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Değer Yaratma Ve Yakalama Stratejileri: Real Madrid Futbol Kulübü Örneği

Year 2022, Volume: 33 Issue: 3, 163 - 179, 31.10.2022
https://doi.org/10.17644/sbd.1116368

Abstract

Bu çalışmanın amacı, Real Madrid Futbol Kulübü’nün, futbolun yarattığı rekabetçi piyasada farklı bir konum elde etmek için farklı değer önerilerinin, kulüp aktörleri tarafından nasıl yaratıldığı ve yakanlandığı konusunda anlayış sağlamaktır. Mevcut çalışma, kulübte çalışan sekiz üst düzey yöneticisi ile gerçekleştirilmiş olan yarı yapılandırılmış görüşmelere ve ikincil kaynaklardan elde edilen verilere dayandırılan bir durum çalışmasıdır. Araştırmanın sonuçları, Real Madrid FK’nin, global taraftarlar, sponsorlar, kurumsal ortaklar ve sosyal medya ile birlikte yarattığı değerler vasıtasıyla yedi değer yakalama stratejisi belirlediğini ortaya koymuştur. Bu durum çalışması, kulübün geliştirdiği (a) kendi ücretlerini karşılayan oyuncuların alınması, (b) Orta Doğu ülkelerine olan marka genişlemesi, (c) uluslararası futbol maçları düzenlenmesi, (d) Real Madrid okullarında spor liderlerinin yetiştirilmesi ve (e) eğlence parkları ve sanal taraftar deneyimleri gibi yeni projelerin geliştirilmesi gibi değer yaratma faaliyetlerinin nasıl değer yakalama stratejilerine dönüştüğünü ortaya koyarak, spor pazarlaması alan yazınına katkı sağlamaktadır.

