Final answer:
Sport marketers focusing on short-term gains at the expense of long-term consumer needs engage in a practice known as short-termism or myopic marketing. This strategy often leads to economically detrimental spending and may ignore the true preferences of consumers for the sake of immediate profits.
Step-by-step explanation:
When sport marketers focus on short-term gains rather than examining the long-term needs of consumers, it's often referred to as short-termism or myopic marketing. This approach prioritizes immediate financial returns over the development of sustainable marketing strategies that benefit consumers and the company in the long run. Such a strategy may involve aggressive product advertising and limited attention to product improvement or consumer relationship building. A typical consequence of short-termism can be spending in a way that impacts the local economy negatively, leading to its shrinkage instead of growth.
The economic development strategy that heavily relies on the allure of immediate profit could lead to a disconnection from the real needs and preferences of consumers. Continual product changes to keep the market artificially active, such as creating an unnecessary variety of products, can be seen as socially wasteful. In a market-oriented economy, firms are expected to be in a good position to attract more customers or produce more efficiently, but this sometimes comes at the expense of ignoring longer-term implications.