In an era of fast-fashion marketing and 15-second trend cycles, the Masters stands as a monolith of brand consistency. While most organizations are chasing the latest algorithm, Augusta National is playing a much longer game—one rooted in success to significance.
We sat down with Ryan Russell, associate lecturer of Marketing at the UTC Gary W. Rollins College of Business, to dissect the psychology behind the four Ps at the Masters, the $10,000 gnomes and why protecting the brand often means leaving millions of dollars on the table.
Q: The Masters brand is iconic. What makes it so unique compared to other massive sports organizations?
Ryan: The Masters is a tradition unlike any other, where it’s bigger than golf. This entire brand stems out of tradition. And what makes the Masters so unique is that they understand that tradition. They embrace that tradition. And it bleeds through everything they do from product to the way that they market themselves to the way that they treat fans to the treatment they expect from patrons. Everything they do just oozes brand and they really get that unlike many other organizations or companies.
Q: What are the four Ps and how does the tournament apply those fundamentals to create that perfect atmosphere?
Ryan: So to understand their brand, it means that they do have to go back to the fundamentals of the four Ps: the product, the place, the price and the promotion. You’re not going to see an azalea out of bloom at the Masters. There’s not a blade of grass that’s out of place. That’s the place. Product. We’re all aware of the massive amount of merchandise that’s sold at the Masters. We’ve all seen the menu items, the unchanged pricing, things like that. They get it. Price. They’re very, very careful about the resale market, the secondary market for tickets to go see this thing. And they care deeply about tradition and how that’s conveyed through all of the promotions that happen with this tournament: the soft voices, the tradition, the green jacket.
Q: Let’s talk about the garden gnome phenomenon. Why would a brand stop selling a product that is clearly a cash cow?
Ryan: They sell these garden lawn gnomes that have become so collectible that they’re a huge deal on the secondary market.
You try to go online right now and buy a 2016 mint condition Masters gnome that’s in the packaging — all that good stuff — it’s going to cost you around $10,000 right now. And what has the Masters done to prevent that secondary market to protect their brand and protect who they are, that accessibility, that tradition? This is the last year they’re selling gnomes.
They took steps before of only one gnome for sale per party. That wasn’t enough. And so they’re not going to make them anymore because it was becoming too much (on the secondary market). So, the willingness to issue profits when it costs you something, that’s when you know you’ve got a great brand and that’s when you know you’re really protecting that exclusivity.
Q: Leaving money on the table is a bold move. Why don’t they just raise the price of concessions to match market value?
Ryan: Yeah, the egg salad, all that good stuff. To be able to cut some of those costs in places and make it look like they’re giving the perception of affordability, but it’s actually exclusivity shown in a package that looks appealing. And when you buy that $1.50 egg salad sandwich, how much exposure does that get them? How much would they get and make on those concessions? Are they forgoing money? Absolutely. But what they’re doing is they’re refusing to trip over dollars to pick up dimes. The cachet of their merchandise and concessions that they sell far outweighs those small steps they could be taking to get that money.
Q: How does their specific vocabulary—like calling fans “patrons”—impact how people behave?
Ryan: Language has a big effect on consumer behavior. What we say is what consumers interpret. It took 15 years for Truett Cathy at Chick-fil-A to have their team members say, “It’s my pleasure,” instead of, “You’re welcome.” What Mr. Cathy understood more than most is that leaders are repeaters. And it starts from the top. When you see the way that the leaders of Augusta National hold on to that brand image…what we say has a big effect on the narrative that our consumers derive from everything.
Q: What is the core takeaway for marketing students? How do you distinguish between brand voice and brand tone?
Ryan: One of my favorite marketing books that I’ve read is called Nicely Said by Kate Kiefer Lee and Nicole Fenton. They talk about the difference between brand voice and brand tone. That brand voice —who we are deep down as a brand — that doesn’t change. Now, brand tone can change. When I’m speaking to my college students, I speak in a different way than I do to my children at my house who are 11 years old and nine years old. In the same way that, the tone for the Masters changes. I mean, when somebody hits a winning putt or makes an incredible drive, they cheer. They’re excited. They can have fun with themselves. But what they understand deep down is that the voice, who they are, can’t change. That emphasis on tradition. We see it when brands get off of that. We see when they behave out of character and they don’t embody who they are.
Brand guardian’s perspective: The pivot to significance
For the millennial manager trying to revitalize a legacy company, or the Gen Z entrepreneur building a brand from a dorm room, the Masters offers a vital lesson: consistency is your greatest competitive advantage. In a world that demands “new, new, new,” there is immense power in being “the same, but better.” By protecting their voice and coordinating their four Ps with precision, Augusta National has created a brand that doesn’t just sell tickets—it creates a legacy.
How are you coordinating your four Ps? Are you tripping over dollars to pick up dimes, or are you building a tradition that will last for generations?
Discover how to lead with intent at the UTC Gary W. Rollins College of Business.