References

  • 1. Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.
  • 2. Bauer, H. H., Sauer, N. E., and Exler, S. (2005). The loyalty of German soccer fans: Does a team’s brand image matter? International Journal of Sports Marketing and Sponsorship, 7(1), 8–16.
  • 3. Bowman, C., and Ambrosini, V. (2000). Value creation versus value capture: Towards a coherent definition of value in strategy. British Journal of Management, 11(1), 1–15.
  • 4. Braun, V., and Clarke, V. (2006). Using thematic analysis in psychology. Qualitative research in psychology, 3(2), 77–101.
  • 5. Byron, M. (1993). Using audio: Visual aids in geography research: Questions of access and responsibility. Area, 379–385
  • 6. Conn, D. (2013). Why Real Madrid think that even €100m for Gareth Bale is not silly money. The Guardian. http://www.theguardian.com/football/2013/sep/01/gareth-bale-100m-transfer-real-madrid
  • 7. Corrigan, D. (2017, January 25). Real Madrid remove cross from club crest in Middle Eastern clothing deal. ESPN. https://www.espn.com/soccer/real-madrid/story/3045880/real-madrid-remove-cross-from-club-crest-in-middle-eastern-clothing-deal.
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  • 14. Dolles, H., and Söderman, S. (2013a). Twenty years of development of the J-League: Analysing the business parameters of professional football in Japan. Soccer and Society, 14(5), 702–721.
  • 15. Dolles, H., and Söderman, S. (2013b). The network of value captures in football club management: A framework to develop and analyze competitive advantage in professional team sports. In S. Söderman and H. Dolles (Eds.), Handbook of research on sport and business (pp. 367–395). Edward Elgar.
  • 16. Eddy, T. (2014). Measuring effects of naming-rights sponsorships on college football fans’ purchasing intentions. Sport Management Review, 17(3), 362–375.
  • 17. Ellen L. (2010, March) Increasing attendances at football clubs. Online report. https://www.mishcon.com/assets/managed/docs/downloads/doc_2420/Increasing_Attendances_in_the_Football_League_-_March_2010.pdf
  • 18. Ferrand, A., and Pages, M. (1999). Image management in sport organisations: the creation of value. European Journal of Marketing, 33(3/4), 387–402.
  • 19. Filo, K., Lock, D., and Karg, A. (2015). Sport and social media research: A review. Sport management review, 18(2), 166–181.
  • 20. Fyrberg Yngfalk, A. (2013) ‘It’s not us, it’s them!’ – Rethinking value co-creation among multiple actors’. Journal of Marketing Management 29(9-10): 1163–1181.
  • 21. Gabrielsson, C., and Dolles, H. (2017). Value capturing in Floorball, How equipment manufacturers and retailers contribute to the development of a “new” sport. Sport, Business and Management: An International Journal, 7(5), 542–559.
  • 22. Gomez, S., Kase, K., and Urrutia, I. (2010). Value creation and sport management. (1st ed.). Cambridge University Press, (Chapter 1).
  • 23. Harvey, W. S. (2011). Strategies for conducting elite interviews. Qualitative research, 11(4), 431–441.
  • 24. Hedlund, D. P. (2014). Creating value through membership and participation in sport fan consumption communities. European Sport Management Quarterly, 14(1), 50–71.
  • 25. Hoye, R., Smith, A., Nicholson, M., Stewart, B., and Westerbeek, H (2009). Sport management principles and applications. Elseiver
  • 26. Jenson, P. (2018). Real Madrid lose £351m naming rights deal for Bernabeu after talks break down. Daily Mail. https://www.dailymail.co.uk/sport/football/article-5324629/Real-Madrid-lose-351m-naming-rights-deal-Bernabeu.html
  • 27. Junghagen, S. (2018). Football clubs as mediators in sponsor-stakeholder relations. Sport, Business and Management: An International Journal, 8(4), 335–353.
  • 28. Kerai, H. (2013).Tottenham star Bale would be a worthwhile investment, claims Real Madrid president. Goal. https://www.foxsports.com/soccer/story/gareth-bale-would-be-investment-says-real-madrid-president-perez-060413
  • 29. Kolyperas, D., Anagnostopoulos, C., Chadwick, S., and Sparks, L. (2016). Applying a communicating vessels framework to CSR value co-creation: Empirical evidence from professional team sport organizations. Journal of Sport Management, 30(6), 702–716.
  • 30. Lamont, M., Hing, N., and Gainsbury, S. (2011). Gambling on sport sponsorship: A conceptual framework for research and regulatory review. Sport Management Review,14(3), 246–257.
  • 31. Letaifa, S. B. (2014). The uneasy transition from supply chains to ecosystems: The value-creation/value-capture dilemma. Management Decision, 52(2), 278–295.
  • 32. Lepak, D. P., Smith, K. G., and Taylor, M. S. (2007). Value creation and value capture: A multilevel perspective. Academy of management review, 32(1), 180–194.
