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What is necessary to have sport industry evolve into a profitable business? Please provide specific examples.

What is necessary to have sport industry evolve into a profitable business? Please provide specific examples.

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Some of the things are necessary to have sport industry evolve into a profitable business, such as, it is important to know whether the brand identity is strong enough to sustain or may have down fall (for example, the how small sports business is positioning its brand in the market and how the brand image is maintained to continuously appeal the customers like Adidas and Nike does); present business position with respect to the competitors in the market to with stand required actions (for example, target group, current potential earnings , product is distinguished as compared to the competitors in the marketplace); Efficient supply chain for the better inventory management and showcasing the delivery capability (for example, optimized inventory management for the seasonal sports product such as skis); ways to increase benefits to the end user of the sports product (for example, feedback from specific customer segment on their understanding about the product); most importantly continuous focus on the business strategy in terms of objectives and how to implement the same (for example, how to communicate to the potential customers).

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