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Sports Marketing

Sports Marketing

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Sports Marketing

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Presentation Transcript

  1. Sports Marketing • Sports spectators often have more in common than just the sports • Competition • Tastes • Spirit/Fanaticism • The goal of sports marketing– determine fans interests, and fill marketing needs

  2. Target Market • 1st step in marketing a product • Target Market- a specific group of people in which all of your marketing efforts are focused towards • Be as specific as possible • E.g. George Foreman grill targets health conscious people who are cooking for themselves

  3. Demographics • Successful marketers determine demographics about their customers • INCLUDE: age groups, marital status, genders, education level, socioeconomic status (income bracket)

  4. Disposable Income • Income left over after paying bills • Money used for entertainment, clothes, sporting events etc. • Important when determining your target market

  5. Spending Habits • Important to research target markets spending habits at sporting events in order to maximize profit • Ticket price depends on targets interest, importance of event, popularity of athletes, rivalry associated with contest

  6. Spending Habits • Remember—fans are willing to pay for team/celebrity identified clothing, equipment, expenses for food & travel • In 2004 family of four pays $155 to attend a major league baseball game (Includes: tickets, parking, hot dogs, drinks, programs and souvenirs) • Highest: Fenway Park=$230 • In 2002, baseball’s average regular season ticket was $18.69, • NBA’s average ticket cost $43.65 • NFL’s average ticket went for $50.02