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6.01 Explain the concept of sponsorship. ____________ • A business, person or organization that ___________ a sports or entertainment entity. _____________ • The entity (event, sport, athlete, entertainer, or venue) that __________ money for product from the sponsor. ________________ The financing of a sports or entertainment entity by a business in return for recognition affiliation. Sponsorship • Involves money, products or services • Marketing exchange • With any sport or entertainment entity • In-kind sponsorship (continued) • Forms: – – – – – – – _________ Governing bodies _________ _________ _________ Sport Leagues Sponsorship • Factors used to determine what to sponsor: – Increase in product sales – Compatibility and image – Tie-in – Potential media coverage – Exclusivity of competitors (continued) • Types or levels – Title sponsorship – Presenting sponsorship History & Growth of Sponsorship • Roman times – gladiators and chariot drivers would wear colors representing specific merchants • 17th & 18th centuries – pubs in England sponsored horse races • Mid 1800s – local companies sponsored Harvard & Yale rowing teams History & Growth of Sponsorship (Continued) • MLB – first major league sport sponsored by corporations • 1970s – change in sponsorship because of ban of tobacco and alcohol ads • 1984 – Corporate sponsors of the LA Olympics (limit: 30 sponsors) Increase in sponsorship • Athletes as walking advertisements • Ease of targeting a specific market • Increase advertising costs • Lifestyle sports • Live programming of sporting events • New media • Nontraditional sporting activities • Overcrowding of advertising • Taxpayers not willing to increase the amount paid for sports Event Triangle Audience: the potential market Entity: needs the sponsor for financial assistance Sponsorship is an ongoing partnership. Sponsors: need the entity for public recognition Why companies sponsor entities: • Help businesses reach their target market • Increase sales • Increase market share • Inform potential customers about their product • Enhance overall goals and objectives • Give sponsors the right partner • A way to introduce new products • Increase public awareness or perception • Prevent direct competition through exclusivity • Repositioning • Psychographics • Networking opportunities • Exposure and visibility • Promote goodwill Why entities utilize sponsors • Financial support • In-kind support How the audience benefits from sponsorships • • • • Lower ticket prices Exposure to new products Free samples and give-aways Non-evasive advertising