Event sponsorship Flashcards
What is brand image transfer positively influenced by?
Brand image transfer is positively influenced by the perceived fit between the event and the sponsor.
Why is brand image transfer positively influenced by the perceived fit between the event and the sponsor?
when consumers perceive that the sponsor is congruent with the activity sponsored, they are more likely to transfer the positive images associated with the event to the sponsor brand.
- most authors agree that the more congruent the fit between the two entities is, the stronger is the image transfer
What may happen if a consumer perceives the sponsored activity as good cause but not congruent with the sponsor?
the potential positive impact on sponsor brand image can be mitigated or even reversed (Meenaghan & Shipley, 1999)
What is the definition of sponsorship?
‘The provision of assistance, either financial or in kind, to an activity by a commercial organisation for the purpose of achieving commercial objectives’ (Meenaghan 1983 p9)
How can events benefit from sponsors?
1) Access to a specific niche market, for example mobile operators use event sponsorship as a means of targeting potential customers
2) Corporate brand image creation/ enhancement - E.g for banks they struggle with a lack of tangible products which complicates the task of brand imaging. Sponsoring events is a valuable form of corporate image enhancement.
3) Influencing consumer attitudes about a product or service, some companies use sponsorships to change the perception of a brand. - cider example
4) Improving relationships with distribution channels - A corporation may be seeking development of stronger relationships with agents or firms that currently distiubute its products - Barclays example
5) Demonstrating product attributes - Firm may want to demonstrate new products capabilities
6) Associating a product or service with a particular lifestyle - e.g alcohol companies target young events. The aim is to create memorable experiences that makes people think of the brand.
Who said that sponsorship was ‘one of the most prominent forms of marketing?’
Dolphin 2003
How can sponsorships provide employees with rewards and recognition?
- Organisations often see that sponsoring events allows their employees access to a corporate box/tickets to reward or motivate them
Who created the exchange relationship model?
Crompton 1994
What does Cromptons model show?
The model shows that within a sponsorship, Events seek: - Financial investment -In-kind services - Marketing and and media expertise - event brand enhancement Business seeks: - Increased brand awareness - Brand image enhancement - product trial/service enhancement - sales or hospitality opportunities - market interactivity
What is meant by sponsorship leveraging?
When a leveraging strategy or a range of marketing activities are put in place that extend the sponsorship benefits well beyond the festivals promised offer
- E.g Adidas was a sponsor of 2002 world cup, reportedly budgeting $88 million to exploit their sponsorship, with the cost of the official sponsorship being somewhere between 20 and 28 million
What did Cornwell et als work show about the perceived fit?
The greater the fit between the sponsor and the sponsee the more effective the sponsorship
According to Gwinner and Bennet what are the different elements that make up an excellent sponsor fit?
1) Brand Cohesiveness - Brands that have a clear and distinct image
2) Sponsor fit - How relevant to and compatible with the event the market are the sponsor products
3) Goodwill - when the sponsor positively impacts a persons experience at an event, goodwill is generated towards the sponsor.
What does a sponsorship policy include? what is it?
- It is a policy created by events seeking sponsorship in order to help guide their actions
It includes; - the events history of sponsorship and approach to it
- the events objectives, processes and procedures
- Approach made in seeking the sponsorship
- levels of accountability and responsibility within the organisation
Whats involved with the sponsorship proposal?
The proposal should address the following:
- What is the organisation being asked to sponsor?
- What will the organisation receive for its sponsor
- What is the cost?
- Duration of sponsor
According to Ukman, what are the attributes of a successful proposal?
1) Sell benefits, not features
2) Adress the sponsors needs, not those of the event
3) Tailor the proposal to the business category
4) Minimise risk - E.g may indicate some guaranteed marketing activities
5) Added value the sponsor will gain
Whats involved with the screening sponsorship process?
- Used to determine the benefits of each sponsor and includes:
- Customer audience
- Exposure potential
- Distribition channel audience
- advantage over competitors
- events characteristics
What does a sponsorship management plan allow?
- The event to successfully manage the sponsors marketing needs as listed in the sponsorship agreement and to build a quality, long lasting relationship with its sponsors
- These relationships are built on commitment, communication and trust - sponsor more likely to renew the contract
- It also shows the sponsor that their investment is being professionally managed
Why is it important to establish effective communication with sponsors?
- it allows them to see the event manager as a serious marketer who will look for joint leveraging opportunities
What are the techniques for effective sponsorship management?
1) One contact - One person from the event needs to be appointed as the contact point for the sponsor, should be readily available nd have the authority to make decisions
2) Understand the sponsor - Get to know the sponsors organisation, its mission, staff products and marketing strategies
3) Motivate event staff about the sponsor - keep staff informed of the contract, the objectives of the sponsorship and how the sponsors needs are to be satisfied will ensure smooth running and satisfaction from both parties
4) Undersell and overdeliver - Don’t promise what cannot be delivered, be cautious in formulating your proposal and then ensure the expectations that are raised are met and ideally succeeded.
5) Sponsorship launch
6) Principle sponsor
What does a sponsorship management plan identify?
- the objectives the sponsor will achieve, the benefits that have been promised, costs associated with providing these benefits, a review and the timeline for activities that need to be conducted in order to deliver on the sponsorship
How could a GANT chart help with the management?
- A GANT chart would be helpful to show the list of what needs to be done, when by and who by.
Which group of people needs to be addressed in the management plan?
- Stakeholders - attendees, stand of the sponsoring organisation, media, members of surrounding area
What might be included in the cost part of the management plan?
signage manufacturer, promotional material, prize money, sponsor hospitality cost, tickets, postage and prep of evaluation report etc
What is the final part of the sponsorship management plan?
An evaluation and review process - the review process should be ongoing and identify and address any problems that could affect sponsorship outcomes
- Evaluation provides an idea of how the sponsor performed against the objectives that had been set for them
