Pinnacle Financial Partners announced in August 2016 that it
has a partnership with the Memphis Grizzlies. The arrangement seems like a
licensing agreement, but the company refers to it as an alliance. The partnership
introduces Grizzlies Banking which allows Pinnacle to use the Grizzlies brand
on its debit and credit cards and target Grizzlies fans with customized
promotions. As part of the partnership, Pinnacle is launching
grizzliesbanking.com. The partnership will provide exclusive naming rights
dubbed the Pinnacle Level concourse and seating at the FedEx Forum. Pinnacle
has been dubbed the exclusive Grizzlies marketing partner. This agreement has
components of a strategic alliance and components of a licensing agreement. The
competitive benefit to Pinnacle is that the company can take advantage of the
brand equity that comes along with being affiliated with the Grizzlies.
Pinnacle now has an avenue to introduce itself to Grizzlies fans and possibly
convert them to new customers.
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