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Finance & Accounting
Pages 6 (1506 words)
Running Head: Sports Sponsorship Sports Sponsorship Name: Course Instructor: Course Name: Date: Introduction In recent times, there has been an increase in the need for sponsorship in both sports and recreation. The funding for the sports has not been confined only at the elite level but has also been at the grass-root…
This paper is aimed at analyzing the extent of sponsorship by indicating what has been spent and by whom with the aim of arming the readers with the relevant information in planning for sponsorship. Sports sponsorship is a golden opportunity for companies to market their products on a large scale. Whenever companies align their products with the value of the sport, the result is that the customers associate the success of the brand with that of the sports team that they sponsor. The linkage of brands and the emotional connection that the target consumers have for particular sports in one of the largest market places in the world can have a profound impact on the market share of those brands. Brands and corporations can have the power to leverage upon the sponsorship of certain sports with the goal of building a long lasting relationship with the customers. The emotional bond that sports enthusiasts attach to the sports can be transferred to a brand if the sponsorship is right. Such bonds are not usually temporary and in most cases last for a lifetime (Dobson & Goddard, 2001). This presents the corporations with the perfect opportunity to capitalize on those opportunities by building customer loyalty which may be the cure for surviving economic uncertainty in the long term. Discussion TV programming now encompasses a vast diversity in terms of coverage of sports events. ...
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