Pricing Objectives
Isaiah Hill
Department of Sports Management
SMGT 502:
Professor Dr. Heath Hooper
June 11, 2023
Product
The Become a Star store is a new Smart store in the sports retail industry. The
intelligent store is the only innovative store in the world. The store will cover all sports, but
basketball is our primary sport. Basketball is our focus at our new retail store, and we will
supply the most durable and urban team gear through our technology-driven data. When
consumers enter the store, they can scan every piece of equipment with their smartphone camera,
and the content will be displayed about each product in real-time. According to MBA Skool
Team (2021), “the promotional strategies used for NBA becomes a major part of their physical
evidence as fans tend to get attracted towards these to feel the urge to attend the matches. The
match highlights, or statistics, videos, NBA zones, interaction with the players, autographed
merchandise, social causes in which the players are involved, brand deals with the players – all
of them become the physical evidence for fans that later on increases their urge to watch the live
matches”. The store will give fans access to footage and network covered by sports exclusive
access. In Appendix A, enterprise local brand significantly impacts marking a product or brand.
We see local brands use sports business models as a foundation.
Price
The store retail price will start with standard NBA pricing for basketball jerseys and
uniforms. The standard pricing for just the jersey is $79.99, according to the official NBA store
website (NBA Gear at NBA Store). The more exclusive the jerseys are, the more prices will
fluctuate. We also specialize in vintage urban-style gear. The Vintage equipment gives us the
opportunity to scale the business for a significant profit.
Place
Become a Star Sporting Goods-retail Store fits into the proper sports segment dealing
with a physical location. The store fits into the respectful market because of the selling of
different sporting goods and the technology associated with the store. The store is located outside
of the new basketball arena in Birmingham, AL. Sporting goods stores are essential in the
sporting industry. The global sports goods market will reach over $400 billion by 2025. It is
mainly composed of sportswear, equipment, and accessories. In the last two years, the market
has undergone significant changes online. Some factors that have contributed to this industry's
growth include the increasing number of health-conscious individuals and the evolution of the
wellness industry. Due to the rising number of people participating in recreational activities, the
demand for sports goods has also increased. This has led to the development of e-commerce
strategies that focus on the multiple channels that can be used to sell sporting goods (Selazar,
2023). When attending the innovative store in person, the customers can maximize their team
experience. Our store's team experience is the greatest because every piece of gear and clothing
is connected to digital content through our products. The goal is to promote a product that brings
people together through a knowledge base system (Appendix C, Ch9 In. 67).
Promotion
Promoting the physical store is essential to the brand's success. We use media
marketing, commercials, and billboards to reach our customers. With the avenues of Google,
Facebook, and Instagram, we can use the strategy of selection targeting through age, location,
and common interest. The sports industry is going through a positive transformation because of
the rise of digital marketing. It allows teams and athletes to connect with their fans in new and
meaningful ways. This has also allowed them to monetize their efforts. One of the most
significant changes digital marketing has brought about is its ability to reach a wider audience.
Athletes, teams, and other organizations can reach out to their followers through social media
platforms and websites. This has allowed them to collect and analyze information about their
fans to develop customized marketing strategies (Džinić, 2023).
Reference List
Team, M. S. (2021). NBA (National Basketball Association) Marketing Strategy &
Marketing Mix (4Ps). MBA Skool. https://www.mbaskool.com/marketing- mix/services/17801-
nba-national-basketball-association.html
Selazar. (2023). Sporting Goods: Sporting Equipment & Accessories Market 2022.
Selazar.https://selazar.com/ecommerce-fulfilment/sporting-goods-market-2022/
Džinić, S. (2023, February 8). Digital Marketing effect on the Sports Industry - Digital
Reflections - Medium. Medium. https://medium.com/digital-reflections/digital-
marketing-effect-on-the-sports-industry-ed483d28f959
NBA Gear at NBA Store - The NBA Store. One Store, Every Team. (n.d.).
https://store.nba.com/jerseys/d-2338402972+z-930066-3838517996
Fig.
1:
The
Sports
Team
Brand
Hierarchy
Conceptual
Framework
Appendix A
Appendix B
Marketing and Communication in Romania's Next Sports Decade: Identifying Key Success
Factors in the National Strategy for Sport 2023
Appendix C
Marketing and Communication in Romania's Next Sports Decade: Identifying Key Success
Factors in the National Strategy for Sport 2023
