What does "patronage" in sports marketing refer to?

In sports marketing, "patronage" refers to the emotional and financial support of customers. This concept encompasses the relationship that fans and consumers develop with sports teams, events, and organizations based on their loyalty, engagement, and commitment. When individuals support a sport or team, they often do so by attending games, purchasing merchandise, or promoting the brand within their communities, which fosters a strong connection between the patrons and the entity they support. This type of patronage not only involves financial backing but also reflects a deeper emotional investment, which is vital for the long-term success and sustainability of sports organizations.

The other options describe different aspects of sports marketing but do not accurately represent the broader concept of patronage. Direct funding of sports events is more transactional, while loyalty programs cater to customer retention strategies. Pricing strategies relate specifically to how merchandise is marketed and sold, rather than focusing on the supportive relationship between customers and the sports entity. Thus, understanding patronage as encompassing both emotional and financial support captures its true essence in the context of sports marketing.