- The Reason for the Hornets Rebrand
- Changes Made in the Rebrand Process
- Promotional Strategies for Rollout of New Brand
- Opportunities Presented by the New Strategy
- Application of Brand Management in Unrelated Industries
- Improving Business Performance Through Branding Strategy
- Utilizing Branding Concepts to Enhance Business Performance
- References
The Reason for the Hornets Rebrand
The Charlotte Hornets rebranded in 2014 to strengthen their connection with the local community and create a new identity that resonated with fans. The decision to rebrand was influenced by a desire to differentiate the team from other NBA franchises and develop a sense of pride and ownership among local fans. Additionally, the team’s previous brand, associated with former owner George Shinn, had a negative reputation due to his controversial tenure with the team.
Changes Made in the Rebrand Process
The Charlotte Hornets altered their brand by incorporating local history and culture into the team’s identity, creating a new logo and color scheme, and establishing a more substantial social media presence. The team also conducted extensive research to understand the values and needs of the local community, which informed the development of their new brand strategy.
The team’s new brand was designed to reflect the city’s “resilient, proud, and loyal” identity (Wear et al., 2018). It included a unique logo featuring a hornet with outstretched wings and a color scheme incorporating teal, purple, and gray. The Charlotte Hornets retained their team name when they rebranded, as it was a popular and recognizable name in the city’s basketball history. The team continued playing in the same arena, and the ownership and management remained unchanged.
Promotional Strategies for Rollout of New Brand
The Charlotte Hornets utilized a comprehensive promotional strategy to promote the new brand, including social media campaigns, advertising, community events, and merchandise sales. The team launched a “Buzz City” campaign on social media to generate excitement around the new brand. Also, it held a series of fan events, including a jersey unveiling ceremony and a block party (Wear et al., 2018). The team also partnered with local businesses and organizations to promote the new brand and create a sense of community ownership.
Opportunities Presented by the New Strategy
The Charlotte Hornets’ new brand strategy presented several opportunities for the franchise, including increased fan engagement, merchandise sales, and sponsorships. The team’s unique brand helped to differentiate the group from other NBA franchises and build a solid emotional connection with local fans. The Hornets’ rebranding also helped attract new players to the team, as they were seen as a more attractive destination with a strong brand identity and supportive fan base. This resulted in increased attendance, merchandise sales, sponsorships, and a boost in overall team value.
Application of Brand Management in Unrelated Industries
Other firms in unrelated industries could utilize brand management to increase financial performance by developing a brand that resonates with their target audience and reflects their company’s values and identity. For example, Apple Inc. has built a strong brand identity based on innovation, simplicity, and design, which has helped to differentiate the company from its competitors and build a loyal customer base (Razak et al., 2020). By creating a unique and authentic brand that reflects its values and identity, firms can increase customer loyalty and improve financial performance.
Improving Business Performance Through Branding Strategy
The Hornets improved their business performance by creating a solid emotional connection with the local community through their new brand strategy. The team’s unique brand aligned with the region’s identity and allowed fans to take pride in a team that was “truly Charlotte’s team” (Wear et al., 2018). In addition, this emotional connection increased attendance, merchandise sales, and sponsorships, ultimately improving the team’s financial performance.
Utilizing Branding Concepts to Enhance Business Performance
The Charlotte Hornets utilized various branding concepts to improve their business performance, including researching the local community, creating an authentic brand aligned with their identity, implementing a comprehensive promotional strategy, and leveraging partnerships to generate revenue. These strategies allowed the franchise to create a brand that resonated with the local community and built excitement around the new brand, ultimately leading to improved business performance. The success of the rebranding effort has been evident in increased merchandise sales, sponsorship revenue, and ticket sales.
References
Razak, M., Hidayat, M., Launtu, A., Kusuma Putra, A. H. P. A., & Bahasoan, S. (2020). Antecedents and consequence of brand management: empirical study of Apple’s brand product. Journal of Asia Business Studies, 14(3), 307-322. Web.
Wear, H., Collins, D. R., & Heere, B. (2018). What’s in a name? A case study of NBA basketball in Charlotte. Sport Marketing Quarterly, 27(2), 124-134. Web.