Welcome to the segment, What is Sports Marketing? This will be the agenda. I'll begin by defining what is sports marketing. I'll talk about the various types of consumers that you find in sports marketing, the various products that you find in sports marketing. I'll talk about the other stakeholders in sports marketing, and finally finish it off with the four Ps in the marketing of sports. So, let's get started. What is sports marketing? Simply put, sports marketing is the marketing of sports. But it's more than that, as we can see in this following diagram. So sports, in and of itself, is actually quite big. but it can become even bigger. So not today, but later on, we'll talk about sports sponsorship. And sponsorship is an example of marketing by non-sports industry via sports. So keep that in mind, sports marketing has this dual characteristic. But here, I will try to concentrate mostly on the marketing of sports. In sports marketing, marketing of sports, you have three types of consumers. One, the spectator, and they could be a spectator who was on site. And that's what we mean by live. But of course you can enjoy and watch a game, even a game being played abroad via various kinds of media, whether it's conventional media or online. You can also be much more active as a participant in the sporting activity, whatever sport that is. And finally, in a business to business sense, sponsors who will use your sporting property to become a consumer, a customer. Okay, so depending on who the consumer is, as we can see you have various kinds of subproducts. So as a spectator, you have not only the event itself, but if you're a rabid fan like me of, I'll say it quietly, Real Madrid because I know I have a lot of learners who might be Barca fans. So I have licensed merchandising such as Cristiano Ronaldo's jersey. So those products actually sell very very well. Of course of late, especially because of fantasy sports, fantasy leagues, there's a huge market being created for sports information. As participants you have of course products that are related to how you participate in that sport. So I'm doing my tennis swing, or it could be a golf swing. So those are products that we have to buy, sporting equipment that we have to buy in order to participate in these sports. It could also be personal training. And for sponsors it's the right to put their name on the sporting property. And what do you get? Well, through the use of these products you have all these benefits. And we can compare and contrast, even from a consumer standpoint, how different they are. For example, as a spectator I think it's much more social, the kind of bonding, the kind of affiliation that you have that is at the core. Whereas as a participant that experience I think is much more personal, the satisfaction that you attain. And if you are a corporate sponsor, it's of course much more related to the kind of vision, strategy, and action that you need. For example, the image that you want, being associated with a winning, a famous team. So the implication here is that depending on the consumer, the Noon Nopi has to be matched very, very well. Okay, having said all that, we have to be very careful because sometimes being a participant and being a spectator isn't always completely independent. So in the case of golf, of course, you can be both. You can be not only a spectator. You can follow as a member of a gallery, a golf tournament, which I've done. But of course then you can also play golf afterwards, trying to emulate the player that you idolize, using his same driver, same iron, same putter. So that's golf. But in a sport like formula one racing, you can like it all you want, but as far as you also being able to drive that super car, that is a fantasy. Most people aren't able to do that. So again, that separation between participant and spectator depends on the sport. Okay, we talked mostly about consumers, but keep in mind that there are other stakeholders involved in sports. Such as the government that regulates, that sometimes acts as a sponsor, also as a partner in international events such as the Olympics, the World Cup, even in Formula One. You of course have the media that transmit these events. You have agents, people like Jerry Maguire played by Tom Cruise in one of my favorite movies. So they act as the middleman between teams and players. I talked about tennis and golf. So you have these sporting equipment manufacturers. You also have service providers such as the employees, and they have to be managed well because sports too is a service industry. And lastly we have investors. Sports requires a lot of money. So activities such as investors'relationships matter also in sports.
