Managing Sport Brands: Building Strong Associations for Success

1. chapter8 Managing Sport Brands

2. Objectives • To understand and discuss the full scope and importance of brand management and branding in the sport setting • To demonstrate an understanding of how brand equity is developed in a variety of sport settings • To identify and discuss the sources of brand associations for teams, athletes, agencies, and other sport entities

3. Brand • It is the name, logo, and symbols associated with the sport organization. • The brand name and marks associated with a sport organization serve to provide a point of differentiation from the other sport products that exist in the marketplace. • The brand name, logos, marks, and colors of a sport organization serve as a starting point in the brand management process.

4. Brand Equity “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” (see endnote 10 in book)

5. Benefits of Brand Equity • Less drastic revenue declines when the team loses • Ability to charge price premiums • More corporate interest • Licensing and merchandising opportunities

6. 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 creation of a brand image: • The cumulative impact of all the associations with a particular brand • Goal is to develop unique, strong, and favorable brand associations

7. Sources of Brand Association With Teams • Logo, marks, nickname, and mascot • Owner • Players • Head coaches • Rivalries • Entertainment package surrounding the game or event • Logo, nickname, and associated extensions • Stadium or arena in which a team plays

8. Associations Formed Based on the Benefits of Consumption • Nostalgic • Social • Identification with a team • Identification with a city

9. Brand Association Formation for Sponsors • One motivation for companies to sponsor sporting events or programs is to either enhance or reinforce the brand associations with their company. • The image of a sport entity can help create strong, unique, and favorable associations for the sport brand.

10. Brand Association Formation for Athletes • Since professional athletes can make money from corporate endorsements, having strong, unique, and favorable associations is very important for an athlete. • Athletes can create strong positive or negative associations: • On the playing court or field • Off the playing court or field

11. Brand Association Formation for Agencies • While 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.

12. 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.