SC SPTE 380 - The Special Nature of Sports Marketing Chapter 1 (4 pages)

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The Special Nature of Sports Marketing Chapter 1



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The Special Nature of Sports Marketing Chapter 1

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Sports Marketing defined and why it is important


Lecture number:
1
Pages:
4
Type:
Lecture Note
School:
University Of South Carolina-Columbia
Course:
Spte 380 - Sport&entertainmt Mrktng
Edition:
1

Unformatted text preview:

SPTE 380 Lecture 1 Current Lecture Chapter 1 The Special Nature of Sport Marketing a Objectives To understand the market forces that create the need for enlightened marketing strategies in the sport industry To understand marketing myopia and other obstacles to successful marketing strategy To recognize the components of the sport product and the sport industry To recognize factors that demand a different approach to the marketing of sport b Key Ingredients of a Successful Sport Branding Effort Stickiness of an idea How does brand capture fans imagination Reach of brand How far does influence of brand extend Social identity Do different segments of the population relate to the brand in a personal way Media interest Are members of the media captivated in some way by the influence of a brand Monetization and marketing metrics Can marketers put a number on brand s value or success c Global Marketing Strategy Growth of North American professional sport leagues is a global phenomenon Building sport participation has been a key tool in marketing sport brands on the international stage EXAMPLE THE NBA AND JEREMY LIN MARKETING PARABLE DAVID STERN THE COMMISSIONER OF THE NBA IN 1984 USED PRODUCT RECOGNITION AND GOT NBA TELEVISED AND BROADCASTED HE GOT PLAYERS AND COACHES TO AGREE ON SALARY CAPS AND REVENUE SHARING PG 5 d Weathering Recessions examples economic booms or busts pg 6 Sport marketing has been affected by prevailing economic conditions Recessions have a major effect on sport brands The 1990s saw fans decrease identity with major league sports Sport venue construction decreased during the 1990s Significant MLB attendance drops occurred in 2002 and 2009 Several major corporate sponsors reduced spending in the early 2000s Competitive Marketplace small piece of the economic pie pg 8 These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Leisure spending on spectator



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