Extra credit (1)

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University of Texas, Dallas *

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MISC

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Marketing

Date

Feb 20, 2024

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docx

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3

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Extra Grade – Keshav Kumar Please choose one of the following topics and upload your answer in a Word document or PDF. Your answer should not exceed two pages. Your answer will be graded based on the originality of your answer as well as the relevance of your answer to marketing concepts. 1. What do you think about online privacy? What is important for users and how firms can avoid violations of privacy rights of their customers while earning profits? 2. What are the important factors that customers consider adopting a new franchised media product? The movie Fantastic Beasts: The Secrets of Dumbledore or the video game FIFA 22 are examples of franchised media products. 3. What are the differences between traditional sports and electronic sports, especially from a marketing and business perspective? 4. What other sources of revenue are available for the developers and manufacturers of entertainment and media products besides the purchases of customers? 5. What are the implications of Metaverse for customers and other businesses? 6. What are the key differences between influencers on different social platforms? For example, the question can be answered in terms of their revenue source, content creation, and interaction with followers. 7. 7. In the realm of Generative AI (for example Large Language Models such as ChatGPT), how do you think these new generative AI models can help marketers?
Although traditional and eSports differ substantially, both can exist within the realm of entertainment and sports, highlighting shifts in consumption from various marketing and economic viewpoints. There are notable distinctions in audience dynamics and engagement. Traditional sports, which emphasize skill, teamwork, and live audience participation rely on physical venues, broadcast TV, media partnerships, and media sponsors to attract viewers; on the other hand, eSports utilize digital platforms and the global internet's global reach to attract younger tech-savvy audiences through platforms like Twitch or YouTube. Conventional sports take an approach similar to radio, TV and stadium advertisements when marketing themselves while eSports rely more heavily on digital strategies for marketing their event or tournament, using influencer marketing and seamless product integration into gaming environments with partners renowned gamers for greater brand exposure in gaming communities. Revenue generation strategies in different sports also differ considerably. Traditional sports utilize strategies like sponsorships, merchandise sales, ticket sales, TV rights and merchandise licensing revenue streams while eSports relies mainly on media rights sales, in-game purchases, sponsorships and advertising as a source of income. With its rapid development comes
increased opportunities such as ticketed live events and media rights that mirror traditional sports revenue models. Distinguishing features of eSports include accessibility and global reach. While traditional sports are widely enjoyed, geographical restrictions due to infrastructure needs limit their appeal while online eSports provide global appeal, enabling quick international fan base growth that overcomes logistical hurdles associated with traditional sports. Regulation and structural differences are readily evident between traditional sports and eSports, both boasting established leagues, legal frameworks and governing bodies to provide operational stability; on the other hand, eSports are transitioning in terms of standardization and governance with player associations trying to form uniform leagues, regulations and leagues to foster an orderly competitive landscape. Traditional sports and eSports each present unique advantages and challenges when it comes to global accessibility, revenue streams, marketing methodologies, engagement patterns, legal frameworks and legal obligations. Understanding these nuances becomes particularly crucial as traditional and eSports merge to transform the sports and entertainment lan dscape.
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