Different sports compete for fan loyalty and revenue. College, professional, and amateur sports all want a piece of the spectator revenue. Such spectators are actually consumers purchasing a service (the event). The ultimate goal for sporting events is selling the maximum number of tickets and other related items. Marketing research is used to determine which sports are the most popular for different target markets. This research is not only important to event managers but also to sponsors interested in gaining the attention of potential customers. New sports make the entertainment scene even more competitive for spectators and sponsors. So I am going to define what marketing is first, and then I am going to define what Sports marketing is.
Marketing is an important business function. You participate in the marketing process as a consumer of goods and services. About half of every dollar that you spend pays for marketing costs. Marketing costs include product development, packaging, advertising, and sales expenses. Marketing includes a wide variety of business functions. .
According to the American Marketing Association, marketing is "planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives." This definition is complicated. However, it thoroughly describes the marketing process. Another definition of marketing is the creation and maintenance of satisfying exchange relationships. This definition describes pieces of the entire marketing concept. Creation suggests marketing involves product development. Maintenance means marketing must continue as long as a business operates. Satisfaction implies that marketing must meet the needs of both businesses and customers when exchanging products of services. Finally, an exchange relationship occurs when people both give and receive something of value.