  • 33. Madrigal, R., and King, J. (2018). Improving fit perceptions for an incongruent sponsorship: Associating a sports property to a brand via analogical articulation. Journal of Business, 124, 731-738.
  • 34. McDonald, H., and Karg, A. J. (2014). Managing co-creation in professional sports: The antecedents and consequences of ritualized spectator behavior. Sport Management Review, 17(3), 292–309.
  • 35. McNamara, P., Peck, S. I., and Sasson, A. (2013). Competing business models, value creation and appropriation in English football. Long Range Planning, 46(6), 475–487.
  • 36. Number of clubs sponsored by betting firms is ‘disturbing’, say campaigners (2018, July 30). The Guardian. https://www.theguardian.com/football/2018/jul/30/campaigners-concerned-championship-efl-clubs-sponsored-betting
  • 37. Mikecz, R. (2012). Interviewing elites: Addressing methodological issues. Qualitative Inquiry, 18(6), 482–493.
  • 38. Moore, N., and Stokes, P. (2012). Elite interviewing and the role of sector context : an organizational case from the football industry. Qualitative Market Research: An International Journal, 15(4), 438–464.
  • 39. Otker, T. (1988). Exploitation: the key to sponsorship success. European research, 16(2).
  • 40. Ozanian, M. (2019, May 29). The World’s most Valuable Soccer Teams 2019: Real Madrid Is Back On Top, At $4.24 Billion. Forbes. https://www.forbes.com/sites/mikeozanian/2019/05/29/the-worlds-most-valuable-soccer-teams-2019/#63bae1d740d6
  • 41. Patton, M. (1990). Qualitative evaluation and research methods (2nd ed.). Sage Publications, Inc.
  • 42. Pita, A. (2015). Oil money is making pro soccer look a little different. Public Radio International (PRI) Media Company. https://www.pri.org/stories/2015-01-18/oil-money-making-pro-soccer-look-little-different
  • 43. Porter, M. E. (1985). Competitive strategy: Creating and sustaining competitive advantage. New York:The Free Press, (Chapter 1).
  • 44. Real Madrid, Annual Report (2015/2016). https://www.realmadrid.com/en/members/member-card/annual-reports
  • 45. Real Madrid CF, Annual Report (2017/2018). https://www.realmadrid.com/en/members/member-card/annual-reports
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  • 47. Reysen, S., Snider, J. S., and Branscombe, N. R. (2012). Corporate renaming of stadiums, team identification, and threat to distinctiveness. Journal of Sport Management, 26(4), 350–357.
  • 48. Rodriguez-Pomeda, J., Casani, F., and Alonso-Almeida, M. D. M. (2017). Emotions’ management within the Real Madrid Football Club business model. Soccer and Society, 18(4), 431–444.
  • 49. Simón, J. A. (2017). Playing with our friends and making money: Real Madrid FC’s economic model and the impact of international friendly matches, 1955–1963. The International Journal of the History of Sport, 34(7-8), 517–534.
  • 50. Stabell, C. B., and Fjeldstad, Ø. D. (1998). Configuring value for competitive advantage : On chains, shops, and networks. Strategic Management Journal, 19(5), 413–437.
  • 51. Thrassou, A., Vrontis, D., Kartakoullis, N. L., and Kriemadis, T. (2012). Contemporary marketing communications framework for football clubs. Journal of Promotion Management, 18(3), 278–305.
  • 52. Transfermarkt (n.d.). Most valuable transfers https://www.transfermarkt.com/statistik/wertvollstetransfers
  • 53. Uhrich, S. (2014). Exploring customer-to-customer value co-creation platforms and practices in team sports. European Sport Management Quarterly, 14(1), 25–49.
  • 54. Vargo, S. L., and Lusch, R. F. (2006). Service-dominant logic: What it is, what it is not, what it might be. In R. F. Lusch, & S. L. Vargo (Eds.), The service-dominant logic of marketing: Dialog, debate, and directions (pp. 43–56). ME Sharpe.
  • 55. Verdin, P., and Tackx, K. (2015). Are you creating or capturing value? A dynamic framework for sustainable strategy. M-RCBG Working Paper Series, 36, 1-19.
  • 56. Why have Real Madrid lost the title of richest club in the world? (2017, January 29). Marca https://www.marca.com/en/football/realmadrid/2017/01/29/588e311de2704eaf778b462f.html
  • 57. Woratschek, H., Horbel, C., and Popp, B. (2014). The sport value framework - a new fundamental logic for analyses in sport management. European Sport Management Quarterly, 14(1), 6–24.
  • 58. Yin, R. K. (2009). Case study research: design and methods. (4th ed.) Sage Publications, Inc. (Chapter 1).
  • 59. Zagnoli, P., and Radicchi, E. (2010). The football fan community as a determinant stakeholder in value co-creation. Physical Culture and Sport. Studies and Research, 50(1), 79–99.

