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Sponsorships

Sponsorships . Sponsorship. definition: underwriting an event for the purpose of gaining positive association for a brand with the event, the participants, and/or the attendees http://sponsorpitch.com/sponsors The Sponsorship Seeker's Toolkit. Reasons for Sponsorship.

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Sponsorships

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  1. Sponsorships

  2. Sponsorship definition: underwriting an event for the purpose of gaining positive association for a brand with the event, the participants, and/or the attendees http://sponsorpitch.com/sponsors The Sponsorship Seeker's Toolkit

  3. Reasons for Sponsorship • To increase sales and profits • to introduce a new product or service to a large audience • to be identified with an event in which the target market is interested • to earn the goodwill of the audience by showing a commitment to the community

  4. Reasons for Sponsorships • To entertain clients, employees, or potential customers • To enhance the company's image • to enter new markets or a niche market What do sponsors expect in return for their investments?

  5. Endorsement definition: person's public expression of approval or support for a product or service • Endorsements are promotional tools-not a form of sponsorship • Politicians, doctors, professionals, and ordinary citizens can endorse products. • Who do you think is most effective?

  6. Endorsement Federal Trade Commission (FTC): a U.S. governmental agency whose principal mission is the promotion of consumer protection and competitive business practices • has the authority to create and enforce trade regulations regarding industry-wide practices • http://www.ftc.gov/

  7. Which ones are considered endorsements? • a film critics comments, if used by the filmmaker in an ad • a paid, unknown actor in a commercial • two unidentified teenagers talking about a product or store • an ad for golf balls in which a famous golfer is shown hitting the balls

  8. Legal Restrictions • truthful opinions and beliefs • real experience with the product • cannot be deceptive or misleading • cannot be presented out of context or reworded • endorser must use, continue to use, and believe in the product • if the product changes, the endorser has to be informed, and the endorser must continue to use and believe in the product

  9. Celebrity Endorsements Advantages? Disadvantages?

  10. Advantages: • consumers will buy products endorsed by celebrities more often • viewers, listeners and fans are less likely to turn off a commercial featuring a celebrity • consumers tend to believe celebrities

  11. Disadvantages: • expensive • Some celebrities endorse several different products, and sincerity can be doubted • negative publicity if the endorser commits a crime

  12. What Businesses Seek in an Endorser positive, charismatic, and trustworthy most consumers know whose career is in process (rather than retired) presents few risks has a believable relationship with the product

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