Branding and Licensing

Provide an example of Brand extension.

Dr. Dre's beats

Identify 5 Event branding opportunities.

Naming, Event Offerings Promotions and Co-Promotions Sponsorship Opportunities Merchandising Opportunities Hospitality

Identify the 6 Characteristics of a successful brand.

Positive, distinctive and generate positive feelings and association Easy to remember and pronounce Logo is easily recognizable Implies the benefits the sports product delivers Consistent with the image of the rest of the product lines, organization, and/or city Legally and ethically permissible

What are the 3 P's of Licensing?

Profit - Determine price points that will establish higher profit margins Promotion - Merchandise does not sell itself Trained sales staff and effective promotion are the keys to higher sales volumes Protection - It is important to copyright or trademark all names, logos, or slogans associated with the product

The products retailers sell as their own brands

Provide 3 examples of store brands. GAP, ATHLETA, AMERICAN EAGLE

What is the most important step for a licensor?

Register property as trademarks Take necessary steps to protect against counterfeiting -

Define product brand.

Represents a particular product of a company or organization

Define corporate brand.

Represents an entire company or organization

Provide 3 examples of product brands.

Rock Band Harry Potter iPod, iPhone, iPad

What are some benefits associated with the development of a strong brand? ( we discussed 3)

Strong brands have the power to create business value and impact more than just corporate revenues and profit margins Strong brands also create competitive advantage, command price premiums and decrease cost of entry into new markets and/or categories Strong brands reduce business risk and attract and retain talented staff

Provide an example of rebranding

The Stars changing their logo, team uniform, and colors

Define store brand.

The products retailers sell as their own brands

Define branding.

The use of a name, design, symbol, or a combination of those elements that a sports organization uses to help differentiate its products from the competition

How does a company build a brand?

Through brand awareness, image, equity and brand loyalty

Provide 3 examples of corporate brands.

Walt Disney Company National Football League Apple

Define trade dress.

A particular type of trademark that protects the distinctiveness of the appearance and image of a good or service such as the NIKE shoe box, RainFOrest Café, or the ESPN Zone restaurants

Where does a licensor register their marks?

At the USTPO United State Trade and Patent Office

Identify 5 Branding mechanisms.

Brand Mark Logo Trademark Graphics Slogan/tagline

Define Licensing.

refers to the process that gives a company the right to use another's brand name, patent, or other intellectual property for a royalty or fee through a written, legal agreement

What are Slogans?

short, memorable catch phrases used in advertising campaigns designed to create product affiliations among consumers

Registered mark

symbol = ® A mark registered in the United states Patent and trademark office

Provide an example of Co-Branding.

the Collegiate Licensing announced a partnership with Barbie for a co-branded, University-themed Barbie doll collection featuring Auburn University, The University of Alabama, University of Arkansas, and Louisiana State University.

Define licensor and list 3 examples of Licensors

the company or individual granting the license ex: NFL, NASCAR, NCAA, UT - Austin

Define licensee and list 3 examples of licensees

the company or individual paying for the rights to use the licensor's name or property EX: EA - Electronic Arts, Reebok, Russell Brand

What is Co-Branding?

the practice of using multiple brand names to jointly promote or market a single product or service

What is brand awareness?

the process of working toward maximizing recognition of a particular brand

Define rebranding.

the updating or creation of a new name, term, symbol, design, or a combination thereof for an established brand with the intention of developing a differentiated (new) position in the mind of stakeholders and competitors

Define brand extension.

the use of a successful brand name to launch a new or modified product or service in a new market

What is brand equity?

the value placed on a brand by consumers

Service Mark symbol

℠ A word name, symbol, or device used to identify and distinguish a company's services, including a unique service, from those of another service provider.

What is brand image?

consumer perceptions linked to a particular brand such as health, excitement, fun or family

What is brand loyalty?

consumer preference for a particular brand as compared to competitor products or services

Branding describes a company's or event's efforts to

develop a personality and make its products or services different from the competition