Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives. -American Marketing Association
We all have a slight idea of what is marketing in the Business world and what are the components containing marketing mix and objectives of it But Sports Marketing is a different concept altogether on the basic ground of generic marketing.
What is Sports Marketing?
Sports Marketing drives with a basic concept of matching process, where demand matches supply. A sports marketer has to interpret, define and satisfy the demands of a consumer by sports products and services.
Sports marketing is a systematic process of analysing, developing, executing the Sports Business related to production, promotion, pricing, publicizing and distribution of sports product.
What is Sports Product?
A sports product can be product or service.
For instance, IPL is a sports product and it is INTANGIBLE.
Features of Sports Marketing and how it is different from the generic marketing:
- Sports Product is intangible in nature
- Ephemeral, perishable
- Social Influence and facilitation
- Non-Uniform target
- Sport Product Extensions
Marketing and Sports
1) Marketing via sports
As the heading suggests this approach is based on marketing through sports, with the increasing consumption of sports from different age groups and geographical locations, sports has become a hot stage to experiment with marketing where non-sport organisations and companies use sports to provide visibility to their product or service.
For instance; naming rights, sponsorship, team sponsorship, jersey sponsorship, in-stadia branding, athlete endorsements. (Arsenal’s Emirates Stadium, Barclays Premiere League, Pepsi IPL)
2) Marketing of sports product
Marketing of sports is a mainstream approach to market professional or elite sport, sports product, equipment and services through different strategies and techniques. It can be through events, contests, sports equipment, sports tech and innovation.
Courtesy: consumer-supplier relationship in the sports industry, Shank 2009
A sports marketing is a structured process based on the objective of the organisation, a notion which drives the entire process towards the goal.
What message an organisation wants to spread about the product, service and organisation is the base of the marketing process and then Marketer work to build that image of the product, service and organisation in the public domain.
As shown above a sports marketing process formed of four stages:
An analysis is a first phase consists of Market research and SWOT Analysis (Strength, Weakness, Opportunity, Threat) with the consideration of external and internal environment in the mind.
The second phase planning is based on the results you will get from the market research and SWOT Analysis. This is one of the most critical phases where you underline the “Sports Marketing Objectives” and mission statement of your organisation.
In implementation, you will segment and rectify answers of overall upcoming operational challenges
Who? (Product, Service, Organisation), What?, How?,Where?,When?,Result?,Budget?, Schedule?
It is the control phase which check upon and ensures the sports marketing goals are fulfilled or not, and in adverse situations what are the remedies.