THE GOLDEN TRIANGLE Flashcards
What three bodies does the golden triangle contain?
Sport, media, business (commercialisation)
Define globalisation?
The process whereby nations are increasingly being linked together and people are becoming more independent via improvements in communication and travel
What is merchandising?
The practice in which the brand or image from one ‘product’ is used to sell another (e.g. professional sports performers/teams promote various products including mobile phones, betting companies etc.).
What is sponsorship?
When a company pays for their product to be publicly displayed or advertised, usually an attempt to increase the sales that goods
Define commercialisation?
The process of attempting to gain money from an activity e.g. sport
What is media?
And organised means of communication by which large numbers of different people can be reached quickly
Define social media?
Online apps and websites which allow users to interact by sharing content and taking part in social networking
Summarise the golden triangle?
- each needs the other to succeed
- Media uses sport to gain viewers/readers
- media used by businesses for advertising
- businesses pay for media advertising space/time
- businesses pay sport to act as an advertising medium
- Sport must be in media to attract sponsorship
Describe the inter relationships of the three aspects of the golden triangle
- The media use sport to gain viewers/readers.
- The media are used by businesses/sponsors for advertising purposes, promoting the company name and the products it sells.
- Businesses/sponsors pay the media for advertising time and space on TV, online, on the radio and in the newspapers.
- They also pay large amounts to sports/sports performers to act for them as an advertising medium to sell more of their goods.
- Sports are aware that they need to appear in the media to attract sponsorship, increase their profile and appeal to a wide audience.
- Sports need to be more professionally managed as a result of the increasingly commercialised nature of sport
Golden triangle advantages to the elite performer
- Can be paid millions to endorse products
- Fame/status
- other opportunities/follow on Career
- Can receive high quality equipment to use to help performance
- can train full time and not have to complete another job to fund training so can focus on becoming the best at their sport
Golden triangle disadvantages to the elite performer
- no privacy/constantly scrutinised
- event times may make conditions less favourable for performers
- withdrawal from sponsorship can cause financial difficulties
- Product may have a bad image Or be on ethical giving a bad reputation to the performer
- required appearances take time away from training
- negative reporting can loose sponsorship
- Pressure to win at all costs to keep sponsorship
Golden triangle advantages to sport
• more media coverage
• sponsorship
•Higher profile of sport=more commercial interest
• raised awareness of sports helps increase participation
•Sports gets money for allowing events to be televised
• Sport can become more popular/more fans
• increase funding from sponsors used to:
Run events
Develop better facilities
Develop grassroots to elite performers
What is OFCOM?
The communications regulator in the UK (e.g. they regulate the television sector).
What is ring-fenced?
A number of sporting events at national and international level must be available for viewing on terrestrial or free-to-access TV rather than on satellite and subscription channels.
What is high socio-economic demographic?
A sport played or watched by individuals with high levels of disposable income.