Here are two infographics that do a great job illustrating the growing competition for discretionary dollars from US consumers in the sports/entertainment marketplace…In addition to providing a great platform for opening up a discussion about the competition for the entertainment dollar in class, these graphics also offer a great way to introduce the concept of a global marketplace.
Click the images below to be redirected to the original source to see the complete infographic. Â Enjoy!
Congrats to the students in Julie Eckhart’s sports marketing class at Westosha Central High School in Wisconsin for currently sitting in first place in SCC’s fantasy football sports marketing competition. Â After knocking it out of the park with the response to the first sports marketing challenge (development of a sports marketing plan), they look to build momentum as we head into week four of our competition’s season. Â Kristen Torkelson’s students at Bend Senior High in Oregon are just a few points behind with Karen Russo’s class at Hinsdale Central in Illinois in a close third place. Â Kirk Helferich’s class at Kent Innovation HS in Michigan is the only other team with over 400 points at this point, but there is still a LOT of season to play with a number of crucial sports marketing challenges hanging in the balance!
Our participants are submitting their responses to sports marketing challenge #2 in which they are required to create a branding strategy for their franchise while challenge #3 (publicity / community relations) was distributed today. Â The league office is looking forward to seeing what the students come up with! Â Follow along via our blog (or @sportsbized on Twitter) for updates as the season rolls along and be sure to encourage and support those schools in your local area!
We also have a few individual schools to recognize for their responses to the first sports marketing challenge.
Of all the functions of marketing, one could arge the establishment of an effective price point could be the most critical.
Teams across sports consistently tinker with pricing strategies in an effort to find the right formula for maximizing franchise revenues. Â Sometimes those strategies work, sometimes they backfire.
Two seasons ago, the New Orleans Pelicans dropped ticket prices by 10%. Â The decision resulted in a 19% overall increase in ticket sales that season. Â And this season, as the Brooklyn Nets face the prospect of a challenging season on the court, Bloomberg hasÂ reportedÂ the franchise will reduce ticket prices by an average of 24% in 2016-17.
Earlier this year, BusBud published an interesting infographic that examines NBA ticket prices and offers some interesting comparisons. Â Which teams offer the greatest ROI? Â When is the best time to buy? Â These questions and more are discussed in the graphic below.