Posted: March 12th, 2023
Target Market Analysis
Running head: FINAL PROJECT 1
FINAL PROJECT 5
Intro NBA League Pass
Final Project
Antonio McClan
Sports Marketing and Media
2/11/2023
Final Project
A.
The National Basketball Association (NBA) is the sports team I most admire. The NBA’s digital subscription program, NBA League Pass, is the product or service I have chosen to promote. For a monthly fee, subscribers to NBA League Pass can watch every regular season and playoff game, as well as every preseason and playoff game, both live and on-demand. Also available to subscribers are in-game statistics, different camera angles, and customizable playback controls. My plan’s overarching purpose is to raise NBA fanatics’ familiarity with and interest in NBA League Pass and ultimately boost subscriptions. The NBA is thriving right now, as seen by its rising global fan base and record-breaking income. Nonetheless, the NBA has a massive opening to expand its online presence, especially among the younger demographic that favors digital media for accessing sports coverage. I intend to approach this demographic by capitalizing on the NBA’s popularity among digital natives and its relationships with big technology firms. The strategy will also use promotional events and targeted digital advertising to boost subscriptions to NBA League Pass.
B.
My marketing strategy for NBA League Pass seeks to raise awareness of the service and boost subscriptions by making it the go-to source for live and on-demand NBA action. A combination of promotional events, the NBA’s robust social media presence, and strategic partnerships will help to accomplish this aim. Key performance indicators such as new NBA League Pass subscriptions, digital marketing campaign engagement and reach, and consumer happiness will be used to gauge the plan’s effectiveness. I plan to use these indicators to monitor and fine-tune my marketing efforts regularly to assure the plan’s success. Further, the marketing strategy will only be successful if the intended demographic is reached and their habits and preferences are considered. The approach and methods utilized to reach and engage the target audience will be informed by research on the trends and habits of the target audience.
C.
The NBA is thriving right now, shattering financial records and expanding its global fan base. The National Basketball Association (NBA) has solidified its position as one of the world’s most prestigious professional sports leagues, and its fan base, especially in emerging nations, continues to expand. The National Basketball Association (NBA) has made heavy expenditures in digital and technology efforts in recent years, contributing to the league’s growing international profile. The NBA League Pass, a digital membership service, is one example; it allows users to watch every NBA game, both live and on demand. The NBA has amassed millions of followers on social media platforms like Instagram, Twitter, and Facebook, thanks to its extensive history of marketing efforts aimed towards this demographic. For example, the league’s agreements with Google and Amazon have increased its visibility and accessibility to its intended audience. The NBA was founded in 1946, and the first season was played in 1947–1948, therefore, it has a long and storied past. The league has hosted some of the sport’s all-time greats, and it has continued to grow in popularity because of its stars’ thrilling play brand and oversized personas.
D.
Providing a world-class, fan-first league that delivers excellent value and an unequalled experience to all its stakeholders is central to the NBA’s stated objective. The National Basketball Association is dedicated to creating an environment where all ideas are welcome, and everyone feels welcome to contribute. The National Basketball Association has intended to provide its supporters with an unforgettable experience, both in and out of the arena, through its on-court and off-court endeavors. The National Basketball Association is dedicated to expanding basketball’s reach and providing its fans with the best possible service, whether they choose to watch games in person or online.
E.
The NBA’s marketing strategy for NBA League Pass has the potential to significantly increase sales and income for the league as a whole. The league stands to gain from an uptick in subscribers to the service since it will be able to sell more digital content and hence more money. The marketing strategy may also increase revenue in areas such as sponsorship and merchandise sales for the league. The marketing strategy may also allow the NBA to break into previously unexplored markets, such as those in other countries. The league can expand its reach both domestically and internationally by utilizing its enormous social media following and strategic alliances with tech firms. More potential for the league, such as global fan interaction, merchandising opportunities, and sponsorship arrangements, could emerge as a result.
References
Chen, M., Su, F., & Tai, F. (2022). Major League Baseball Marketing Strategies and Industry Promotion Approach.
Frontiers in Psychology,
13. https://doi.org/10.3389/fpsyg.2022.802732
Kaiserman, M. (2019, July 17).
How the NBA revitalized its marketing strategy. Media Frenzy Global. Retrieved February 9, 2023, from https://mediafrenzyglobal.com/how-the-nba-revitalized-its-marketing-strategy/
MBA Skool Team. (2021, October 2).
NBA (National Basketball Association) Marketing Strategy & Marketing Mix (4PS). MBA Skool. Retrieved February 9, 2023, from https://www.mbaskool.com/marketing-mix/services/17801-nba-national-basketball-association.html
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5-1 Final Project Milestone Two: Draft of Target Market Analysis and Industry and Organization Factor Analysis
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For Milestone Two, you will submit a draft of the Target Market Analysis (Section II) and Industry and Organization Factor Analysis (Section III). In the draft, you will analyze your target market to inform your plan for pricing, placing, and promoting your product or service within the market. You will also examine your sport organization by conducting a SWOT (strengths, weaknesses, opportunities, and threats) analysis and evaluating the readiness of your organization to enter the target market of the selected product or service. For additional details, please refer to the |
Overview: The final project for this course will give you a chance to develop a sport marketing plan for a product or service supplied by an existing sport
organization. Your marketing plan will include a specific goal for the product or service, market analysis, organization analysis, marketing strategy, and evaluation
plans.
