Sport Marketing ch. 7 - Branding

What is branding through sport?

Creating an identity through name, logo, colors, & communication that represents values, performance, & image

-goes beyond logos, involves feelings, associations, expectations

Why is branding important?

It builds trust, differentiates from competitors, creates emotional connection, & shapes consumer perception

What are the 4 steps of brand building?

brand awareness → brand image → brand equity → brand loyalty

What is brand awareness?

The ability of consumers to recall or recognize a brand when its product category is mentioned

what is the difference between spontaneous & prompted awareness?

spontaneous = recall without help

prompted = recognize when given options

What is brand image?

consumer perceptions, impressions, & beliefs about a brand

-public perception of brand is critical

-built through associations: players, coaches, history, logo, stadium

What is brand equity? (ultimate goal of branding & brand management)

The added value a brand gives to a product or service, making it stronger, more in demand, & financially valuable = high equity

-Brand equity = assets/liabilities tied to brand image & awareness

benefits of brand equity?

revenue stability, ability to charge premium prices (more valuable brand = charge more), more sponsorship interest, & stronger merchandise sales

why do we want strong brand equity?

makes the brand more valuable, recognizable, & trusted in the marketplace

What is brand loyalty?

Consistent consumer preferences for a brand despite competitors, leading to stable revenue & fan communities

-creates brand communities; groups bonded by rituals, traditions, identity (college football fan bases, apple user communities)

What are some examples of sources of brand associations

-Logo/mascot, players, coaches, owners, rivalries, venues, entertainment package, city identity, nostalgic experiences

-used by marketers to grow appreciation/value for a brand

What is a line extension?

New product within the same category

-ex: callaway golf clubs, NBA creating WNBA

What is brand extension?

Expanding into a new product category (Chicago Bears "Bears Fit" Gym, Cowboys "The Star Complex")

-risks: if poorly executed, they can dilute or damage the parent brands image & equity

Why do organizations pursue extensions?

To diversify revenue, target new markets, add products at different price points, or interact with fans outside core events

What does it mean to leverage a brand?

Using brand strength to create new revenue streams, extend reach, & maximize value

What is brand licensing?

When outside companies buy rights to use sport organizations intellectual property (logos, names, mascots, colors) on products

Why is licensing considered low risk?

Because the outside company assumes production & distribution costs while the sport organization earns royalties

What are examples of licensed sport products?

Apparel, hats, trading cards, bobbleheads, video games, merchandise with team logos

How do companies like Nike, Adidas, or Under Armour use licensing

They produce officially licensed team gear & share profits with the sport organizations

Awareness comes before image in brand building TRUE OR FALSE?

True

What is athlete branding?

athletes create their own brand identity & associations that can be monetized through endorsements

How do endorsements work?

Endorsements work when a company partners with an athlete to promote its product.

-for it to be effective, the athletes personal brand associations (how fans perceive them) must align with the product or company

-if an athlete is seen as hardworking, elite, stylish, those same qualities are transferred to the product

-Example: Michael Jordan’s “Air Jordan” brand → his athleticism and success transferred directly to Nike shoes

Who were the top athlete endorsers in 2020?

Tiger Woods (60M), LeBron ($60M), Federer (100M)