Identify Sport/Event Trends 1.09 Identify Sport/Event Trends

Identifying Trends in the Sport/Event Industry NHL, NFL & CFL Other Trends…… The NHL, NFL and the CFL are becoming more interested in investing in the development of recreational sports for youths in order to attract more fans. They all have established programs encouraging youth participation in their sports. It is hoped that the youths and their parents become more involved in the sports. They will want to follow and support major-league teams. Sport/Event facilities are evolving into complete entertainment centers with interactive activities. These are facilities that were traditionally used solely for sport events or concert and now they're being used for many other activities.

Identifying Trends in the Sport/Event Industry (continued) Seat licenses and premium seating are growing trends in sports/event marketing because of the revenue sources (the amount of money that they are now bringing in. Many sport/event facilities are using permanent seat licenses and premium seating as revenue sources. These trends involve selling customers the right to buy tickets to events, or selling luxury boxes and suites, and seats in special sections of stadiums and arenas. Although premium seating is expensive the demand continues to grow. Stadiums and arenas encourage premium seating because it generates a sizable amount of income even though that type of seating is a small part of the overall seating capacity.

TRENDS People other than sports figures are now interested in owning teams, therefore famous names associated with teams raising awareness, promotion and possible revenues

Distribution Channel The path through which goods and services travel from the vendor to the consumer. A DC can be as short as a direct transaction from the vendor to the consumer or may include several intermediaries along the way such as wholesalers, distributors, agents and retailers.

Channel Management The process by which a producer or supplier directs marketing activity by involving and motivating parties comprising its channel of distribution.

Marketing Research Market research: identification of a specific market and measurement of its size and other characteristics.   Information for marketing research is collected from direct observation of the consumers such as: in retail stores, mail surveys, telephone or face-to- face interviews, and from published sources. The main objective is to find a real need and fulfill it in a most cost effective and timely manner.

Product Research Identification of a need or want and the characteristic of the good or service that will satisfy it.

Consumer Research Identification of the preferences, motivations, and buying behavior of the targeted customer.

Product/Service Management The process of creating and changing the information about a company's catalog of offerings. For example, many business websites have a p/s management specialist who maintains their online cat alog according to the current list of products and services that the company provides to customers.

Pricing Method adopted by a firm to set its selling price. It usually depends on the firm's average costs, and on the customer's perceived value of the product in comparison to his or her perceived value of the competing products. Different pricing methods place varying degree of emphasis on selection, estimation, and evaluation of costs, comparative analysis, and market situation.

Promotion The advancement of a product, idea, or point of view through publicity and/or advertising.

Selling The last step in the chain of commerce where a buyer exchanges cash for a seller's good or service, or the activity of trying to bring this about. 

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