Sunday, May 27, 2012

Quote of the day

"One good example of successful recovery was Newcastle United, which was relegated in 2008 to 2009 but then moved back up in 2009 to 2010. The team had a strategic recovery plan in place to secure promotion on the first attempt because it recognized the considerable challenge it would face financially without the significant influx of money from the EPL's television contracts. The team reduced operating costs while maintaining a Premier League quality squad, and implemented a marketing plan that maintained memberships, attendance, and sponsorships."

It's official: we're now being held up by academics as a shining model of how to run a successful business. The extract above is taken from a book I happen to be currently working on, Advanced Theory and Practice in Sport Marketing. While we can forgive the US-based authors for the awkward Americanisms, we should perhaps point out that the strategy described above wasn't exactly a stroke of genius - in fact, it represented a huge (albeit calculated) gamble. Still, it paid off and we're now sitting pretty as a result.




Post a Comment

<< Home