SPH-M 211 Chapter 10 (Sport Agencies)

What are the functions performed by sport management and marketing agencies?

- Event creation - Management and marketing - Contract negotiation - Marketing activation - Content development - Financial planning - Research and evaluation - Strategic planning and management - Sponsorship and licensing solicitation

In-house Group

A collection of employees who work directly for a property or brand to provide services similar to those commonly performed by outside agencies

Venue

A facility or site where a special event or sport activity takes place

ROI Analysis

A method by which the output or outcome of an investment is calculated in light of the dollars or resources spent on that investment to determine the investment's relative success

Stakeholder

A person or group with a specific interest or stake in something within the sport industry

Turnkey Program

A product or service offering that a vendor executes without further involvement from the purchaser

Client

A sport related person, brand, property, media company, or concept represented by a sport agency

Strategic Planning

A systematic process of envisioning a desired future and translating that vision into broadly defined goals or objective and a sequence of steps to achieve them.

What are some examples of how you can apply ethical decision making and critical thinking skills to the activities of sport man- agreement and marketing agencies?

An example of critical thinking is IMG purchasing the rights fees from collegiate athletic departments. An example of ethical decision making was the NBA choosing in 2009 to allow alcohol advertising to be next to the court and to be seen on camera.

Entitlement

Associating the name of a sponsor with the name of an event, facility, or similarly unique offering in exchange for cash or other considerations

A psychology degree is preferable for those entering careers in sport management and marketing agencies.

False

What are some of the benefits of bringing functions such as sponsorship in-house instead of outsourcing them to sport management and marketing agencies?

In-house agencies have only one client—themselves—and function as gatekeepers in reviewing opportunities presented to them by other entities. By bringing sponsorship, licensing, and broadcasting in house organizations believe that they will have more control and generate more income while cutting the expense of agency fees.

Gatekeepers

Individuals or groups responsible for controlling the flow of proposals or solicitations to the decision maker

What was the first sport management and marketing agency?

International Management Group (IMG)

Founded in 1960, IMG benefited from being the first and best-known sport management and marketing agency. What are the benefits of that legacy to the current WME/IMG? What challenges might a company of WME/ IMG's scale and breadth face in the current competitive climate and industry landscape?

Legacy allows for attraction of many clients and respect within the industry Events that have affected the competitive situation faced by IMG is the creation of specialty agencies as well as the growth and importance of media

Grassroots Programs

Programs targeted to people at a primary involvement level, usually participants rather than spectators.

How are specialty agencies different from full-service sport management and marketing agencies?

Specialty agencies focus only on one of the services that a full-sport sport management and marketing agency focus on

Inventory

The assets that a sport property has to sell

A full-service agency performs strategic planning, sponsorship solicitation, marketing activation, and event management tasks.

True

Specialty agencies specialize in a specific type of service or a specific stakeholder clientele.

True

_______________ can occur when an agency represents a free-agent basketball player as well as several NBA teams.

a conflict of interest

Which of the following functions involves tournament operations, hospitality and entertainment, fan engagement, sponsorship and ticket sales, and public relations?

event management and marketing

What type of agency is Excel Sports Management?

specialty

Which of the following sport management and marketing agency functions is undertaken for all four main client groups (i.e., talent, properties, corporate brands, media companies)?

strategic planning

Sport management and marketing agencies perform functions for industry stakeholder groups defined as

talent, properties, corporate brands, media companies