The main directions of development of sports management and marketing in the COVID-19 pandemic

Abstract

The COVID-19 pandemic has caused enormous economic losses and social upheaval around the world. However, despite the huge financial and human losses, it is physical culture and sports that can help mankind in many ways to combat the epidemic. The COVID-19 pandemic has certainly had an impact on professional and mass sports. The economic slowdown in the sports industry has affected the profit margins of the global sports advertising market. In the current situation, it is necessary to search new directions for sports management and marketing policy to overcome the crisis. Of particular interest is the direction of online commerce and online advertising in the sports industry. Those sports brands that are able to adapt to the new reality and reconfigure their business will remain on the market and continue to make a profit, in some cases even multiply it. Those companies that fail to cope with the transformation caused by the COVID-19 pandemic may become uncompetitive and lose their consumers. The advantages of online commerce and marketing tools are that they are not likely to lose their relevance and effectiveness even after the pandemic is over, when all areas of human life will return to their usual course. One way or another, it is advisable for companies involved in the sports industry to implement and develop modern areas of management and marketing development.