Team merchandising is critical for ongoing revenue generation. For this assignment, you will select the sports team of your choice and rebrand the team merchandise with the goal of increasing sales. Licensing is of key importance when rebranding. As part of your plan, consider the role licensing will play in brand recognition and your marketing strategies. The project will have two parts, a 750-1,000 word written report and a 5-10 slide PowerPoint presentation/pitch explaining the merchandise rebrand. Include relevant talking points in the notes section for each slide in the PowerPoint presentation.
For both the report and presentation, you will need to identify and explain the key components below.
Problem: Explain why you are must rebrand the team's merchandise.
Rationale: Using data such as Fan DNA (demographics), sales, and information related to brand recognition, justify the necessity for rebranding.
Plan: Provide details about specific steps you will take to rebrand, license, and market merchandise. Focus on finding innovative ways to use technology in the rebranding process.
ROI: Include cost and revenue projections for the plan.
Evaluation: Explain the metrics that will be used to evaluate the success of the merchandise rebranding.