RCSM 420: Sponsorships
RCSM 420: Sponsorships 420-001
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This 4 page Class Notes was uploaded by scampbell20 Notetaker on Friday March 18, 2016. The Class Notes belongs to 420-001 at Indiana State University taught by Dr. Matthew Blaszka in Spring 2016. Since its upload, it has received 8 views. For similar materials see Sport Marketing in Recreation and Leisure Studies at Indiana State University.
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Date Created: 03/18/16
Sponsorship Exchange theory -the practice of seeking a cash and/or in-kind fee paid to the property (typically in sports, arts, entertainment or causes) in return for access to the exploitable commercial potential associated with the sport property. -Investing in a sports entity (athlete, league, team, or event) to support overall organizational objectives, marketing goals, and promotional strategies Advertising vs Sponsorship -advertising is not sponsorship -It can be part of a sponsorship strategy -don’t have to be a sponsor of an event to advertise during it -advertising is generally purely a media buy -sponsorship is a relationship with an organization -hope is that sponsorship offers better chances to build loyalty and brand equity. Before Properties Sell Sponsorship -Have a good control on the inventory they can offer -determine what levels to offer (e.g., title, presenting, official, etc.) -what categories you want to sell/can sell -understand what they want from a sponsor What Properties Want from Sponsors -Revenue -size/type of property will determine how much revenue property needs from sponsorships -ability to generate revenue dependent on the type of property -size and scope -who the event reaches -media coverage -location -popularity -etc. etc. -B2C and B2B opportunities -Cost Avoidance -cover items in the budget -in-kind services -pros -no money changing hands -sponsors are moving product/services -events do not have to pay for product/service -cons -may not always be the best deal for the event/sponsor -must be sure to have researched the financial implications -Activation – “Leveraging” the sponsorship -additional investment above and beyond the rights fee by the sponsor -rights fees provide you with the opportunity to be a sponsor, activation helps the sponsor meet their objectives -enhance image, attract new customers, influence sales, etc. -events want sponsors to promote the event -build awareness, develop promotions, sell tickets, advertise, etc -done through working credits into an agreement -Before Corporations Sponsor a Property -have a clear understanding of their goals and objectives -not always revenue driven -understand how much they can spend Customer Hospitality/entertainment -one of the biggest components of a sponsorship -paticularly for b2b companies -invite top customers to the event -looking to gain incremental business and build relationships Ownership -title a certain award, playoffs, championship, etc -allows sponsor to break through the clutter Pass through rights -transfer of rights from one entity to another Corporate Social Responsibility -raise money for a cause -may be primary goal or in addition to others Co-promotion opportunities -ability to make contacts with other sponsors of the event -sponsor summits Clutter/Noise Ambush Marketing -endorsing an athlete -commercials during the event -sponsor broadcast/segment of an event -themed advertising, packaging, etc Lack of activation Sponsorship Sales Process -packaging -pricing -potential investors/targets -contacting targets -proposal -deal acceptance/rejection -contract -after the sale
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