Branding & Sponsorship Flashcards
Define branding
A brand is a promise
It exists in the mind of the consumer
It consists of a name, logo, symbol and other marks associated with an organisation
Advantages of a brand name:
Attributes
Consistency
Quality and values
Identification
Define brand equity:
Added value that a brand name provides to a product/service/organisation
Define brand management:
The designing and implementing of marketing programmes and activities to build, measure and manage brand equity
Define brand awareness:
Consumers ability to recall a brand when the competitive landscape in which it is in, is mentioned
Define brand loyalty:
A brands ability to attract and keep consumers
Define co-branding:
A form of cooperations between two or more brand with significant customer recognition
For example All Blacks and Adidas
Define sponsorship:
The provision of assistance either financial or in kind to an activity by a commercial organisation for the purpose of achieving commercialised objectives
Main objectives of sponsorship:
Increasing brand awareness - through sport tournaments
Enhancing brand image - e.g. ronaldo and Nike
Raising number of sales - most desirable objective
4 strategies of sponsorship:
Performance Strategy -
brand usually strives for a high quality profile e.g. Adidas and the German national team
Image Strategy -
Most frequently used strategy e.g. Mc Donald’s and the FIFA World Cup
Target Group Strategy -
Reaching a new market, opportunity to get a hard to reach customers
Regional Strategy -
Taking responsibility for you region/area
For example a local brewery and a sports stadium
How sponsoring might work communication process:
“Exposure is one thing, but what really matters is the impact of exposure”
Information -> Media -> People -> Reaction
