What tools should you use to identify sport marketing opportunities (2)?

Two days ago, we did a review of a set of tools used in the first step of identifying sport marketing opportunities. Today, we are going to focus on the second step of this process which consists in analysing the organisation.

In order to analyse the organisation, it is necessary to understand the purpose, aims, and goals of an organisation in addition to the needs of an organisation’s stakeholders. There are four tools that help to do that:

• The Mission statements reveals the purpose of an organisation: why it was created. what services and products it provides, and to whom they are provided.
• The Visions statements is a written record of the desired achievements of an organisation in the future.
• Organisational Objectives are targets that must be reached in order to make the vision a reality.
• A Stakeholders analysis involves assessing the divers agendas of all individuals, groups, and organisations that have an interest in a sport organisation.

Next time, we will talk about the next step of the process of identifying sport marketing opportunities: Analyse market and consumers.

Enough theory for today! Tomorrow’s post will feature a US enterprise doing a great job at developing retail traffic driving promotions that leverage unique collectibles.

Source:

“Introduction to Sport Marketing: A Practical Approach” , Aaron C.T. Smith

What tools should you use to identify sport marketing opportunities?

Before making sensible marketing decisions, it is primordial to conduct preliminary research and analysis. It is important, for example, to know what opportunities exist in the marketplace, what competitors are doing, what a sport organisation is good at doing, and what consumers actually want. The first stage of the sport marketing process is therefore to identify sport marketing opportunities.

The first step of identifying sport opportunities is to analyse internal and external environments. To do so, marketers can use a set of practical tools:

• You can use a SWOT analysis to examine the strategic position of an organisation. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This tool provides a clear look at the “big picture”.
• The macro-environment of an organisation can be visualized using a six factors model. These factors are: Political, Economic, Legal, Technological, Social and Physical. It is important to understand the demands, constraints and possibilities that each of these elements migh bring to the sport organisation.
• The next step is to conduct a competitor analysis including immediate competitors (similar products meeting similar needs in a similar way), Secondary competitors (substitute products meeting similar needs in a different way), and Indirect competitors (different products that satisfy similar needs, or encourage consumers to seek satisfaction of different needs instead).
• In addition to conducting a competitor analysis, it is advisable to conduct a Five Force Analysis (Michael Porter). These five forces are: Intensity of rivalry among industry competitors, Threat of new entrants, Bargaining power of buyers, Bargaining power of suppliers and the Threat of substitute products and services.

The next step will consist in analysing the organisation. We will review this next step shortly. Stay tunned!

Source:

“Introduction to Sport Marketing: A Practical Approach” , Aaron C.T. Smith