Sponsorship marketing

From CEOpedia | Management online
Sponsorship marketing
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Sponsorship marketing is one of the fastest growing forms of promotion; a tool promoting products, companies or brands within the sponsored unit. It is a contract where a sponsor provides the sponsored unit with resources needed to achieve its goals. On the other hand, it allows the corporate sponsor to use the commercial values of the sponsored to boost its marketing procedures. Thanks to that both units get associated and recognized as partners what can have positively synergize their results.

Units involved in Sponsorship marketing

  • Sponsor (sponsoring entity) - company, person or organization that wants to be held recognized for donating resources to the others.
  • Sponsored - company, person or institution that uses the resources to achieve set goals and represents the sponsor with its performance.

Areas of sponsorship marketing

  • sport (individual sportsmen, teams, events),
  • culture and art (museums, theatres, galleries, artists, events),
  • healthcare (research and development),
  • public services (events to good public cause),
  • science and education (research, conferences, schools and universities aids),
  • ecology (protecting the environment).

Types of sponsorship marketing

  • personal, institutional, project realization (depending on who/what is sponsored),
  • financial, objective (depending on the character of the cooperation),
  • active, passive (depending on the activity of the sponsor),
  • short term, long term (depending on the time of the cooperation),
  • regional, international, within the country (depending on the area where the cooperation is set).

Role of sponsoring in marketing

The role if sponsoring is wide. It can start with dealing with social issues ending at the economical aspect. For instance it is good for the communities helping healthcare, culture, art and education and of course the ecology. The role of sponsoring for companies would be to create a positive look to the their existence making it more popular and wanted. Sponsoring is said to be a mixture of marketing and public relations with all of its compartments. This is to bring all of their positive aspects to the corporate sponsor.

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Author: Michal Truszkowski