SOM7002 Sports Marketing Assignment Sample
Introduction-
Football is one of the biggest sports in the world that is played by many countries all over the world. It is a very less time-consuming sport that is enjoyed by the youth and the older people alike. Almost every nation, be it a developed or a developing country, participate in these sports.
It has become almost a religion in many countries like Brazil, England, Spain and many others (Dobson, Goddard and Dobson, 2020).http://SOM7002 Sports Marketing Assignment Sample This sport has generated the highest revenue all over the world and people are looking towards investing more and more money towards this sport in order to gain profits.
Football has currently the biggest market right now with different tournaments and trophies being organized more enthusiastically and frequently where brands are investing huge amounts of money so that they can gain profits from sponsoring the players and from the marketing of the goods. Many companies target this market and provide special offers during the season so that they can easily get new customers and generate gains.
MAIN BODY:
Market scenario-
The sport football currently has the biggest market among any other sport all over the world. Many of the footballers have become worldwide talents and phenomenon who are being admired by everyone. So large number of people are tuning into their television and mobiles to watch them play (Abratt and Grobler, 2018).http://SOM7002 Sports Marketing Assignment Sample So, when those people would advertise these brands wearing their logos and shirts and sponsoring the stadium billboards, people would instantly be attracted to it as their idols are also wearing them.
Many of the brands have become famous and more companies look towards investing money on sponsoring the jerseys for different teams so that a large number of people can get to know the brands and it would easily boost up their markets and profits. Furthermore, they can also get famous football personalities to do advertisements, so that people would be attracted by their idols using their products.
They would also want to buy them in order to follow them and does not bother about the money they would have to be spending (Singer, 2018). http://SOM7002 Sports Marketing Assignment SampleTherefore, investing in this market would be an instant hit for all the brands due to the huge viewership and likeness of the sport that none of the others can match in the current market.
Business objectives-
The company looking towards investing in the sports market should have a clear idea of the strategies they need to use so that people can easily know the brand (Kotler et al, 2019). http://SOM7002 Sports Marketing Assignment SampleFirst of all, the sport football is watched by many people all across the world. This has a huge advantage as the companies looking to invest can easily get into a huge market. Moreover, they should always look towards having their logos on big teams or world famous players as much as possible.
They can get the proper outreach and gain profits easily. Also proper marketing including good sell of products are important for the profits of the company. Proper flow of goods should be ensured so that people can easily get the products. In addition, they can easily reach a more number of people if they have proper channels to supply these goods.
These channels are important to establish as proper supply would ensure the set up of better markets. In addition, they should be focused more on ensuring quality to remain in the market. Many of the companies like Heineken, Samsung, have easily marketed their products by these methods and have reached worldwide popularity. Many of the people now know and trust these companies to a great extent due to this popularity that they have gained from the marketing. They now own a huge share of the market. This business plan using sports sponsorship have really proven helpful for the company.
Sports rights holders and sponsorship assets-
Currently, a major share of the sports is owned by FIFA, which is a big organization that is solely responsible for organizing all the tournaments, and matches at the international level. All the companies that want to invest in the sports have to gain the rights from the federation only. They have to maintain proper standards in order to do business in the sport.
In addition, some of the assets of the companies are owned by the organization itself before the company can do business with the players and the sport itself. Many of the players and stadiums are under contract with the clubs or the country teams and these associations are in turn under contract of FIFA.
This main federation have to be kept in mind and proper deals need to be made so that they can come up with a business strategy to earn profits and at the same time gain the respect of the players and the organization so that they can continue the partnership for a long term.
This huge amount of money that will be generated will help the company to gain more and more profits, their long-term goals would be much clearer, and they can easily establish their market and have more outreach. The organization will also help them in promoting their products and assist them in reaching to a greater number of people. Help regarding their assets and expansion would also go a long way to the profit of the sponsors and the business.
Available budgets for rights and activation-
At first, the company needs to set up a budget to the available assets that they want to invest and make up their minds for the available resources. They need to be clear where they stand. In addition, they need to have proper understanding with the organization itself.
Without a proper partnership, none of the companies will be able to reach properly to a large amount of population. In addition, they need to have proper clearances and have done proper inspections done so that the people would not have any doubts before using their products.
Moreover, they should also approach famous talents in the sports so that the products can get immense popularity easily and hence activate their products easily and in a better way. They would also need to do thorough rights and inspections check from time to time so that nobody could raise a finger towards them.
It would easily increase the trust and make them long time business partners. It is a very competitive market and hence proper updates need to be kept as a simple slip up can cause them to lose their business. All plans should be tight and fruitful so that they can never be questioned or talked in a negative way ever.
Activation and the steps to properly exploit-
Proper steps need to be taken by the company so that they can properly use and exploit the resources. They should at first come up with a business strategy and what clubs to target at first. Always famous clubs and personalities should be targeted. Priority should be given to the targets and to the places where they can expand their business.
They also need to provide proper assessment and business strategies before they can make a decision. In addition, they need to be exclusive to their decisions for them to make proper decisions. Proper protocols need to be composed so that plans can be made. Moreover, activation of the plans needs to be considered and a timeline needs to be followed so that the resources can be properly exploited and profits can be made so that they can progress.
