Hello. Welcome to the segment "What is sports marketing?". These are the topics. I'm going to define sports marketing. I will talk about the different types of consumers that exist in sports marketing and the different products that exist in sports marketing. I will talk about the stakeholders, stakeholders of sports marketing, and finally we will finish with the 4P of sports marketing. So let's start. Well, what is sports marketing? Sports marketing is simply the marketing of sports, nothing more. But it's more than that, of course. As we can see in the following image. Therefore, you can see by yourself that actually it is quite big, but it can be much bigger. Later on, not today, we will talk about sports sponsorship. Sponsorship is an example of the marketing of non-sporting industries through sports. So keep this in mind, sports marketing has a dual nature, but I'm going to focus mainly in the marketing of sports in this segment. In sports marketing, marketing of sports, there are three types of consumers. The first type is the viewer and can be a spectator who was in the game, which is what we refer to as live, but of course you can enjoy a game, even a game in another country, through different types of media. Either conventional media or online. You can also participate in a much more active way the sporting activity, whatever the sport is. And finally in terms of business to business, the sponsors that will use your sports property to become consumers, a customer. Therefore, depending on who the consumer is, as you can see, we have different types of by-products. As a spectator, you not only have the event, but if you are a super fan or follower like me, I'll say it in a low voice, Real Madrid, because I know that many of you follow Barça, I have the licensed merchandise. Such as the uniform, Cristiano Ronaldo's jersey. These products sell very well. Of course, lately especially because of fantasy sports, the fantasy leagues, there is a huge market in sports information. As participants, there are products related to how to play a sport. I'm doing my tennis swing, or it could be a golf swing, how was it? These are the products that we must buy. The sports equipment that we must buy to play these sports like tennis or golf. It can also be personal training. As for the sponsors, they have the right to put their brand on sports equipment. And what is the result? Well, using these products results in all these benefits and we can compare and contrast even from the customer's point of view, the differences. For example, as a spectator it is much more social, the type of connection, the type of affiliation that you have, it is the base. While as a participant the experience I think is a lot more personal, the satisfaction of oneself. If you are a sponsor, it is much more important the kind of vision, strategy and action that is needed. For example, the image you want to give, to be associated with a winning team, a famous team. Therefore, the implication here is that depending on the consumer, the correspondence eye to eye, that is noon nopi, must be very, very good. Having said this, we must be very careful because sometimes being participant and being spectator are not always independent. In the case of golf, of course you can be both, you can not only be a spectator, but you can follow a golf tournament , as a member of a gallery, which I have done, but can also play golf. Then you can try to copy your idols, using the same driver, same iron and same putter. That is golf. But in a sport like Formula 1, you may like it a lot but with regard to your chances of driving that super car, it's just a fantasy. Most people can not do it. I reiterate, the separation between participant and spectator depends on the sport. Okay, we talked about consumers. But, keep in mind that there are other stakeholders involved in sports like the government that regulates it, that sometimes sponsors and is sometimes associated at international events, such as the Olympic Games, the world cup or even Formula 1. Of course there is also the media that broadcast the events. There are people, people like Jerry Maguire, played by Tom Cruise in one of my favorite movies. They are the intermediaries between the players and the teams. I have talked about tennis and golf, where there are manufacturers of equipment and there are also service providers such as employees and they have to be very well managed, since sports is also a service industry. And finally we have the investors. Sports need a lot of money, so activities like investor relations are also important in sports.