In the world of sports and entertainment, some coroporations will go great lengths to achieve their marketing goals. For example, a business may spend more than $3 million a year for a naming rights deal (FedEx Field)with a stadium. Read the article below and provide your response and reaction.
http://nashville.bizjournals.com/nashville/stories/2010/02/22/daily9.html
In paragraph # 1, in a minimum of 5 sentences, discuss Bridgestone Tires and how a naming rights deal could benefit their business. In paragraph # 2, in a minimum of 5 sentences, give your thoughts and opinions on naming rights deals in general. Do you feel they are worth the money? Why or why not? Do consumers pay attention? Why or why not? Is it a good marketing idea? Why or why not?
Please sign your name to the bottom of your blog entry.
After reading the article it is clear that Bridgestone has strong connections to the city of Nashville. The company is really marketing themselves thoroughly through the sports world. According to the article they have deals with many major sports organizations which should help put more of a public spotlight on their company. The NHL is a smaller audience than the NFL but Bridgestone must think it is worth the estimated 2.5 million dollars. Having their name on the Nashville Predators stadium could benefit them by having a public place to promote their products.
ReplyDeletePersonally I do not see the benefits of having naming rights to a stadium. It seems like the almost three million dollars could be spent in another side of advertising such as commercials or an advertising campaign inside the stadium itself, where the fans could pay attention to it. I know that when I go to the Verizon Center I am not thinking about Verizon. Once I get inside the building though I notice all the Chipotle, Papa Johns, and Pepco Energy Services ads. If I had the money I would not spend it on a building name.
Bridgestone Tires and their naming rights are a big deal. They get to name their company after a hockey team. Thats really big since hockey is starting to get closer to the stanley cup finals/playoffs. It could benifit their business majorly. Just think if every preadtor fan bought bridgestone tires. They would make some serious $$$$.
ReplyDeleteDo I think naming a staduim or feild or whatever after your company is a good idea,Yes.
Its a great way to advertise your company and products. I think certian customers pay attention. But most are just at that place to watch a sport be played.
Jake.C
Bridgestone tires are a very big company. They are known all over America. Putting their name with the the Nashville Preditors or the NHL will benefit there company because now they are a big name brand in a community. They will help the communities economic situation and Nashville will really stand by them.
ReplyDeleteI do feel like Bridgestone is worth the money. They would be a big help to Nashville and bring in more money then they paid. I think consumers are paying attention because this effects them. It is a good marketing idea because now they have their name attached to a Nashville and it could help both of them.
Nastasja Lewis
Birdgestone tires has a lot of profit off of their sponsorship on sports and entertainement. Usually in the biggest american event the superbowl the half time show is called the Bridgestone half time show featuring "The Who". They also give the new ford truck to the mvp of the game, they provide the tires for the car. Birdestone tires is a company on the rise.
ReplyDelete-Kamran Syed
I think bridgestone tires are worth the money because they sponsor the biggest sunday night in sports in my opinion. I think consumers do pay attention because they should have enough money to put the product name on the superbowl it probably takes a few millions of dollars to do it. Their marketing idea is good, superbowl is a big sport so it should be on the rise.
If the deal with Bridgestone were to go through this week, then it would clearly benefit the company itself. The tire company is already very well known but having their name on a NHL stadium will just make their ratings soar, just that much more. And Bridgestone will benefit from the deal even more if the Predators have a good season this year. The more that the Predators win, the more recognition that the company will get from the National Hockey League and the country.
ReplyDeleteAfter reading this article, I definitely understand naming rights a lot more. I'm kiind of interested about how exactly these arenas get the word out there that they need an arena sponsor. I feel that it would clearly be worth the money because it gets these companies out there and also makes you think about their company when you are thinking about whatever sports teams that they may support. I feel that not everyone really pays attention to the stadium names but I'm sure that many do and that is why all of these big name companies back these teams economically. I think it is a very good marketing idea and that more companies should take advantage of naming, especially if they are a new company, just starting out. It would definitely help branding and help get the company's message out there and make their product more known.
taylor murnane
The two million dollars paid to the nashville predators i believe is well worth it. the amout of advertising bridgestone will recieve from having the stadium renamed. if your a fan of the predators, and you need new tires, there is going to be one brand stuck in your head, and thats bridgstone.
ReplyDeleteBridgestone will continue to grow, and the predators who are having a little bit of economic trouble is going to gain more money. so all over i believe this is a good deal for everyone.
Kevin Jenkins
Naming rights deals for Bridgestone Tires will benefit immensely from the publicity it will receive in regards to naming the NHL team, the Predator's stadium after their company. This is because fans who will come and watch this hockey team will notice the name and may become inquisitive of what that company does and how it can benefit themselves. Therefore, based off of other people's interests it is most likely that they will receive more income and in the long run it will benefit their company tremendously. Also, Bridgestone Company will benefit from having their company as the satdium name because on television they always announce the name of the stadium in which the teams are playing at. This way, that publicizes their company to an even larger group of people which can help spread the popularity of their company nationally.
ReplyDeleteIn my opinion, I feel that based on the strength of your company before it commits to a naming rights deal will truly determine its own individual success. For exsmple, the changing of the name of the NBA team the Wizards stadium from the MCI Center to the Verizon Center. I feel that this was a great move for Verizon because they were very popular before making the deal and will only increase their revenue of their products in the long run. That is why paying 3 million dollars is not a lot to Verizon because they have the money to due so, but for smaller companies spending that type of money is a risk that they may not be willing to take. When I go to games I do notice the company names that are featured throughout but it doesn't really force me to go out and research their company, but it does inform me that their company is out there. But, different people have different reactions and perspectives on whether or not these naming rights deals are very successful. To me, it all depends on the success of the stadium's team, the location and/or city the stadium is and the fan base.
