Kenneth Cortsen’s Insights
This blog strives to provide insights and trends about the business of sports. Browse the site and gain a deeper understanding of the passionate texture of the convergence between sports and business. That is YOUR way to get ahead in the game!
The Economics of Fan Engagement: why fan engagement is importantFebruary 25, 2017 5:54 pm
Fan engagement has evolved in recent years to a new innovative approach, which perceives sports fans in relation to a wholesale growth strategy used by elite organizations for profit maximization. These developments call for a more economic and deliberate approach in order to capitalize on the commoditization of sports fans. This article will review the basics of fan engagement economics and will refer to some suggestions associated with the fandom business paradigm fan welfare maximization.
Cultivating market places in the business of sports – part 2February 7, 2017 3:36 pm
To understand the premise of the interactive aspect of market places in the postmodern sports economy, the accumulated value from interactions with potential and current customers (e.g. fans and sponsors) is a good indicator. However, to influence a sports-related organization’s market behavior, it is essential to focus on what the sports-related organization measure and how these measurements are conducted as these activities shape the behavior of the organization’s employees and thereby the culture of the organization, how the organization is perceived in the market place and the business opportunities in the market place.
Cultivating market places in the business of sports - part 1January 28, 2017 12:14 pm
Monetizing on value creation in sports is a function of an appropriate strategic cultivation of the sports-related organizations’ stakeholder relationships. The sports business emphasizes Marshall McLuhan’s statement that “the medium is the message” (McLuhan, 2006, p. 107), which acts as a meaningful practical reason for why today’s sports-related organizations should aim to succeed in managing and implementing profit maximizing precision marketing tools. These tools assist sports-related organizations in building viable relationships between relevant parties in the business of sports, e.g. leagues and clubs and their sponsors and fans.
Innovation, glamour, excitement and maximum speed – business case of F1 star Lewis HamiltonJanuary 6, 2017 5:40 pm
Lewis Hamilton is a sporting super star athlete succeeding in crafting an image that blends the ‘full speed’ perception of a Formula 1 champion with the energy and coolness that helps to differentiate Hamilton from most of his competitors in F1 and the world of sports. These characteristics has shaped Hamilton’s image for years and has helped to turn his brand equity into a turbocharged commercial vehicle.
Football’s sociocultural appeal moves customers and market shares – case of El ClásicoDecember 6, 2016 6:10 pm
Top football thrives due to the popularity of the game on a global scale and its roots in a sociocultural context. Rivalries and local derbies are at the center of attention in this sociocultural perspective of football. In an era characterized by the terminology of the ‘global village’, these matches mirror passionate pastime entertainment with the capability to activate purchase decisions and to move market shares for commercial stakeholders. This past weekend’s El Clásico derby in which FC Barcelona hosted Real Madrid at the Camp Nou Stadium in Barcelona shows some indications of the commercial prowess illustrated in how top football equals marketable entertainment.