SM%2004_opportunities

SM%2004_opportunities - IntroductiontoSportMarketing...

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Lecture 4:  Sport Marketing Opportunities Introduction to Sport Marketing 
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Lecture 4. Overview Identify the key activities required to identify sport marketing  opportunities. Explain the elements and purpose of a SWOT analysis. Conduct a macro and micro environmental analysis. Describe the process and importance of a competitor  analysis. Identify some of the introductory issues associated with  market research, including its application and importance to  identifying marketing opportunities.
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Principle 4.1:  The Sport Marketing Framework describes the four stages of sport  marketing.
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Stage 1. Identifying Sport Marketing Opportunities
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Stage 1. Identifying Sport Marketing Opportunities Important to conduct preliminary research and analysis in order to make  sensible marketing decisions  What opportunities exist in the marketplace  What competitors are doing  What a sport organization is good at doing What consumers actually want  Three forms of analysis: 1. Analysis of internal and external environments 2. Analysis of the market and consumers  3. Analysis of the organization  These three forms of analysis are conducted at approximately the same  time
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Analyse the Internal and External Environments 
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Analyse Internal and External Environments The  internal environment  refers to the unique  circumstances of the sport organization for which the plan is  being developed  The  external environment  refers to the marketplace in  which a sport organization operates  Tools used for analysis 1. SWOT analysis (with external environment analysis)  2. Competitor analysis (including the Five Forces analysis)  
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Principle 4.2 : The first step in identifying sport marketing opportunities  is to analyse the internal and external environment using the tools of  SWOT analysis and competitor analysis SWOT:  strengths weaknesses opportunities threats   Examines the strategic position of an organization from the  inside (strengths and weaknesses) and the outside  (opportunities and threats) Look for no more than five factors under each of the four  headings   
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SWOT Guidelines Strengths resources (e.g. financial, staff, volunteers) skills (e.g. talents of management, staff and volunteers) advantages (compared with competitors) Weaknesses lack of resources (e.g. financial, staff, volunteers) lack of skills (e.g. amongst management, staff and volunteers) disadvantages (compared with competitors) Opportunities favourable situations in the external environment
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SM%2004_opportunities - IntroductiontoSportMarketing...

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