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Chapter 7 Managing Sport Brands

Chapter 7 Managing Sport Brands. C H A P T E R. 7. Managing Sport Brands. TERMS. Brand Brand Equity Licensing Merchandising Brand Awareness Brand Association Branding. What Is Branding?.

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Chapter 7 Managing Sport Brands

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  1. Chapter 7 Managing Sport Brands C H A P T E R 7 Managing Sport Brands

  2. TERMS Brand Brand Equity Licensing Merchandising Brand Awareness Brand Association Branding

  3. What Is Branding? • The brand name and marks associated with a sport organization (such as a logo) serve to provide a point of differentiation from the other sport products that exist in the market place. • The brand name, logos, marks, and colors of a sport organization serve as a starting point in the brand management process. • Example: The NIKE name and the NIKE swoosh (Nike Brand) • Brand names can trigger emotions, feelings, and attitudes. • Example: The Boston Red Sox fan hear their team’s name they remember the 2004 World Series, Green Monster, and it gives them a badge of identity. • Example: Labron James is now considered the best basketball player on the planet. He changed teams, did his brand suffered? (continued)

  4. Sheryl Swoops and the NIKE brand For too long, female players made do with takedowns of men’s models, hunting for smaller sizes or falling victim to the industry’s shrink and pink afterthought approach to the market. The Nike Air Swoops was developed with Sheryl’s close assistance, ensuring it catered to the female foot and Her Airness’ needs. The shoe’s lead designer, Marni Gerber, based the design on Swoopes’ personality. “It was inspired by Sheryl's tenacity and her desire to be in the face of her competition. I went to Lubbock, Texas to see her life, her family and friends. She was a tough girl with a sweet side.”

  5. The Video SHERYLS SWOOPS

  6. The Highest-Paid Female Athletes 2018The Most Marketable Female Athletes. • Serena Williams — Total earnings: $18.1 million. • Prize money: $62,000. • Endorsements: $18 million. • Caroline Wozniacki — Total earnings: $13 million. • Prize money: $7 million. • Endorsements: $6 million. • Sloane Stephens — Total earnings: $11.2 million.

  7. Brand Equity • Defined: • as “a set of assets and liabilities linked to a brand, its name and symbol, that add to or subtract from the value provided by a product or service to a firm and/or that firm’s customers.” • When a sport organization is able to achieve a strong image in the consumer’s mind, it realizes brand equity.

  8. Benefits of Brand Equity 1. Less drastic revenue declines when the team loses 2. Ability to charge price premiums 3. More corporate interest 4. Licensing and merchandising opportunities: Sport organization can launch new products to enhance revenue. Sport organization can take advantage of their brand strength to sell team-logoed merchandise.

  9. Table 7.1

  10. Developing Brand Equity The creation of awareness about the brand: the ability of a consumer to name the brand’s existence when its product category is mentioned. The two most important component to build brand equity are: brand awareness brand Image

  11. BRANDING • Example of branding awareness: • Heisman Trophy PR

  12. Brand Associationsin Other Realms of Sport Sponsors Athletes Agencies Health clubs Companies

  13. Brand Association Formationfor Sponsors • Many companies sponsor sporting events or teams to enhance or reinforce the brand associations with their company in hopes that the brand equity of the sport event or team will transfer to the company. • The image of a sport entity can help create strong, unique, and favorable associations for the sport brand.

  14. Brand Association Formationfor Athletes • Because professional athletes can make money from corporate endorsements, having strong, unique, and favorable associations is important for an athlete. • Athletes can create strong positive or negative associations • on the playing court or field or • off the playing court or field. • Having great business sense.

  15. Brand Association Formationfor Agencies Although they are visible behind the scenes, agencies are not visible to the sport consumer. Associations are created through the clients they represent, people who work for them, and area of specialization.

  16. Brand Associations for Health Clubs Potential associations are related to services and equipment provided, staff, size and quality of facility, cost, amenities, and crowd size.

  17. ASSIGNMENT: 1.TERMS Activities: 1,2,4, and 5 (Handout) Due After Break

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