Sports Marketing Definitions

Summary

In this video, Batina Cornwell discusses the definition and scope of Sport Marketing, emphasizing its similarities to general marketing. She elaborates on how marketing in sports involves creating, communicating, delivering, and exchanging value, akin to broader marketing practices. Cornwell debunks the idea that sports marketing is entirely unique, pointing out parallels with other industries such as music concerts, airlines, and retail. She also explores sponsorship in sports, explaining it as a strategic alliance between brands and sports properties, designed to enhance marketing efforts through long-term partnerships.

Takeaways

• 😀 Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
• 😀 Some believe that Sport Marketing should be its own discipline, but it is ultimately an aspect of general marketing applied to the sport context.
• 😀 Passion is a common argument for why sport marketing is unique, but other industries, like music concerts, also have strong emotional connections and loyalty from audiences.
• 😀 Dynamic pricing and two-stage pricing are common strategies in both sport marketing and other industries, such as airlines and retail membership programs.
• 😀 The cooperative nature of sports is often seen as unique, but cooperation is also a significant aspect in industries like automobile manufacturing.
• 😀 Sport marketing often focuses on selling tickets, media rights, and sponsorship, which are core elements in the marketing of sports.
• 😀 Sponsorship is a form of marketing that leverages sports to promote a brand, and it typically involves long-term strategic contracts, sometimes lasting decades.
• 😀 Sponsorship agreements in sport are essentially purchases of assets, such as branding opportunities, logos, and stadium access, which brands use to build their marketing campaigns.
• 😀 It's important to differentiate between 'Sport Marketing' (marketing the sport itself) and 'Sponsorship-Linked Marketing' (marketing through sports).
• 😀 Sponsorship-linked marketing involves using the sport property as a platform to promote a brand, rather than directly marketing the sport itself.

Q & A

What is the official definition of marketing according to the American Marketing Association?

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Why do some argue that Sport Marketing should be a unique discipline?

Some argue that Sport Marketing should be a unique discipline because of its distinctive elements, particularly its passion-driven nature and the unique loyalty associated with sports fans.

How does the speaker view the argument that passion makes Sport Marketing unique?

The speaker disagrees with the idea that passion makes Sport Marketing unique, pointing out that other industries, such as music concerts, also have strong fan loyalty and passion.

Are dynamic pricing models unique to sports?

No, dynamic pricing models are not unique to sports. They are also used in industries like airlines, where prices fluctuate based on demand, and in retail with membership-based pricing systems.

What is two-stage pricing, and is it unique to sport?

Two-stage pricing involves an initial payment for access (such as a seat license fee) followed by the opportunity to purchase additional products or services. This model is not unique to sports, as similar systems are used in other industries, such as retail.

What is the cooperative nature in sport marketing, and is it exclusive to sports?

The cooperative nature of sport marketing refers to collaboration among various stakeholders in the sports industry. However, cooperation is not exclusive to sports; it is also evident in industries like automobiles, where companies often collaborate on shared goals.

What does the term 'Marketing of Sports' refer to?

Marketing of Sports refers to the promotion and sale of sports-related products, including tickets, media rights, and sponsorships. It is the marketing of the sport itself.

What is 'Marketing via Sports,' and how does it work?

Marketing via Sports involves using sports as a platform for brand marketing, typically through sponsorships. Companies form strategic alliances with sports properties to promote their brand through association with sports events or teams.

How does sponsorship function in sport marketing?

Sponsorship in sport marketing is a strategic alliance formed through a contract, where a company pays for marketing support or association with a sports property. This may include using the sport's assets like logos or stadiums for brand visibility.

What is the difference between 'Sport Marketing' and 'Sponsorship-linked Marketing'?

Sport Marketing refers to the promotion and sale of sports-related products, while Sponsorship-linked Marketing refers specifically to marketing through sponsorships, where brands form long-term strategic partnerships with sports entities to promote their brand.