographics, psychographics, media preferences, purchasing behaviour
Developing sport marketing plan step 6
package the sport product - presenting the product in the best possible manner, tangible sport product, licensed merchandise and sport sponsor ship
Developing sport marketing plan step 7
price - determine the value of the product, price is the most visible and flexible element, factors to consider when develop pricing strategy, unique aspects and complexity of sport pricing
Developing sport marketing plan step 8
promote the sport product - communicating the desired image, educating and informing target audiences, persuading target audiences to purchase
Elements of promotion strategy
advertising, publicity, activities and inducements, public relations, community relations, media relations, personal selling, sponsorship
Developing sport marketing plan step 9
place: distributing the sport product - product location, distribution point of origin, geographic location of target markets, other channels
Developing sport marketing plan step 10
evaluate the promises of the sport marketing plan - evaluating the extent to which plan met its promise, obtaining and analyzing feedback from internal and external sources
Info needed to develop marketing plan
the product, targeted consumers, social, cultural, and economic trends, direct and indirect competitors
Ambush marketing
marketing activities that attempt to capitalize on the popularity of events by inferring some kind of link between the event and product even though no such relationship exists - hope to create confusion to reduct effectiveness of competitor’s sponsorship
Ambush marketing example
McDonalds paid $40mill to be official sponsor of 1994 winter olympics
