Sports event management and marketing field is a big business and has grown enormously in past decades. From small participatory events to events with multi sport participation to multi national participation are viewed by millions, the sports business industry has mirrored the explosive growth of media, entertainment and tourism.
Thinking about sports from the business point of view imagine that a team sport like cricket, football and many more as well as individual sports like Tennis, badminton and others are similar to other enterprises in that they attempt to provide a product (team / individual victory) by employing various inputs (skills, team members). Every victory by a team or an individual is the final output as the consumers – that would be us, accept the final product.
In the process of creating a winning combination a whole lot business efforts are involved.
Sports are a universal phenomenon that crosses all social, religious and language barriers. It is a common denominator that appeals to the masses therefore creating enormous scope for business ranging from planning, logistics, ticketing, stadium development, sponsor and supplier management, risk and insurance management, marketing licensed merchandise, sports tourism, telecast contracts and many more opportunities relating to media etc.
This article was written in 2001-2002 for my research titled ‘Football Nexus’
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