Ch. 10 Test Answers – Flashcards
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Sport Management & Marketing Agencies Defined
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A business that acts on behalf of a sport property
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Sport property
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person, corporation, event , team , place, or concept
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Sport Management & Marketing Agencies Defined
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These agencies perform various actions including: -representation, negotiation, sales, licensing, marketing, or management
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Sport Management & Marketing Agencies Defined
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The agency represents or controls the rights to affiliate or associate with the sport property
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Honas agner
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irst to represent a sports- Louisville slugger
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The International Management Group
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IMG
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IMG
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established in 1960
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Client Management & Representation
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contract negotiations, marketing decisions, managing income, etc.
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Client Marketing & Product Endorsement & Placement
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promotion and total marketing of the client (i.e. securing endorsements) (middle-man)
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Event Creation & Development
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huge growth in sport television since the 1970s; fiscal rewards for new event creation (ex. Espn x-games, great outdoor games)
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Event Management & Marketing-
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outside agencies are needed to manage, market, and activate events
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Property Representation & Licensing
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promotional licensing & sponsor solicitation
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Procurement
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successful solicitation of financial or other resources on behalf of the sprt property
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Television Development & Production
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many opportunities & outlets for developing & producing TV programming
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Negotiation of Media Contracts
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packaging rights fees for the leagues and teams on various cable and broadcast networks( e.g. college football and basketball right to cbs, nbc, abc, espn, ect.)
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Sponsorship Solicitation & Consulting
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Most common function of these agencies (e.g. Pepsi sponsor of the Miami heat)
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Hospitality Management Services Services
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include transportation, mend, service planning & management, sponsor entertainment, awards, gifts, recognition, etc. (superbowl)
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Grassroots & Participatory Programs
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designed to build a following for a product, service or organization
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Grassroots programs
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usually targeted to participants such as children or adolescents who posses qualities to become a consumer
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Grassroots programs
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: MLB's RBI scholarship program
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Research & Evaluation
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post event impact analysis
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Downsizing
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reducing personnel because of a change in mission or direction
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Value Added
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perception by consumer of added product or service benefits
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Post event analysis
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how to evaluate how a certain event and events are going
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Strategic & Financial Planning & Management
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includes accountants, financial planners & advisors, investment specialists, & portfolio managers
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More than 1,000 sport management & marketing agencies
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Types of Sport Management Agencies
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More than 1,000 sport management & marketing agencies
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Not including city or state sport commissions, corporations, or divisions of leagues
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Full-Service Agencies
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provide a full range of services performed by in-house personnel (e.g., IMG, Octagon, Wasserman Media Group)
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Client Management
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must have visible and successful clients to be successful
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Event Management & Marketing
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creating, developing, and managing sport and lifestyle activities
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Television
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advise, negotiate, create and produce tv events
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Corporate Marketing
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navigate clutter and communicate to target demographics
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General Agencies
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provide a variety of services to clients but are not involved in all potential agency functions
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General Agencies
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representation, consulting, tram and venue services, hospitality and event management
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Specialty Agencies
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SportsMark Management Group focuses solely on event management & hospitality
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In-House Agencies
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professional league departments - departments or companies that preform sport functions on behalf of the products and divisions that parent company
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In-House Agencies
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sole client is themselves
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In-House Agencies
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NBA Events & Attractions
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Technical Skills
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written communication, budgeting, computer skills, accoutning knowledge, legal knowledge, ect.
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People Skills
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listening, networking, public speaking, negototion
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Organizational Skills
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strategic planning, suervising, designing ans managing research, stragetic planning and supervising
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In-host vs. Outsourcing
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if a client believes they can perform the agencies' functions after years of guidance, they may no longer use the agencies' services (i.e. prevenient in sports league)
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Conflicts of Interest
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firms represent leagues, teams, and athletes, so conflicts are inevitable
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Mergers & Acquisitions
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many companies merging into a few powerhouses
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Solicitation
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requesting support or assistance on behalf of a sport property from a potential sponsor
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Venue
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faclity or site where an event takes place
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Entitlement
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associating the name of the sponsor with the name of an event or facility in exchange for cash or other considerations
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Turnkey
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a program or product that the vendor excucutes without further invilvement frin the client
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Gatekeepers
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individuals or groups responsible for controlling the flow of proposals or soliciters to decision makers
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Arnold palmer
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