Sponsorships for events have dramatically grown since the 70s. The trend that has been observed pertaining to corporate sponsorships for special events depicts that corporate sponsorship specifically for celebratory events has been increasing exponentially. From 1983 to 1988 the corporate sponsorship for special events stood at $1.75 billion and by 1989 it was predicted to be at $2 billion. (Katayama, 1989) The statistics now however since then have significantly changed as corporations aim for diverse and unique ways of marketing themselves.
The sponsorship option for sports and special events as a result provide them with a profitable channel of exposing the corporation and marketing it to the prospective customers and the target market. Special events are increasingly being supported by large sponsors and association which back the organization and monitor the regulation of the events. These events can relate to sport related, entertainment, community service, and recreational as well as specific cause related events. “The phenomenal growth of special-event sponsorship in recent years as a sales promotion tool is evident by the increase in the number of companies and their expenditures for sponsoring such events.
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