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The Sport Product. Chapter 6. OBJECTIVES. To understand what is meant by a product. To appreciate the unique nature of the sport product. To become acquainted with the various product forms and the elements of product strategy. PRODUCT. Most important element of the marketing mix.
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The Sport Product Chapter 6
OBJECTIVES • To understand what is meant by a product. • To appreciate the unique nature of the sport product. • To become acquainted with the various product forms and the elements of product strategy.
PRODUCT • Most important element of the marketing mix. • Central to any definition is assertion that product is something that satisfies a need and that it exists in more than one form – a good, service, idea, person, organization, place, or activity. • Tangible vs. intangible
PRODUCT LIFECYCLE INTRO GROWTH MATURITY DECLINE Sales & Profits 0 Time (Solomon, Stuart, Carson & Smith 2003)
SPORT PRODUCT • The Sport Product Any good, service, person, place, or idea with tangible or intangible attributes that satisfy consumer sport fitness or recreation needs or desires.
WHY IS SPORT SPECIAL? • The sport event is viewed as the core product and it is elements of this core that give the sports product its unique nature. • Intangible and subjective. • Inconsistent and unpredictable. • Simultaneously produced and consumed.
WHY IS SPORT SPECIAL? • Greater emphasis on product extensions than core product. • Generally consumed in public and so the experience is effected by group dynamics. • Incomparable emotional attachment and personal identification. • Sport pervades all elements of life and enjoys an almost universal appeal. • Sport is both a consumer and industrial product.
SPORT PRODUCT FORMS primary products Primary Products derivative products core products expand events facilities athletes support media teams merchandise leagues skilled services clubs
SPORT BRANDS • Brand • the name, logo and other outward symbols that distinguish a product or service from others in its category. • Involves: • Brand name • Brand mark • Trademark
SPORT BRANDS • Brand Equity • “a set of liabilities and assets linked to a brand, its name and symbol, that add to or subtract from the value provided by a product or service to a firm and/or to that firms customers.” • (Aaker, 1991) • “the difference in value between a branded product and its generic equivalent.” • (Shank, 2005)
SPORT BRANDS • Licensing • “a contractual agreement whereby a company (licensee) may use another company's trademark in exchange for a royalty or fee. A branding strategy through licensing allows the organization to authorize the use of brand, brand name, brand mark [or] trademark in conjunction with a good, service, or promotion in return to royalties.” • (Shank, 2005, 235)
SPORT BRANDS • BrandExtensions • the use of an already established brand and the loan of a brand from one entity to another. • Examples: • Mascots • Team publications • Sports camps and clinics • Merchandise stores • Youth leagues
SPORT BRANDS • Six keys to successful brand extensions: • The strength of the parent brand. • Perceived fit between club and extension. • Promotional support offered by sport organization to the extension. • Quality of the extension product. • Distribution strategy. • Management of the extension.
SPORT PACKAGING • Since each element of the sport product is interrelated, it is easy to combine the elements to make a full entertainment or participant sport package. • Examples: • The day out at a baseball game. • Full service fitness centers.
