Market performance of Brand Jordan - Essay Example

? Case Study – Jordan Brand Key brand attributes of Brand Jordan To build a truly great personal brand means to identify its key characteristics, refine those into attributes, and select the leading attribute that is capable of leading the brand. The characteristics are the general qualities that are not capable of creating any direct benefit on the product. On the contrary, the attributes refer to the distilled and combined perception of the general characteristics which are capable of benefiting and valuing the brand. Evidently, the five key attributes to Jordan could be listed as great athlete, ultra-competitive champion, well-known African-American, Handsome guy, and fascinating spokesman (‘Case Study’). The leading attribute will be the one that creates a perceptual label within a person’s mind and drags his attentions on encountering the particular personal brand. The leading attribute behind the Brand Jordan was ‘the greatest basketball player of all time’. 2. Team Jordan candidates and the brand attributes One of the candidates suggested for the Brand Jordan with so much popularity was the eminent soccer player David Beckham. He started his career from becoming a winning soccer player at the age of 14 and later was known for his youth empowerment and training programs. Brand Jordan considered Beckham to sustain the reputation of the brand as his career portrayed numerous achievements, like having a free-kick technique named after him, which could drag the attention of customers. Besides he has been at his best with the Manchester United. Signing with Beckham would be a good start for entering the world of soccer. However, he was in his mid thirties and would be approaching the end of his career soon. Jamie Foxx was at his all time high popularity in 2006. He was an American Academy Award winning actor and a Grammy Award nominated singer and comedian. His noticeable personal attributes were attractive, athletic African-American, and good fit for the lifestyle products. However, Larry Miller, president of Brand Jordan had a second thought whether signing Foxx in a low-profile endorsement would be profitable or would detract from the brand. Another candidate for the team was a professional golfer from Hawaii, Michelle Wie, a 6-feet woman successfully driving back majority of professional women golfers. Wie had a seemingly limitless potential while commonly comparing with the Tiger Woods and Sorenstam. Wie has been eminent in her career and was an incredible athlete, but that was not all enough to decide that whether golf was the right starting point for the Brand Jordan to reach out to women. Chinese market was an important factor for the expansion of the Brand Jordan, and a best way to promote the brand over the China market was signing Liu Xiang, a 22 years old Chinese athlete who was best known for winning the 110 meters hurdles at his first IAAF Grand Prix in Lausanne. His popularity was further increased when he tied the world record of 12.91 seconds of Colin Jackson, a first time achievement of a non-African descent. Another advantage was that this endorsement would diminish the value of rival Reebok’s market. Though the Xiang has been considered the superstar in his home country in whose market the brand had a bright future, which was not all enough to get into a contract with the athlete. A big concern on selecting Xiang was about the Chinese government’s endorsement with him on a cigarette brand. 3. Importance of celebrity endorsement Obviously, celebrity endorsements have been identified and accepted by the firms as it has direct results that influences the brand the company is trying to send through a person in a way that the customers experience a sense of similarity with the brand. Brand Jordan felt that the celebrity endorsement would be an important factor as the consumers tend more to conceive information from a celebrity whom they know than a person they do not. Besides, the celebrity has the ability to transfer their eminent and popular image to the particular brand that is being advertised. Brand Jordan has taken this benefit into consideration and uses it as an advertising technique to increase the brand exposure, interest, and attention for the brand. 4. Opportunities and risk of international expansion Opportunities The Brand Jordan covered a wide reputation outside the United States, which is an added opportunity for the growth of the brand internationally. And the brand is planning to be expanded by concentrating more on Europe and Asia in the near future as a plan to increase the popularity. Michael Jordan was one of the most recognized and revered Americans to the people of China, and his commercial for Air Jordan gained a wide popularity in China. This successful image of Jordan is still apparent in the country and the company can make advantage of it even now. The Brand Jordan had a sterling brand name and reputation around the globe, which the company intended to translate into solid sales. Risks The international expansion of Brand Jordan also involves many risks different from what they experienced in the US markets. The foreign customers may have different attitudes toward their obligation and commitment to the brand. So the company cannot make sure whether customer will always be loyal to the brand. The brand also faces the risk related to trade negotiation including embargoes and conflicts. One of the most important problems that Brand Jordan faces is to get rooted in a new region where competitors have already made their brands successful. As any other business undertaking would face, Brand Jordan also confronts with the financial risk of exchange rates and monetary values. Political situations existing in various parts of the world drags the international growth of the Brand Jordan. 5. Ensuring the viability of business Even when Michael Jordan had his final game on April 16, 2003 in Philadelphia, his legacy will live on forever. His memory will continue to set a pace for the brand around the world. The brand can be still successful in the name Jordan, even years after his retirement from the game. The only thing what is needed is the adequate marketing strategies formulated by the company. The firm can make sure of the viability of the business even now with the brand focused on a retired star. Clifford Tong, a director of the Marketing Director of Brand Jordan had downsized this critical situation and explained it as, “Of course Michael isn’t on the court inspiring us with new achievements, but if you take a look at Jordan’s career accomplishments in totality, there’s a reason why he’s the most respected, sought after, inspiring sports athlete of the 20th century” (‘Case Study’). One of the suitable suggestions would be to make multiple endorsements with a celebrity who would have similar attributes of Jordan together with him to promote the brand. In the same way, the potential customers would not be expecting the Brand Jordan without Jordan. 6. The right candidate From the four athletes I choose David Beckham to fit the key attributes of Brand Jordan. This candidate of Team Jordan offered the most attractive mix of ability and promise for future growth in his respective profession. He had proved his talent as a successful soccer player at the age of 14, and has been playing for Manchester United, a world famous club whose players and playing techniques enthralled almost all of the soccer lovers. The prominent place of Beckham among the world famous soccer players ensures that he can sustain the current popularity of the brand among current customers as well as can extend it to the new market among the soccer lovers. An example for his popularity in the soccer world is the free-kick technique that is named after him. Besides, Beckham himself was a fan of Jordan and had worn the number 23 in homage to Jordan, which created a likeness for him in the basketball world too. To recommend an athlete from outside the list, I chose Ray Allen, one of the best shooters ever and a gold medalist in Sydney in 2000. He is a nine times All-Star and Sportsmanship Award winner who has received the respect of his teammates, opponents and fans alike. Ray could be recommended on considering his popularity in the same field where Jordan had achieved his place. Ray contributed his selfless role in the Boston’s 2008 championship, and it is evidence to his all-liked character, which can be translated into solid sale for the brand. Besides, he also has an image of a generous person as he contributes to charities and other numerous communities. Works Cited Case - Brand Jordan: Selling a Legend. Read More

 

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