Thursday, January 15, 2009

Sports Marketing in a Weakened Economy

I found an article about how marketers are trying to re-vamp the falling fan attendance for many major sporting events.  The lower number of attendees to these events have fallen as a result of the worsening economy, mounting job loses, and uncertainty in world markets.  Many people simply cannot afford to spend the money as they have in the past on recreation and entertainment.  Marketers have implemented a number of strategies to reel the consumer back into the stadium seats.  Some teams have introduced the buy-now-pay-later offer that lures ticket-holders to go to games without paying until a later date.  Others have tried the buy-one-get-one-free season ticket offer, or giving back 10% of a season ticket purchase in the form of a gas card, or simply slashing the season ticket prices.  On top of the lowering amounts of ticket purchases is the fact that many teams are in the process of building brand new stadiums to house their home teams that cost in the millions of dollars.  Teams are finding it difficult to sell their most exclusive sponsorships: naming rights to the stadiums, which would bring in a lot of needed money.  It's sad to see teams and fans alike going through such rough times, but with the lower ticket prices, some fans will still be able to enjoy a night out with their favorite teams.

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