Report of 7th September class.

On Wednesday, 7th of September we had a very nice class wit Arjun sir.He gave us some details of economics and marketing in sports but mainly on formula 1 which is very much in news nowadays.
He taught us tremendously about the factors involved in economics like land,labor,capital,technology and enterprise.He focused on the reasons behind the big brands like Mercedes being advertised through formula 1 race.One reason could be that it is the easiest way to enter in the mind of consumers.For instance,whoever would be watching these cars on the race circuit would like to buy these brands' cars.They could be thinking of same performance by the cars on the roads as on circuit.Further it would create research and development for the improvement of technology.The reason behind the best Japanese technology in the world is their psychology of transferring of technology on the road cars and they prepare better engineers.Also, they get very high competition from around the world and everybody in a company has similar thinking & work towards the common goal.Cost price is also one of the main factors.So.Total Quality Management(TQM) is must for the development.
He also mentioned about the golf.In golf,consumers are mainly business minded.That's why it is being played by the corporates and elite class of the society.Parents consider brand value when they involve their child into Golf.
Then he diverted our mind to cricket to create in the subject as cricket is being admired by almost everyone.We discussed about the main factors behind the defeat of India on current English tour.There are some factors like lack of rest, injuries,changing environmental conditions,improper team etc.Money could also be one of the main factors players earn more in the IPL.But apart from that BCCI is a main culprit.It should have scheduled and planned the tour and matches correctly with the ICC.Warm up and tour matches are must before starting of any event to adjust to the conditions, to know the fitness level of players and their form and to make better co-ordination etc.but unfortunately BCCI is right now only focusing on making money.