Topic 1 Sponsorship

Sponsorships are the financial or in-kind support of activities. Businesses often sponsor events, trade shows, groups, or charity causes to reach specific business goals and increase their competitive advantage.

Though sponsorship is a form of marketing, it is different from advertising, which attempts to persuade customers to make purchases by sharing specific messages about a product or company.

Sponsorships, on the other hand, don’t directly promote your company or products. Instead, your company pays to support a specific event that your customers care about. Your business is then associated with the event by customers, attendees, and the media. (Friedman, 2017)