kobejacobs1125

[kobejacobs1125]

Entry 6

Reflection on the subject including your sponsorship knowledge development and new insights, your engagement with your club and project team, and your presentation experience

After completing the sports sponsorship subject, it is clear to understand why there have been more investment in this area of sport. The creative strategies that some companies come up with in order to promote their brand through and sports team or product is just incredible. In terms of knowledge, it was interesting to learn about the strategies that are involved within the concept of sponsorship. It is simply more than a deal between two parties, rather it is how both can utilise each other’s platforms to generate maximum engagement, bringing more money to both organisations.

https://insidersport.com/2021/03/26/european-sports-sponsorship-dips-9-in-2020-as-football-comes-out-on-top/

Not only is sponsorship important for professional sporting teams, but it is also clinical for teams competing at the local level. Nicholas (2009) implies the notion that “sponsorship has the ability to elevate a corporate brand above the advertising noise that exists in the consumer environment and connect the corporate brand to an event or entity with which a group of consumers identify” (p.348). Having worked with Preston for two years, the club had indicated that they wanted to increase their brand equity by holding social events open to the public. Working hand in hand with Sam and Kim Fisher, as well as my group to produce content that targeted the Bullants’ community was enjoyable.

https://www.vafa.com.au/preston-bullants-farewell-champion-coach/

When presenting, the sponsorship proposal tailored for a local boxing gym near Preston named Northside, it was crucial to try and make a link between each organisation’s certain goals and aspirations. This demonstrated to both parties that they are an ideal fit for one another, hence showing that the sponsorship deal between the two would be successful. In terms of the actual presentation, it was much easier to present online, as the individual was in control of their slides and were able to pace the presentation to their liking. It would have been nice however to present to the club in person, allowing for more engagement.    

https://nsbg.com.au/

Referencing:

Nicholas, A. (2009). Defining brand values through sponsorship. International journal of retail & distribution management, 37(4), 346-357. https://www.proquest.com/docview/210910675/fulltextPDF/B49578995E0C47EAPQ/1?accountid=132066

[kobejacobs1125]

Entry 5

The principles of leveraging and co-activation in sponsorship form part of the back end of the sports sponsorship process. Related to the consumer, reviewing and further improving these two principles will ensure that your brand will grow and transition into getting more engagement from the consumer. Knowing the pure entertainment live sports brings to the invested fan, mixed with modern technology offers sporting organisations many avenues to push their brand to the sports world and general public.

https://www.statsperform.com/resource/impact-of-live-streaming-on-sports-broadcasts/

Although a growing area of the sports industry, “research on leverage and activation of sponsorship is an underexplored area in academia, one that is still in its infancy in the event management and sport marketing literature" (Ballouli et al., 2018, p. 123). Leveraging in sponsorship is based around the sponsor itself, and how they can achieve their goals. Co-activation is similar to the aim in leveraging, as the audience and sponsors’ goals come together to achieve common goals. Both of the principles indicate the extreme detail that is comprised of an average sponsorship process review. If sponsors and businesses want to improve their overall operations, they must satisfy their consumers to grow.

In the sports world, leveraging can come in a lot of forms. One is online promotion. A sports team promotes their merchandise at a sustainable price. And the same can be applied to that sports team’s mobile app, which can also promote certain events or products. O’Reilly and Lafrance (2013) Horning state how co-activation “refers to the investment by the sponsor above and beyond the fee required to acquire the official rights to that sponsorship” (p.426). An example of this is when events cross over with one another. In America, when the Formula 1 race is held in Austin, there is also the Austin Fan Fest which coincides with the dates of the racing event.

Referencing:

Ballouli, K., Koesters, T., & Hall, T. (2018). Leverage and Activation of Sport Sponsorship Through Music Festivals. Event management, 22(2), 123-133.

https://web-s-ebscohost-com.ezproxy.holmesglen.edu.au/ehost/pdfviewer/pdfviewer?vid=1&sid=f82790ea-1853-4cf6-b345-53c6f3a59ec6%40redis

 O’Reilly, N., & Lafrance Horning, D. (2013). Leveraging sponsorship: The activation ratio. Sport management review, 16(4), 424-437.

https://doi-org.ezproxy.holmesglen.edu.au/10.1016/j.smr.2013.01.001

[kobejacobs1125]

Entry 4

Understanding the importance of congruence (and incongruence) with real world examples

 Congruence in sponsorship is a major factor to consider for sporting organisations looking to get in partnership with businesses. Being able to blend the balance between the target audience, the goals and the attributes of the sporting organisation will sufficiently create a successful relationship. In today’s sports market, being able to attract a specific sponsor to your business is harder than ever. Due to the condensed market space of sport, it is your brand competing against others’ to secure the signature of a business. Therefore, congruency is a tool that sporting organisations can use to try and connect with a business of their choosing through sharing similar values.

