Sponsorship Today Essay -- Business and Management Studies

Sponsorship TodayIntroduction to sponsorshipSponsorship is an important marting tool for many organisations & isan important element of the promotional mix. Sponsorship involves thesupport of an event, activity, person, organisation or product by anunrelated organisation that may exchange money, services or goods inreturn for the association that the sponsorship provides. Sponsorschoose events that attract their target market to enhance their brandreputation & awareness. A method of shaping brand identity,sponsorship can improve company image, raise company profile &generate awareness of company values. An integral part of marketstrategy, sponsorship is useable either as a single marketing activityor alongside other marketing tools such as publicise, publicrelations & promotion in order to leverage the sponsorship & increasethe impact. Sponsorship originated in sports in the 1960s and has been thefastest growing throw of marketing spreading to the arts, media,charities, education & broadcasting as a result of globalisation,technological advances & recognition of the value & revenue that canbe earnt from sponsorship. A planetary medium, few sports or artsevents are now without sponsors looking to broaden their competitiveadvantage. Some forward thinking sponsors now plan long term, usinggrass roots sponsorship to form a bond with their target market earlyin their development as a consumer. Previously used altogether as a PR tool, sponsorship it is now a separatecomponent of the promotional mix, playing an important role in thewhole of the marketing mix. Sponsorship consultants & advertisingagencies now offer sponsorship as a separate marketing tool andresearch agencies provide profiles of audiences, evaluate and measuresuccess.The growth of the sponsorship industry has been largely at the expenseof other forms of advertising, such as media advertising & due to therestrictions on advertising products such as alcohol and tobacco. Sponsorship of charities & other worthy concerns has also vainglorious aspart of cause-related marketing programmes. Types of SponsorshipThe UK sponsorship industry can be divided into four main sectorssports, broadcast and social and environmental and its sponsors paylarge sums of money to be associated with events that have worldwidecoverage. Spo... ... Sudharshan - Mastering Marketing Financial Times- The Essence of Services Marketing Adrian Payne- Value Based Marketing Doyle- Marketing Plans Malcom Macdonald- Marketing Principles and manage Adcock, Bradfield, Halborg, Ross- Marketing CommunicationsWebsites- www.knowthis.com- www.cim.co.uk- www.dti.gov.uk- www.mintel.co.uk- www.wmrc.com - worldmarketsresearch centre- www.magrathesolutions.com- www.marketingguru.com- www.marketignteacher.com- www.meansbusiness.com- www.mediamixweb.com- www.dma.co.uk- www.idm.co.uk- www.etstrategicmarketing.com- www.marketingprofs.com- www.netmba.com- www.mtsu.com- www.banat.com.au- www.jackmar tin.com- www.sponsorship.com- www.vodafone.co.uk- www.variantrandomstate.org- www.uksponsoship.com- www.standardlife.com- www.tinthepark.com- www.themanager.corg- www.sportlink.au.co.uk- www.sohotheatre.co.uk- www.publicity.org- www.nike.com- www.news.bbc.co.uk- www.netmba.com- www.stellaartois.com- www.sportssponsorship.co.uk- www.marketingvox.xom