ONE of local sport's most respected voices Mike Fennell yesterday laid out the fundamentals of a road map that must be followed if Jamaica hopes to cash-in on its rich sporting success.

Fennell, who has led the Jamaica Olympic Association (JOA) for close to 35 years, outlined his ideas as a presenter on yesterday's second day of a three-day Jamaica Stock Exchange (JSE) seminar on growing business through the current world economic crisis being staged at the Jamaica Pegasus Hotel in Kingston.

Protecting the brand and trademarks; identifying the products and services that can take advantage of the brand recognition; collecting and analysing marketing; and establishing quality standards were the methods Fennell highlighted as the route to take.

Jamaica has reaped much sporting success, especially in the field of athletics, since it debuted at the first Olympic Games in London in 1948 and has earned over 50 Olympic medals in 54 years since then.

However, the ability to convert the golden performances on the track into a money-spinner for the country remains elusive, while many other countries worldwide have systematically developed ways to harness the financial returns that come with their sporting achievements.

"I know that it's (sport) recognised in many parts of the world as an important part of the economy," said Fennell, who led the 70-plus member Commonwealth Games Federation for more than a decade before his retirement late last year.

Fennell said that exploiting a brand's potential required special expertise and noted that this applied not only to individuals or countries but also to organisations as well.

He singled out the International Olympic Committee (IOC) as one international sporting body which had taken advantage of its brand and maximised its earnings, taking in US$700 million over the last four years alone through its association with 11 multi-national companies.

Those 11 companies, which include General Electric, Coca-Cola, Panasonic, McDonald's, Samsung, and VISA fork out hefty sums to the IOC for the right to use Olympic symbols and and other branding properties to promote their products and services.

According to Fennell, a brand cannot succeed without the backing and support of the other surrounding systems.

"(We) cannot be successful if the supporting mechanisms are not in place and if the product itself is deficient," he said.

"The welfare and benefits to the athlete and sports generally must be a part of the mix to ensure that the present level of success can be maintained or surpassed," he added.

Fennell, who has also functioned at high levels in Jamaica's corporate environment, noted that the upcoming Olympic Games in London, which will coincide with the 50th anniversary celebration of Jamaica's Independence, would serve as another opportunity for brand Jamaica and showcase the country's talent.

"I believe that sport has established quite clearly and without doubt their contribution to the strength of brand Jamaica," he concluded, imploring those present to take the next step necessary to move the brand forward.

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