Corporate sponsor is the company that provides support for an event, activity, person, or organization. This support (sponsorship) can be financial or through the provision of products or services. Corporate sponsors are usually big/medium-sized enterprises, international banks and insurance companies. All over the world different companies and banks create foundations. One of the main purposes of these foundations is sponsoring for particular persons, groups and variety of organizations (in areas of arts, sport, charity etc.). By sponsoring of press publishers, radio stations and TV channels corporate sponsor expects them to provide advertisement and publicity about its company.
Sponsor is the company that wants to be held recognized for donating resources to other (sponsored) person, group or institution. Sponsored uses the resources to achieve its goals and represents the sponsor by performing various activities.
Types of corporate sponsors
- title sponsor,
- general sponsor,
- external sponsors,
- official sponsor,
- technical sponsor,
- informational sponsor,
- participating sponsor.
Companies which want to be a sponsor might choose one of above mentioned type.
Standards of evaluation of potential corporate sponsor
Creating ideal sponsorship model is not an easy work. Main role plays trustful and supportive atmosphere between sponsor and sponsored, tolerant and ideology-free initiatives. Sponsor must remember that it’s important to sponsor an institution with correlating business profile and the same overall orientation. Another important issue is reliability, both sponsor and sponsored must believe in success of this cooperation.
Corporations should rely on following standards of evaluation of its possible sponsors:
- employees approval,
- close relations of sponsored institution to product or services performed,
- role of corporation in society (corporate social responsibility),
- social and cultural factors affecting business.
- amount of financial resources available for sponsorship,
- corporate image,
- sustainability of cooperation,
- previous experience with sponsored institution,
- size of the planned funding.
- McDonald, C. (1991). Sponsorship and the image of the sponsor. European Journal of marketing, 25(11), 31-38.
- Meenaghan, T. (1991). The role of sponsorship in the marketing communications mix. International journal of advertising, 10(1), 35-47.
- Rifon, N. J., Choi, S. M., Trimble, C. S., & Li, H. (2004). Congruence effects in sponsorship: The mediating role of sponsor credibility and consumer attributions of sponsor motive. Journal of Advertising, 33(1), 30-42.
Author: Pavlo Novikov