Event management has developed to be a major trade. Due to the size, scope and complexity of events, the services of event manages are required. Although the main role of an event management is to plan and coordinate an event, they also manage the commercial aspect of the event…
The sponsorship should take into consideration the continuous funding of the event and the value and goals that should be met. Commercialisations of events have led to the compromise of values in event managements and have led to failure in some events. The project proposal aims at evaluating the challenges faced by event managers in handling sponsorship. It also aims at coming up with better strategies to improve sponsorship.
Event management is a task that has a long history. Today, various events are held. The events range from games, festivals, concerts, meetings to political rallies. Up to these days, events remain an important part of people's culture and help social development of people. For their success, these events need to be managed. In managing events, sponsorship is very important. It should be noted that managing events is expensive and needs funds. Sponsorship of an event is not just as way of raising funds for the events, but it also entails marketing. The finding of sponsors, choice of sponsors and managing marketing and commercials should be an integral part of event management.
Sponsors are important in event management. Good management of sponsors is lacking in event management. It should be noted that events are very important elements to people's culture. A successful event should send the required message or meet the desired goals (Allen, Bowdin, 2006, pp123). It should be noted that there are different categories of sponsors. Some sponsors are not motivated by business while others are motivated by business and aim at marketing their products. In managing sponsors, some event management conflict over the amount allocated to a certain sponsor and the recognition of the sponsor as a sponsor to an event. Poor management of sponsor could explain the conflict in events and the inability to sustain a sponsor for a long time. Lack of good sponsorship management also leads to failure of some events.
Which and how important is the role of sponsorship in an event management context
Aim and objectives
Managing a sustainable fund is a principle element of event management. Sponsors are the main sources of funding to an event and they should be well managed. The management of sponsorship should ensure a sustainable fund and at the same time maintain the integrity of the event (Cornwell, Amis, 2005). The research will establish the problem encountered in managing sponsorships and come up with a better way of managing the sponsors. The project will also establish things which people managing events can do to ensure sustainable fund for events.
Events are an integral part of communities. In the early days, every community had its own events and activities. The events were great opportunities for social development and development of cultures. It was also a great opportunity for interaction, communication and development of leaders (Berkowitz, 2008). In the past, the major activity had either cultural or religious base and involved people from a given geographical region. Although cultural and religious events remain important today, events have taken different perspectives including people from various cultures and large geographical regions. Small events are not involving and their management is simple; ...
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(Event Sponsorship Essay Example | Topics and Well Written Essays - 1750 Words)
“Event Sponsorship Essay Example | Topics and Well Written Essays - 1750 Words”, n.d. https://studentshare.net/business/288812-event-sponsorship.
Introduction Sponsorship is a form of marketing that has the benefit of the opportunity to support a cause that is beneficial to the branding of a product. In creating an association between an event and a product, a business can benefit from the relationship.
Corporate sponsorship has thus become one of the most important elements of Integrated Marketing Communication and overall marketing strategies too. Though sponsorship may not always be appropriate for all kinds of companies, many marketers have greatly been successful in establishing a brand equity strategy through events they sponsored.
However, events need sponsorship in order to create value. Corporate sponsorship can be defined as a business strategy where organsiations associate with events by paying. It can be assumed that corporate sponsorship is a medium of getting noticed along with expanding the overall reach in a great manner.
In this sense, sponsorship characterizes investment placed into causes or events that bolster corporate objectives. These objectives could be such as enhancing the corporate image or building brand awareness (Dean, 2002). Research indicates that consumers view sponsorship more favourably compared to other kinds of cause related marketing spending including providing gifts or monetary benefits to charity organisations when products are bought by consumers (Creyer & Ross, 1996).
As a result, three parties are involved in the corporate sponsorship of events and they include the audience, event organizers and the corporate institutions themselves. A critical analysis of these three parties raise the question of the importance of having corporate sponsorship, which acts as the motive for carrying out this research to assess and evaluate its importance from the dimensions of three stakeholders.
A better way of creating a buzz word regarding the company is through event marketing. Event marketing is now gaining fast importance as a promotion mix (Sneath, Finney & Close, 2005). This strategy is now followed by large number of organizations as a response to the challenges faced in the traditional media like fragmentation, clutter and cost.
For event management companies' major source of funding for an event comes from sponsorship. Sponsors invest their capital in a certain event in hope to reap benefits such as increase in sales, customers, reaching a wider target audience. The ultimate goal of corporations is to increase brand awareness which in turn can return them with the aforementioned benefits.
The author of the essay provides the information concerning sponsorship in sports. It is stressed that a sport in terms of industry is a huge market, which is growing day by day. It is also mentioned that for this growth huge money is required which is done with the help of sponsorship. Thus, sponsorship in sports is considered essential nowadays.
In many cases, sponsorship comes in terms of services, resources, or funds. However, the club or individual are obliged to give some rights or benefits to the corporate body that will ensure that there is some commercial advantage.
and financing either a particular sports activity or a team in competitions with an aim of promoting the brand in the public eye so as to gain advantage in the competitive industry. Sport sponsorship may be through financing an event or a club or sportspersons as the sponsors
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