allisonsenglishtidbits.blogspot.com

allisonsenglishtidbits.blogspot.com

athletics.psu.edu

Brand

Brand NameTrademarkBrand PersonalityBrand Equity (Top Brand Equities)– Develop – Brand in a class of products– Link – Brand with emotional connection– Help – customers believe what you want them to believe

about your brand

Kanye West Branding

Types of Brand Strategies

Manufacturer BrandIntermediary BrandGeneric Brand

Manufacturer Brand

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

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

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. Nationwide Series– Co-branding reinforces both of the products in the eyes of

consumers

Intermediary Brand

northbendace.com

http://www.cabelas.com

Generic Brands

Develop Brand Names

Offer a benefitBe simpleBe different and positiveReflect an imageBe previously unregistered

Section 7.2 – Licensing – Objectives

Discuss product licensing and how licensed goods are merchandisedExplain the importance of sports sponsorships and endorsementsDiscuss how companies choose sports endorsers for their products

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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 licenseThe licensee is the company or individual paying for the rights to use the licensor’s name or propertyLicensed merchandise can bear the name, logo, or other characteristics of the licensor

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Section 7.2 – Licensing – Licensing and Merchandising

Licensed ProductsA 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 packagingCollege sports teams also have licensing agreements with product manufacturingAdvantages for sports organizations and companies:

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Section 7.2 – Licensing – Licensing and Merchandising

The ProductsLicensing 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

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Section 7.2 – Licensing – Licensing and Merchandising

Section 7.2 – Licensing – Licensing and Merchandising

Merchandising Licensed GoodsMost licensed merchandise in the past were only available the event venueMany channels are used today to distribute products now:– Department stores– Chain stores– League-sponsored retail

outlets– Internet– Organization owned Web sites

and retail stores

Retail stores promote the fact that they carry licensed goodsSpecial promotional deals create partnerships between licensor and licensee to help boost store traffic and retail sales of licensed products– Ex. Athlete Signs Autographs at store

Some licensed products are used as promotional incentives for customers to buy a product– Video’s for subscription to SI

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Two forms of licensing:– Sponsorships

• Ex. Olympics– Endorsements

• Ex. NASCAR

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Section 7.2 – Licensing – Sponsorships and Endorsements

Section 7.2 – Licensing – Sponsorships and Endorsements

SponsorshipsSports events generate income from broadcast rights, ticket sales, merchandising, and sponsorshipsSponsorships are the promotional vehicles that financially support sports eventsAll major sports organizations use sponsorships to help finance their operationsPromotional 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 Ex. NFL and Nike

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Section 7.2 – Licensing – Sponsorships and Endorsements

Importance of SponsorshipsSports organizations need the money generated from corporate sponsors to help pay their significant costs and expensesSponsorship 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 eventSponsorship can be seen in promotional activities

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Section 7.2 – Licensing – Sponsorships and Endorsements

Types of SponsorshipCan 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

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Section 7.2 – Licensing – Sponsorships and Endorsements

Types of SponsorshipSignage

Sponsor names that appear on scoreboards, floorboards, rafters, etc. in a stadium or arenaPurchased by sponsors, provides direct advertising for sponsors without paying for airtime

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Section 7.2 – Licensing – Sponsorships and Endorsements

Premium SponsorsCompanies pay more to be the official or title sponsorReceives more options and opportunitiesExamples:– 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

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Section 7.2 – Licensing – Sponsorships and Endorsements

Premium SponsorsExamples – 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

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Section 7.2 – Licensing – Sponsorships and Endorsements

Premium SponsorsExamples – 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 24

Section 7.2 – Licensing – Sponsorships and Endorsements

Endorsements -2014 Top Endorsers A statement of approval of a product, service, or idea made by an individual or organization speaking on behalf of the advertiserInvolves using a celebrity or public figure to represent and promote a company and that company’s productsSports figures image is used in print, broadcast media, product packaging, billboards, and collectiblesMay require a set number of public appearances at various events sponsored by the companySports figure lends familiarity and credibility to the product

Section 7.2 – Licensing – Sponsorships and Endorsements

EndorsementsAssociation– 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 usedDemographic Match– Company choose sports figure who matches the demographic profile of

its customer baseSuccessful 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

Section 7.2 – Licensing – Sponsorships and Endorsements

Endorsements – cont.Image

Products sell when the endorser has a positive image and is popularSports celebrities who endorse products of major companies must be role models in the public eyeMost 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 performanceCompanies do not want its products associated with a person who is not seen as a positive role model

Companies associate their products will well-known sports organizations to reach new customers and strengthen their relationship with their existing customersThrough licensing, sponsorships, or endorsements, companies can generate positive publicity and achieve their marketing goals of increasing brand awareness and sales.

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Section 7.2 – Licensing – Sports Appeal