Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
It is Colorado's Morning News. CNBC's latest report on the
most valuable sports ownership groups, ranking Kronki Sports and Entertainment
first on the list a value of twenty one point
one seven billion dollars. Kronki's team portfolio includes the NFL's
La Rams, the Denver Nuggets, of course, the Colorado Avalanche,
and the English Premier League's Arsenal.
Speaker 2 (00:18):
Also.
Speaker 3 (00:19):
Amazon Prime Day or Days this year currently in its
third day, running from now through tomorrow, making it a
four day event. Joining us now on the KWA Commet
Spirit Health Hotline is retired MSU Denver Marketing Professor Senior
Lecturer Professor Darren duber Smith. Thank you so much for
your time as always. Okay, let's start with this Amazon
Prime Days. We can say now is longer better When
(00:41):
we talk about these deals, are people taking advantage of
a four day long sales event?
Speaker 2 (00:47):
I mean they are. But the problem with sales promotions
is that they're supposed to be short term incentives and
they're supposed to stimulate, you know, purchase, and when you
over extend a promotion, it dilutes the effect and it
often loses its effect, and so you're just kind of
robbing Peter to pay Paul. You're spreading more sales over
more days, and it just I think it just shows
(01:08):
weakness on the part of the marketer because they have
to extend the promotion in order to get the objectives
that they're trying to achieve. So probably not, you know,
great for Amazon. It's I think you know, maybe Prime
Day or Prime Week is maybe where Black Friday is
where it's just become you know, too ubiquitous, and there's
just too much of it on that and maybe the
discounts really aren't as deep as they should be.
Speaker 1 (01:30):
And I apologize that, professor. And on that note, I
noticed other businesses are really piggybacking on the idea. Is
that smart of them to do that or does it
just cause confusion in the marketplace or is that the
point it is?
Speaker 2 (01:41):
The point is it's confusion. It's dilution. You really want
to dilute the effectiveness of the powerful marketers strategy, and
you do that, you know, by by offering the same promotions,
by doing price matching and things like that. This is
just one oh one for retailers and we get really
used to it during the Black Friday time. As we know,
has crept all the way out to Halloween, and that
(02:03):
whole day and that whole weekend has lost its effectiveness.
We've really been looking for Amazon to do this for
a long time. It just gets to a point where
you stretch it out and the sales promotion just loses
its overall effectiveness. But we are talking about it.
Speaker 3 (02:16):
Yeah, exactly, that's that's true.
Speaker 2 (02:18):
True, that's what it is. And Amazon doesn't really need
the stimulus. They're, if not the largest retailer, the second
largest retailer, and so I don't think they really need
to resort to these tactics to get and keep customers.
They can just roll along and leave the sales promotions
to the weaker players.
Speaker 3 (02:35):
Bloomberg reported that Amazon Prime Day sales plunged forty one
percent in the first day of that four day event.
So are people not going to Amazon and going to
those other retailers like Walmart and Target who are trying
to do their own sales during the same time.
Speaker 2 (02:50):
Yeah, I think that's part of what's going on. Plus,
I think they're stretching out the sale and so if
people know that they have four days, there isn't as
much of a call to action there isn't as much
of a sense of urgency, which frankly is part of
what makes a sales promotion effective. Is that sense of urgency,
and I call that action. And when you extend it
out and of course your competitors are doing the same thing,
(03:12):
the whole thing is just is just diluted and it
just doesn't become effective anymore other than the publicity that
they're getting. You know, they're just really robbing themselves of
sales they probably would otherwise already get.
Speaker 1 (03:24):
Let's pivot over to the report from CNBC about the
most valuable sports ownership groups and of course number one,
which in our backyard here Kronky Sports and Entertainment. Are
you surprised by that at all? And I realized these
sports franchises, they are a public trust. But is the
wealth more in the facilities, the infrastructure surrounding it, the
development of buildings and that more than the teams themselves.
