Sponsorship

Definition of Sponsorship

A business relationship where one party provides support, usually financial, in exchange for promotional opportunities.

Explanation of Sponsorship

Sponsorship is a marketing strategy where a company supports an event, organization, or individual financially or through in-kind contributions in exchange for brand exposure and promotional benefits. This partnership helps the sponsor increase brand visibility, reach target audiences, and enhance its image. For example, a sports apparel company might sponsor a major sporting event, providing uniforms and equipment in return for logo placement and advertising opportunities. Sponsorships can take various forms, such as sponsoring sports teams, cultural events, charity initiatives, or influencers. They provide a platform for businesses to connect with audiences in a positive and engaging context. Effective sponsorship requires aligning with the right partners, understanding audience demographics, and measuring the impact of the sponsorship. By investing in sponsorships, companies can boost brand awareness, build credibility, and create lasting associations with desirable attributes and causes.

This dictionary entry was written by

Per-Gulbrand Peter Braathen

With a foundation in doctoral-level research, Per-Gulbrand Peter Braathen is a seasoned expert in the areas of marketing, branding and communication. His proficiency extends to marketing management, branding and communication strategy. Braathen's experience is underscored by his rich background from various industries, including entertainment. A distinguished alumnus of the USC Marshall School of Business, Braathen boasts a Master of Science in Marketing, complemented by a Graduate Certificate in the Business of Entertainment from the USC School of Cinematic Arts as well as two undergraduate Bachelor degrees from the esteemed University of Southern California.