All articles tagged with #sports marketing
Faith Kipyegon attempted to break the women's mile record by running under four minutes, but the event was marred by exaggerated media hype and flawed scientific assumptions. Despite the effort and improvements, she fell short, highlighting how marketing and misunderstood science can distort expectations and undermine genuine achievements in women's sports.
Nike exceeded expectations in Q4 with a smaller revenue decline and higher profits, driven by a focus on sports product innovation and marketing under CEO Elliott Hill, despite challenges in China and a 12% revenue drop to $11.10 billion.
New Balance is entering the basketball market with a focus on signing top prospects like Cooper Flagg, who is expected to be the top pick in the NBA Draft. The company aims to grow into a top-three global athletic brand by investing in basketball, leveraging Flagg's high profile and potential signature shoe development, as part of its broader strategy to challenge industry giants Nike and Adidas.
New Balance, historically known for its 'Dad Shoe' image, has successfully rebranded itself by signing top athletes like Cooper Flagg, Shohei Ohtani, and Coco Gauff, to appeal to a younger, more diverse audience and increase its market share, aiming for over $10 billion in revenue while maintaining its core product identity.
Toyota is reportedly ending its $835 million sponsorship deal with the International Olympic Committee after the 2024 Paris Olympics, citing dissatisfaction with how the IOC used the sponsorship money. The deal, which began with the 2018 Pyeongchang Winter Games, is the IOC's largest sponsorship. Toyota previously pulled its Olympic advertising during the Tokyo 2021 Games due to public opposition. The IOC, which heavily relies on broadcast rights and sponsorships for income, is expected to seek a new vehicle sponsor if Toyota exits.
College basketball star Caitlin Clark's entry into the WNBA comes at a critical moment for the league, with hopes of elevating its cultural significance and financial standing. While facing challenges such as lower salaries and limited media coverage compared to the NBA, the WNBA is making strides in marketing and expansion. Clark's arrival, along with other college stars, is expected to accelerate the league's growth, attracting new fans and sponsors, and potentially securing a lucrative media rights deal.
MLS clubs are maneuvering to capitalize on Lionel Messi's arrival, lobbying for home games against Inter Miami to boost revenues by double-digit percentages. The challenge is to convert Messi fans into fans of their own teams, with clubs implementing creative ticketing schemes and fan engagement strategies. However, the uncertainty of Messi's availability for all games poses a dilemma, as clubs aim to manage expectations and prevent disappointment while still leveraging the commercial opportunities presented by the "Messi Effect."
The romance between Taylor Swift and Travis Kelce offers valuable marketing lessons. By embracing audience expansion, the NFL has attracted new fans, particularly young women, without alienating existing ones. Marketers should consider psychographics to tailor appeals to different motivations for fandom. Creating a sense of belonging is crucial to converting newcomers into regular viewers. Leveraging human co-branding and appeals to fun and fantasy can strengthen personal brands and attract positive attention. Lastly, brands should not be limited by geography, as faraway fans can be highly invested in events and more likely to make purchases.
Alpine's recent partnership with US investors, Otro Capital, RedBird Capital Partners, and Maximum Effort Investments, will help boost the team's revenue, hospitality, sponsoring, licensing, and merchandising. The involvement of Hollywood star Ryan Reynolds and his associates Rob McElhenney and Michael B. Jordan will add to the sports and entertainment marketing expertise that the Americans bring to the table. The US connections will also be useful for Alpine's ambitions plans for international expansion, including a move towards electrification and new models such as a roadster version of the A110, the four-seater A310, the A290 hot hatch, and eventually an SUV.