Speaker 2 (03:47):
Good point. You know, we've seen that certainly with the
Montforts and their you know area around cores Field that
they have developed. And there's certainly these developments that are
going in around these stadiums, these La Live type projects
that are everywhere. I think you've hitching the nail on
the head. Not only do they have really valuable properties
(04:08):
sports properties in the teams, they also are vertically integrated.
They own the stadiums and so you own the land
around the stadiums, and so vertically integration is really the
key to success of a marketer, where you own the
supply chain and you control things and you make more
profit at every level. And so, kron Key, it's been
so fun watching them build this empire. But it does
(04:29):
not surprise me that they are the most valuable. They
seem to be the most vertically integrated, and they own
expensive properties. And don't forget the mammoth and the rapids
and all that other stuff.
Speaker 1 (04:40):
Too, right, And a quick follow up to that as
we wrap up with you, does it also signal that
they're good stewards, good owner, successful owners of that. Maybe
the money doesn't always equate to that, but if you
see that saying, well, they must be doing something right
when it comes to success on or off the field,
but on the field on the pitch as well, you're
absolutely right.
Speaker 2 (05:00):
Success of the teams, certainly with championships and things like that,
really feeds into the profitability and feeds into the size,
and of course, you know, we've had we've had some
franchises that have struggled and cities do and that's just
the way it is. You can be very profitable and
still lose games. But the Kronkeys have really done a
tremendous job of building this stuff and Josh coming up
(05:22):
as basically a kid into into you know, one of
the top executives in the industry. I think the Monforts
are trying to do the same thing with their kids,
but obviously it's a completely different situation over there. We
should be very, very proud of Kronkey, and I remember
they took a lot of flak when they came in,
you know, the big Walmart family coming in with the
English premier team and I don't know if we can
(05:42):
we need this, and so it's just nice to see
everything come around and we've got really a company that
we can be very proud of here.
Speaker 3 (05:49):
Retired MSU Denver Marketing Professor and senior lecturer It's Professor,
Darren Dupersmith
It is Colorado's Morning News. CNBC's latest report on the
most valuable sports ownership groups, ranking Kronki Sports and Entertainment
first on the list a value of twenty one point
one seven billion dollars. Kronki's team portfolio includes the NFL's
La Rams, the Denver Nuggets, of course, the Colorado Avalanche,
and the English Premier League's Arsenal.
Speaker 2 (00:18):
Also.
Speaker 3 (00:19):
Amazon Prime Day or Days this year currently in its
third day, running from now through tomorrow, making it a
four day event. Joining us now on the KWA Commet
Spirit Health Hotline is retired MSU Denver Marketing Professor Senior
Lecturer Professor Darren duber Smith. Thank you so much for
your time as always. Okay, let's start with this Amazon
Prime Days. We can say now is longer better When
(00:41):
we talk about these deals, are people taking advantage of
a four day long sales event?
Speaker 2 (00:47):
I mean they are. But the problem with sales promotions
is that they're supposed to be short term incentives and
they're supposed to stimulate, you know, purchase, and when you
over extend a promotion, it dilutes the effect and it
often loses its effect, and so you're just kind of
robbing Peter to pay Paul. You're spreading more sales over
more days, and it just I think it just shows
(01:08):
weakness on the part of the marketer because they have
to extend the promotion in order to get the objectives
that they're trying to achieve. So probably not, you know,
great for Amazon. It's I think you know, maybe Prime
Day or Prime Week is maybe where Black Friday is
where it's just become you know, too ubiquitous, and there's
just too much of it on that and maybe the
discounts really aren't as deep as they should be.
Speaker 1 (01:30):
And I apologize that, professor. And on that note, I
noticed other businesses are really piggybacking on the idea. Is
that smart of them to do that or does it
just cause confusion in the marketplace or is that the
point it is?
