The research undertaken to determine the motivation available to companies for carrying out sponsorships programs for special events and the respective benefits availed by them from sponsoring such events has depicted that both the parties being sponsored and the corporations who provide the sponsorship attain mutually beneficial position as a result of the sponsorship agreement.
Through the analysis of the information available it was determined that the value that is shared by the company and the sponsored party is usually the factor which is promoted and marketed through sponsorship programs in the event based sponsorships. This is one of the main reasons the corporations are motivated towards spending millions of dollars in sponsorships programs.
Other motivations that were ascertained through the research pertained to the increasing the positive image of the company, associating the company with a specific cause or event for mutual support and increase of marketing by association. Moreover the companies also sought a more cost effective and target market oriented channel for interaction with the customer and the prospective clients.
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