chapter 8 Managing Sport Brands

Objectives To understand and discuss the full scope and importance of brand management and branding in the sport setting To demonstrate an understanding of how brand equity is developed in a variety of sport settings To identify and discuss the sources of brand associations for teams, athletes, agencies, and other sport entities

Branding is a concept that extends far beyond the marketing of “brand name” designer jeans and other products. A company's brand represents their market identity—who they are, what they do, what kind of quality they provide, their reputation for trustworthiness, and more

Market Branding The process that builds positive associations and symbols for a sport organization. The brand name and marks associated with a sport organization serve to provide a point of differentiation from the other sport products that exist in the marketplace. The brand name, logos, marks, and colors of a sport organization serve as a starting point in the brand management process.

Forbes Most valuable brands in US Sports /10/22/the-forbes-fab-40-the-most-valuable- brands-in-sports-2015/#15844c0d2e2a

Most valuable team brands in the world most-valuable-team-brands/

Brand Equity “A set of assets and liabilities linked to a brand, its name and symbol, that add to or subtract from the value provided by a product or service to a firm and/or that firm’s customers”

Benefits of Brand Equity Less drastic revenue declines when the team loses (the brand can survive short run losses) Ability to charge price premiums (KC v NY tickets) More corporate interest (Sponsors want brand recognition/association) Licensing and merchandising opportunities

Developing Brand Equity (capital) The creation of awareness about the brand: the ability of a consumer to name the brand’s existence when its product category is mentioned The creation of a brand image: –The cumulative impact of all the associations with a particular brand –Goal is to develop unique, strong, and favorable brand associations –

Class Exercise – The Beginnings of a Brand Your team has been given 2 tasks: 1.Create the team name for the new MLB team locating in Portland, Oregon. 2.Also, you must team colors to be used in the logo and team uniforms 3.You must have logical reasons for your choices. Mr. Lewis (the team owner) will select the best idea.

Sources of Brand Association With Teams Logo, marks, nickname, and mascot Owner Players Head coaches Rivalries (red river) Entertainment package surrounding the game or event Logo, nickname, and associated extensions Stadium or arena in which a team plays

Associations Formed Based on the Benefits of Consumption Nostalgic (the house that Ruth built) Social (tailgate at the swamp) Identification with a team (Red Sox Nation) Identification with a city (Title Town)

Brand Association Formation for Sponsors One motivation for companies to sponsor sporting events or programs is to either enhance or reinforce the brand associations with their company. (stadium names) The image of a sport entity can help create strong, unique, and favorable associations for the sport brand.

Brand Association Formation for Athletes Since professional athletes can make money from corporate endorsements, having strong, unique, and favorable associations is very important for an athlete. Athletes can create strong positive or negative associations: –On the playing court or field –Off the playing court or field

Raymond Felton 2014 AI

Raymond Felton and Under Armour Strong, unique, and favorable associations?

How do athletes, organizations, sponsors, agencies create brand image? Athletes – play the game and…. Organizations – Pay the players and... Sponsors – Endorse players and… Agencies – Create opportunities and… Images are created.

The NBA Brand

Brand Association Formation for Agencies While visible behind the scenes, agencies are not visible to the sport consumer. Associations are created through –the clients they represent, –people who work for them, and –area of specialization.

Brands and sports in South Africa ak