Speaker 2 (01:41):
The point is it's confusion. It's dilution. You really want
to dilute the effectiveness of the powerful marketers strategy, and
you do that, you know, by by offering the same promotions,
by doing price matching and things like that. This is
just one oh one for retailers and we get really
used to it during the Black Friday time. As we know,
has crept all the way out to Halloween, and that
(02:03):
whole day and that whole weekend has lost its effectiveness.
We've really been looking for Amazon to do this for
a long time. It just gets to a point where
you stretch it out and the sales promotion just loses
its overall effectiveness. But we are talking about it.
Speaker 3 (02:16):
Yeah, exactly, that's that's true.
Speaker 2 (02:18):
True, that's what it is. And Amazon doesn't really need
the stimulus. They're, if not the largest retailer, the second
largest retailer, and so I don't think they really need
to resort to these tactics to get and keep customers.
They can just roll along and leave the sales promotions
to the weaker players.
Speaker 3 (02:35):
Bloomberg reported that Amazon Prime Day sales plunged forty one
percent in the first day of that four day event.
So are people not going to Amazon and going to
those other retailers like Walmart and Target who are trying
to do their own sales during the same time.
Speaker 2 (02:50):
Yeah, I think that's part of what's going on. Plus,
I think they're stretching out the sale and so if
people know that they have four days, there isn't as
much of a call to action there isn't as much
of a sense of urgency, which frankly is part of
what makes a sales promotion effective. Is that sense of urgency,
and I call that action. And when you extend it
out and of course your competitors are doing the same thing,
(03:12):
the whole thing is just is just diluted and it
just doesn't become effective anymore other than the publicity that
they're getting. You know, they're just really robbing themselves of
sales they probably would otherwise already get.
Speaker 1 (03:24):
Let's pivot over to the report from CNBC about the
most valuable sports ownership groups and of course number one,
which in our backyard here Kronky Sports and Entertainment. Are
you surprised by that at all? And I realized these
sports franchises, they are a public trust. But is the
wealth more in the facilities, the infrastructure surrounding it, the
development of buildings and that more than the teams themselves.
Speaker 2 (03:47):
Good point. You know, we've seen that certainly with the
Montforts and their you know area around cores Field that
they have developed. And there's certainly these developments that are
going in around these stadiums, these La Live type projects
that are everywhere. I think you've hitching the nail on
the head. Not only do they have really valuable properties
(04:08):
sports properties in the teams, they also are vertically integrated.
They own the stadiums and so you own the land
around the stadiums, and so vertically integration is really the
key to success of a marketer, where you own the
supply chain and you control things and you make more
profit at every level. And so, kron Key, it's been
so fun watching them build this empire. But it does
(04:29):
not surprise me that they are the most valuable. They
seem to be the most vertically integrated, and they own
expensive properties. And don't forget the mammoth and the rapids
and all that other stuff.
Speaker 1 (04:40):
Too, right, And a quick follow up to that as
we wrap up with you, does it also signal that
they're good stewards, good owner, successful owners of that. Maybe
the money doesn't always equate to that, but if you
see that saying, well, they must be doing something right
when it comes to success on or off the field,
but on the field on the pitch as well, you're
absolutely right.
Speaker 2 (05:00):
Success of the teams, certainly with championships and things like that,
really feeds into the profitability and feeds into the size,
and of course, you know, we've had we've had some
franchises that have struggled and cities do and that's just
the way it is. You can be very profitable and
still lose games. But the Kronkeys have really done a
tremendous job of building this stuff and Josh coming up
(05:22):
as basically a kid into into you know, one of
the top executives in the industry. I think the Monforts
are trying to do the same thing with their kids,
but obviously it's a completely different situation over there. We
should be very, very proud of Kronkey, and I remember
they took a lot of flak when they came in,
you know, the big Walmart family coming in with the
English premier team and I don't know if we can
(05:42):
we need this, and so it's just nice to see
everything come around and we've got really a company that
we can be very proud of here.
Speaker 3 (05:49):
Retired MSU Denver Marketing Professor and senior lecturer It's Professor,
Darren Dupersmith
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.