Sports Marketing Synthesis

This paper will be talking about a company called Barstool Sports based out of Boston. This paper will be taking an in depth look into the company and its marketing as a whole. There are many topics that will be covered all relating to Barstool sports and marketing. (NEED MORE INFO)

These firstly include Boosting the customer experiences. The company has wanted to create a simpler, faster, smarter and a safer experience possible, for its customers. This is then followed by being able to provide intuitive mobile experiences. This is by being able to be first to market these interactions across to the marketplace. Building new, compelling and unique sports products, is another factor of the strategy utilised by the company for its marketing. Finally, they want to be known by their customers for being fun, fast and fair. This is enabled by engaging and entertaining customers with their brand, and experiences (Williams,

Commercial companies use many different methods to sell products to the public. They use commercials and logos to manipulate the ways people think. While using public figures or sports icons to connect with the general public emotionally. In this paper I will be writing about two sports drink giants and how they use credibility, emotion, and logic to sell their product.

In the last 30 years innovation and product development in sports has seen consistent growth even with the micro and macro-economic differences. One of the reasons this happened is because most sports enterprises have smarted up their way of product development through paying close attention to the relationship between sports consumers and product development.

Experiential marketing explained in the sports business journal article “Engaging in the crowds” creates an emotional response from the consumer that will eventually lead to a purchase, brand loyalty and a referral.

The notion of "marketing myopia" has haunted marketers since Theodore Levitt published his famous article "Marketing Myopia" in Harvard Business Review in 1960. Levitt argues that companies which narrowly focus on the product to the detriment of customer requirements (i.e., dispensing with the marketing concept) suffer from marketing myopia. Myopia or shortsightedness is often apparent within organizations. Several types of marketing myopia can be identified including classic myopia, competitive myopia and efficiency myopia. Companies displaying one of these three elements are clearly distinguishable from innovative firms which embrace the marketing concept in practice and which have a much broader scope than is

In traditional marketing business companies have to make sure that they are providing the right product. Determining the product is essential in business. For instance, Pepsi Co. has defined its product as cola soda. Likewise in sports marketing a product needs to be defined also. A sports agent’s product is the athlete. He or she has to represent the client well enough to get preferred contracts or top dollar endorsements. There has been some debate as to what constitutes the “core” product in sport marketing. For example, some posit that the core product is the actual event. On the other hand, if we applied a mainstream marketing definition, the “core” product is the benefit that consumers seek from a product, service, or experience, therefore taking the focus off of the actual event. (Masteralexis, Carol & Mary, 2012)

In the world of sports management, sports marketing has created a special niche. Sports marketing shares similar principles and elements that traditional marketing does, however there are several unique differences. The “marketing mix”, which is the “blueprint” to a marketing campaign, are commonly referred to as the “Four P’s”: product, price, place and promotion (Masteralexis, Barr and Hum 2012). These elements are tailored to meet the unique needs of the sports management professional and ultimately spell success. The media is one of the most powerful tools sports marketers utilize when marketing sports products. Marketing communication “are the channels used to deliver messages to prospective attendees”, which include the following channels: newspaper, radio and television (Clow, Fetchko and Roy, 2013). Nearly everywhere we go there is some type of advertisement enticing us to view a regular season game or buy a season pass, be it basketball, football, baseball or

This is made possible through collaboration between the product development team, the sports marketing team, sales teams, as well as the help of athletes to help determine buyer needs and product innovations/changes (C-86).

The definition of ‘marketing’ is widely debated among numerous professionals within the industry, The Chartered Institute of Marketing defines the concept as ‘the management process responsible for anticipating and satisfying customer requirements profitably’ whereas Kotler and Armstrong define marketing more simply as ‘managing profitable customer relationships’. Fullerton and Mers go into more depth and consider how the idea of marketing is presented when in the context of the sporting industry, they believe ‘sports marketing consists of all activities designed to meet the needs and wants of sports consumers through exchange processes’.

Nike’s main competitors, Adidas and Reebok, each produce a similar product mix to Nike’s, and in order to keep a competitive edge, these companies attempt to optimize its current products and showcase new innovative products. The Summer Olympics, the biggest sporting event series in the world held every four years, presents Nike and other sporting good companies with a huge opportunity to showcase new products and fuel the competition in their industry through sponsorships of teams and individual athletes. By the next Summer Olympics in 2016, sporting companies will have another chance to show off their brand, enhancing the competitive rivalry between each other. Another competitive issue that inhibits Nike’s product distribution is the large amount of substitutes in the sporting goods industry. Consumers have a wide selection of footwear, apparel, and sporting gear retailers to choose from, which requires sporting goods companies to enhance their marketing strategy to sell their products in order to survive in the industry. On the contrary, there are some economic factors that may benefit Nike’s marketing of product in the next few years. Since 2008 recession, real personal consumption expenditures have increased, indicating that consumers are willing to spend more of their money on certain items (Appendix B). This may be an opportunity for Nike to intensify marketing to consumers in order to increase sales at time where there is an increasing

Bodet, Guillaume. 2009. ‘Give Me a Stadium and I Will Fill It’ An Analysis of the Marketing Management of Stade Farancais Paris Rugby Club.’ International Journal of Sports Marketing & Sponsorship. Pg. 252-264.

With the development of Chinese economy, sports industry has become one of the new industries in china, which has large market size and high growth rate (Qinqin, n.d.). In Chinese sports area, Li Ning brand, built by famous gymnast Li Ning (Enright, 2012), is the market leader and owns about 8000 hypostatic shops domestically (Zhang,2011). Similar to some international famous brands like Nike and Adidas, Li Ning intends to enhance influence by exploring international market (Sauer, 2012). For this reason, the essay will compare and contrast the marketing strategies of Li Ning domestically and internationally. A close look at the sources

As the year of 2014 winded down, with the ending of the Sochi Olympics, the Executive Board of the International Olympic Committee devised a list of 40 recommendations with the intention of shaping the future and the direction of the Olympic Games. These recommendations provide a strategic guideline to follow heading into the Tokyo 2020 Summer Olympics. These recommendations can play a key role in improving sport and sport marketing in countries around the globe. Furthermore, recommendation #26 “To further blend sport and culture” can impact sport marketing in the country of Russia.

A worldwide sporting event like The Olympics or world Cup provides a huge marketing opportunity for sports apparel companies, which have long enjoyed a spike in sales during such events. Historically, the