Sports marketing - Research Paper Example

Sports Marketing: Dictionary.com defines “marketing” as “the act of buying or selling in a market.” Accordingly, the term “sports marketing” fundamentally means a bargain or sale of sports. Sports make a diverse industry that covers different aspects pertinent to sports that include but are not limited to sports media, sports team administration, sports engineering, and medicine (mit.edu, n.d., p. 8). Through sports marketing, the various areas concerning sports achieve their objectives.

Specialty firms qualify as the agencies of sports marketing. They tend to support and promote the upcoming sports events. They may also sponsor individual players or in some cases, teams. (Huguelet, 2010). Planning of the whole process of sports marketing commences with the objectives of the corporation and its mission statement. (Kriemadis and Terzoudis, 2007, p. 32). The process of marketing sports fundamentally involves use of 4 Ps, namely, product, pricing, promotion and place (Summers and Morgan, 2005, p. 6). Indeed, these are the 4 most critical factors that decide the success of a sports event.

“The level of support for a football club is a key variable for matchday revenue and also determines most other club revenue streams” (Kase, 2007, p. 278). Sports and business have many traits in common. For example, “sport and business share values such as the magnitude of teamwork, line of attack and striving also toward a goal” (Hameed, n.d.). The professionals involved in sports marketing also work to address the concerns of an individual country by promoting its team. They may also work for organizers of some professional tournament.

Either way, they promote the individual team or event. Sports marketing professionals cardinally make use of advertisements to achieve their objects. Radio, internet, newspapers and television are commonly chosen as the means to announce games coming in near future. Many times, the sports marketing professionals make use of unusual strategies to gather large number of visitors to see the match. They do so by offering to give away their products to the public via lottery or such other schemes.

Also, many sports marketing professionals carry out market research to investigate the popularity of individual athletes among public. They require this information so that they may be able to launch a successful advertisement by making that athlete, part of the advertisement of their product. Entities like Fantasy Frontline remain on the forefronts of sports news reporting, and hence, play an important role in the promotion of sports by making the public aware of the latest news updates. “Fantasy frontline empowers your fantasy sports news organization to deliver time critical information and crucial insider analysis by going straight to the frontlines of sports reporting.

” (Prince, n.d.). Owing to the huge usability of sports marketing, many corporations conventionally maintain a department in-house, that solely is meant for marketing the sports. This is done to advertise their products along with the sports. This boosts the chances of good sale of their product. Sports marketing indeed, builds such a relationship between sports agencies and product corporations that they mutually benefit from each other. References:Dictionary.com (2010). Marketing. Retrieved from http://dictionary.reference.com/browse/marketing.

Hameed, U. (n.d.). Attitude Towards Advertising Through Sports In Pakistan. Retrieved from http://www.iqraisb.edu.pk/icbte/Proceeding_ICBTE_2010/Proceeding%20Papers/124.pdfHuguelet, M. C. (2010, Sep. 9). What Is Sports Marketing? Conjecture Corporation. Retrieved from http://www.wisegeek.com/what-is-sports-marketing.htm.Kase, K. (2007, April). Economic impact of support. International Journal of Sports Marketing & Sponsorship. 8(3). 202-281. Retrieved from http://www.theelusivefan.com/IJSMS8_3.pdf.Kriemadis, T.

and Terzoudis, C. (2007). Strategic marketing planning in the sport sector. Sports Management International Journal. 3(1). 28-45. Retrieved from http://www.choregia.org/3.pdf.mit.edu (n.d.). Careers in the Sports Industry. MIT Global Education & Career Development Ctr. 12-170(617). 253-4733. Prince, C. Christopher Prince - Interactive Sports Marketing. [Motion Picture]. Retrieved from http://www.youtube.com/watch?v=1Y0-zqUFglY&feature=related.Summers, J. and Morgan, M. J. J. (2005). Sports Marketing.

Sydney: Copyright Agency Limited. Works Consulted:Graham, S., Goldblatt, J. J., and Neirotti, L. D. (2001). The ultimate guide to sports marketing. New York: McGraw-Hill. Martin, N. (2010). The Marketing Handbook for Sports and Fitness Professionals. 1st Edition. A&C BLACK. ISBN: 9781408114797.Wood, M. B. (2009). New Face of Branding: Faces of College Athletes. Retrieved from http://marketinghandbook.blogspot.com/2009/10/football-stars-faces-as-brand.html.