Sponsorship and Marketing Strategy Implications for Economic and Social Benefits
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Date
2011
Authors
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Publisher
Legaltext Publishing Company Limited
Abstract
The present study attempts to examine the impact of sponsorship as a
marketing promotional strategy and the implications for economic
and social benefits. It was observed that sufficient literatures both in
theory and practice supported the importance and benefits of
sponsorship as a veritable means for executing organizational
strategy and as a strong component of a proactive promotional mix.
Organizations that identin) with sponsorship programmes tend to
depict a personality of corporate good citizenship, responsible
businesses, a domain for quality human capital, and valuable
relationship dividends. It is therefore recommended that for modern
organizations operating in a more dynamic world requiring people
and other units be heard, seen, and known should embrace
sponsorship. This will go a long way to help them in the formulation
and implementation of their promotional strategies and would earn
them invaluable dividends such as goodwill, awareness, good
relationship with stakeholders, employee motivation at work, media
coverage, achievement of product and brand related objective,
satisfaction of market segmentation and other benefits. These
sponsorship activities include sports, broadcast programmes, college
scholarship programs, festivals, community annual events, carnivals
and various contest programmme.
Description
Keywords
Sponsorship, Promotion, Strategy, Organisations, Programmes, Objectives, Marketing