Prompt: In this milestone, you will submit a draft of the Target Market Analysis and the Industry and Organization Factor Analysis sections. In this draft you will
analyze your target market to inform your plan for pricing, placing, and promoting your product or service within the market. You will also examine your sport
organization by conducting a SWOT (strengths, weaknesses, opportunities, and threats) analysis and evaluating your organization’s readiness to enter the target
market of the selected product or service.
Specifically, the following critical elements must be addressed:
II. Target Market Analysis: In this section of the project, you will analyze your target market to inform your plan for pricing, placing, and promoting your
product or service within the market.
A. Explain the current and future trend of the market with respect to the chosen product or service. In other words, will it be appropriate to serve
the needs of customers in the current and future market?
B. Describe the target customers (e.g., age, gender, education, lifestyle, values) for your product or service.
C. Justify the market research methods that you will use to retrieve information about the target market and consumers. Support your justification
with research. For example, will you use primary data (e.g., surveys, focus groups, interviews) or secondary data (e.g., more general information
like SGMA reports or industry reports from sport business journals)?
D. Describe the internal market factors (corporate culture, financial state, etc.) that affect your sport organization.
E. Describe the external market factors (competitors, economy, etc.) that affect your sport organization.
F. Discuss business data that supports a decision to undertake this marketing plan.
III. Industry and Organization Factor Analysis: In this section of the project, you will examine your sport organization by conducting a SWOT analysis and
evaluating the readiness of your organization to enter the target market of the selected product or service.
A. Analyze the current status of the industry related to your sport organization, including needs and business opportunities.
B. Conduct a SWOT analysis that identifies strengths, weaknesses, opportunities, and threats of your sport organization.
C. Explain the readiness of your sport organization to enter the target market of the product or service. Support your explanation with examples
from your SWOT analysis.
D. Explain the current economic condition of your sport organization. Support your explanation with examples from your SWOT analysis.
Rubric
Guidelines for Submission: Your paper must be submitted as a 4- to 6-page Microsoft Word document with double spacing, 12-point Times New Roman font,
one-inch margins, and at least three sources cited in APA format.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Target Market Analysis:
Current and Future Trend
of the Market
Explains the current and future
trend of the market with respect
to the chosen product or service
Explains the current and future
trend of the market with respect
to the chosen product or service,
but explanation is cursory or
illogical
Does not explain the current and
future trend of the market with
respect to the chosen product or
service
9
Target Market Analysis:
Target Customers
Describes the target customers
for the product or service
Describes the target customers
for the product or service, but
description is cursory or target
customers described are not
appropriate for the product or
service
Does not describe the target
customers for the product or
service
9
Target Market Analysis:
Market Research Methods
Justifies the market research
methods that will be used to
retrieve information about the
target market and consumers
with support from research
Justifies the market research
methods that will be used to
retrieve information about the
target market and consumers, but
justification is illogical or is not
supported with research
Does not justify the market
research methods that will be
used to retrieve information
about the target market and
consumers
9
Target Market Analysis:
Internal Market Factors
Describes the internal market
factors that affect the sport
organization
Describes the internal market
factors that affect the sport
organization, but description is
cursory or illogical
Does not describe the internal
market factors that affect the
sport organization
9
Target Market Analysis:
External Market Factors
Describes the external market
factors that affect the sport
organization
Describes the external market
factors that affect the sport
organization, but description is
incomplete or unclear
Does not describe the external
market factors that affect the
sport organization
9
Target Market Analysis:
Business Data
Discusses business data that
supports a decision to undertake
this marketing plan
Discusses business data that
supports a decision to undertake
this marketing plan, but
discussion is illogical or inaccurate
Does not discuss business data
that supports a decision to
undertake this marketing plan
9
Industry and Organization
Factor Analysis: Status of
the Industry
Analyzes the current status of the
industry, including needs and
business opportunities
Analyzes the current status of the
industry, including needs and
business opportunities, but
analysis is cursory or illogical
Does not analyze the current
status of the industry
9
Industry and Organization
Factor Analysis: SWOT
Analysis
Conducts a SWOT analysis that
identifies strengths, weaknesses,
opportunities, and threats of the
organization
Conducts a SWOT analysis that
identifies strengths, weaknesses,
opportunities, and threats of the
organization, but some of the
elements listed are inaccurate or
not appropriate
Does not conduct a SWOT
analysis on the organization
9
Industry and Organization
Factor Analysis: Readiness
Explains the readiness of the
sport organization to enter the
target market supported by
examples from the SWOT analysis
Explains the readiness of the
sport organization to enter the
target market, but explanation is
cursory or does not align with the
SWOT analysis
Does not explain the readiness of
the sport organization to enter
the target market
9
Industry and Organization
Factor Analysis: Economic
Condition
Explains the current economic
condition of the sport
organization supported by
examples from the SWOT analysis
Explains the current economic
condition of the sport
organization, but explanation is
cursory or does not align with the
SWOT analysis
Does not explain the current
economic condition of the sport
organization
9
Articulation of Response Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact readability
and articulation of main ideas
Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas
10
Total 100%
-
SPT 608 Milestone Two Guidelines and Rubric
Rubric
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