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4711_ef4&5_branding net-1 - The Elusive Fan The...

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Unformatted text preview: The Elusive Fan The Chapters 4 & 5 Branding & Brand Management Branding Branding • What’s in a name? – Provides for product recognition – Allow customers to differentiate – Intensifies the fan connection – Allows organizations to generate Allows loyal customers loyal – Organizations take pride in their Organizations products products What is branding? What • “A synthesis of facts and synthesis images that comprise a sports product and is often defined by slogans, themes, positions, symbols, product characteristics and other tangible & intangible factors.” tangible Brand’s Make-up Brand’s • • • • • Brand Brand name Brand marks Logo Brand equity Brand Equity Brand • The value associated with a The brand. brand. • The association of goodwill Most valuable brand? Most Valuable Sports Brands Sports • • • • Sports team brand Athlete brand Sports event brand Sports business brand Advantages of Branding Advantages • Permanence – able to Permanence withstand ups & downs of the business business • Connectivity – provides Connectivity multiple platforms on which fans can connect fans • Premium – difference in Premium attention and & pay 1 sport commands over another commands Branding will be the difference between the successful products and failed products Daytona 500’s Branding of Its 50th of • • • $10 M to promote $3 M to “spruce up” track 1-800-PITSHOP Causes of Poor Fan Attraction Attraction • • • • • The market is unfamiliar Overexposure Underexposure Player / mgmt behavior Weak economy Successful Brands Successful • • • • Segmentation Involvement Ethos Transformation Transformation Segmentation Segmentation • Practice is an old one • Sports industry slow to catch Sports on on – Powerful draw – Exciting athletes – Lack of competition • Importance today? • Implications – More specific, prioritize, More orchestration orchestration Involvement Involvement 1. Becomes aware 2. Occasionally checks for Occasionally results results 3. Attends / views events Attends regularly regularly 4. Follows in all distribution Follows channels channels 5. Life integration Ethos • “The character of the The communicator as understood and believed by the audience” and – Moral character – Intelligence – Goodwill Goodwill • Granted by the audience Transformation Transformation • Sports today – – – More competitive marketplace Entertainment-oriented Fans’ expectations have risen • “The purposeful changing of a The sports industry product into a brand to heighten strengths, reduce weaknesses and address competitive pressures.” competitive Transformation Transformation • 4 choices – No changes – Minor changes – Major changes – Complete overhaul Don’t recommend doing nothing! Transformation Drivers Transformation • Leadership • Crisis – Troubled times • Cultural trend – Women’s interest in NBA • Market drivers – Growing Hispanic community • Media drivers – NASCAR Media Transformation Candidates Transformation • • • • • • Sports Leagues Teams Events Stars Sporting goods Transformation Process Transformation Idea / Concept Generation Screening Business analysis Development Brand Testing Brand Refinement Actualization YMCA Rebranding YMCA • • • • Changing name and logo 43 years Based on 2 years of research Hopefully more inviting Manchester United Manchester ...
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