Kai Clarke

Best Buy Theater Reaches Times Square

August 27, 2010

FROM RETAILWIRE:
The Nokia Theater in Times Square will become the Best Buy Theater in mid-September. The theater will mark Best Buy's first foray into naming rights for any entertainment site. What do you think of naming rights deals for retailers and consumer goods companies?      [more...]

This is all about promotion, marketing and advertising of the Best Buy brand. Naming rights are only one of many ways to do this. Their efficiency at delivering increased Top-of-Mind awareness, is very questionable and the costs to do this--especially during these cost sensitive days--is very difficult. The bad press from undertaking a new naming convention is in itself an issue. Best Buy is better off focusing its monies on increased community actions or awareness, rather than this naming convention, IMHO.