Marketing Strategies For Creating And Capturing Values: A Case Study Of Real Madrid Football Club

Year 2022, Volume: 33 Issue: 3, 163 - 179, 31.10.2022
https://doi.org/10.17644/sbd.1116368

Abstract

The purpose of this study was to explore the insights from Real Madrid Club de Fútbol (CF) about how value was created and captured by participating in different value offerings with variety of actors to gain a differentiation position in the competitive scope of the football business. We utilized a case study, relying on semi-structure interviews with eight directors, who worked in the club and the multiple sources of secondary documents. The results revealed that Real Madrid CF generated seven value capturing strategies through the value co-creation with global supporters, sponsors, corporate partners and social media. This case study intended to contribute to the sports marketing literature by examining how the club has transformed value-creating activities into value captures to sustain their competitive advantage, through implementation of marketing strategies such as; recruitment of star players who pay their way, brand extension in Middle East countries, organizing international friendly matches, establishment of Real Madrid Graduate School for business education and developing new projects such as theme parks and virtual fan experiences.

References

  • 1. Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.
  • 2. Bauer, H. H., Sauer, N. E., and Exler, S. (2005). The loyalty of German soccer fans: Does a team’s brand image matter? International Journal of Sports Marketing and Sponsorship, 7(1), 8–16.
  • 3. Bowman, C., and Ambrosini, V. (2000). Value creation versus value capture: Towards a coherent definition of value in strategy. British Journal of Management, 11(1), 1–15.
  • 4. Braun, V., and Clarke, V. (2006). Using thematic analysis in psychology. Qualitative research in psychology, 3(2), 77–101.
  • 5. Byron, M. (1993). Using audio: Visual aids in geography research: Questions of access and responsibility. Area, 379–385
  • 6. Conn, D. (2013). Why Real Madrid think that even €100m for Gareth Bale is not silly money. The Guardian. http://www.theguardian.com/football/2013/sep/01/gareth-bale-100m-transfer-real-madrid
  • 7. Corrigan, D. (2017, January 25). Real Madrid remove cross from club crest in Middle Eastern clothing deal. ESPN. https://www.espn.com/soccer/real-madrid/story/3045880/real-madrid-remove-cross-from-club-crest-in-middle-eastern-clothing-deal.
  • 8. Deloitte Sports Business Group, Football Money League. (2015, January). Commercial breaks. https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Audit/gx-football-money-league-2015.pdf
  • 9. Deloitte Sports Business Group, Football Money League. (2019, January). Bullseye https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/sports-business-group/deloitte-uk-deloitte-football-money-league-2019.pdf,
  • 10. Deloitte Sports Business Group, Football Money League. (2020, January). Eye on the prize. https://www2.deloitte.com/bg/en/pages/finance/articles/football-money-league-2020.html
  • 11. Dixon, E. (2019, September 9) Report: Real Madrid expands Fanatics deal after taking retail in house. SportsPro Media. https://www.sportspromedia.com/news/real-madrid-expand-fanatics-deal-after-taking-retail-in-house-adidas
  • 12. Dolles, H., and Söderman, S. (2005). Ahead of the game - The network of value captures in professional football. Working Paper. German Institute for Japanese Studies, Tokyo.
  • 13. Dolles, H., and Schweizer, R. (2010, May, 19-22). Advancing the Network of Value Captures in the Football Business: The Everton Football Club-Case. 10th Annual Meeting of European Academy of Management, Rome, Italy.
  • 14. Dolles, H., and Söderman, S. (2013a). Twenty years of development of the J-League: Analysing the business parameters of professional football in Japan. Soccer and Society, 14(5), 702–721.
  • 15. Dolles, H., and Söderman, S. (2013b). The network of value captures in football club management: A framework to develop and analyze competitive advantage in professional team sports. In S. Söderman and H. Dolles (Eds.), Handbook of research on sport and business (pp. 367–395). Edward Elgar.