-Courtney Chesley
Its a huge beneifit for bridgestone tires to have a deal with someone. The reason being, they have the benefit of being advertised. With them having their name advertised on something they have a better chance of getting more customers. But, sometimes if u dont make the right deal your ad won't make its exposure like it's suppose too. Sometimes this can be a big waste of money.
ReplyDeleteI think that naming right deals can be a big benefit for a company if they make the right deal, and have their product properly advertised. If not, then the company is spending money and no one is seeing their product, and that's just hurting the company. I believe when the ad is one something important then the customers pay attention. I believe it is the best way to market your product. The reason being is people like to go to events and watch entertainment, so this is why the this type of advertising is good.
Maurice Pheney
If you need to get your tires fixed go to Bridgestone. BridgeStone Tires is a tire company who sells tires for cars if needed. Naming rights deal is when a company puts their name on a stadium, like FedEx Field. If BridgeStone haave a naming rights deal then they will have a lot of costumers going to their company and buy their tires. Then their money will increase while the costumers buy their tires. But if they want to have a naming rights deal then they will have to spend at least 3 million dollars to have their name on a stadium or an arena.
ReplyDeleteNaming right deal is a waste because, people especially me don't pay attention to their company when you walk into a stadium or an arena. The only time I say their company is when I need directions to go to that place. If they want costumers to pay attention or know who their company is,they need to do something during halftime or give out information to the costumers so they will know who you are. If they do that then naming right deals can be a big benefit for a company.
Jerome Mitchell
Bridgestone is very popular around the city of Nashville. The company is making it big with the sports industry. They have a lot of connections with different sports which help promotes their product. Even though the NHL is smaller than the NFL, NHL still promotes Bridgestone of 2.5 million dollars. They took advantage of having their name on the Nashville Predator Stadium to start a business.
ReplyDeleteI don't think it's right to have naming rights on a stadium. I think the 2.5 million dollars they used on the stadium could be used on a commercial or something. I wouldn't notice the Bridgestone symbol on the stadium because I would notice the stuff inside like Taco Bell or Pizza Hut.
Tarikh Cooper
I think that Bridgestone is trying to make a good deal to help support and give a popular name to the stadium. The money being put into the deal must be for good reasoning and the 2 millions dollars being put into the deal will hopefully pay for itself in the end. Being sponsored by a popular sport/arena will help benefit the company by making them more popular as well as helping bring attention to the stadium.
ReplyDeleteI honestly think that the Bridgestone name is popular but won't attract a lot more people than it did previously. I think that the money will eventually be payed off in the end, but the question is if they will make a profit or not. At first, the new name will be payed attention to like any other thing that is new and popular, but after a while i think it'll just be a name of the stadium. I know when I go to stadiums I don't really pay mind to the name or sponsor, especially if it's a tire company. Nashville should have brought in a company that would bring more attention although they did bring more an of audience from sponsoring the Superbowl half time show.
Kaitlynn Miller
Bridgestone Tires is going to put their name on an arena, where sports games are played. People watch sports games for entertainment and are bound to associate the field or arena with the brand. If people watch the game they will talk about the brand in one form or another. Then when those millions od people need to go buy tires, the first place they think of is Bridgestone. Now that they put their name on the stadium, their sales will increase.
ReplyDeleteIt's worth the money for naming rights deals, because it gets your product out there. Nobody could know about your product or service, then one ad or association with a pro sport and everybody knows your name. Consumers do listen because they want to see every aspect of the game and they may not know it but the product name is in their head. Marketing is a good idea; it allows companies to get their name out, and everybody will know it. It’s a good way to allow the consumer become familiar with a company’s service or product.
Bridgestone is a well known tire company. For them to put their name on a stadium will only make there company expand. By putiing there name on the stadium will act as an advertisement for all hockey fans. The company knows that and looks at it as commercializing there products through the hockey industry.
ReplyDeleteIn my opinion i think by naming the stadium after a company is a good thing and can only help there company expand. Not only are people see there name in the arena but your also going to always here the name in there title.
David Lazo
Bridgestone is making an excellent move in the sports industry, making a buisnees deal to have their company name posted in the arena. The NHL is very popular so Bridgestone should get tons of new customers and their buisness sales should increase drastically.
ReplyDeleteI think it is a great marketing deal because even if Bridgestone had no customoers before, they will now. Bridgestone also seems to be very popular in that city. I think they top all the other tire companies around by making this deal. The money is very much so worth it because it will increase buisness sales, so they will get that money back.
Serena Cooper
The marketing strategy used by Bridgestone is very smart. By naming an arena after their company the Bridgestone name will be more familiar with consumers and people. Not only will it just be the name of an arena but it will help increase awareness of the Bridgestone name. There will be more consumers for the Bridgestone tire company.
ReplyDeleteI think Bridgestone made a smart move. Now insead of people saying they will go to the Sommet Center, instead they will say the Bridgstone Arena. Consumers will pay attention to the idea. The name of the tire will be everywhere from the court to the pamphlets. The idea was a smart move that will benefit all of them.