Previously the mass media of communication and traditional strategies of marketing i.e. above the line based promotional strategies were used to establish the image of the company and its association.
However for brands as well as companies, this became a hard task as the consumers became more aware, stared getting more choice and options. In such a market the corporations required an effective channel for reaching out which took the form of corporate sponsorships. “What marketers want is unique and individual, say experts. Goals might include getting a certain number of leads, holding discussions with top buyers, or making a splash as a new player in the industry. “If everyone has an exhibit booth, some are asking, ‘How can I get beyond that?’ ” says Vinu “Joe” Joseph, senior project director of Chicago-based IEG Sponsorship Services, a firm with both sponsor and seller clients. A vendor that provides business services, for instance, may want to position itself as a provider of solutions, or as a partner who is there to support the growth of the profession.” (Barker, 2007)
The large companies like Coca Cola, Wal-Mart, Marks and Spencer, Exxon Mobil, General Electric and other large corporation and conglomerates invest millions of dollars in sponsorship for special and cause related events. Their motivation is mostly to reduce their tax level as well as to establish themselves as socially responsible corporate citizens. “Almost every major company and many associations now give to good causes, and PR can help management to get more benefit from sponsorships by guiding management to projects that will produce massive national or worldwide media coverage and the most heartfelt public gratitude.” (Levy, 2004)
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