  • 16. Eddy, T. (2014). Measuring effects of naming-rights sponsorships on college football fans’ purchasing intentions. Sport Management Review, 17(3), 362–375.
  • 17. Ellen L. (2010, March) Increasing attendances at football clubs. Online report. https://www.mishcon.com/assets/managed/docs/downloads/doc_2420/Increasing_Attendances_in_the_Football_League_-_March_2010.pdf
  • 18. Ferrand, A., and Pages, M. (1999). Image management in sport organisations: the creation of value. European Journal of Marketing, 33(3/4), 387–402.
  • 19. Filo, K., Lock, D., and Karg, A. (2015). Sport and social media research: A review. Sport management review, 18(2), 166–181.
  • 20. Fyrberg Yngfalk, A. (2013) ‘It’s not us, it’s them!’ – Rethinking value co-creation among multiple actors’. Journal of Marketing Management 29(9-10): 1163–1181.
  • 21. Gabrielsson, C., and Dolles, H. (2017). Value capturing in Floorball, How equipment manufacturers and retailers contribute to the development of a “new” sport. Sport, Business and Management: An International Journal, 7(5), 542–559.
  • 22. Gomez, S., Kase, K., and Urrutia, I. (2010). Value creation and sport management. (1st ed.). Cambridge University Press, (Chapter 1).
  • 23. Harvey, W. S. (2011). Strategies for conducting elite interviews. Qualitative research, 11(4), 431–441.
  • 24. Hedlund, D. P. (2014). Creating value through membership and participation in sport fan consumption communities. European Sport Management Quarterly, 14(1), 50–71.
  • 25. Hoye, R., Smith, A., Nicholson, M., Stewart, B., and Westerbeek, H (2009). Sport management principles and applications. Elseiver
  • 26. Jenson, P. (2018). Real Madrid lose £351m naming rights deal for Bernabeu after talks break down. Daily Mail. https://www.dailymail.co.uk/sport/football/article-5324629/Real-Madrid-lose-351m-naming-rights-deal-Bernabeu.html
  • 27. Junghagen, S. (2018). Football clubs as mediators in sponsor-stakeholder relations. Sport, Business and Management: An International Journal, 8(4), 335–353.
  • 28. Kerai, H. (2013).Tottenham star Bale would be a worthwhile investment, claims Real Madrid president. Goal. https://www.foxsports.com/soccer/story/gareth-bale-would-be-investment-says-real-madrid-president-perez-060413
  • 29. Kolyperas, D., Anagnostopoulos, C., Chadwick, S., and Sparks, L. (2016). Applying a communicating vessels framework to CSR value co-creation: Empirical evidence from professional team sport organizations. Journal of Sport Management, 30(6), 702–716.
  • 30. Lamont, M., Hing, N., and Gainsbury, S. (2011). Gambling on sport sponsorship: A conceptual framework for research and regulatory review. Sport Management Review,14(3), 246–257.
  • 31. Letaifa, S. B. (2014). The uneasy transition from supply chains to ecosystems: The value-creation/value-capture dilemma. Management Decision, 52(2), 278–295.
  • 32. Lepak, D. P., Smith, K. G., and Taylor, M. S. (2007). Value creation and value capture: A multilevel perspective. Academy of management review, 32(1), 180–194.
  • 33. Madrigal, R., and King, J. (2018). Improving fit perceptions for an incongruent sponsorship: Associating a sports property to a brand via analogical articulation. Journal of Business, 124, 731-738.
  • 34. McDonald, H., and Karg, A. J. (2014). Managing co-creation in professional sports: The antecedents and consequences of ritualized spectator behavior. Sport Management Review, 17(3), 292–309.
  • 35. McNamara, P., Peck, S. I., and Sasson, A. (2013). Competing business models, value creation and appropriation in English football. Long Range Planning, 46(6), 475–487.
  • 36. Number of clubs sponsored by betting firms is ‘disturbing’, say campaigners (2018, July 30). The Guardian. https://www.theguardian.com/football/2018/jul/30/campaigners-concerned-championship-efl-clubs-sponsored-betting
  • 37. Mikecz, R. (2012). Interviewing elites: Addressing methodological issues. Qualitative Inquiry, 18(6), 482–493.
  • 38. Moore, N., and Stokes, P. (2012). Elite interviewing and the role of sector context : an organizational case from the football industry. Qualitative Market Research: An International Journal, 15(4), 438–464.
  • 39. Otker, T. (1988). Exploitation: the key to sponsorship success. European research, 16(2).
