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PERLS Chapter 10 Sport Management and Marketing Agencies

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6 years ago

Date created

Mar 1, 2020

Cards (21)

Section 1

(21 cards)

downsizing

Front

Becoming a smaller organization by reducing personnel or departments, often because of a change in the mission or direction of the organization.

Back

venue

Front

A facility or site where a special event or sport activity takes place.

Back

Practical Application

Front

•Critical thinking in agency activities -In-house vs. outsourcing options -IMG College •Ethics in agencies and revenue sources: advertising by spirits brands

Back

client

Front

Sport-related person, brand, property, media company, or concept represented by a sport management and marketing agency.

Back

Types of Sport Management and Marketing Agencies

Front

Types include full service, general, and specialty

Back

grassroots programs

Front

Programs targeted to people at the primary level of involvement, usually participants rather than spectators.

Back

turnkey

Front

A program or product that the vendor executes without further involvement from the client.

Back

In-House Groups

Front

•Departments that perform sport functions on behalf of the parent company •Have only one client: themselves •Function as gatekeepers in reviewing opportunities presented to them •Work with other units of the corporation

Back

solicitation

Front

Requesting support or assistance on behalf of a sport property from a potential sponsor.

Back

Sport management and marketing agency:

Front

a business that acts on behalf of an entity involved in the sport industry -Person, corporate brand, media company, property (team, venue, etc.) or concept

Back

gatekeepers

Front

Individuals or groups responsible for controlling the flow of proposals or solicitations to the decision maker.

Back

Challenges Facing Agencies

Front

-Uncertainty in client base -In-house vs. outsourcing -Conflicts of interest -Mergers and acquisitions -Labor unrest

Back

inventory

Front

The assets that a sport property has to sell, including not only its quantity but also its characteristics and traits.

Back

Functions of Sport Management and Marketing Agencies

Front

Some agencies perform only one function (or a few) for four key stakeholder groups - talent, properties, brands, media companies

Back

Agency functions

Front

-Strategic planning and management -Sponsorship and licensing solicitation -Event creation, management and marketing -Contract negotiation -Marketing activation -Content development -Financial planning -Research and evaluation

Back

Careers in Sport Management and Marketing Agencies

Front

•Diverse and challenging •Entry requirements •Educational background •Required skills

Back

value added

Front

The perception, by the consumer, of added or augmented product or service benefits.

Back

entitlement

Front

Associating the name of a sponsor with the name of an event or facility in exchange for cash or other considerations.

Back

General Agencies

Front

•Integrated approach to development of client programs •Business components of 16W Marketing -Athlete, coach, and broadcaster representation -Corporate consulting and property marketing -Hospitality and event management (turnkey)

Back

Specialty Agencies

Front

•One category of service -Millsport -Joyce Julius & Associates

Back

Full-Service Agencies eg IMG

Front

-Strategic planning, sponsorship solicitation -Event management, contract negotiation -Marketing activation, research and evaluation

Back