The benefits that are achieved by the corporation as a result of their association with the sponsored parties and their sponsoring activities pertaining to investment of millions of dollars pertain to public goodwill and improved reputation of the company. “There are the obvious gains in public recognition and awareness made through having your company’s name and logo on the event’s promotional literature, program and media advertising.
A sponsor can expand on this awareness by taking out an ad in the event’s program magazine, if it has one. It may even have the opportunity to display or promote its products at the event itself.” (Cogill, 1991) Aside from this they are able to provide generous aid to the deserving parties. The event based sponsorship also results in the tax cuts for the company in the amount they donate or invest in sponsorship for public service and cause related associations and institutions. This is much better for the organization as better reputation and image is earned by the company which would not have been the case if the company was paying the same amount of money and funds to the government in the form of taxes. “Companies realize that, in sponsorship, the interests of business and of society overlap. Historically, the objectives of sponsorship revolved around community assistance and giving back to the communities supporting the organizations. Increasingly, however, trade publications and academic journals are stressing the marketing benefits of sponsorship and the possibility of using it to replace other communications methods for some firms. (Rhonda, 1999)
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