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Essay / Importance of Marketing Mix in Sports Industry
Promotion involves creating awareness about the sports marketer's product and increasing sales revenue. Promotions are vital to the sports industry because this is how sports marketers advertise their products and build product and brand awareness. An example of a promotion would be when a professional baseball team holds a promotional event such as a bobblehead giveaway and post-game concert to increase attendance. This event publicizes the product, which would be the game, and promotes the sponsor who paid for the giveaway. Sponsors seek to promote their brand, raise awareness of their product, and most importantly, increase sales (Hickman, 170). Naturally, sports franchises and sponsors partner on giveaways because it creates mutual awareness for both entities. It's important for sports marketers to use promotions because, although they raise awareness among fans who don't follow the organization closely, they increase sales by attracting more people to the stadium. Promotions help improve the image of the product and place, while directly affecting the price by improving