- Information
- AI Chat
MKTG 3324 Assignment 1 - Grade: A+
Sports Marketing (MKT 4381)
Angelo State University
Recommended for you
Students also viewed
- Expert Session 5 Quiz - This is one of the quizzes I had for my digital and social media marketing classes.
- Expert Session 4 Quiz - This is one of the quizzes I had for my digital and social media marketing classes.
- Case Study 4 Beyonce - Grade: A+
- Case Study 3 e2 Kickstarter Campaign
- Case Study 2 AEO - Grade: A+
- Case Study 1 Disney - Grade: A+
Preview text
Hope Miller
MKTG 3324
Randall
15 July 2021
Assignment 1: “Olympic sport of schmoozing eludes corporate sponsors” By Anne D’Innocenzio Sports and sporting events have been known to draw a crowd and create a following, which makes it a prime opportunity for marketing. Sports marketing takes place at all levels of sports from youth sports, to collegiate sports, to professional sports, and even the Olympics. Corporate sponsorship has been a key part of the Olympics since 1985, but in her article, Anne D’Innocenzio says that things will look a little different for the 2021 Tokyo Olympics.
Throughout the Olympics, worldwide sponsors hope to expand their business by getting new deals, deepening relationships with current clients, and captivating the attention of other countries to possibly pursue a business venture there through their marketing campaigns. Companies pay an estimated $400 million in each four-year cycle on marketing programs and sponsorship, which gives these companies marketing rights to one summer and one winter Olympics, but due to the uncertainty surrounding
the COVID-19 pandemic, these networking opportunities have been cut back from previous Olympic games. Although the Tokyo Olympics will now be a mostly TV-event, corporate sponsors still see the games as a huge marketing opportunity. These corporate sponsors will still have some networking opportunities through social media, remote conferencing with clients, or even by hosting their own viewing parties. The uncertainty of the pandemic has created many different challenges for corporate sponsors that they have not seen in previous Olympic games, but there is no doubt that there will still be benefits that come from sponsorship.
One of the major attributes that sets sports marketing apart from traditional marketing is the emotional connection that is tied to it. Tony Pace, owner of Cerebral Graffiti and former chief marketing officer of Subway, worked with Coca-Cola to sponsor the torch relay for the 1996 Olympics in Atlanta, and has been involved in every Olympics for the last three decades. In Anne D’Innocenzio’s article, he says that having clients be a part of the physical event can bring so many benefits. He remembers when Michael Johnson broke the world record for the 200-meter dash in the 1996 games and Coca-Cola threw together a meet-and-greet the next day for their bottlers and business partners. Most people consider business decisions to be strictly logical, but Tony Pace says that does not give enough weight to the emotional element of the decisions. The people that were there at that meet-and-greet felt like they had been given a gift. Tony Pace
Works Cited
D'innocenzio, Anne. “Olympic Sport of Schmoozing Eludes Corporate Sponsors.” AP NEWS , Associated Press, 15 July 2021, apnews/article/sports-2020-tokyo-olympics-business-health- coronavirus-pandemic-915d4104f9affc21c927d8818860429e.
MKTG 3324 Assignment 1 - Grade: A+
Course: Sports Marketing (MKT 4381)
University: Angelo State University
Students also viewed
- Expert Session 5 Quiz - This is one of the quizzes I had for my digital and social media marketing classes.
- Expert Session 4 Quiz - This is one of the quizzes I had for my digital and social media marketing classes.
- Case Study 4 Beyonce - Grade: A+
- Case Study 3 e2 Kickstarter Campaign
- Case Study 2 AEO - Grade: A+
- Case Study 1 Disney - Grade: A+