Event sponsorship is a type of promotion where a company develops sponsorship relations with a particular event such as a concert, sporting event or other activity.
Further discussion on event sponsorship:
Event sponsorship, aside from charity sponsorship, is a part of a company’s IMC plan. The main reason there’s an attraction to event sponsorship by marketers is that they can get their product or company name in front of many consumers at once. Marketers know that if they get their product or company under the right event sponsorship, they can get visibility among their target audience.
Most corporate event sponsorship monies go to the sports industry. Among the top sports to receive sponsorship’s include:
- Auto racing
- professional sports teams
- Olympic teams
Example of event sponsorship:
RJR Nabisco used auto racing to target their tobacco brands to racing fans. RJR Nabisco found that racing fans where a big part of their tobacco products business. Using sponsorship helped promote their cigarettes and tobacco since these products are prohibited from being advertised on radio and television.