Sport marketing is the process of designing and implementing activities related to production, pricing, promotion, and distribution of a sport product to satisfy consumer needs and achieve company objectives. It draws from several fields like marketing and business management. The sport industry has many segments including sporting goods, sports media, sponsorships, and more. The sport marketing process involves understanding consumers, competitors, the company, and the broader climate then using this information to determine target markets and appropriate marketing mix strategies. The 4Ps of marketing - product, price, place, and promotion - are key elements of a sport organization's marketing strategy.