Final answer:
The approach that is not common for market development in spectator sports is cost reduction, which is more about profitability than market expansion. Market development typically involves strategies like geographic expansion, product diversification, and market penetration to increase market share.
Step-by-step explanation:
The correct answer is d) Cost reduction. Market development strategies in spectator sports typically include geographic expansion, product diversification, and market penetration. These strategies are focused on expanding the reach of the sports organization and attracting new segments of consumers or entering new markets to increase revenue. The goal is to find new opportunities to grow the market for their product, whether that's by reaching a new geographic location, offering new products or variants (in sports, this could include new merchandise or different types of spectator experiences), or increasing sales within the existing market through promotion and sales initiatives.
Cost reduction, on the other hand, is generally a strategy more related to improving profitability by decreasing expenses rather than developing new markets. It does not directly relate to expanding markets but rather pertains to internal operations of the business. Economic debates often center around the actual benefits of sports teams and events on local economies, yet this is distinct from the concept of market development as it pertains to the specific approaches organizations take to grow their market share.