Why Sport Sponsorship is important for a company marketing strategy Dissertation

Why Sport Sponsorship is important for a company marketing strategy - Dissertation Example In addition to this, the research work also aims at understanding the influence of sports sponsorship on target audience. In this study, the researcher has selected a mixed research approach for this study, which includes both qualitative and quantitative research approaches. Following this approach, the study includes interview with manager of Nike and survey of Manchester United fans. The interview responses are analyzed on the basis of thematic analysis approach, whereas responses from survey are analysed statistically, which include descriptive and regression analysis of the responses. The study has concluded that sports sponsorship has a significant importance for business entities, particularly Nike, which has been considered in this study. The findings of the study have concluded marketers regard sponsorship as a significant marketing tool. In addition to this, an overall positive impact of sports sponsorship of Nike has been observed on its brand identity. In today’s b usiness world, marketers are in continuous search of new avenues which can be used to promote their products and services and therefore gain new customer bases or retain existing ones (Kotler & Armstrong, 2008; Farris et al., 2010). Sports sponsorship is a modern marketing tool, which is nowadays used extensively by a number of large business enterprises (Ferrand et al., 2007). Sports are today regarded as global events and when bearing sponsors they possess the potential to promote brands all over the world. Sponsorship is often viewed as an entirely different activity in comparison with promotion. This difference in viewing these two mediums of marketing is based on the fact that promotions are considered and used as a direct marketing tool which targets specific customer bases, whereas sponsorships are regarded as part of a company’s corporate social responsibility activities. As for instance, in sporting events sponsors pay significant amounts of money to help organizers to successfully arrange the event and entertain general public (Boyle & Haynes, 2009). However, notwithstanding the direct and indirect nature of promotions and sponsorships, corporate entities are always keen to gain from anything they do. Keeping aside the less direct nature of sponsorship, the underlying objectives are purely based on marketing principles. Building brand’s identity, equity, awareness, values, etc. is all what marketers seek through any channel of marketing (Ferrand et al., 2007). Moreover, with fierce competition all over the globe and increase in globalization and its effects, marketers have turned sports sponsorship activities into large scale marketing campaigns (Boyle & Haynes, 2009). 1.2. Research Aim The broad aim of this research work is to determine the