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5.03 Discuss the use and importance of Sponsorships and Endorsements

5.03 Discuss the use and importance of Sponsorships and Endorsements. SPONSORSHIP. Financing of a sports or entertainment entity (athlete, team, concert, or event) by a business in return for recognition affiliation. SPONSOR:.

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5.03 Discuss the use and importance of Sponsorships and Endorsements

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  1. 5.03 Discuss the use and importance of Sponsorships and Endorsements

  2. SPONSORSHIP • Financing of a sports or entertainment entity (athlete, team, concert, or event) by a business in return for recognition affiliation

  3. SPONSOR: • A business, person, organization, that finances a sports or entertainment entity • Financing can be in the form of money, products, equipment, services, or any combination of the four

  4. Reasons for Sponsoring SEM Events • Increase sales and profits through affiliation • Increase market share for existing products and services • Introduce new products or services • Increase brand awareness and company image

  5. Reasons for Sponsoring SEM Events • Enter and reach new target markets • Build and maintain relationships with customers • Build and maintain goodwill within the community

  6. Reasons for Sponsoring SEM Events • Entertain clients, employees, or potential clients and their families • Entertain existing customers, potential customers, or employees and their families

  7. Types of Sponsorships • Barter Sponsorships –company doesn’t pay for the sponsorship solely with monetary compensation • Also referred to as “in-kind” Example – Sponsoring a little league team; company pays for equipment and uniforms in return for their name/logo on the team’s uniforms

  8. Types of Sponsorships • Endorsements – also called testimonials are personal recommendations regarding the use or quality of a good or service • Consumers are more likely to purchase a good or service if a celebrity endorses it • For example, Dennis Franz using Nextel phones in commercial

  9. Types of Sponsorships • Naming rights – contractual agreements between a sponsor and a venue or event • Company or organization will sponsor a sports or entertainment facility or event • In return, company or organization’s logo will appear in affiliation with the facility or event

  10. Types of Sponsorships • Naming rights Examples include: • Fed-Ex Orange Bowl in Miami • Coca-Cola 600 at Lowes Motor Speedway

  11. Personal Services Agreement • Are contracts between a company and a celebrity for the endorsement of a good or service

  12. Personal Services Agreement – Obligations May Include: • Hours the celebrity has been contracted • Does the celebrity have the right to refuse an engagement? • How far in advance must engagement be scheduled? • Is there a minimum/maximum amount of time a celebrity must spend at any single event?

  13. Personal Services Agreement – Obligations may Include: • What type of travel and hotel accommodations will be provided? • What affect does immoral conduct by the celebrity have on the agreement? • Is the contract related to the overall achievement of the celebrity?

  14. *Go to 5.04 Technology PowerPoint*Get Guided Notes Sheet*Get 5.03-.04 Sponsorships & Tech Review*AFTER all else is finished…may do sponsafier!

  15. NASCAR Sponsorship Activity • Select 10 sponsors for a new racing team. • Not presently a NASCAR sponsor. • NASCAR website (www.nascar.com) has link providing present sponsors • Scroll to the bottom to “About NASCAR” and click on “Official Sponsors” to review the list of sponsors • Selected sponsors should have the same target market • Identify target market and provide rationale for choice of sponsors • Then go to http://www.sponsafier.com/#/home and design a race car using your sponsors!

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