The paper provides a comprehensive study on the motivation that drives the corporations to invest in sponsorship programs specific to special event related sponsorships. The study also aims to identify and highlight the benefits that are reaped by the corporation as a result of the sponsorships provided to special events programs.
The study is based on a literature review of articles as well as previous studies on the topics pertaining to corporate sponsorships and their investment in the special event sponsorship programs. Aside form the literature review however a market survey on the effectiveness of corporate sponsorships was also employed.
The literature review provides that the main motivations which drive the corporation to invest in special events sponsorships is to increase the image and the reputation of the company, as well as establish the company as a socially responsible corporate citizens. Other motivations of the company pertain to using sponsorship as a channel of reaching out to the customers and interacting with them. The benefits that were ascertained through the research which are reaped as a result of the special event based sponsorships pertained to increased goodwill and reputation of the company, a platform for interaction with the prospective clients and customers of the business, cuts on the payable tax as a result of donations through investment in public service, developmental and cause related sponsorship programs etc.
The consumer/ market survey provided that the general public believe that the special event based sponsorship taken up by the corporations to be based on establishing and highlighting the shared values of the two parties and that it does improve the overall reputation and image of the company and its brands.
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