Sport sponsorship

Sport Sponsorship Most business entities devise different ways to promote their products and succeed in the market. Sport sponsorship has been identified as one of those strategies through which the illumination on the market face can be achieved. It is the move an organisation makes by investing and financing either a particular sports activity or a team in competitions with an aim of promoting the brand in the public eye so as to gain advantage in the competitive industry. Sport sponsorship may be through financing an event or a club or sportspersons as the sponsors promote their brands (Lagae, 2005: 67).
Emergence and Growth
Sports sponsorship emerged and has developed based on the fact that most sports teams and events lack the financial muscle to sustain themselves and sponsors come in to assist. Businesses identify a promotion opportunity created by huge audiences sport events bring together. It would then see business associate with sport clubs and events that act as agents of business promotion for the sponsors. This is a mutually beneficial move as both the sponsored and sponsors gain advantages (Fortunato, 2013: 88).
Issues
There are, however, several issues that come along with sponsorship. Cultural factors may prevent successful sponsorship as the players culture may not synchronise with the sponsor’s promotions (Stotlar, 2009: 112). Additionally, negative associations in which many sponsors that promote two contrasting products may sponsor the same event or club. Also, sponsorship fits in which large companies are to be involved poses a problem.
Conclusion
The mutual benefit that both the sponsors and the sponsored teams gain cannot be overlooked. It has proved to be a considerable force behind the development of sports across the world and it deserves to be recognised as much as possible. Sponsorship benefits both parties involved and, therefore, quite effective.
References
Fortunato, J. A. (2013) Sports sponsorship: principles and practices, Jefferson, North Carolina : McFarland & Company, Inc., Publishers.
Lagae, W. (2005) Sports sponsorship and marketing communications: a European perspective, Upper Saddle River, NJ, Financial Times Prentice Hall.
Stotlar, D. K. (2009) Developing successful sport sponsorship plans, Morgantown, WV, Fitness Information Technology.