Definition
Sponsorship is a cash and/or in-kind fee paid to a property (typically in sports, arts, entertainment or causes) in return for access to the exploitable commercial potential associated with that property, according to IEG.
While the sponsoree (property being sponsored) may be nonprofit, unlike philanthropy, sponsorship is done with the expectation of a commercial return.
While sponsorship can deliver increased awareness, brand building and propensity to purchase, it is different to advertising. Unlike advertising, sponsorship can not communicate specific product attributes. Nor can it stand alone. Sponsorship requires support elements. And, while advertising messages are controlled by the advertiser, sponsors do not control the message that is communicated. Consumers decide what a sponsorship means.
Read more about this topic: Sponsorships
Famous quotes containing the word definition:
“It is very hard to give a just definition of love. The most we can say of it is this: that in the soul, it is a desire to rule; in the spirit, it is a sympathy; and in the body, it is but a hidden and subtle desire to possess—after many mysteries—what one loves.”
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