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Branding. Licensing. 2. Section 7.1 – Branding – Objectives. Explain the concepts of branding and brand equity Discuss the types of brands Describe how to develop an effective brand name. 3. Section 7.1 – Branding – The Importance of Branding.

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Branding


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    1. Branding Licensing 2

    2. Section 7.1 – Branding – Objectives • Explain the concepts of branding and brand equity • Discuss the types of brands • Describe how to develop an effective brand name 3

    3. Section 7.1 – Branding – The Importance of Branding • Sports organizations and companies strive to develop strong brands to differentiate themselves from one another • A Brand is a name, word or words, symbol, or design that identifies an organization and its products 4

    4. Section 7.1 – Branding – The Importance of Branding What’s in a Name? • A Brand Name is a word or words, letters, or numbers representing a brand that can be spoken • Ex. Gatorade or Los Angles Lakers • A Trade Name is the legal name of a company • Ex. Reebok • Exclusive rights to a brand or trade name can be obtained by registering that name with the U.S. Patent and Trademark Office • Name becomes a Trademark when it is registered • A trademark is a device that legally identifies ownership of a registered brand or trade name 5

    5. Section 7.1 – Branding – The Importance of Branding What’s in a Name?– cont. • Branding is important for building customer loyalty • Customers come to expect the same quality from the brands they buy or the teams they watch • Will become repeat customers once satisfied with product • Branding helps a company to introduce new products in a line of products • Customers familiar with the original brand are more likely totrust a new product with the same brand • Creates an image for the product 6

    6. Section 7.1 – Branding – The Importance of Branding Brand Personality • Attaching human traits to a brand name 7

    7. Section 7.1 – Branding – The Importance of Branding Brand Equity • The value a brand has beyond its actual functional benefits • Brand value becomes a competitive advantage because customers will equate brand with quality Establishing the brand name: • Develop the brand in the customer’s mind as part of a class of products • Link the product’s brand name to its function and make some type of emotional connection • Help consumers think and feel the way you want them to regarding your product 8

    8. Section 7.1 – Branding – The Importance of Branding Brand Equity – cont. • Brand equity also have financial value through licensing • Licensing is allowing another company to use brand name, patent, or any other item for a fee or royalty • Ex. NFL or NBA my allow a clothing manufacturer to use its name or logo to produce and sell sports apparel • Logos, or distinctive symbols, immediately identify a company or organization

    9. Section 7.1 – Branding – Types of Brands and Strategies Manufacturer Brands • Owned by the producer of the product • Use multi-product branding, multi-branding, and co-branding Multi-Product Branding • When a manufacturer uses one name for all its products • Strong promotional campaign can be developed to create an image for all products • Ex. All Nike products carry the Nike name • Brand extension is another strategy which uses an existing brand name for an improved or new product in the product line 10

    10. Section 7.1 – Branding – Types of Brands and Strategies Manufacturer Brands – cont. Multi-Branding • Each product in a product line has a distinctive name • Used for products that target different customers • Advantages: • Each product has its own distinctive image • If product fails, its failure does note effect other products made by manufacturer • Disadvantages: • Cost of creating separate promotional plans for each product can be expensive 11

    11. Section 7.1 – Branding – Types of Brands and Strategies Manufacturer Brands – cont. Co-Branding • Combines one or more brands to increase customer loyalty and sales for each product • Two different manufacturers may partner to produce one product • Works well when products compliment each other • Ex. NASCAR Sprint Cup & Nationwide Series • Co-branding reinforces both of the products in the eyes of consumers 12

    12. Section 7.1 – Branding – Types of Brands and Strategies Intermediary Brands • Carries a name developed by the wholesaler, retailer, or catalog house • Intermediaries contract with manufacturer to make products that are sold under their own private labels Generic Brands • Represents a general product category and does not carry a company or brand name • Not likely to find generic brands of apparel or equipment in sports industry 13

    13. Section 7.1 – Branding – Developing Brand Names • Choosing and developing a good brand name requires thought and planning • Brand names should: • Offer a benefit • Be simple • Be different and positive • Reflect an image • Be previously unregistered • Make it last 14

    14. Section 7.1 – Branding – Developing Brand Names Offer a Benefit • Good brand names will offer the customer value • Ex. University of Florida football players played better as a result of the sport drink developed for them (Gatorade) Be Simple • Simple sports names are more memorable • Ex. Nike, Reebok, Adidas Be Different and Positive • Brand names should project a positive image that is distinctive for the consumers • Ex. Puma, Eagles, Phillies 15

    15. Section 7.1 – Branding – Developing Brand Names Reflect an Image • Branding should say something about your product • Ex. Wheaties being the “Breakfast of Champions” • Positive association with sports industry helps to create a distinctive image Be Previously Unregistered • Brand names cannot be previously registered with the U.S. Patent and Trademark Office • Patent and Trademark Office may prevent names that are too similar to one already used or one that misleads a consumer 16

    16. Section 7.1 – Branding – Developing Brand Names Make it Last • Names, symbols, devices, or slogans helps to communicate the type of business and products to customers • Effective branding comes from understanding the product and organization and understanding how to get the message across to consumers

    17. Section 7.2 – Licensing – Objectives • Discuss product licensing and how licensed goods are merchandised • Explain the importance of sports sponsorships and endorsements • Discuss how companies choose sports endorsers for their products 18

    18. Section 7.2 – Licensing – Licensing and Merchandising • Sports teams and athletes may have licensing agreements with product manufacturer • Licensing is an agreement that gives a company the right to use another’s brand name, patent, or other intellectual property for a royalty or fee • The licensor is the company or individual granting the license • The licensee is the company or individual paying for the rights to use the licensor’s name or property • Licensed merchandise can bear the name, logo, or other characteristics of the licensor 19

