Sport & Leisure Industry - Session 5 - Brands: What & Why

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Information about Sport & Leisure Industry - Session 5 - Brands: What & Why

Published on March 5, 2014

Author: mjb87


THE SPORT & LEISURE INDUSTRY week five: brands

THE UNIT SO FAR a recap… • industry overview • the four p‟s: the cornerstones of marketing • contagious promotions: word of mouth • relationships: the new transactions • brands

FROM LAST WEEK prosumers… From last weeks relationship marketing session… If consumers consume products and services what are prosumers and how do they engage with products/services?

TODAY we will address… This week… Brands - what and why 1 – What is a brand? 2 – Why are they important? Next week… Building brands - how

BRANDS your thoughts… Over to you for some initial thoughts… What is a brand?

BRANDS what are they… A brand is… “a name, a word, a symbol, a drawing, or a combination of these.” Kotleret al(2000, p.478)

BRANDS what are they… Is that all though? Just a few images and words?

BRANDS what are they… T A N G I B L E S I N TA N G I B L E S mission statement logo promotions font shopfront uniforms colours dialouge identity matching symbolism beliefs origins story staff manner …so these tangible and intangible aspects of the brand add up to create feelings and beliefs in people about an organisation. It is a marketers job to ensure that the feelings and beliefs are positive so as to ensure the organsiation and it‟s products/services are more desirable.

BRANDS what are they… …so as well as being… “a name, a word, a symbol, a drawing, or a combination of these” a brand is also… “a set of mental associations, held by the consumer, which add to the perceived value of a product or service” Keller (1998)

BRANDS what are they… • The brand is a fully controllable form of communication that allows an organisation to portray themselves the way they wish to be seen. • The brand is everything the organisation does and the organsiation is the brand. • They can portray an image of themselves to both potential and current customers about who they are, what they do, how they do it and why they do it. •Organisations hope to control the way they are perceived through their branding.

BRANDS what are they… • The opportunities to portray an image of your organisation and in everything the organisation does. • Everything matters. • From the logo of your organisation, the way your staff answer the phone, right through to the font you use on your letter head and the uniforms your staff wear. • As an example, this is the level of detail we are talking about in creating an image to portray your organisation to current and potential customers and the number of opportunities there are to do so… Shirt Font Youtube Video

BRANDS what are they… Controlling the perception of an organisation is complex and involves controlling the brand and the image being portrayed at every customer contact point. customer contact points by phone promotions in person competitions by email social media Each type of customer contact point offers multiple opportunities to portray the image of your organisation in the manner you wish it to be seen.

BRANDS what are they… The opportunities to portray your organisation a certain way and the way in which you do so are contextual and dependant upon the way you want to be perceived. As a quick, easy example… Would you expect to be greeted the same way in these two stores? Why?

BRANDS what are they… We have two issues in the Sport & Leisure industry when branding an organisation… Branding is Conditional • You can portray your organisation in a certain way but delivering upon that image is CONDITIONAL on other factors within the organisation. • e.g. You have built your brand around a reputation for quality, built to last products, but the manudacturers produce a poor batch of your latest product and your brand loses credibility as a result. Intangible products/services • Often the products/services we offer in the S & L industry are intangible – they are without physical presence and are unable to be touched. So we have limited control over their exact nature and they have the abaility to perform „off brand‟. • e.g. live sporting events being affected by the weather or a participant in a coaching session diminishing the service for others by their behavior services.

BRANDS what are they… Who has a brand? • Traditionally manufacturers and distributers of products were the only ones concerned by their brand. • Now every organisation, whether they like it or not, has a brand. People will be viewing the way they go about their business and making assumptions about their organisation. • If they aren't conscious to this and trying to mould the way people portray them then they are potentially missing out on adding value to their products/services. • Are people/do people have brands?

BRANDS what are they… Who has a brand? • Are people/do people have brands? • David Beckham / Brand Beckham – not an accident. • You and I? • Yes, personal branding has entered the public lexicon in the last decade. We portray ourselves in a certain way and our behavior/appearance/work is interpreted by others. So we brand ourselves as professional/quirky/bohemian/cool. • As with an organisation we can manipulate the image of ourselves we present to the world around us.

BRANDS why… So that’s WHAT brands are. But WHY are they important? WHY is all this branding necessary? • Brands and branding are tools for value creation. • The goal for a brand is to ensure consumers want to engage with their products/services more regularly and, potentially, at a higher costs than their competitors simply because it has come from their brand. • If your product is perceived to be more valuable simply because it has been produced/distributed through/by your brand, you’ve been successful in adding value through your branding. APPROPRIATE BRANDING ADDS VALUE

BRANDS brand equity… • We term how much value your brand adds or subtracts to the perceived value of your product/service ‘brand equity’. • The value added to your product/service by your brand is positive brand equity. • The opposite, that obviously you want to avoid, is negative brand equity which results from a brands association with a product/service lowering its perceived value to its potential consumers. • Let’s look at an example…

BRANDS brand equity… unbranded nike

BRANDS perceived value to the consumer brand equity… unbranded nike unfashionable brand

BRANDS brand equity… Four components play a role in creating equity for a brand… 1. Perceived Quality 2. Brand Awareness 3. Brand Associations 4. Brand Loyalty

BRANDS brand equity… the four components of brand equity… perceived quality… brand associations… Refers to consumers evaluation of a brand when considering the purpose of the product as well as alternative options. The feelings and thoughts consumers hold for a brand. brand awareness… brand loyalty… Consumers ability to recall a brand when a competitor is mentioned. Brands ability to attract consumers and to keep them indicates how connected consumers are to a brand.

BRANDS a recap… Two tasks to finish… • In circa 50 words communicate WHAT a brand is. • In circa 50 words communicate WHY brands are necessary. • Try to be as concise as possible whilst mentioning as many of the key terms from the session as possible within your text. • By summarising the 2 hour session into 2 lines it will, when flicking through your notes, give you a quick reference as to what we addressed in the session.

BRANDS key terms & phrases… - Brand/branding - Indentify/Differentiate - Tangible/Intangible -Add value - Portray - Brand equity - Consumer/customer - Positive equity/negative equity - Communicate - Brand quality - Organisation - Brand awareness - Perceive - Brand association - Customer contact points - Brand loyalty - Conditional

TODAY we have addressed… 1 – WHAT is a brand? 2 – WHY are they important? Next week… building brands - HOW

BRANDS references… references

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