Ethical issues that may arise–
There are many ethical issues that need to be considered before the business can make progress in the sports sector. Employee related issues and environment related issues have created major problems in the recent years. This needs to be considered to make a decision regarding what rules to be made and what protocols need to be followed so that they can make progress. Also, issues related to proper following of inspections need to be done so that no problems may arise in the future also.
These issues are of grave concern and needs to be addressed before a sponsorship decision can be made. Also, this would be very helpful in gaining trust of the different partners. Furthermore, more emphasis should be made regarding this so that people can have proper knowledge regarding this. Also, it would gain a long way towards earning the trust of the common people as well. (Singer, P., 2018)
Third-party agencies-
Many third-party agencies are hired by the sponsors who can do the work for them. The sharing of workload in order to make distribute and properly accomplish all that has been given to them. They generally outsource their work and it has proven to be very helpful, as it has generated huge amount of profits. Many of the companies have already adopted these methods and have helped them towards their progress.
These agencies are really committed towards their vision and also makes them useful. They help them to share the responsibilities and at a very low cost. This cost creates proper resources to be allocated to other venues so that they can also focus their work force to other sources as well. This creates proper uses for the company and becomes much useful in the long run.
Measurements-
Measurements of different factors related to business needs to be made so that proper decisions can be made. Statistics and investigation of business methodologies need to be done so that people can consider what the part of the business they can progress by.
In addition, proper methods ensures that proper decisions can be made and also creating proper sources helps in maintaining the better status. Proper models need to be studied and investment models need to be considered so that they can make quick profits and establish themselves in this competitive line of sports.
Recommendations-
The case study of football gives us an idea about the sponsorships and how the companies can make progress in a very small time. The companies need to be more acquainted to what can be and should be done properly. They need to chalk out all the plans and make sure that they follow it to everything.
They need to focus on the audiences that can be worked on and the people should be their primary concern. Business plans need to be set up that makes the company really helpful for all the people and make them much better at what they should do. Making up all these plans would really be helpful to making all the work that they do.
Also they need to set their goals properly on what can be achieved and should be done so that focus can be put to use and proper methods can easily be made so that sponsors can be responsible to the work that they provide. They need to have proper focus on their business plans and should have proper investments aligned with their decisions so that they can easily establish themselves in this market of huge competition.
Their main aim should be towards earning profits and more towards earning the trust so that they can become giants in the long run. This industry of today is defined by competition that has taken over the market. This competition needs to be curbed down so that progress can be made and according to the people’s needs. This needs to be the primary focus on which everything depends and it makes sure that profits can be earned in quick succession and people would have much easier access to all the products that are available. (Cooper, 2020)
Summary-
The case study of football and its sponsorships gives us a brief idea as to what the business models should be regarding making progress. There are many companies that have gained resources that can be useful for the people over a long time. This needs to be done properly and easily and can provide progress for what has been done.
There are many companies that have made progress from selling their products and getting celebrities to advertise for their brands. Personalities and major football clubs can attract more and more people thay will be really helpful for everyone in the brand.
The main focus of the company is to make use of all the reosurces that are provided for the use of these resources. Proper allocation of these would really help them to make the long term goals more fruitful and achievable so that they can easily associate with these brands and make use of the business models.
The models are an important part that should be followed properly and in a better way so that people can understand on what to do and make use of everything that has been put forward. It needs to be said that sponsors would really be making progress so that people can easily make use of all the resources that will be helpful of things to progress from.
Plans to establish proper methods need to be followed so that people can feel used to the changes and the sponsors can easily market the strategies that would be useful. Every company needs to analyze these models according to the business goals that needs to be made clear and proper methods that will be used to follow all these to the last step.
Only then progress can be made. Proper methods and plans need to be made so that people can make useful decisions and they can get reliable products. This is very important for a company’s establishment and to make a name for themselves in a competitive world. Competition is the main thing that guides these sponsors in the field of football.
The competition and proper usage needs to be kept in mind before making a decision so that company can easily make progress on what to do and it would reach a large number of people at the same time that would create proper usage of what can be done. This always needs to be kept in mind.
References-
Dobson, S., Goddard, J.A. and Dobson, S., 2020. The economics of football (Vol. 10). Cambridge: Cambridge University Press.
Abratt, R. and Grobler, P.S., 2018. The evaluation of sports sponsorships. International Journal of Advertising, 8(4), pp.351-362.
Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2019. Marketing. Pearson Higher Education AU.
Singer, P., 2018. Practical ethics. Cambridge university press.
Porter, M.E., 2020. What is strategy?.
Handy, C., 2020. What is a business for?. Harvard Business Review, December.
Emirbayer, M. and Mische, A., 2018. What is agency?. American journal of sociology, 103(4), pp.962-1023.
Statistics, F.B., 2018. Statistics. EVERYMAN’S SCIENCE, p.77
Deonna, J.A. and Teroni, F., 2019. Evaluations?. Emotion and value, p.15.
Förster, J. and Liberman, N., 2022. Knowledge activation.
Hill, J.L., 2018. Exploitation. Cornell L. Rev., 79, p.631.
Cornwell, T.B. and Maignan, I., 2018. An international review of sponsorship research. Journal of advertising, 27(1), pp.1-21.
Cooper, R.G., 2020. Winning at new products (pp. 1-14). Reading, MA: Addison-Wesley.
You Know More About Services:-
