Question

the corporate objectives associated with sponsorships and partnerships in the sport industry. These objectives are:

1.            Generating media benefits

2.            Showcasing unique product features, technologies, or advantages

3.            Achieving sales objectives

4.            Creating exclusivity

5.            Gaining opportunities in hospitality and entertainment

6.            Securing entitlement or naming rights

For each of the objectives listed above:

• Explain how a sponsorship or partnership opportunity could help achieve that objective.
• Provide an example of a company that has used/could use a sponsorship or partnership to achieve the objective.

Answer 1

Answer A:

The sponsorship or partnership opportunity in the sports industry can help achieve the following objectives:

a. Generating Media benefits:

Sponsorship or partnership in the sports industry helps the corporates to come in limelight with the help of the media coverage given to the sponsored sports. The corporate comes in media along with the sports and increases its public view.

b. Showcasing unique products features or technologies:

Sponsorship or partnership in the sports industry helps the corporates to showcase their products their uniqueness and features to the public at large. Which further attracts the public which is viewing the product or technology for buying the product.

c. Achieving sales objectives:

Sponsorship or partnership in the sports industry helps corporates to advertise their products or technologies in the market. Popularity and attraction towards the products of the corporates lead to an increase in sales and profit-making for the corporates.

d. Creating exclusivity:

Corporates coming in the media limelight and the eyes of the public through sports sponsorship creates an image of exclusivity in the market among its competitors. Due to the popularity it gains by being a partner with popular sports in the market.

e. Gaining opportunities in hospitality and entertainment:

By sponsoring sports the sports athletes, their coaches, and team members stay in the hotels and become part of the entertainment industry including stars campaigning, shows, etc. Through this medium, the corporates can reach out to the hospitality and entertainment industry for increasing their scope of customers in the market.

f. Securing entitlement or naming rights:

By sponsoring sports the corporates get branding opportunities and they get a brand value in the market which eventually turns into a famous trademark that is known to the public at large.

Answer B:

The Gatorade Company in the USA has used sponsorship for achieving its objectives.

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