Look at the sponsorships/partnerships of one of your favorite professional teams. Describe what they are doing in the name of goodwill. Find articles from professional sport writers discussing one of the sponsorships/partnerships. |
https://www.forbes.com/fdc/welcome_mjx.shtml
For this Blog post for sports marketing we had to research some information on our favorite professional team and describe what they are doing in regards to goodwill. Many professional organizations are involved in giving back but here is a few things that do come first like sponsorship and partnerships. The team that I researched was the New York Yankees.
I also know a good amount about their sponsorships and partnerships. The Yankees are a large market team which simply means that they have as much money or a lot more money than most of your larger market clubs. Being so they can put together a lineup for 162 games a year that will win ball games so they can make the playoffs they have to find every way possible to make money.
It first starts off with ticket sales. As long as you can sell out all 80-90 home games each year you will make money and that goes from your season ticket holders all they way to your opening day or fourth of July day with firework show ticket buyers. You also have to sign contracts with companies where you put their name somewhere or let them sponsor some sort of event and in return you get money.
The Yankees along with every other team is sponsored by Majestic , which is the official jersey sponsor of the MLB. Their larger sponsors allow for there to be a booth in box seats that are fully covered and catered the professional way. Allows for the Yankees to build and new stadium and out attractions all throughout.
The Yankees have so many players that give back to the community by starting there own organization. Derek Jeter is a prime example to me because he has founded the Turn 2 foundation to help under privileged kids get the knowledge and attention they need.
It is all about who you know when it comes to business and if you have the right people in your corner supporting you and helping you build partnership then you will be very successful and one day be like the NYY.