 Delvin and Billings (2018) state that “sport sponsorship congruency is operationalized as a semantic relationship that many consumers should be able to recognize between a brand and the event they are sponsoring” (p. 60). Involved in targeting consumers, shaping an idea or picture in their heads to help them process thoughts regarding a particular brand can be affected by businesses showing congruence. Businesses need to ensure that they are targeting their fans through sharing similar values, allowing for an emotional connection to be established between the two.

An example of a real-world sporting example of congruence is the famous sporting brand Puma and Usain Bolt. To many, Puma is what they perceive to be one of the more successful sporting brands. Digging deeper into this ideology, linking the athletic attribute in speed with Puma and Usain Bolt, forges the idea that the sporting based brand has a supreme congruent fit with the famous Jamaican runner. As opposed to this, a form of incongruence is betting agencies working with sporting leagues and the clubs comprised in them. The same applies to beer companies in partnership with key stakeholders in sport. Gambling and alcohol consumption are factors that are associated with sport, however, are a negative influence on those who choose to undertake these activities within the sports industry.

Referencing:

 Delvin, M., & Billings A.C. (2018). Examining confirmation biases: implications of sponsor congruency. International journal sports marketing & sponsorship, 19(1), 58-73.

https://www.proquest.com/docview/2001398099/fulltextPDF/17401588446B496FPQ/1?accountid=132066

[kobejacobs1125]

Entry 3

Reflections on the A3 Asset Inventory project including your contribution and how an asset inventory can assist a sports organisation in managing their sponsorship assets.

Initially, conducting an asset inventory list for the Preston Bullants seemed tricky. However, after looking back at previous assessments completed with the club as well as some further research, creating their tailored list wasn’t too difficult. Having Preston’s annual reports from the past three years assisted in providing the basic details comprised in the sponsorship snapshot. One of the more challenging components in this assignment was trying to determine an appropriate price for an individual asset. Looking up certain prices for an asset was an avenue to go down, yet sometimes you were left forging your price based on pure assumption.  

https://www.vertex42.com/ExcelTemplates/asset-tracking-software.html

My contribution in this assessment was based on the event section of the asset inventory. Bruhn and Holzer (2015) mention how that consumers understand how sponsors use events as a means for generating sufficient profit. And profit must be achieved for those hosting events, knowing that paying for occasions as such can be extremely expensive. For example, Preston has numerous events they hold throughout the football calendar, one being their end of year celebration. Held at one of their major sponsors’ locations in the Stone Hotel, through research it was made aware that an event like this can cost up to anywhere around the two thousand dollar mark.

Therefore knowing how pricey individual assets can be, all sports organisations much complete inventory lists, which will ultimately assist in the management of the clubs’ money. If detailed enough, the list can thoroughly and accurately pinpoint how valuable an asset is to the sporting organisation. In general, finding out the true value of a sponsorship tool can further assist those who actively look to become more aware of the costs in the sports marketing area (Kot, 2017). Those willing to do the planning and research of figuring out the prices in sponsorship will reap the rewards in sustaining a good amount of money for their sports club.

Referencing:

Bruhn, M., & Holzer, M. (2015). The role of the fit construct and sponsorship portfolio size for event sponsorship success: A field study. European journal of marketing, 49(5-6), 874-893.  https://www.proquest.com/docview/2085638836?OpenUrlRefId=info:xri/sid:primo&accountid=132066

 Kot, S. (2017). Real Value of Advertising Value Equivalent in Sport Sponsorship. International review of management and marketing, 7(1), 34-42. https://www.proquest.com/docview/1865226860?pq-origsite=primo&accountid=132066

[kobejacobs1125]

Entry 2

The importance of providing real tangible (and intangible) sponsorship benefits and a review of your club’s sponsorship packages / proposal.

The importance of providing both tangible and intangible sponsorship benefits to a potential sponsor should be a priority to those trying to find new sponsors. When the time comes in searching for a new sponsor, creating an asset inventory list is essential to complete. Carrillant and Grohs (2019) state how “announcements of new sponsorships are often made in sponsor change context – that is, when a firms steps down from its role as sponsor and is replaced by another firm” (p. 2482). As the switching of sponsors can become a common theme for businesses and sporting organisations, having a list of assets on the ready would be of benefit. With this, being able to clearly distinguish between tangible and intangible sponsorship benefits should be clearly communicated to sponsors.

https://www.educba.com/tangible-vs-intangible/ 

“Firms engaging in sponsorship activities are expecting to see sport consumers having the same positive feelings regarding sponsorship brand as they have toward their team, and sport consumers tend to have favourable attitudes toward the sponsor if they believe that the sponsorship is important to the team” (Biscaia et al., 2013, p. 291). Regardless of the level of professionalism, sporting organisations need to establish relationships with sponsors which is to likely please their fans and members. This would create an environment where the organisation, sponsor and members are all comfortable with one another. It is important however that both the sponsor and organisation reiterate how each will benefit each other’s respective operations.

