A general analysis of the importance of corporate sponsorship in events to the audience reveals that the audience is often in a position to gain, but these gains can be both positive and negative for the parties involved. On the positive perspective, there is issuance of presents and gifts that corporate sponsors often bring with them to woo and reward the audience into and for attending the sponsored event. This is a crucial aspect in that the audience gets to interact with what the corporates have to offer in terms of services and goods through their attendance and sponsorship. Moreover, it offers the corporate an opportunity to market and promote their products, services to the society thereby tapping into potential markets. However, some of these corporates take advantage of the audience to run entertainment events or, in some cases, competitions. These competitions, which are held as raffles only indulge members of the audience, and they serve to entertain the audience and provide a sense of reality in their interactions. However, this is not fully beneficial for the audience in that some institutions bring out their goods or services in the form of prototypes that they would like to test for the first time. The application of this strategy is usually to the disadvantage of the audience in that any side effects that come to be, only affect the audience, who are usually not informed. However, in some noble cases, the audience is notified of new products by the institution in question, which serves to their benefit in that they engage in a rare feat. Engaging in an event or getting to be part of the unveiling of a new product or service, although as a test product, is a crucial aspect for an audience as it serves as first-hand experience to cherish. Moreover, the service or product is usually free of charge, which means it works for all parties involved in terms of creating an image, as shall be seen later. Altogether, there remains discord towards the benefits and damages of sponsorship towards audiences and their wellbeing. The importance of corporate sponsorship can also be analysed from the perspective of the
Corporate sponsorship has been taking centre stage on many occasions, especially in recent times where it has been discovered as a powerful tool for promotion and marketing. This power can also be referred to as the key importance that has several perspectives, which are based on the stakeholders they affect…
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.
Operations managers use appropriate strategies designed by the top management of a company in order to run the company. 2. Importance of Operations Strategy An operations strategy is of critical importance not only for the operations management but also for the whole organization.
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.
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).
This will be a one-day activity which aims to bring together the city’s top players and have an exhibition game which will showcase their sports prowess. To enable the organizers to do this, invitations for targeted individuals to be tapped as team players shall be sent.
It advances the performance of organization by ensuring larger flexibility and firm pledge from workers. Corporate heritage refers to everything performed in an entrepreneurship business related to its norms, heritage, emblems, systems, convictions, habits, aspires, and objectives.
The growth of new media has altered the nature of the marketing mix, given that sponsorship has become increasingly powerful and engaging tool for brands. Indeed, new media technologies have considerably enhanced the
However, despite the fact that the event industry in non-homogeneous, it serves several roles in providing a mixture of goods and services to people. The event industry has always been expanding since time immemorial. This follows the
over express references to event arranging organizations, and in this paper we contend that this administration division ought to be thought seriously about when breaking down innovative businesses. We additionally battle that investigations of inventiveness in this area profit
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.
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