REASONS FOR SPONSORING AND BENEFITS OF SPONSORING.

It promotes peace and unity through interactions e.g. sports
It creates employment opportunity.
It advances interest of some activities e.g. sports due to the benefits the participants get.
Provide educational opportunities to the less fortunate in the community e.g. Equity wings to fly.
It facilitates undertakings of events which are very expensive.
To advertise the company/organization-The advert is made through displaying the company name and product within the area where sponsored event is taking place e.g. through hanging banners and posters.
To assist the marketing policy-when a sponsor gives financial support to something that interest potential customers and the company, it brings greater impact on marketing by them complementing marketing objectives.
To show a sense of social responsibility-Through giving support it shows the degree of concern to wellbeing of community and nation at large hence good citizenship that promote growth of the nation.
TO create good corporate image, respect and good will.
Creating awareness of organization and its products.

Before giving financial or material support a sponsor should;

Be certain of the objectives that one want to achieve after sponsoring e.g. increase in sales, creating awareness, promoting corporate image etc.
Choose the best area of sponsorship which best satisfies the set objectives.

Be aware of total cost i.e. the finances that will be used in sponsorship and the expected benefits.

Ensure the programme being sponsored is legal and comply with the law.
Consider financial position of the organization in order to facilitate smooth operation.

Sports-Most organizations sponsor sports because it attracts media coverage and have high population of listeners and viewers which offers a good platform for marketing.
Education-involves bursaries, scholarship and other education to those who are financially challenged and facilitating further studies to best performers.
Charitable organizations-include financial aids to orphans and disabled to help meet their basic needs and other necessities.
Awards-its motivational awards made to best performers e.g. musicians, best performing banks, athletes
Local events-includes supporting local events that will bring growth and development in community in addition to creating good relationship.
Tradeshow, agricultural show which aim at creating awareness of products and services in the market, their dynamics, cost, etc.

(Visited 126 times, 1 visits today)