Branding & Licensing

Hmmmm?????? Has anyone seen a Farrelly Brothers or Quentin Tarantino film in the past? Why did you choose to see that particular movie? Did you have an idea of what the movie film would be like? With the rise in popularity of “retro” or “throwback” sports jerseys and apparel, overall sales of merchandise are booming. What might deter anyone in our class from opening up a shop and selling these vintage clothes themselves? When you see a favorite celebrity (entertainer or athlete) in an advertisement for a particular product, do you remember the product name (brand)? Why do you think that is? Discuss…

What exactly is “Branding”? Click image for video

By definition…….. Many different definitions but the most effective is: A brand is a name or symbol that is commonly known to identify a company or it’s products and separate them from the competition. Well known brand is one everyone knows / recognizes Even if they do not know about the company or its product(s) Can be name of business / product Overall “brand” can stretch to Logo Symbol Trademark A device that legally I.D.s ownership of a registered brand or trade name Graphics

How long has Branding existed for? Click image for video

Guideline for a successful brand Positive, distinctive and generates positive feelings and association Easy to remember AND pronounce Logo is easily recognizable Legally and ethically permissable

How to build your “brand” Awareness Maximizing recognition Image Consumer perceptions linked to your brand (health, excitement, etc.) Equity Value placed on a brand by consumers Nike Loyalty Preference of your brand over another similar Nike, Adidas, Under Armour

Brand identity Create a product that is – Distinctive Exclusive The world has enough sporting events Without differentiation you are lost Give people a reason to get involved

Objective and target What do you want the sport/event to achieve? Who do you want to appeal to most? Once you know the objectives and the target – then you build the brand identity The brand is a representation of the overall objective focused towards the target audience

Event branding opportunities Naming rights Promotions and co-promotions Sponsorship opportunities and presenting rights Merchandising opportunities Hospitality

Go beyond the physical event to create value Passion Speed Power Grace Money

Sell the emotional experience Wimbledon represents refinement Strawberries and cream, anyone? The Olympic Games “celebrate humanity”

Build distinctions Create traditions

Show commitment “off the field” Create community based events Parades Charity events Pro/am’s

Emotional branding leads to emotional bonding “Only when a product or service kindles an emotional dialogue with the consumer, can this product or service qualify to be a brand” Emotional branding, Gobe

Forms of branding Corporate Brand Represents an entire COMPANY or organization Pepsi-Cola McDonalds Frito-Lay Product Brand Represents a particular product of a company or organization Diet Pepsi Chicken McNuggets Fritos Store Brands

Levels of Brand Recognition Non-recognition Consumers are unable to identify the brand Rejection Consumers will not purchase the product because of the brand Recognition Consumers can recall the brand name, but it has little influence on purchases Preference Consumers view the brand as valuable and will choose it if it is available Insistence Consumers value the brand to the extent that they reject other brands

Branding in Sports & Entertainment Differentiating themselves from one another Unique differention (favorite celebrity / team loyalty) Brand extension Use of successful brand name to launch new product P. Diddy & Eminem launching clothing lines Michael Jordan cologne David Beckham – cologne, movie name (Bend it Like Beckham), adidas apparel Others?

Benefits of having a strong brand Loyalty Competitive advantage Price premiums Reduce risk and attract and retain talented staff

Top brands of 2014 Apple - $145.3 bil. Microsoft - $69.3 bil. Google - $65.6 bil. Coca-Cola - $56 bil. IBM - $49.8 bil. McDonalds - $39.5 bil.

And now a word from our sponsor Sponsors are an extension of your communication program They do not own your brand But, let them borrow it Sponsors can add value Make them your branding partner

Summary Your main focus is on developing and delivering a sport/event However…….. the way to maximize your value is to build a brand