Sponsorship

• What is sponsorship?

  A payment to an event for visibility
• What types of entities can be sponsored?

  Sports teams, TV shows, or festivals
• How is sponsorship categorized in marketing?

  As a type of promotion in the promotional mix
• What is sponsorship sometimes seen as?

  A specialist version of public relations
• What are the advantages of sponsorship?

  • Increases visibility and profile of the business
  • Improves brand image if aligned correctly
  • Can lead to increased media sales and repeat sales
  • Reduces price sensitivity of customers
• What assumption is made for sponsorship to improve brand image?

  The appropriate event or organization is selected
• How can improved brand image affect pricing strategy?

  It can reduce price sensitivity of customers
• What is a potential risk of sponsorship related to event success?

  Failure of the event can impact reputation
• What must align with marketing objectives for sponsorship to be effective?

  The event or organization being sponsored
• Why is it vital for sponsorship to align with the target market?

  To ensure the sponsorship is effective
• What are the disadvantages of sponsorship?

  • Tied to the success of the sponsored entity
  • Potential negative impact on reputation if unsuccessful
  • Must align with marketing objectives for effectiveness