Sponsorship, Corporate Partnerships, and the Role of Activation

A collection of vocabulary flashcards based on Chapter 10's key concepts related to sponsorship and corporate partnerships.

Sponsorship

A triangular business relationship involving a sponsored property, corporate entity, and consumers, where the corporate entity invests in an activity for commercial potential.

Activation

The marketing activities conducted by a company to promote its sponsorship, creating interactive platforms for brand engagement.

Corporate Sponsorship

An investment by a company in cash or in-kind in an activity, in return for access to its commercial potential.

Exclusivity

The right granted to a sponsor to be the only brand in a product category associated with a sport property, enhancing brand differentiation.

Promotional Licensing

An umbrella term that includes corporate sponsorship but refers to the acquisition of rights to directly associate with a product, person, or event.

Market Segmentation

The process of identifying and targeting specific groups based on demographic or psychographic differences for more effective marketing.

Goodwill

The positive sentiment consumers develop toward brands that support their favorite sports or activities, stemming from emotional connections.

Return on Investment (ROI)

A measure used to evaluate the effectiveness of sponsorship by examining the financial returns against the costs incurred.

Lifestyle Marketing

A strategy that creates products, services, and promotions based on the recurrent patterns of attitudes and activities of a specific group.

Corporate Objectives

Goals that guide decision-making in marketing, often overlapping in sponsorship, including brand awareness, image enhancement, and sales.

Media Benefits

Advertising and publicity derived from sponsorship, typically evaluated by the number of impressions it generates across various media.

Entitlement or Naming Rights

A sponsorship element where a corporation pays for the right to have its name associated with a venue or event.

Athlete Endorsement

A marketing strategy where individual athletes are sponsored to promote products, leveraging their credibility and audience reach.

Social Media Activation

Leveraging social media platforms to engage audiences and enhance brand presence in sponsorship activation efforts.

Community Relations

Efforts by a company to demonstrate concern for local communities, often through sponsorship of community-focused events.

Promotional Activities

Tactics used by sponsors in conjunction with their sponsorship agreements, including contests, advertising campaigns, and sales promotions.

Hospitality

Special arrangements made within sponsorship to provide sponsors with exclusive access or experiences at events.