Sports Marketing: Branding

Brand

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

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!

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.

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Trademark

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

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

Brand Personality

• –brand values and emotional connections with the consumer

• Ex: Yankees – Winning Brand Personality• Air Jordans – Cool, Hip Brand Personality

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

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.

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.