Taking a Look at the Sports Industry

The American economy took a turn for the worst in 2007. Known as the “Great Recession,” the American economic recession entered into a recession in December 2007. The recession came after a large expansion in housing construction, home prices, and housing credit which began in the 1990s (Weinberg, 2013). The recession was large enough to impact all aspects of the American economy. The United States’ GDP dropped by 4.3% and the unemployment rate rose to 10% (Weinberg, 2013). Like most industries during the “Great Recession,” the sport business industry was affected. However, the effects on the sport business industry are far less severe than the effects on the other industries.

Although imperfect, marketing research will help define a marketing problem and opportunity by systematically collecting and analyzing information, develop relative findings, and help to develop the appropriate marketing actions. This marketing research can be done by implementing a five-step plan. The first step is to define the problem facing Prince Sports. Here, marketing research specific measurable objectives are identified. Next, the research plan is developed with any constraints on the research, the actual data needed, and how best to collect the required data. The third step of the research plan is to collect the relevant information or data. Prince Sports needs to collect primary and secondary data to make rational, informed marketing decisions. There are numerous ways to collect such data, two of which are panels and experiments, and data mining. Once the data has been collected, Prince Sports will be to analyze the different data and develop findings related to the data collected. Once the data has been analyzed, the results will be presented to Prince Sports leadership who are responsible for developing different marketing actions. The final step of the marketing research plan is to take the marketing actions and implement and monitor the recommendations. An

Collegiate athletics is a multi billion dollar business. Competition across basketball, football, and other popular sports generate just as much money as they do excitement and entertainment to sports fans and the casual viewer. The driving force behind this behemoth are the athletes that don the uniform of the competing universities. These athletes, the most of which are black, dedicated time synonymous to working a full time job on top of being student in order to serve this money machine. What is so damning about this system then? The truth is that the student-athletes do not see a penny of the millions they earn for their schools. On top of that, they are stretched beyond reasonable means in order to serve their athletic program. In return, they are compensated with scholarships to attend the college. However, what might seem like a coveted opportunity is not what it seems.

Sport is an ever growing aspect of our cultures, and as the access to different avenues of sport begin to present themselves we question the ability of sport organizations to expand globally. This review of literature will examine different avenues of sport and the research that has been done in regards to their effort to expand on a global scale.

Prince Sports can stay ahead of the changes they possibly face if they keep in mind when Linda Glassel said “It’s learning, it’s studying, it’s talking to people who understand where the market is going” (Pg. 241). In order to stay ahead and take on any challenges that come their way, they need to employ research methods that can help them solve their problems and come up with new ideas for marketing their products. Besides using the Five-Step marketing approach, there are specific aspects they should pay close attention to. As a part of step three, they need to collect data, both primary and

There are a number of career opportunities within the world of sports and it is my aspiration to change the world one person at a time. I will continue to assess not only the needs in the organization I am a part of but the current benefits, and recent issues that I have seen especially in the perspective as a league director. In this paper, I will continue to examine my strategic plan to not only become a successful Sports League Director but to also share some improvements I proposed to my director and staff and the outcome thereafter. I will also discuss a few ethical issues and dilemmas in having a sports league organization that I have already noticed and might face myself in the future.

Marketing plans and strategies are an important part of almost any business today. One of the biggest industries marketing plans have benefited and changed in a number of different ways is the sports industry. The development of the sports marketing industry has led companies to invest millions of dollars to have their product associated with specific teams, players, and sporting events attempting to connect with consumer and create profit for both parties involved. The money involved in sports marketing calls for these sponsorships and endorsement decisions to be made both strategically and confidently. After researching the sports industry from a business perspective the importance of marketing decisions is

Economic theory introduces us to four different types of markets: perfect competition, monopolistic competition, oligopoly, and monopoly. Professional sports teams operate in an environment that is different than the typical business structure. The goal of this paper is to look at this industry, in particular the NFL, in an economics context and gain an understanding of the market structure of this unique industry. To do this I will discuss a brief history of the National Football League in the U.S. and how this organization is structured. I will also discuss typical market structures and type of

This article continues to explain that once a sports marketer creates a product and advertises it on a small scale, “Sports marketers get ahead by gradually representing bigger, more important and more prestigious sports teams, companies, associations, and athletes.” In other words, sports marketers need to have a plan of action to promote their product on a larger scale over time. Also, sports marketers spend much of their planning on the aspect of promotion. Mihai verifies that the category of promotion serves to prove that the product is desirable through advertising, sales, sponsorship and public relations. If a sports marketer follows these planning steps, his/her work will lead to a successful product with a large margin of profit.

Making business abroad can be risky, but it can also be profitable for a company as well; thus the necessity to study in deep the country where the company will bring the business to. International companies are faced with many cultural challenges, when doing business across and inside of different borders. Identifying the significant cultural issues involved when evaluating the attractiveness of a particular location as a place for doing business can be crucial for a business. Aspects to consider when studying culture in a new place

Of course I had dreams of playing professional sport like every other young male in the world but, a wise man spoke to me and he asked me how much my favorite basketball player makes on average, I did the research and Lebron James makes over 300 million dollars annually. Younger me got that information and as expected I held strong on my dreams of being a professional athlete until he showed me 0.0015% of Americans make it into the NBA.”Out of every 10,000 kids playing basketball in high school only 3 will make it to the pros. Note, this doesn’t mean they’re going to stay in the pros more than 5 seconds. This doesn’t mean they’re going to get a sneaker deal and be in a Pepsi commercial This simply means they’ll get drafted.” (Odds of Playing).

Sports have always been one of the major factors of the society and economy. Back in Ancient Greece, the homeland of the Olympic games, the Greeks believed that a healthy body was very important and sports played an important part of the society. Nowadays, the sport industry has grown to a direct and indirect economic impact of the countries, with organizations and sport events that have fans and supporters from all over the planet that are willing to spend a great amount of money in order to show their support for their favorite team, player or club. That happens because sports entertain people by watching their favorite sport teams play in some of the sports mega-events.

The purpose and intent of this paper is to describe the legal, cultural, and ethical challenges that face the Nike Corporation in their global business ventures. This paper will also touch on the roles of the host government and countries where Nike manufactures their products and the author will summarize the strategic and operational challenges that Nike managers face in globalization of the Nike product.

Sports' marketing is a comparatively new field and dimension within the broad concept of marketing. It is continuously evolving and changing today as society combats the free market to decide the legal and ethical limitations of business today. It is significant to note that this discipline within marketing is not clearly defined. Sports today use corporate sponsorships and television money in order to contend and pay for top quality athletes. Those companies use teams, leagues, colleges, and individuals to make a distinction between their products in a very aggressive business environment. What makes up sports marketing to one person could be considered selling out to another. The business world keeps pushing to find a competitive advantage and the sports world has in general welcomed the money offered (Weikel, n.d.).

Firstly Nike sold its franchise licenses in different countries expanding the market share in sports wear industry, and then the company moved towards purchasing shares in equity to reduce the risk uncertainty. Finally the company managed to bring the dealers’s corporation under one direction enabling them a better control and monitoring capabilities. Nike is making new policies, analyzing the performance of marketing and advertising with the standards they have set to make sure that the company is in line with its required its standards in addition; company is moving towards improving its advertisement in order to make it more effective in different regions. Nike has also faced different issues while internationalizing the business, such as capabilities, access, finance and business environment; unavailability of trained workers, limited information about the market, inability of contacting foreign customers and new business environments describes these issues on a vast ground.