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Competition in Sports Industry Products Market

Author

Listed:
  • Lednev, Vladimir A.

    (Synergy University)

  • Butov, Mikhail Ya.

    (Synergy University; “Geraklion” Fund)

  • Ozhgikhina, Anastasia A.

    (Synergy University)

Abstract

The global sports industry is today a large sector of the global economy, which is dynamically developing in the face of competition from numerous sports organizations, as well as various business representatives and popular media. The article analyzes the main products of the sports industry (a sports event and a sports and wellness service), gives a general real picture of the sports industry market, taking into account both various manufacturers and consumers of these products. Each product of the sports industry has its own characteristics, taking into account the development of various segments of the industry (professional and mass sports, youth sports and fitness industries). Within the framework of the conducted research, specific elements of the competitive strategy of various manufacturers of the sports industry have been identified, taking into account the characteristics of the products of this industry. The authors note the emergence of digital sports (e-sports, sports programming, fidgital sports, etc.), which significantly affects the competition of the sports events market. Competition in the sports and wellness services market is associated with the development of entrepreneurial activity in mass and youth sports, as well as in the fitness industry. The article shows how competition in the sports industry is developing today, how the competitive environment is being formed and for which products consumers of the industry are competing. The presented article shows the level of development of the competitive environment in the sports industry.

Suggested Citation

  • Lednev, Vladimir A. & Butov, Mikhail Ya. & Ozhgikhina, Anastasia A., 2023. "Competition in Sports Industry Products Market," Journal of Modern Competition, Synergy University, vol. 17(6), pages 40-48.
    • Handle: RePEc:snr:mdrcmp:v:17:y:2023:i:6:p:40-48
    DOI: 10.37791/2687-0657-2023-17-6-40-48
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