To understand Marketing in Sports.
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