Importance Of Marketing Mix In The Sports Industry

If people will be happy with events, then they will give positive feedback for stadium. The positive feedbacks will help to generate the income with the help of word of mouth marketing. To develop new pricing strategy The management of stadium should make the different pricing strategy. The stadium should also apply an effective pricing strategy, which will be the most beneficial for the stadium. If management want to improve their publicity, then they need to do brand advertising.

Through endorsements companies now look upon athletes to strengthen their products. In most cases, this method is usually successful. This gives an overall boost to the economy, hence fortifying athletes’ significance. With their functi...

Teams, players, and events rely on sponsorships for funding, donations, acknowledgement, and support. When a corporate company or association forms a partnership with a sports team or league both parties are able to succeed from one another. Sponsorship continues to be a growing importance due to the rapid growth in the sports industry. More and more players continue to develop, new sports are becoming more popular and events being televised more often. Sponsorship is the right to partner or directly associate with a product or event for the purpose of growing benefits related to that affiliation or association.

Mutually, television and sport understood that together profits would continue to increase. The emergence of global fan bases increased revenue across markets. The technological enhancements and the aesthetically advanced additions to sport broadcast boosted interest in events. Expanded coverage to occasional live major events gave the sports and the games a national level of recognition. The attractiveness of sport on television networks provided extreme financial gains with the revenue from advertisements and sponsorships.

Marketing can easily figure out the satisfaction criteria of the customers, market offerings and value of which customers are keen on. According to Kotler, P. and Armstrong, G. (2000), marketing investigates to attract more customers by adding the best of the value they need, offers advantages of having the product or service and enhances relationship providing value added services regularly. Targeting and capturing customers is one of the most difficult jobs for the companies, marketing strategy ease the way capturing the customers effectively. According to Lancaster, G. and Withey, F. (2007), to being successful, the companies have to be strongly market focused. Marketing builds relation with customers providing superior customer value and attracts them providing value added services as well as increases the number of potential customers in a regular basis.

The success of the people that Nike promotes helps give Nike a little bit of credibility in what helps make someone a great athlete. So when Nike promotes a shoe saying that a certain type of shoe promising a specific result people not only buy to satisfy the need to create a better reality but also in trusting in Nike and what they can do. Those pictures are their constant appeal to ethos. The athletes like Russell Westbrook and past legends like Michael Jordan that Nike sponsored have created a chain in which Nike gives an athlete publicity and in turn that publicity helps the person they are sponsoring boost the sells for their product more. With all of this Nike helps create an image of what modern American is like.

While both Nike and Adidas manufacturing companies offer a greater variety of sports products, Nike is the better company due to their quality, advertising, and sponsorship. Nike mission is “To bring inspiration and innovation to every athlete in the world.” Adidas mission is “To strive to be the global leader in the sporting goods industry with brands built on a passion for sports and a sporting lifestyle.” When comparing the two mission statements there are many differences. In Nike mission statement, their main target is focused towards their customers. They want to inspire every athlete in the world, whereas Adidas mission statement explains they want to be a leader. They want to be a global leader in the sporting goods industry as a business; their main focus is their business not the consumers.

As the largest sporting event in the world, the World Cup embodies the best attributes that lead people to love the sports they watch and play. Sports stimulate national economies, lead people to experience other cultures through international competitions, and promote world peace by bringing nations together in friendly competition. Even though some people disagree with these points by assuming sports are a waste of money, put athletes at risk due to injuries and while playing in other nations, and causing disagreement between countries. Evidence will be provided to show that sports have a positive impact on society. Sports stimulate national economies when there is an event hosted within the country.

This is because Sainsbury's would like to provide the customers with good products so that they can fulfil the customer needs and increase the sales within the promotion offers e.g. get one and get the second one free. Promotion is an important marketing function for Sainsbury's. This is because Sainsbury's would like to increase the awareness, attract new customers, and increase sales and profits. The marketing function for Sainsbury's takes into account the four marketing mix e.g.

The sales associates that have a high level of morality often get more sales. These increased sales are the foundation of the success of the company. This not only will give us a competitive edge, but it will also create a pleasant work environment. A total rewards programs will help benefit both the company and the staff ("About T-Mobile Usa, Inc.",