The Preston Bullants’ major sponsorship packages are in a steady-state. Before the Coronavirus, the club had deals in place to host events at both the Stone Hotel and Welcome to Thornbury locations. Being tangible assets, it was encouraged that members of the Bullants attend both these venues, allowing for both sponsors to gain more exposure and revenue.

The Chemist Warehouse also has a deal in place with Preston. This has seen the two parties mutually agree for the pharmacy to have more advertising around Preston’s home ground. Their relationship with new sponsor Marco Fine Foods, a local grocer, seems to be a partnership that will last in years to come. Overall, the Preston Bullants do a sufficient job in promoting their sponsors by word of mouth, and also online via their social media pages. By promoting such sponsors’ assets, Preston has shown that sponsorship can be “proven to be a very successful communication channel in order to build a loyal consumer base, especially in the field of sport” (Melovic et al., 2019, p. 2).  

If Preston were to continue with this form of adequate exposure, it would most definitely improve the connections they have with their fans, members and sponsors.  

Referencing:

 Biscaia, R., Correia, A., Rosado, A.F., Ross, S., & Maroco, J. (2013). Sport Sponsorship: The Relationship Between Team Loyalty, Sponsorship Awareness, Attitude Toward the Sponsor, and Purchase Intentions. Journal of sport management, 27(4), 288-302. https://web-b-ebscohost-com.ezproxy.holmesglen.edu.au/ehost/pdfviewer/pdfviewer?vid=1&sid=746cb36a-8a6d-48c7-bcb9-67bcb96f27f0%40pdc-v-sessmgr01

 Carrillant, A.F., & Grohs, R. (2019). Can replacing a sponsor benefit?: Consumer responses toward a new sponsor in the context of a sponsorship change. European journal of marketing, 53(12), 2481-2500. https://www-proquest-com.ezproxy.holmesglen.edu.au/docview/2316345376?OpenUrlRefId=info:xri/sid:primo&accountid=132066

 Melovic, B., Rogic, S., Cerovic- Smolovic, J., Dudic, B., & Gregus, M. (2019). The Impact of Sport Sponsorship Perceptions and Attitudes on Purchasing Decision of Fans as Consumers- Relevance for Promotion of Corporate Social Responsibility and Sustainable Practices. Sustainability (Basel, Switzerland), 11(22), 1-16. https://www-proquest-com.ezproxy.holmesglen.edu.au/docview/2533373453/fulltextPDF/F4FB0D9FA1FE486APQ/1?accountid=132066

[kobejacobs1125]

Entry 1

The increasing importance of sponsorship with regards to the business of sport and the sponsorship framework

Sponsorship should be a priority for all sporting organisations around the globe to excel in. It can provide many benefits to both a sporting organisation and the businesses that form partnerships with sports teams. Sport, sponsorship and a business can establish a remarkable relationship. Being able to provide all three parties with an adequate source of revenue, all three parties need to understand important factors like the exchange theory. According to Morgan et al. (2014) “contemporary sponsorship has recently been recognised as a “co-marketing alliance” or “strategic partnership” between organisations” (p. 271).

https://blog.winnersfdd.com/changing-the-sponsorship-dialogue-winners-framework-to-help-you-sell-more-sponsorships-for-more-money/

 A sporting sponsorship partnership needs clear clarification from both the business and sporting organisations to work. These two parties need to comprehend what each wants from one another to ensure they are establishing a solid relationship. About the business side of the sport, sponsorship “addresses the role of sports and integrated marketing communication strategies; deal-making between clients and agencies; and the convergence of sport properties and sport media” (Lee, 2014, p. 379). All these sponsorship-related factors display the many processes that are undertaken to satisfy parts of what is the marketing/sponsorship sporting industry.

In terms of the sponsorship framework, detailed research and planning need to be undertaken to aid the relationship between the business and the sports team. It helps when the two organisations share similar values. This can help develop a strategy that will satisfy the needs of both parties. Understanding the ‘sponsorship process’ and ‘exchange theory’ is a crucial way for a sponsor and organisation to connect with new consumers and audiences. This sense of getting new exposure seems to be what organisations crave within the modern marketing world. And do you blame them?  Social media and the internet are providing connectivity to millions around the planet. It would be silly for sponsors and organisations to not utilise each other’s respected businesses. Knowing the benefits they can provide to one another should be coherent on both sides.

Referencing:

Lee, J. W. (2014). Beyond the Scoreboard: An Insider’s Guide to the Business of Sport. Journal of sport management, 28(3), 378-379. https://web-b-ebscohost-com.ezproxy.holmesglen.edu.au/ehost/pdfviewer/pdfviewer?vid=2&sid=d2174ac1-032c-412f-a753-43c82c2b636e%40pdc-v-sessmgr03

 Morgan, A., Adair, D., Taylor, T., & Hermans, A. (2014). Sport sponsorship alliances: relationship management for shared value. Sport, business and management, 4(4), 270-283. http://dx.doi.org.ezproxy.holmesglen.edu.au/10.1108/SBM-12-2013-0044