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Selling and Promotions

Selling and Promotions. 5.03 Discuss the use and importance of Sponsorships and Endorsements. 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.

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Selling and Promotions

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

  2. 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

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

  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 customers • 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 • 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?

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