sport as a business

The awakening of sport as a business

Nowadays the sport has gained a new format. It is part of a booming industry: the sports entertainment industry. With part of this industry and its main product is that sport has taken on a new aspect in the eyes of all: from activity and mass practice sport has become a business with a large market and a high potential for sale and marketing.

Seen with product, the sport gains a new dimension before its analysts and managers. It is not just a physical activity, entertainment service or high emotional engagement exercise. It becomes part of a complex market structure with its characteristics and peculiarities.

Seen as a product, the sport has a market, it requires a strategy of promotion, marketing and communication. Its practitioners and fans must be analyzed in their demographic, psychographic aspects and their preferences and buying desires in addition to their emotional links that bind them to certain sports and make them choose certain sports.

As a product, sport has its value. Not only its marketing value, but above all its symbolic value and its value in the appropriation of lifestyles. The sport has an opportunity cost because its practice and assistance induce the practitioner and supporter to give up entertainment alternatives. Even companies like Doxxbet go further by offering the opportunity to earn a lot of money through sporting events.

Sport is a good product when it attracts many practitioners and fans and is capable of generating revenue for itself. A self-sustaining product that sells and sells itself in the market. And that means an increase in the number of fans and practitioners who buy sporting goods, consume related services, watch sports on TV and the Internet, read newspapers and magazines for sports news, listen to the radio, buy tickets and give preference to sports. products and services licensed by sports brands. The essential factor is the market of fans, practitioners, viewers and netizens, readers and listeners and athletes registered in the sports entities and, in the case of clubs, members.

Sport is an important area of work and is characterized as a product by having tangible and intangible elements. It can be defined as any form of physical activity that confronts one’s talent against an opponent. As a product, sport is no different from any other consumer product, as it has both tangible, main product, and intangible aspects (emotions and experiences generated by sport).

One of the main actions for successful sports management is the need for well-designed strategic planning. The importance of good planning is justified by the fact that it can detect, reduce and correct, and many possible errors that may occur. The impact of poorly planned management is far more serious than any other management problem, one person can be replaced and resources raised, but the consequence of poorly designed planning can lead to losses that can last for decades, which is why all precautions should be taken when preparing a sports management plan.

Other devices expose how difficult it is to understand sport as a product, besides the main product (the game itself) and, for its realization, the main components are the events / stars, the
ticket, the organization, the arena, the equipment, the uniforms and the image. In addition to them, there are related services (enthusiasm, sense of collectivity, rivalry, identification, success and others); there are also staff and processes (family-organization interaction, staff acting courteously); and, finally, the market, which comprises: the participating market (sports producers); the spectator market (viewers, fans); the voluntary market (aid to sport); the advertising market (important advertising media); the sponsoring market (they want viewer access and differ from the competition); and the affinity market (use of symbols, logos and trademarks depicting personalities from the sports world).

Sports marketing is the second largest source of income in the world, second only to tourism. Much of this source comes from football. The concept of sports marketing should be understood as a set of actions and productions in order to satisfy the preferences, needs and expectations of the sports consumer. The set of actions and benefits that are employed across two segments: the products and services that are built and relate directly to the consumer, and the marketing and product actions.

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