Economics of Sport

Economics of Sport - Principles of Sport Principles of...

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Unformatted text preview: Principles of Sport Principles of Sport Management Management Fall 2011 Fall 2011 Nature of Sport & Its Nature of Sport & Its Economic Impact Economic Impact Growth of the Sports Industry Growth of the Sports Industry Until the 2008 economic recession, the Until the 2008 economic recession, the sport industry was experiencing sport industry was experiencing tremendous growth. tremendous growth. Strategic and affective sports Strategic and affective sports management is playing an important management is playing an important role in this emerging industry. role in this emerging industry. What is Sport? What is Sport? “ “ A SOURCE OF DIVERSION A SOURCE OF DIVERSION OR A PHYSICAL ACTIVITY OR A PHYSICAL ACTIVITY ENGAGED IN FOR ENGAGED IN FOR PLEASURE.” PLEASURE.” What is Sport? What is Sport? Five Characteristics of Sport Five Characteristics of Sport 1.) Be playlike in nature; 1.) Be playlike in nature; 2.) Involve some element of competition; 2.) Involve some element of competition; 3.) Be based on “physical prowess” 3.) Be based on “physical prowess” 4.) Involve elements of skill, strategy and 4.) Involve elements of skill, strategy and chance; and chance; and 5.) Have an uncertain outcome. 5.) Have an uncertain outcome. Sport is escapism. Sport takes us away from our daily routine and gives us pleasure. Passionate Consumers Passionate Consumers THE SPORT INDUSTRY’S CORE ASSET IS “CUSTOMERS WHO CARE.” Passion sells tickets....
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Economics of Sport - Principles of Sport Principles of...

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