Sports Marketing (situational Analysis for Associated Bank) Chicago Market Analy

Question

Sports Marketing (situational Analysis for Associated Bank)

Chicago Market Analysis

Marketplace overview (table of properties, key metrics, insights/trend

Alternative points of entry for the client, brief description of each, pros and cons (opportunities/limitations) of each

Insight on teams and sports fans; analysis of brand fit

Competitive Analysis

Summary of major direct competitors in Chicago; indirect competition

Key competitive advantages and considerations for target market

Industry Analysis

Sponsorship industry trends

Sponsorship trends specific to banking (e.g. activity, pricing, tactics)

Competitor sponsorship activity in Chicago

Explanation / Answer

Chicago is one of the biggest sports market in US only after Los Angeles and New York. Thus it comes as no surprise that sports marketing has eventually become a huge part of the business world in Chicago. Furthermore as sports becomes more and more popular and embedded in our culture for instance if we look at the latest NFL playoff television ratings teams and brands indeed would persist to put more importance on discovering ways to bond with this enormous demographic evidently recognized as sports fans.

Digital pioneer Geoff De Weaver effectively does elucidate that the appealing strategy in sports marketing today is merging big data and analytics along with massive creative idea. However it’s apparent that teams, leagues and brands are indeed effectively trying to stay ahead of the curve in marketing strategies through data and analytics.

For instance Chicago Cubs appointed FCB to create the campaign “Cubs: It’s a Way of Life” which indeed effectively facilitated to communicate what the cubs brand meant to the city and its fans. It was a huge campaign because the message was clear thus by using video, content, data and paid promotion it eventually facilitated to effectively strike all the right channels in marketing.

Data and statistics indeed have become more significant in the overall effective marketing strategy as it indeed facilitates of being aware what’s working and what’s not. In sports world through effectual multiple sources of data leveraging such as ticketing, CRM, campaign results, merchandise sales, social media, teams and sports enterprise indeed can effectively segment their fans and thus accordingly build personalized communications, offers and experiences to drive new revenue.

Social media sites indeed facilitate fans with more unique access to players, coaches, owners and administrators. John Abbamondi vice president of NBA’s team marketing and business operations division eventually effectively enumerated that sports is a people business thus it’s important to effectively look for ways to use technology which indeed can efficiently facilitate further engagement with people and building new revenue sources.

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