Chapter 8 Managing Sport Brands. Objectives To understand and discuss the full scope and importance of brand management and branding in the sport setting.

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Presentation transcript:

chapter 8 Managing Sport Brands

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

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.

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)

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

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

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

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

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.

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

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.

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.