1.07 Employ sales-promotion activities to inform or remind customers of business/product.
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Transcript of 1.07 Employ sales-promotion activities to inform or remind customers of business/product.
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1.07
Employ sales-promotion activities to inform or remind customers of
business/product
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Explain the nature of SPONSORSHIP in SEM industries
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What is Sponsorship?
• Sponsorship:– Providing financial or other support to a
sport/event in exchange for recognition– Two or more parties benefit from the
arrangement in the form of a partnership – Sponsors want recognition & affiliation
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Successful Sponsorships
The key to building successful sponsorship programs is to match the correct products or
services with the people who want to purchase them = their target market
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Sponsorships for Small vs. Large OrganizationsSmall Organization Sponsorships Large Organization Sponsorships
• May not spend the time to develop good sponsorship programs
• May provide unrealistic deadlines
• Limited staff
• May have more difficulty communicating with the sponsors
• Tend to develop poor relationships with sponsors
• May have staff or be able to hire consultants to develop a good sponsor program
• Better program organization
• Good communication with sponsors
• May have unrealistic expectations about their event
• Sponsors have more confidence in giving money to large organizations
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BENEFITS of Sponsorships
• Public and Community relations = Increase of Brand Image
• Brand recognition directly with your Target Market
• Sales and profits through affiliation & brand awareness
• Market Share and/or introduce new products– Enter new markets
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RISKS of Sponsorships
• Loosing Streak• Too many sponsors at one event• Could create a bad image and your associated with it
– Example: Super Bowl wardrobe malfunction in 2003
• Could encounter Ambush Marketing– Ambush marketing is when a company will expose their products/logo at
an event without authorization or payment LEGALLY– Goal of ambush marketers is to encourage fans to view it as a sponsor– Example: Coke is a sponsor but Pepsi is outside the event handing out
free Pepsi tees or coolies
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EXCLUSIVITY in Sponsorships
• When a business purchases the rights to be the only one of its kind to sponsor a sport entity– Example: You will not find Coca-Cola and Pepsi sponsoring
the same event
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PARTNERSHIPS
• Relationship between sponsor and sponsee– Communication and develop partnership– Ongoing dialogue to expand relationship
• Both parties benefit
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Sponsorship Contracts
SPONSORSHIP PROPOSAL: includes information about cost,marketing opportunities, audience demographics, conflicts and
time parameters
Formal contract: spells out exactly what each party will do(Avoid legal conflict)
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Why Should EXPLOIT your Sponsorship
EXPLOITING THE SPONSORSHIP = ADVERTISING YOUR SPONSORSHIP
– If a business spends all of their marketing budget on
sponsorship fees = No money left over to advertise the
sponsorship
– If target market is not aware of sponsorship, then
sponsorship is wasted money!
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Sponsorship Car Activity
• Find a Racing Car (NASCAR) and identify • Driver and number of the car• Major sponsor• Minor sponsors• How many sponsors did you find on one car?