I recently read a very interesting article on prdaily.com titled Brands winning big at London Olympics. It discussed social media and sponsorships during the Olympics this summer. Sponsorships are a big businesses, that bring in a lot of money.
Although, these are being threatened due to social media. Each company has their own set of sponsorship rights protections in addition to a "brand exclusion zone" which extend for kilometers around venders preventing brands that aren't sponsors from displaying any ads or logos.
Online restrictions make things even more complicated by punishing fans for uploading pictures or videos onto public sites. Athletes may not comment on any competitors performance using twitter, facebook, or other social media. Also, they cannot promote any brand, product, or service, unless they are a sponsor.
The halo effect is said to have a positive effect on brands during the olympics. Many brands will get more business and attention to their brands. Consumers recognize brands from the olympics and USA team and will purchase them because the fact that they support them. So it makes them more favorable over similar products.
In addition to sponsor- event fit brand equity is one of the most important factors when measuring long term financial success of brand sponsors. Brand equity is the value a brand has over a generic competitor. Companies create this by making their brands memorable, recognizable.
Olympic sponsors should continue to be protected by the same laws. If they weren't it could jeopardize a companies success. Sponsors work very hard to support the Olympics and deserve the respect the earn for doing so.
No comments:
Post a Comment