Although the benefits for an event management company are the profits, more benefits are gained by the sponsors. Due to this, the popularity of sponsorship events is increasing.
Sponsorship is now seen as the new marketing tool. This is because it can overcome communication barriers that media advertising cannot (Walliser, 2003). In addition to this, sponsorship marketing can access unlimited target audience. The most popular corporate sponsorship is seen in sports events. Through sports events, corporations can reach a large number of audiences and can also target their brands according to the type of sports and the events.
The aim of this research is to evaluate the importance of corporate sponsorships for sporting events and how can event management companies attract sponsors for such events. The recommendations derived from the research will be given to both the corporations and event management companies so that both gain more benefits. The data collection methods used to accomplish this research include primary and secondary methods. The primary research will be conducted through semi-structured interviews of corporations and event management companies. ...
Different occasions are being celebrated around the world on daily basis. People especially the organizations find it difficult to plan an occasion or an event thus give this responsibility over to someone who can perform it well. Thus, event planning started. As the growth of different events and occasions started in the world, an events industry was formed (Bowdin et al. 2006). Now-a-days, the event planning industry has evolved and changed as compared to what it was in the past. According to Ash (2006) as the trends in event planning kept changing over the time and the industry began to grow, many organizations outsource their company events to the event planning agencies that offer a complete management package from the starting point to the end point. The formation of the event industry has been led by the globalization of markets and communication affecting the trends and nature of the events industry (Bowdin et al. 2006).
According to Allen (2008) the event planning industry now includes professional event management organizations that plan corporate events, social events and weddings. The industry also includes the independent event planners, incentive houses, meeting planners (Allen, 2002). This event planning industry has grown into a multi-billion dollar industry globally. Preparing for an event and organizing everything has been compared to the direction of a movie where once an event starts there is no turning back (Allen, 2008).
According to Walliser (2003), a proper definition of sponsorship does not exist but it usually taken as a strategic corporate giving. Companies now incorporate their sponsoring activities into their marketing plan which has made it a strategic marketing tool (Ferrand & Pages, 1999). Sponsorship management