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Marketing in Sports – Guest Lecture by Mr. Ravi Kumar

OBJECTIVE

To understand Marketing in Sports.

TAKEAWAYS

The insightful lecture touched upon the following topics.

  • Strategy and competition position
  • Brand management
  • Price and distribution channels
  • Tools used in marketing
  • Customer lifetime value and Customer Relationship Management, ROI, web applications, and sales campaigns
  • Marketing product and sports marketing
  • Customer service, customer product/service, research, product development, pricing, distribution, advertisements, and promotions
  • Communication phase – key message, creative brief, inspiration, clarity, deliverable value, and objective of the brand
  • New ideas to target audience
  • Media strategy – the right channel to reach the target audience
  • Proper execution = ROI
  • Marketing mix: All strategies revolve around the target audience – sales, ads, promotions, personal selling, public relation, direct marketing, etc.
  • Importance of labelling – First impression of the product and the power of wilful ignorance
  • Nike is an excellent example of marketing intelligence – Understanding users’ needs and delivering value while adhering to the brand’s core principles

 

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