Sports Industry
True or false? Sport is recognized as its own industry segment in the economy.
False.
There is however the sports business industry: One of the fastest growing in the US.
People are afraid of ____ but its a part of everything and a great way to get into the industry.
Sales
What is the unique side of sports that gives the reason for the sports management class/program?
Consumer Behavior
Describe Psychological Influences
Personality, attitudes, motivations, perceptions, knowledge, beliefs, and lifestyle
True or false. Building a new stadium doesn't mean it'll be successful, bring in revenues, or bring in tax money.
True. Example: Miami Marlin's Stadium
Q1: What are the two most prominent reasons fans stay home?
Q2: What is sports fatigue and its issue?
A1: 1. Total cost to attend (57%)
2. Comfort of watching games at home (41%)
(BONUS) 3. Player behavior during games (41%)
A2: Oversaturated w sports; younger generations are consuming/watching less and doing/participating more.
What is the biggest thing about sports and getting a job in sports?
Networking
What about America makes love for sports so special?
What aspects influence this?
The excitement and possibility with each game. "Underdog" ability to move up.
Psychological, social, and cultural influences.
Describe Social Factors
How does building a stadium benefit the community?
Increased visibility, enhanced image, and stimulates other business development
What is the fastest growing segment of sport spending in the 21st century?
Lifestyle sports
(ex. BMX, skateboarding, snowboarding, bungee jumping, skating, etc.)
People work full time to bring in events and money. The process of bidding for an event, facility, and coordinating with the event is called ______.
Sport Tourism
What significance do regions have on sports? Give an example.
Regions tie people together and brings a joint passion to possibly the biggest representation of their sport.
ex. College FB (South)
ex. Horse Racing (Kentucky)
ex. Hockey (North)
Describe Marketing Influences
Product, price, production, place, brand management.
What example was given of a city run down and avoided then later renovated and had booming growth from team success. (2000)
OKC & OKC Thunder
What was the 90's Boom?
Corporate America realized that sports were an excellent investment to find level ground with their audience. Shaped sponsorship and team/stadium partnerships to reach far beyond advertising.
Career advice "Carpe Diem" means?
Don't spend life doing what you hate.
What are the 4 aspects to analyze sports from?
1. Social
2. History
3. Politics
4. Economics
What has the highest brand awareness and loyalty of all sports?
NASCAR
What negative effect can the Super Bowl have on the economy of a city or region?
Mega event displacement can disrupt normality and can result in revenues breaking even or going negative.
What team's stadium rebuild had the most significant facility cost difference between their new and old?
Denver Broncos: $4.2M (old) to $420M (new)
What are key points to look for when seeking a career in sports?
1. Internships (Meaningful projects/attend meetings/provide ability to help them improve)
2. Teams that are smaller, had a change in management, or have just moved
3. Don't be afraid of bad teams
Describe Brand Image, Brand Identity, and Brand Loyalty.
Image: Perception of product or brand by consumer
Identity: Perception you want consumers to have
Loyalty: Repeat purchases despite alternatives
What is the tater tot lesson?
When you reach the tipping point of no longer being the younger target audience of a brand
What is the term for tax on money earned by pro athletes while in local jurisdiction?
What are three other tourist development taxes?
'Player tax' or 'Jock tax'
Hotel tax (bed tax), car rental tax, and sin tax