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The Expanding Field of Sports Sponsorship and Relate It to Growth in Market Share for Multinational Organisations
The Progressive Sports Theory Model is confirms a direct relationship between sport sponsorship and increase in market share for an organisation. The model begins by emphasising the need for extensive market research. This requires a company to review and prioritise its specific objectives. It then calls for the organisation to identify the evaluation criteria and screen proposals to identify the Sporting team, athlete or event it wants to create an association with, keeping in mind that the brand imbues the qualities of the sponsored sport such as in the case of Nike and Redbull.
Sponsorship needs to be done in conjunction with other elements of the marketing mix and thus supported by adequate advertising, public relations and various other promotional expenses. The MIXMAP model should be utilised in selection of a team keeping in mind the reach and frequency desired by the organisation. Appropriate methods such as pre and post event surveys along with syndicated tracking surveys must be utilised to then measure the effectiveness of the sponsorship, along with increase in sales volume. Once brand awareness has been created and competitive advantage sought, the final result will be an increase in market share for the company as verified by the cases of B&Q, Nike and Emirates.
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