How to Develop Effective Naming Rights Strategies - Essay Example

The paper discusses firms that are promoting products that are environmentally friendly and promote health. I would then explain to the respective co-operates firm the advantages of investing in our project to build a new stadium. In addition to the core benefits, media exposure, signage, and customer respect there are other benefits as well. In Greene’s opinion naming rights play two important roles: ’First, in supporting larger finance packages with other revenue streams and second, as a single source of finance’. (SportsBusinesGroup2001 9)

Our Mission statement is to boost sport-oriented activities.  Sports not only encourage healthy bodies but healthy minds as well. The creation of a sportsman spirit encourages healthy competition. Negative feelings like jealousy and sorrow would be eliminated from society.

To ensure that the stakeholder brand maintains our image, we shall audit the brand owner’s strategies. "Branding is a way of articulating the core values of the corporation," says Riley.

(< http://www.fastcompany.com/magazine/85/brand.html>)

This would enable us to check whether the cooperation’s policy meets the customer’s requirements. Thereby affecting our reputation, for a sound corporate reputation allows an organization to achieve its business objectives better. (<http://findarticles.com/p/articles/mi_m4422/is_3_16/ai_54116091>)

 The site selected for the building of the stadium forecasts quick revenue returns. The stadium’s location is near a waterfront which would attract tourists as well. A diversification of the crowd would be the result. We won’t just have sports lovers as an audience but sightseers, and people residing near the residential and commercial blocks to be built on the present indoor facility as well.  We also have an excellent seating arrangement for 34,000 people. Therefore, product promotion would occur at a larger rate. However, it’s important to realize that the sponsor-audience relationship is not restricted to the advertisement it has deeper roots. Catching the customer’s eyes and gaining his trust is the name of the game. Therefore becoming a stakeholder brand is not just gaining the right to name a stadium it has a lot of responsibility. It’s not just a publicity stunt. As sources emphasize-“Positioning is hard work. It is not the domain of an ad agency or a marketing department. It is aligning the corporate mission and structure to one that best supports customers, connects with them, and creates customer evangelists.”

(<http://brand.blogs.com/mantra/stakeholdercentric/index.html>).

Our project is extremely lucrative in many prospects. The stadium would be having a retractable roof – viola publicity in all seasons, and no postponed matches either. The generation of employment opportunities with the inauguration of the stadium would earn the public’s favor. Also, the stadium is to be located on a famous site-The site Al Lang Stadium. The very news of a stadium being opened at the long-time major league spring training field would attract thousands and a real opportunity to promote the stakeholder brand’s products.’ The event industry seems to offer more opportunities for brand metrics than other channels since there is so much possibility for personal engagement and captive observation. This may suggest that people-to-people communication is the richest type of brand impression’. (<http://www.evancarmichael.com/Branding/71/2005-Global-Brand-Letter.html>) Our team the Tampa Bay Rays, previously played 10 indoor seasons at Tropicana Field, are no ciphers. Their fans are sure to come to see them play from far and wide. Tropicana Field would soon be converted into a retail and residential district. This would provide the prospective sponsors with a market for their products. The residential area would provide prospective buyers of the sponsor brand companies’ products.

I am confident if renowned firms like the ones I have selected would sponsor our project we would win the majority votes in the upcoming elections at St Petersburg, in 2008. And the Florida Legislature would show no reluctance in providing funds when it will see such big names like Nike, Reebok, and Uni Lever backing this project of ours. We are confident that the whole community would like to benefit from the healthy sports activities that would be the hub of our stadium promoting sportsman’s spirit and healthy competition in community members as well, taking the nation to the zenith of popularity and fame.