Sports Marketing: Branding

1. Sports Marketing: Branding

2. Brand • – The combined impressions and experiences associated with the companies goods or services • Ex: Nike Swoosh

3. Brand Name • – Word or words, letter or numbers representing a brand that can be spoken. • Example: Gatorade, Los Angeles Lakers. • You can’t speak the swoosh!

4. Registered Brand Name: • Companies who want to have exclusive rights to their brand name will register those names with the US Patent and Trademark office in Arlington, Virginia. • When a brand name is registered, it also becomes trademarked.

5. Trademark • – A device that legally identifies ownership of a registered brand or trade name. This only applies to America

6. Why is Branding Important? • 1. Branding builds customer loyalty. Customers come to expect the same quality from the brands they buy or the teams that they watch. Once satisfied, they become repeat customers. • 2. Branding helps companies introduce new products. • Ex: Coke Zero, Ranch Doritos • 3. Branding creates an image for the product • Ex: Polo, Abercrombie, Nike

7. Brand Personality • –brand values and emotional connections with the consumer • Ex: Yankees – Winning Brand Personality • Air Jordans – Cool, Hip Brand Personality

8. Brand Equity • – the value a brand has beyond its actual functional benefits. • Consumers are willing to pay a higher price for product with brand equity. • Ex: Mercedes, Lexus

9. 3 Steps towards Brand Equity • 1. Develop the brand in the customer’s mind as part of a class of products. • Example: Gatorade is a sports drink. • 2. Link the product’s brand name to its function and make some type of emotional connection with the product. • Example: Gatorade helps athletes to perform better in athletic events. • 3. Help consumers think and feel the way you want them to regarding your product. • Example: Gatorade is the best product of choice for successful athletes. 

10. Hierarchy of Consumer Brand Purchases: • Brand Recognition – Consumer are aware of a brand know something about it. • Brand Preference – Consumers would rather have a particular brand but will buy something else it if is not available • Brand Loyalty – consumers are willing to pass up other brand for the one they want most. • Brand Insistence – Consumers absolutely, positively want one brand and that brand only.