THEORETICAL FOUNDATIONS OF BRANDING AS A COMPONENT OF SPORTS MARKETING
DOI:
https://doi.org/10.32782/spectrum/2024-2-1Keywords:
branding, spor ts marketing, brand equity, brand awarenessAbstract
Branding, as a component of sports marketing, is a complex and multifaceted concept based on a solid theoretical foundation. It covers such concepts as brand equity, brand awareness, brand loyalty, brand associations, etc. By studying these key components, a deeper understanding of the complex dynamics of sports branding is gained, allowing people to appreciate the importance of each element in creating and maintaining a strong, influential sports brand. The objective is to outline the basics of the conceptual and categorical apparatus in the field of sports marketing and branding to create a theoretical basis for further research. The methodology consists of the following: analysis, synthesis, generalization, comparison, and contrast. Results. The article delves into the theoretical foundations of branding as an important component of sports marketing. The paper explores such concepts as sports marketing, sports goods, brands, branding, brand equity, brand management, brand awareness and brand associations. Based on the analysis of scientific papers and Internet sources, a dual approach to the definition of sports marketing is identified, which contributed to the characterization of the cross-categorical concept of “sports product” and a visual representation of its structure. The study compares the concepts of “brand” and “branding,” examines in detail the concept of “brand equity” and its relationship with brand loyalty, name recognition, perceived quality and brand associations. By defining and structuring the conceptual and categorical apparatus relevant to this study, this research lays the foundation for understanding the multifaceted nature of branding as a component of sports marketing and creates the basis for developing effective branding strategies. Conclusion. The research conducted has facilitated a comprehensive and in-depth understanding of sports marketing, including a detailed analysis of branding as a key component. The relationships and interactions between the examined concepts have been characterized, thus facilitating a more comprehensive understanding of their interplay and influence. The established terminology provides a foundation for a more profound comprehension of the intricate structure of branding in sports and of fers a comprehensive framework for fur ther research in this field.
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