Unit 4 Flashcards
What does it mean by image of a brand/product
a mental picture or concept of something or someone
The public image of a celebrity which can make the difference between success and failure
Plays a crucial role in shaping consumer preferences, loyalty, and purchasing decisions
how to build an image for an athlete or celebrity
personal brand, behaviour, and public persona
how to build an image for teams and organizations
team culture, the organization’s values, and achievements
how to build an image for events
atmosphere, experience, level of prestige, sponsorships, good PR
whats the power of image
influence on fan loyalty: fans support teams athletes, or entertainers based on their image
building emotional connections - how a positive image can foster emotional engagement, loyalty, and a sense of community
celebrity endorsements - the role of a celebrity image in advertising and partnerships
Why is Image > merchandising opportunity
celebrity or company that is in the public eye has an increased opportunity to make a profit from merchandising
what is merchandising
the process of promoting, selling, and distributing products related to a brand, team, or entertainer
what is the impact of technology in brand image
e commerce, social media, and streaming services change how image and merchandise are marketed and sold
challenges of managing image + merchandising:
negative events or scandals can damage image and impact merchandise sales, the risk of saturating the market with too many products or events tied to the brand
what is an endorsement?
Any type of support/advertising given by a person who reflects his or her own opinions, beliefs, findings, and experiences that are separate from those associated with the product’s company.
what does a person have to do in an endorsement?
The endorser has to be a legitimate user of the product/service and he/she would have to be allowed to provide his opinion about the product/service without being told what to say by the organization.
what are controversies around endorsements?
Celebrities must use the product they endorse
The political opinions of celebrities may have an adverse effect on the endorsement
The controversies of a celebrity may have an adverse effect on the way the public views the endorsed product
Companies do not want the image of their product damaged
whats a sponsorship?
Sponsorship occurs when a company supports an event, activity, or organization by providing money or other resources.
what do companies get in exchange for sponsoring an event?
return on investment; companies can advertise their products at the event too
need for sponsorships
several costs are associated with an event and ticket sales alone may not recover costs
why sponsorships
the amount of profit that is given back to the sponsor for the sponsor’s initital investment for the sponsorship - return on investment
sponsorship risks
mismatch of values, negative publicity
what is PR
public relations - the practice of managing communication between an organization and its public to maintain a positive image and build strong relationships
role of PR
enhancing brand image, managing crisis, building fan engagement, promoting events/products
key PR strategies
Press releases: announcements for events, achievements, or collaborations
Media relations - building relationships with journalists to get coverage
Crisis management - handling controversies
Social media campaigns - engaging directly with the audience
Community involvement - charity events or partnerships to boost goodwill
Sponsorships and partnerships - leveraging associations to improve brand perception
PR specific to NCAA athletes and sports
NIL - refers to college athletes to profit from their personal brand and endorsements
Activities include - paid social media posts, sponsorships from local businesses, paid speeches, autograph signings, product endorsements