  • 40. Ozanian, M. (2019, May 29). The World’s most Valuable Soccer Teams 2019: Real Madrid Is Back On Top, At $4.24 Billion. Forbes. https://www.forbes.com/sites/mikeozanian/2019/05/29/the-worlds-most-valuable-soccer-teams-2019/#63bae1d740d6
  • 41. Patton, M. (1990). Qualitative evaluation and research methods (2nd ed.). Sage Publications, Inc.
  • 42. Pita, A. (2015). Oil money is making pro soccer look a little different. Public Radio International (PRI) Media Company. https://www.pri.org/stories/2015-01-18/oil-money-making-pro-soccer-look-little-different
  • 43. Porter, M. E. (1985). Competitive strategy: Creating and sustaining competitive advantage. New York:The Free Press, (Chapter 1).
  • 44. Real Madrid, Annual Report (2015/2016). https://www.realmadrid.com/en/members/member-card/annual-reports
  • 45. Real Madrid CF, Annual Report (2017/2018). https://www.realmadrid.com/en/members/member-card/annual-reports
  • 46. Real Madrid CF, Management Report and Financial Statements (2018/2019). https://www.realmadrid.com/en/members/member-card/annual-reports.
  • 47. Reysen, S., Snider, J. S., and Branscombe, N. R. (2012). Corporate renaming of stadiums, team identification, and threat to distinctiveness. Journal of Sport Management, 26(4), 350–357.
  • 48. Rodriguez-Pomeda, J., Casani, F., and Alonso-Almeida, M. D. M. (2017). Emotions’ management within the Real Madrid Football Club business model. Soccer and Society, 18(4), 431–444.
  • 49. Simón, J. A. (2017). Playing with our friends and making money: Real Madrid FC’s economic model and the impact of international friendly matches, 1955–1963. The International Journal of the History of Sport, 34(7-8), 517–534.
  • 50. Stabell, C. B., and Fjeldstad, Ø. D. (1998). Configuring value for competitive advantage : On chains, shops, and networks. Strategic Management Journal, 19(5), 413–437.
  • 51. Thrassou, A., Vrontis, D., Kartakoullis, N. L., and Kriemadis, T. (2012). Contemporary marketing communications framework for football clubs. Journal of Promotion Management, 18(3), 278–305.
  • 52. Transfermarkt (n.d.). Most valuable transfers https://www.transfermarkt.com/statistik/wertvollstetransfers
  • 53. Uhrich, S. (2014). Exploring customer-to-customer value co-creation platforms and practices in team sports. European Sport Management Quarterly, 14(1), 25–49.
  • 54. Vargo, S. L., and Lusch, R. F. (2006). Service-dominant logic: What it is, what it is not, what it might be. In R. F. Lusch, & S. L. Vargo (Eds.), The service-dominant logic of marketing: Dialog, debate, and directions (pp. 43–56). ME Sharpe.
  • 55. Verdin, P., and Tackx, K. (2015). Are you creating or capturing value? A dynamic framework for sustainable strategy. M-RCBG Working Paper Series, 36, 1-19.
  • 56. Why have Real Madrid lost the title of richest club in the world? (2017, January 29). Marca https://www.marca.com/en/football/realmadrid/2017/01/29/588e311de2704eaf778b462f.html
  • 57. Woratschek, H., Horbel, C., and Popp, B. (2014). The sport value framework - a new fundamental logic for analyses in sport management. European Sport Management Quarterly, 14(1), 6–24.
  • 58. Yin, R. K. (2009). Case study research: design and methods. (4th ed.) Sage Publications, Inc. (Chapter 1).
  • 59. Zagnoli, P., and Radicchi, E. (2010). The football fan community as a determinant stakeholder in value co-creation. Physical Culture and Sport. Studies and Research, 50(1), 79–99.
There are 59 citations in total.

Details

Primary Language English
Subjects Sports Medicine
Journal Section Articles
Authors

Merve Altun Ekinci 0000-0002-3952-3496

Pablo García-manitz 0000-0003-2264-845X

Alvaro Fernández-luna 0000-0002-8633-7311

Canan Koca Arıtan 0000-0001-7484-0545

Dr. Settar Koçak 0000-0002-8437-6181

Publication Date October 31, 2022
Submission Date May 18, 2022
Published in Issue Year 2022 Volume: 33 Issue: 3

Cite

APA Altun Ekinci, M., García-manitz, P., Fernández-luna, A., Koca Arıtan, C., et al. (2022). Marketing Strategies For Creating And Capturing Values: A Case Study Of Real Madrid Football Club. Spor Bilimleri Dergisi, 33(3), 163-179. https://doi.org/10.17644/sbd.1116368

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