Promotional Incentives in Professional Sport franchises

Promotional Incentives in Professional Sport franchises

Introduction

There has been rapid growth of sports in the United States and this can be better judged from the fact that almost 300 professional and semi-professional teams exist in the US. The professional clubs does not only contain the established sports such as baseball, football and basketball and hockey but has also sprung into different other sports such as soccer and Volleyball. This industry is very huge, supports almost 775 sports promotion and management firms, and comprise of almost 14000 employees. There are almost 50 cities in the US, which host professional sport teams while there is a presence of minor league franchises in more than 100 cities. The salaries and incentives paid to the professional athletes have also increased over time (Stoldt, Dittmore & Branvold, 2012). Almost all of the professional sports teams are organized into leagues, which define the rules and regulations and control almost every aspect of the business ranging from the competition to the compensation of the players. There are three professional sports organizations in the US, which are considered to be very influential. These three organizations are Major league baseball (MLB), the national basketball association (NBL), and National football league (NFL) (Stoldt, Dittmore & Branvold, 2012).

Discussion

Promotional Incentives in Professional Sporting Franchises

There are many promotional incentives in the professional sporting franchises. The New York Yankees is an American professional baseball team and competes in the major league baseball. The New York Yankees is considered one of the highly successful franchises in the history of professional sports. The major factor behind the success of the Yankees is the use of promotional incentives. The New York Yankees is considered the most valued sports franchise in the US. More than forty of its players and managers have become the hall of fame. There are many promotional incentives, which are used by the New York Yankees. The New York Yankees pays very high in order to acquire the new talent. The salaries of the players of the New York Yankees are very high as compared to the other professional sports franchises. Furthermore, the players are provided continuous training so that they perform better in the league. The professional sporting franchises are no more less than business. They run more or less like a business; like the normal businesses, the sporting franchises also have a brand name that they want to be recognized with. The professional sport franchises also engage in advertising and also apply other promotional techniques in order to gain public support and increase the number of fans (Franck & Nuesch, 2011).

Product Effectiveness

The players are considered the product in the professional sports franchises. As in the normal business, the effectiveness of product is very important. The effectiveness of the players is considered very critical in the professional sporting franchises. Every sporting franchise tries to outperform others by training their employees (Howard, 2013). The effectiveness of the players increases not only with the training but also with the public ...