StudentShare solutions
Triangle menu

Sourcing Decisions of Arts and Media Organizations - Essay Example

Nobody downloaded yet

Extract of sample
Sourcing Decisions of Arts and Media Organizations

Likewise, the process of fund raising and donations has rather become a commercial activity that not only has resulted in more and more charity events but has also created a market within that is funded by such large organizations. The amalgamation of social services and media and arts has been an eminent result. Hence the market for sponsorships has thrived. These can be seen by the famous charity events by BBC and FOX news (Dan 2011). Thus, activities like fundraising, donations and sponsorships are of strategic importance to such organizations which is why sourcing decisions are of integral importance to not only a firm’s financial standing but also to its public relations. It has no become a necessity to get the charity events sponsored or to sponsor a charity event for that matter, as it adds to the reputation and good will of the company. Likewise, firms involved in fundraising are evaluated on the basis of their participation in social activities and on this has become marketing an essential marketing tactics to broaden their customer base and reach of the brand. Fundraising events or sponsorships act as a contact point for several untapped markets and increases brand loyalty of the existing customer base (Pope 2010). Therefore, sourcing decisions are imperative. ...
These may include the extended reach of its brand awareness, the objective to increase its brand exposure by having logos placed on the event’s advertisements or simply the motif of profit maximization. These objectives might sometimes conflict with the objective of the firm especially if the event is a charity event (Pope 2010). In that case both the parties will aim for different incentives thus the marketer must provide more substance than just logo pasting. Moreover, the commercial benefit of the sponsor may often be in direct conflict with the firm’s strategic goals. Hence rounds are negotiations are often common when sourcing decisions are made which however incur much costs for the firm (Simmons 2006). Therefore, the most crucial step is the decision to choose from the various candidates. A firm must choose the sponsor who is the best fit with the company’s strategic goals as well as its public image. The Consumer Involvement theory suggests that consumers make purchase decisions based on the level of involvement they have with the brand and includes the aspects of consumer behaviour like amount of time spent on choosing the product or service, research about the specific product or service, asking friends and family etc. therefore, like the advertisements and promotions, sponsorships should be based on such considerations (Krohmer 2011). Given the nature of arts and media products and services, which are high involvement decision making processes involving emotion rather than rational, the sponsorship should be based on consumers’ preferences of the emotional brands that they associate themselves. Hence if an organization is unable to identify the purchase decisions of its ...Show more


Sourcing Decisions of Arts and Media Organizations [Name of of Course] [Academic Institution] [Due Sourcing Decisions of Arts and Media Organizations The traditional arts organizations have evolved over time into contemporary art galleries, cultural promotions, arts and media exhibitions and a metamorphosis of the theatre has been observed…
Author : stehrpamela
Sourcing Decisions of Arts and Media Organizations essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Sourcing Decisions of Arts and Media Organizations"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Out sourcing
Through this way, the firm is enabled to react quickly to a fast-changing business environment and be able to grasp so many fleeting opportunities which might otherwise have gone to the competition. As a result of this search for flexibility, business organizations today now outsource non-core functions of their business and just concentrate on their main areas of expertise.
4 pages (1000 words) Essay
Sourcing and Securing Talent
This new aggressive strategy targets the traditional areas. The new strategy will be exercised by promoting products through product innovation, hence, taking in the 'first to market' positioning. Because of this, the company has decided to form a new division that will focus on the technological innovation for this three year strategy.
8 pages (2000 words) Essay
Social Media Impact on the Nonprofit Organizations
It has been therefore used by marketers throughout the world for product activations, publicizing and to reach out to their targeted audience. The bigness of this industry can be shown by having a look at the statistics. According to estimates, social network constitute a total of 230 million members amassing total revenue of $965 million worth of revenue.
9 pages (2250 words) Essay
Employee Re-sourcing & Development
Safeway's retention strategy is based on three key elements - good leadership, strong financial incentives and effective communication. (Walton, 1999, 47-58) During the course of the year, 132 of Safeway's managers have participated in Safeway Leadership programme and 174 have attended Safeway's Coaching programme.
6 pages (1500 words) Essay
One culture could make a certain decision and another culture, under similar circumstances, could take an opposite decision according to the influence of its own culture. The essay will be on the decision making diversities and on programmed and non-programmed decision making and how diverse cultures could affect this process, taking United States and Japan as opposite cultures.
6 pages (1500 words) Essay
Media and Organizations that influence Politics
Further it appears comprehended that the part of social networking is that of an instrument as opposed to energy all by itself. Some of the more established social and urban associations around the globe have been noticeably moderate about grasping these
3 pages (750 words) Essay
Sourcing Material and Services
the needs of a firm to acquire goods and services that would be required directly in the manufacturing of a product or indirectly in the organisation’s operations. Strategic sourcing entails the acquisition of goods and services (Coyle, Langley, Gibson, Novack & Bardi, 2012).
1 pages (250 words) Essay
Discussion Questions - Strategic Sourcing
The staffing process has to be carried out with much keeness so that the organisation can manage to get the right staff the can execute the set functions effectively and efficiently. In the organisation, different assessments are
1 pages (250 words) Essay
Sourcing Process Summary
The solutions created and executed jointly with stakeholders (Sollish & Semanik, 2011). In sourcing process, established protocols and processes ensure
3 pages (750 words) Essay
Implications of Social Media in Organizations
The paper is also going to explore some of the disadvantages associated with the use of social media in organizations. Social media is one of the emerging and highly influential business tools in the modern world. Social media is very cost effective in regards to communication. Social media also holds a diversity of populations relevant to culture, race as well as ethnicity.
8 pages (2000 words) Essay
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
Comments (0)
Click to create a comment
Contact Us