Branding in Sports and Entertainment Unit 4: Branding and Promotions

What’s In a Brand? Brand Name: Brand Name – word(s), letters or numbers representing a brand that can be spoken Logo: symbol, not spoken Purpose: To distinguish and differentiate from competition—create a market position! Legally identifies ownership of a brand through trademarks Shape, Color, Scent, Sound & Motion

Why Trademark? Trademarking protects in the US But what about internationally? World Intellectual Property Organization Member states can operate under Madrid Agreement & Protocol in order to avoid filing paperwork in each country Protects trademark rights for 10 year periods

Types of Brands Manufacturer/Corporate Co-branding Product Brand Owned by the producer of the product Co-branding Combines one or more brands to increase customer loyalty and sales for the product Ex: Crash the Super Bowl Contest (Pepsi-Cola, Frito-Lay) Product Brand Represents a particular product owned by a company Ex: Frito-Lay - Doritos Private Label or Store developed by the wholesaler or retailer May contract with manufacturers to make products that are sold under their own private labels Generic A general product category and does not carry a brand name

What’s In a Name Offers a benefit Positive and different Easy to say and remember Translates to a recognizable logo Consistent with other product lines, city/organization Legally and ethically permissible (not previously registered) NIKE Means "victory" in Greek. Nike was the Greek goddess of victory The Nike Swoosh logo represents the wing in the famous statue of the Greek Goddess of victory, Nike, who was the source of inspiration for many great and courageous warriors.

Brand Evolution 1950-1960’s: branding was developed to reflect lifestyles, creating brand personalities 1970’s-1990’s: use brands to create positions Unique associations and places in peoples minds Current: use brands to create equity—give value! Easily recognized brands, sleek logos

This Week’s Project Creating Your Fantasy Brand! Elements of project Establish your team name and market position! Completing Project Elements Logo Design Uniforms Tile!

Building a Brand

Building Brands 1. Brand Awareness - Try to get consumers to recognize/ remember the brand ◦ Disney begins to target newborns at the hospital 2. Brand Image - Consumer perceptions linked to a particular brand (health, excitement, fun, family) ◦ Ex: Disney is associated with family fun and entertainment 3. Brand Equity - value that the brand contributes to a product in the marketplace ◦ Ex: Nike has long been associated with top level athletes and quality products 4. Brand Loyalty - once the brand exhibits high levels of equity, consumers are prone to become brand loyal or purchase only your brand ◦ Vacations to Disney, Disney movies, Disney products, etc

Brand Equity 1. Develop the brand in the customer’s mind as part of a class of products. Ex: Gatorade is a sports drink Ex: Falcons are a professional football team 2. Link the product’s name to its function and make some type of emotional connection with the product Ex: Gatorade helps athletes to perform better in athletic events Ex: Falcons fans think positively about the organization/players 3. Help consumers think and feel the way you want them to regarding your product. • Ex: Gatorade is the best product of choice for successful athletes • Ex: Falcons fans stick with their team through good/bad seasons because of the bond they have with the team

Brand Extension Use of a successful brand name to launch a new or modified product or service in a new market Examples :Musicians Sean “P. Diddy” Combs (Sean John Clothing) Actress Sarah Jessica Parker apparel line (Bitten) Entertainment/Film franchise – a planned series of films, programs, or character portrayals; Ex: Harry Potter (highest grossing film franchise – $4.4B) Similar to a sequel which takes advantage of the popularity of the film and may not be originally planned Ex: The Mummy and Jurassic Park sequels TV Franchises or character spin-off shows Crossover – expansion of the popular appeal of an artist by achieving success in another market or style Ex: Shaquille O’Neal has acted in films

The Power of Strong Brand Power to create business value and impact Create competitive advantage, price premiums, and decrease cost of entry intro new markets/categories Reduce business risk and attract and retain talented employees