Strategic Sport Marketing Plan Report

Question

Description

Hi,

Instructions for this task I will attach in a word file

1. Choose a potential new sport business product or service – or

determine how you will significantly modify an existing one.

2. Get approval of your new sport business product or service

from your teacher

3. Reports must be supported by academic research (there is no

set number of research and contemporary resources required

for this assignment except that students must incorporate a

minimum of eight journal articles).

4. The following interactive outlines the components you will

need to include within your Strategic Sport Marketing Plan

Report:

Assessment Instructions:

This interactive outlines what you will need to include on your report (see

below) and expand on each of the components listed below:

 Executive Summary

The Executive Summary is written last but appears first.  This summary

addresses the key focal points only.  It is a concise review of the whole plan. 

This summary is very important so prepare it with care!  Note: This should be

no more than two pages.

 Introduction and Background

This section includes the organisation’s mission statement (purpose of the

business) and gives a general overview of the company.  The overview can

include information about top-line sales, product categories, current

marketing, geographic markets, and any other basic background information

to help someone become familiar with the company.  This normally is

between 2-4 pages.

 Product and Services

In this area, please describe the current sport products and services offered

by the company (Product Offerings).  This section will vary in pages based on

product or service.  It is important to be detailed in your coverage of this

section – more is always better.  Consider addressing the following

questions: 

1. Does their product offering include a “physical” sport product (sporting

good) or a sport “service” product (sport event) or is it a combination of both?

2. What makes their products/services unique? (Their key point(s) of

difference vs. similar products from competitors)

3. What is the “core” product offering and what are some of the

supplementary products or services they offer (product extensions)?

 Situation Analysis

The situation analysis is critical because you cannot plan without knowing

where you are!  In this area you gather information (market research) from

inside (internal) and outside (external) about the company and market

environment. While this section will normally be 2-4 pages, it will depend on

how many of the following areas are relevant and hence included in the report

1. Economic Climate— ex. macro and micro conditions and interest rates and

currency fluctuations

2. Legal Environment—  taxes, standards, licenses, free-trade agreements,

trademarks, patents, liability etc.

3. Demographics— changes and their potential effects on target markets

4. Demand trends—  supply and demand for sport product

5. Product Life Cycle-where in the product life cycle is their current core

product? Any New Products being launched?

6. Technological trends— how is technology impacting/changing the sport

company’s products and market? Will it still be around in 5 years?

7. Competitor Analysis— who are key “direct” competitors to your company?-

what makes their products better? Who are “in-direct” competitors? 

8. SWOT Analysis—  Internal Strengths & Weaknesses /External

Opportunities & Threats –from your sport organisations perspective

 Analysis of Target Markets

This section will normally be 4-7 pages and include the following: 

Macro (overall view of group incl. wholesalers, retailers & purchasers)

and micro views (specific consumer) of the target markets Remember

STP: Segmenting, Targeting & Positioning! 

o Clearly understand consumer purchase decision & key influences

o Consider the “Black box” consumer concept—  many variables may

go into the purchase behavior and decision, but only one output

seen (buy or not buy)

o How will you “segment” your consumers? Based on what?

Market Size

o Based on info from situation analysis, what is potential “size” of your

target market?

o Growth, demand trends, potential number of people

Market Research

o Primary, secondary information about target market & consumer

o Primary-personal interviews

o Secondary more general information (like SGMA reports-Sport

Participation)

o Quality of decisions depends on quality of information

o Identify and Segment target markets based on usage (heavy,

medium, light?)

Benefit segmentation - group consumers on why-purchase based on

perceived/actual benefits received 

Sport consumers are influenced by many factors. Identify the key ones as

they relate to your Sport Marketing Plan/Product.  Clearly state who your

target consumer is!

 Sport Marketing Objectives

Once you complete the mission statement, situation analysis, and identify the

target markets, you need a “game plan” to achieve the organizational mission;

this involves setting goals that when achieved lead to completing the mission. 

It is important to concisely (1-2 pages) establish marketing objectives that are

“results-oriented” (attainable, motivational, and measurable). 

The process for setting objectives includes:

o Clarify competitive differential advantage to meet consumers’ needs

& wants

o Be specific about your goals/quantify

o Set timeframe

o Constantly evaluate objects & need to modify as situation changes

 Sport Marketing Strategies and Tactics

Marketing strategy consists of the complete plan for accomplishment of the

organization’s mission and stated objectives.  In other words, this is your

action plan!  As such, this is the most significant part of the marketing plan

and will probably be anywhere between 5-8 pages based on the size of the

industry and the scope of the research. 

Traditional Marketing Strategies

New market penetration

o First may be best / but risky

o Can “fix” positioning in minds of consumer

o Have existing sport consumers buy at a higher rate (escalator

concept based on usage rates) ex: Health Club members-retention

Market expansion

o Goal is to increase current product sales to new sport customers -

increase market share

o Create new promotions/develop awareness

Product Development      

o Create new products for existing customers (product line

extensions)

o What other products do sport customers need to satisfy their “sport

product consumption experience”?

Diversification     

o New products for new sport consumers

o Niche Marketing-target small, definable segment of specialized

consumers

Brand Management

o Meaning and value of brand

o Positioning

o Team as Brand-high loyalty

Relationship Marketing

o Interactions between company and consumer

o Touch points / one-to-one

o Cut through mass media marketing clutter

Tribal Marketing

o Focuses on connections between consumers

o Survive on emotional connections

o Linked by a shared passion/emotion

Tools for Implementing Strategy

Interplay between the 8 P’s creates the “marketing mix”

1. Product

o Meet or exceed needs & wants of consumer

o Defining “sport product” may be difficult-may be wide range

o Hard goods vs. services vs. events

o Mass market vs. customization (ex. Golf clubs-Callaway/Titleist)

o Benefit segmentation

2. Price

o Pricing theories

o Supply-demand

o Utility

o Elasticity

o Marginal costing

3. Breakeven Analysis

o How many units needed to sell at certain price to cover costs

o Fixed and Variable costs

o Cost per unit

4. Place

o Place of distribution-store, fitness centre, stadium venue etc.

o Brand image vs. volume

o Sport Consumer experience-multifaceted/many touch points

o Virtual place-internet – e-commerce

5. Promotion:

Promotion is one of the most visible aspects of sport marketing. However,

promotion includes more than just advertising. Good promotional campaigns

involve a high level of creativity, and should:

o Not just advertising

o Very visible side of sport marketing

o Create awareness

o Manage image & positioning

o Provide entertainment

o Activate purchase decision

o High level of creativity

6. Public Relations

7. People

8. Processes

9. Physical Evidence

 Implementation and Control

This section will normally be 2-4 pages (with possible additional pages of

support with calendars/Gantt charts) and address the following

considerations:

Implementation

Execution

Team driven

Project Calendar (Gantt Chart) & Planning & Critical Path Method

o Identify key tasks

o Sequence

o Allocate time required to complete

o Build calendar/Gantt Chart (allow for concurrent sequencing of

certain tasks as needed)

Control

Marketing information system/feedback-what type of information do you need

to evaluate success?

Evaluation

o What and when do you evaluate?

o Against specific objectives in your marketing plan (milestone check

points)

o Regular monitoring