The Principles Of The Marketing And Promotion Of Events Essay

The Principles Of The Marketing And Promotion Of Events - Essay Example Before deciding on the marketing approach, it is necessary to ensure that it is aligned with the company’s mission and vision statements (Bowdin et al., 2011). The next principle of strategic marketing planning process for events is referred to research and analysis of both external and internal environments as well as marketing mix analysis. Crowther et al. (2015) recommend embracing a plurality of research methods and adopting multiple research methods. The marketers need to understand various external factors (including political, economic, social, technological, environmental, and legal) that might have an impact on the company’s strategy. Furthermore, it is important to understand key event attendees, their motivation, demands, and expectations of the event, their lifestyle, interests, leisure needs, etc. (Bladen 2012; Bowdin et al. 2011). Understanding of internal event environment also is important, as well as analysis of current competition (Bowdin et al., 2011) . One of the great tools that can be used is the analysis of strengths, weaknesses, opportunities, and threats (SWOT). Thus, for example, while analyzing internal environment for managing mega sports events, it is possible to consider good infrastructure in place, good political standing, volunteers as major strengths, while lack of infrastructure, limited budget, lack of human resources can be viewed as a weakness (Karadakis et al. 2010). Opportunities may include the growth of the tourism industry and increase the quality of life, while threats may vary from pollution to political instability (Karadakis et al. 2010). This information is the valuable tool in hands of marketers as it provides them with further insights on how better to develop strategies and tactics related to event product, its place, processes, partnerships, people, and communication (Getz 2012).

Sports Marketing Plan Essay Example | Topics and Well Written Essays - 500 words

Sports Marketing Plan - Essay Example The prognosis is that while the American economy is recovering from the recent crisis, the recovery will continue to run at a slow pace (Amadeo, 2012b; Dewan, 2012). In the short term, the presidential elections will shape spending and other key factors that impact the economy (Moffatt, 2012). Some US regions will experience more pronounced growth compared to others (Kotkin, 2012) It can be surmised from the available evidence that the regulatory and legal system in the US continues to provide a strong foundation for successful small and medium businesses, and constitute a bulwark for established large multinationals. Legal requirements for gymnastics clubs share many aspects in common with regulations and laws covering small and medium businesses, together with industry-specific aspects, such as insurance coverage to shield owners and employees from injury liability, among other things (Kotkin, 2012; Newman, 2012; Mechanic, 2007; K&K Insurance Group, 2009). Demographic trends include a downward shift in the white majority birth numbers, now constituting less than 50 percent of total new births in the US (Dougherty and Jordan, 2012). As of 2011, out of a population of 313.84 million, 20 percent were 14 years old and below, and about 87 percent were below 65 years old. As of 2007 whites made up close to 80 percent of the population, followed by blacks at 13 percent, Asians at 4.5 percent, and other minorities making up the rest. The large Caucasian majority and the large young population are important demographic characteristics relating to the current and potential target markets for X Gymnastics (Central Intelligence Agency, 2012).. Data from US Gymnastics show that school-age females continue to be the most prolific participants in gymnastics programs all over the United States. Women in general outnumber men in memberships in different gymnastics