Accounting In Business Sports Marketing

Sports And Entertainment Marketing - A Research On Asian Market

Marketing research based on the financial proposition and influences of consumers is a worthwhile sports marketing effort.For effective sports and entertainment marketing strategy in a specific region or country it is important to understand the local consumer psychology and behavior as well as buying patterns in that region.Various economic, social and personal factors are also taken into account to determine the right marketing strategy.

With increasing population and fast-growing economy many developing countries are turning into busy commercial centers in the world.Sports and entertainment marketing directly plays a key role in the nation's economic growth and influence culture and lifestyle to a great extent.For example, the sports marketing strategies that bring success in America might not be effective in China due to sharp difference in culture and lifestyle between the two nations.Hollywood, though, has been successful in marketing its entertainment products worldwide.

Leading sports equipments and accessories manufacturers, not yet successful like Hollywood, are trying to capture the swelling markets in Asia, especially countries those are doing well in sports.Research conducted through out retail marketing outlets of a country digs out a few factors that affect sports goods purchase are:

Reasons of purchase like for exercise or for genuine practicing

Level of income

Types of sports goods and accessories

Product factors like quality, style, availability, etc.

People influencing purchasing such as spouse, children and the like

Sources and availability of information about where and how to purchase

Impact of advertisements

Preference of brands such as Adidas, Nike, Reebok are the most preferred brands

Time and effort given in sports

Where purchase takes place like departmental store or original sports goods store

There is no denying that great potential exists in the Asian sports market. However, questions concerning the uncertainty of economic development and cultural differences slow down the process of sports marketing in Asian countries by stimulating confusion among American sports marketers who strive to build up effective sports marketing strategies.

According to experts the marketing tactics that are needed to be modified to complement the Asian market condition are:

Choice of target market segments

Deciding the services and products to be offered

Settle on appropriate pricing strategies

Designing promotional campaigns

Generating a proper distribution system

Unlike the old days, when much of the monthly income was spent on basic necessities the present Asian consumers spend more money for leisure such as entertainment and sports products.But sports marketing news reveals that unlike Americans not all buyers in Asian countries are ready to spend a certain fraction of their earning on sports gears.This trend can be interpreted as lack of enthusiasm in sports or expensiveness of sports products in those countries.

The huge difference in social and cultural aspects is also there.But with globalization of almost every market andimplementation of open-market policies Asian lifestyle is changing sharply.The most positive sign is the growing health and fitness consciousness among people in the east.Regardless of age, gender and occupation more and more people in Asia tend to buy sports product for both exercise and entertainment at the same time, which is indeed a good news for international sports marketers.

Steve is a media professional and writes for different online publications on media and advertising industry.For more sports marketing news and information on entertainment marketing he recommends you to visit http://www.brandweek.com/.

Article Source: ArticlesBase.com

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