SMGT 1701 Lecture Notes - Lecture 8: Marketing
14 Feb 2018
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Why events: high profitability, sometimes, raise awareness/money for a cause or charity, use of space. Definition: sport even management: all functions related to the planning, implementation, and evaluation of a sport event, components, finance/budgeting, risk management/security, operations, volunteer management, guest services, event marketing, sponsorship. History: barnstorming tours, spalding organized, led to development of sport management agencies, formed to represent interests of athletes. Finance and budgeting: constant monitoring of budget, often predicting revenues, accounting cycle, most of expenses settled ahead of time, credit. Identify potential risk: addressing to reduce possibility, regionally specific. Insurance: purchased, most venues require for event to run in space, types: property, business interruption, liquor liability, general, goal: comprehensive plan to respond to every situation. Operations: the nuts and bolts of an event, e. g. , bike race, basketball tournament, concert. Guest services/hospitality: providing satisfying experience for all stakeholders, constantly adapting/responding to problems, respond during 10 game homestand, ensure enjoyment for vips (celebrities, media, execs from partner companies)
