Impact of sports sponsorship on the brand


Sports sponsorship has become a common phenomenon in the present marketing scenario, in an attempt to position brands dominant, powerful and superior to the competitor. Sports sponsorship has become an important tool to enhance the image, brand value as well as the goodwill of the company, as a result companies are investing huge amount of money to stand out of the clutter.
This medium of promotion has added benefits of develop positive image, influence audience opinion, thus in order to increase market share it is important for companies to understand this tool before investing in it, so as to create the desired effective response. Team sponsorship by companies is rapidly growing, thus it makes it important to understand and gain insight about the benefits associated with team sponsorship for brands.





NEED OF SPORTS SPONSORSHIP

  •  It comes with added advantage of driving sales.
  • Publicity through sponsorship and media coverage through television and print media increases brand visibility.
  • It enhances the image as well as the business. 
  •   It projects the companies out of the clutter, differentiating it from the competitors.


ADVANTAGES OF SPORTS SPONSORSHIP

  • It enhances the company’s image and visibility.


  • It positions the company superior in the market, thus differentiating it from its competitors.
  • The relationship with the customer and the prospective customer is maintained and developed effectively.
  • Being a cost effective medium, it gives advantage to small corporations to compete with bigger companies who generally tend to invest huge on advertising activities.
  •  Enables companies to exhibit their services to wider segment of audience.
  • They have the potential of increasing sales of the brand.
  •  It enables immediate customer response to the product offered by the brand.
  •   It provides an added advantage to position products in market so that the audience creates association with it.
Corporate sponsorship has grown tremendously in past few years, previously only large profitable companies could afford to invest in sponsorship activities, but in present scenario even small companies are investing in sponsorship to achieve goodwill and visibility. Being cost effective, small companies are using it as a tool to enhance their image. Sponsorship is a fast growing marketing tool mainly used by companies that want to promote their products or services. 

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