Topic > Swot Analysis of Sports Industry - 1338

Sport involves deep passion and emotions. Sports fans are just as passionate as athletes. Such high passion and adrenaline offer companies a serious opportunity to do business. Corporations cannot control the sport as there are global governing bodies of each sport that have control over the sport globally and national governing bodies that look after the sport in a particular nation with government support. However, what companies do is buy the exclusive rights to sponsor sports. Companies sponsor tournaments, teams and individual players, purchasing their media and merchandising rights in exchange for advertising during tournaments. Companies use sports as a marketing tool for their products. For example, Gillette has hired several famous tennis, cricket and other game players to market its men's grooming products. Some specific companies involved in sports have a direct relationship with the sports industry. These companies exist because they make products relevant only to the sports industry. For example, Nike provides sports footwear, products and accessories for different sports under its umbrella. The government or sports governing bodies have an implicit responsibility to provide better facilities and infrastructure to their players and athletes so that they can achieve their highest levels of performance. Promotion of sporting extravaganzas such as World Cups, Olympics, Commonwealth Games and other sporting events