Global Economy and Sports Marketing

The recent global economic downturn has hurt the sports industry from many aspects such as attendance, sponsorships, the effectiveness of promotions, and marketing efforts in general. How might sports marketers counterbalance this global economic downturn so that the sports industry continues to grow?

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Global Economy and Sports Marketing

Economic downturns or recessions tend to have huge impacts on close to all industries. The sports industry is also not left behind with clubs experiencing low incomes due to reduced television income, reduced sponsorship deals, and reduced numbers in attendances. Such reductions in incomes and revenues can hurt many sports and can force some of the clubs into receivership or bankruptcy. Marketing efforts are also affected since the sporting bodies invest a lot of funds towards marketing the events yet the revenues do not cater for such expenditures. As a result, it is imperative when sport marketers consider some of the options or solutions that can be used to counterbalance economic downturns so that the sports industry can grow.

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