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Why Sport Sponsorship is important for a company marketing strategy?
Pages 45 (11295 words)
In today’s business world, marketers are in continuous search of new avenues which can be used to promote their products and services and therefore gain new customer bases or retain existing ones (Kotler & Armstrong, 2008; Farris et al., 2010).
In addition to this, the research work also aims at understanding the influence of sports sponsorship on target audience. In this study, the researcher has selected a mixed research approach for this study, which includes both qualitative and quantitative research approaches. Following this approach, the study includes interview with manager of Nike and survey of Manchester United fans. The interview responses are analyzed on the basis of thematic analysis approach, whereas responses from survey are analysed statistically, which include descriptive and regression analysis of the responses. The study has concluded that sports sponsorship has a significant importance for business entities, particularly Nike, which has been considered in this study. The findings of the study have concluded marketers regard sponsorship as a significant marketing tool. In addition to this, an overall positive impact of sports sponsorship of Nike has been observed on its brand identity. In today’s business world, marketers are in continuous search of new avenues which can be used to promote their products and services and therefore gain new customer bases or retain existing ones (Kotler & Armstrong, 2008; Farris et al., 2010). Sports sponsorship is a modern marketing tool, which is nowadays used extensively by a number of large business enterprises (Ferrand et al., 2007). ...
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