sport marketing ch 7
TRANSCRIPT
Sport MarketingChapter 7 BUSI 252Professor Conrad
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This Week’s Blog Post
▪ Read the blog post Paving The Way To Improve Brand Experiences: Sense & Sensibility! by Evan Brown here --https://www.designmantic.com/blog/sense-and-sensibility-in-branding/
▪ Briefly summarize how each of the five senses can affect the experience a customer has with a brand.
▪ To conclude your post, provide recommendations of sensory branding WVWC could add to create and enhance a positive association with one of our sport teams.
▪ Be sure to link to Mr. Brown's post to give him credit for his work.
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Managing Sport Brands
▪ Reminder of Brand Definition w/examples▪ What is Branding?▪ Brand Equity▪ Brand Awareness▪ Brand Image▪ Brand Association
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What is a Brand?A brand is a customer experience represented by a collection of images and ideas; often, it refers to a symbol such as a name, logo, slogan, and design scheme.brand. American Marketing Association Dictionary. Retrieved March 04, 2017, from AMA.org website: http://www.ama.org/resources/Pages/Dictionary.aspx?dLetter=B
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What is the Branding?
Sport Organizati
on
Name
Logo
Symbols
Associations
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Branding
▪ Use of brand elements to create differentiation▪ Half of NBA, NFL, NHL and MBA have modified
uniforms and logos since 1995▪ Name, logo, marks and colors = starting point
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Customer emotions
NamesSymbolsLogosColors
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Branding
▪ How the brand engages consumers▪ How the brand comes to life to form emotional
connections▪ Branding goal –Create a strong impression in consumers’ mind –So they experience intense positive emotions–When exposed to name, logo, colors, etc.
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What is Brand Equity? American Marketing Assoc.
▪ The value of a brand. ▪ From a consumer perspective, based on –consumer attitudes about positive brand
attributes and –favorable consequences of brand use
brand equity. American Marketing Association Dictionary. Retrieved March 04, 2017, from AMA.org website: http://www.ama.org/resources/Pages/Dictionary.aspx?dLetter=B
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What is Brand Equity? Business Dictionary
▪ A brand's power ▪ Derived from the goodwill and name recognition
that it has earned over time, ▪ Which translates into higher sales volume and higher profit margins against competing brands.
brand equity. BusinessDictionary.com. Retrieved March 04, 2017, from BusinessDictionary.com website: http://www.businessdictionary.com/definition/brand-equity.html
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Importance of Brand Equity
Fan Team
Brand
Asset
Strong positive emotional connection
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Benefits of Brand Equity
▪ High brand equity = increased loyalty– Increased revenue in ticket and merchandise sales–Factors other than winning predict brand loyalty▪ Long-term strategy = less $$ loss when team
loses▪ Creates a Specialized product = can charge
premium prices▪ Corporate sponsorships– Increase interest of corporations– Increase price of sponsorship packaging▪ Launch augmented products to enhance
revenue streams
14Greenberg, J. (2015, April). MLB Fan Cost Index 2015. Retrieved March 4, 2017, from Team Marketing Report: Fact Book: https://www.teammarketing.com/tmr/81
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How to Develop Brand Equity
Awareness
Image
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Brand Awareness
▪ First step in brand equity▪ The ability of a
consumer to name the brand’s existence when its product category is mentioned▪ Important for obtaining
sponsorships
Computer Automobile
Sports Drink Shoes
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Brand Image
▪ Cumulative influence of all the associations with a particular brand▪ Goal = develop brand associations that
are–Unique–Strong –Favorable
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Brand Associations
Success Tradition
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“One of the reasons a lot of people love college football is because of the tradition, and this is one of them” (Peloquin, 2012).
Peloquin, S. (2012, October 4). West Virginia Fans Sing "Take Me Home Country Roads" - Video. Retrieved March 7, 2017, from ESPN Sport Radio: http://espn1420.com/west-virginia-fans-sing-take-me-home-country-roads-video/
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Brand Associations Based on the Team
▪ Marketing, promotion and publicity efforts▪ Logo, marks, nickname, mascot, etc.▪ Owners▪ Players▪ Head coaches▪ Rivalries▪ Entertainment package▪ Facility (i.e. stadium, arena, colosseum, etc.)
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Brand Associations Based on Benefits
▪When consumer needs are satisfied▪ Nostalgia, memories▪ Social benefits (i.e. time with family/friends)▪ Team affiliation for fans (Red Sox Nation)
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http://www.sportslogos.net/
1. Select a team2. How many times
has their logo changed?
3. How do you think the logo may have affected the brand image?
4. How have the names and logos of the Washington Redskins, the Cleveland Indians, and the University of North Dakota affected their brands? Explain your reasoning.