Section 7.1 Branding

Brand Name – word or words, letters, or numbers representing a brand that can be spoken EX: Gatorade, Houston Rockets Branding is the most important part of marketing. Brands create reputation and quality Brand Personality – attaching human traits to a brand name. (Pro athlete endorsements)

Brand Equity – value a brand has beyond its actual functional benefits. THREE STEPS OF ESTABLISHING A BRAND NAME: 1. Develop – create a class of products 2. Link – Emotional connection with product 3. Help – influence customer feelings

Types of Brands & Strategies Manufacturer Brand – owned by the producer of the product Intermediary Brand – developed by a whole- saler, retailer, or catalog. Generic Brand – does not carry a company or brand name.

Developing a Brand Name: Offer a benefit Be Simple Be different and positive Reflect an Image Be previously unregistered Branding must last – Nike swoosh developed for $35. Most recognized brand in the world.

Licensing – agreement that gives a company the right to use another’s brand name, patent, or intellectual property for a royalty or fee. In Sports Marketing a company may pay for use of a league’s, team’s, or player’s name EX: Madden Football, T-Shirts,

Licensed Goods Only licensed goods are legal in the USA Each licensed good will have a licensing authentication Non-Licensed goods are sold, but illegal and carry heavy fines

Sponsorships – promotional vehicles that financially support sports events Licensing rights Stadium Naming rights Product Sampling Billboards Free Tickets Receptions with Athletes

Endorsements – statement of approval of a product, service, or idea made by an individual or organization speaking on behalf of the advertiser. Sports figures often paid more through endorsements than actual playing contract Could require athlete to always be seen with the product. Set a number of promotional appearances.