    19. Section 7.2 – Licensing – Licensing and Merchandising Licensed Products • A company may pay a fee to use a league’s, team’s, or individual’s name, image, or logo on a product or on the product’s packaging • College sports teams also have licensing agreements with product manufacturing • Advantages for sports organizations and companies: 20

    20. Section 7.2 – Licensing – Licensing and Merchandising The Products • Licensing agreements can apply to just about any product imaginable • Ex. Apparel, key chains, toys, sports equipment, etc. • Licensor must be careful to select products that reflect the image its brand name has in the public eye • If licensing agreement is with a company that produces poor-quality merchandise, the licensor’s image may be damaged • Ex. Licensed products carrying the Olympic logo are viewed positively • Ex. Franchises that are successful will generate more sales than unsuccessful franchises 21

    21. Section 7.2 – Licensing – Licensing and Merchandising Merchandising Licensed Goods Retail stores promote the fact that they carry licensed goods Special promotional deals create partnerships between licensor and licensee to help boost store traffic and retail sales of licensed products Ex. Sweepstakes and contests Some licensed products are used as promotional incentives for customers to buy a product Magazines give away for subscription • Most licensed merchandise in the past were only available the event venue • Many channels are used today to distribute products now: • Department stores • Chain stores • League-sponsored retail outlets • Internet • Organization owned Web sites and retail stores 22

    22. Section 7.2 – Licensing – Sponsorships and Endorsements • Two forms of licensing: • Sponsorships • Ex. Olympics • Endorsements • Ex. NASCAR 23

    23. Section 7.2 – Licensing – Sponsorships and Endorsements Sponsorships • Sports events generate income from broadcast rights, ticket sales, merchandising, and sponsorships • Sponsorships are the promotional vehicles that financially support sports events • All major sports organizations use sponsorships to help finance their operations • Promotional packages for sponsors may include: • Licensing rights, stadium promotions, products, free tickets, etc. • Additional benefits may include exposure to sponsor’s products through use by the athletes or the organization 24

    24. Section 7.2 – Licensing – Sponsorships and Endorsements Importance of Sponsorships • Sports organizations need the money generated from corporate sponsors to help pay their significant costs and expenses • Sponsorship benefits corporations by: • Exposure of their products through their promotional efforts and free publicity • Sports events can be used to target consumers and promote products • Corporate image can be enhanced and sales revenue can increase through association with event • Sponsorship can be seen in promotional activities • Ex. Kodak creating a special camera to sell during Olympics and run contests and sweepstakes surrounding events • Coordinated promotional efforts help generate store traffic and sales of products 25

    25. Section 7.2 – Licensing – Sponsorships and Endorsements Types of Sponsorship • Can be flexible • Sponsor a team for length of time • Sponsor just an event • Sponsor just a portion of an event (Halftime show, Pre-game show) • Strategies integrate the company name into the game itself, providing a form of direct advertising 26

    26. Section 7.2 – Licensing – Sponsorships and Endorsements Types of Sponsorship Signage • Sponsor names that appear on scoreboards, floorboards, rafters, etc. in a stadium or arena • Purchased by sponsors, provides direct advertising for sponsors without paying for airtime 27

    27. Section 7.2 – Licensing – Sponsorships and Endorsements Premium Sponsors • Companies pay more to be the official or title sponsor • Receives more options and opportunities • Examples: • Entitlements – There is only one major sponsor for an event • NASCAR Sprint Cup Series • PGA entitlement sponsorship for almost all of it’s tour events 28

    28. Section 7.2 – Licensing – Sponsorships and Endorsements Premium Sponsors • Examples – cont.: • Facility Entitlements – company purchases the promotional rights to an entire stadium • Stadiums/Arenas are renamed to publicize their sponsorships • The sponsor receives exposure in all the events that are held at the stadium during the season and off-season 29

    29. Section 7.2 – Licensing – Sponsorships and Endorsements Premium Sponsors • Examples – cont.: • Product Exclusivity– only one product in a product category is granted sponsorship • Prevents competitors from selling or promoting their products during the sponsored events • On-site merchandising that excludes the competition results in increased profits, as well as exposure of sponsored products 30

    30. Section 7.2 – Licensing – Sponsorships and Endorsements Endorsements • A statement of approval of a product, service, or idea made by an individual or organization speaking on behalf of the advertiser • Involves using a celebrity or public figure to represent and promote a company and that company’s products • Sports figures image is used in print, broadcast media, product packaging, billboards, and collectibles • May require a set number of public appearances at various events sponsored by the company • Sports figure lends familiarity and credibility to the product

    31. Section 7.2 – Licensing – Sponsorships and Endorsements Endorsements Association • Endorsement that involves an association with the product • No direct relationship between product and athlete, but association will help sell product • Successful athletes who project a positive image will be used Demographic Match • Company choose sports figure who matches the demographic profile of its customer base Successful Careers • Top sports endorsers come from all sports and all have successful careers or look to have promising careers • Some sports celebrities are so outstanding that companies create product lines using their name

    32. Section 7.2 – Licensing – Sponsorships and Endorsements Endorsements – cont. Image • Products sell when the endorser has a positive image and is popular • Sports celebrities who endorse products of major companies must be role models in the public eye • Most endorsement contracts have clauses in them that will release the company from the contract if that celebrity’s image is tainted due to problems with the law or athletic performance • Companies do not want its products associated with a person who is not seen as a positive role model

    33. Section 7.2 – Licensing – Sports Appeal • Companies associate their products will well-known sports organizations to reach new customers and strengthen their relationship with their existing customers • Through licensing, sponsorships, or endorsements, companies can generate positive publicity and achieve their marketing goals of increasing brand awareness and sales. 34