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Essay / Sponsoring: a new marketing strategy - 1292
For many years, sponsorship and sports marketing have existed and have now been greatly improved. Organizers of large events can hardly expect to receive funds without hoping to give something in return. A few years ago, sponsorship might be seen as more charitable or charitable, but in recent years this has changed significantly. In the world of business, every successful business is based on two fundamental principles: the first is a market and the second is the demand or customers in that market. These two things at least will support any new business these days. Many fundamentals will come later in this way like market research, location, products, price, promotions and bundles which further improve any type of business for higher points. Advertising and sponsorship are the main ways to increase awareness of a service or product around the world. The two companies I'm going to talk about are two market leading companies, one is an Emirates airline and the other is Red Bull, the leading energy drink company. Both companies participate in sponsorship and support a large number of team members in many sports areas, and achieve many marketing successes through this strategy. In this essay I will focus on sponsorship and how it is identified as a strategic marketing opportunity through the sponsored event, financial gains from sponsorship or losses, gaps in marketing research between companies in choosing the right time, place and by whom. sponsor in relation to subsequent profitability, also the evaluation of traditional and digital media for the sponsored event, and the evaluation of the fit between the sponsor and the sponsored event. All this through the middle of paper...... sponsorship as well as market, and they provided us with many products and services years ago, and one of their main revenue strategies was from their sponsorships. Works Cited Reed, C. (2013). Is Emirates' sports sponsorship strategy working? Retrieved May 13, 2014 from http://wallblog.co.uk/2013/10/22/does-the-emirates-sport-sponsorship-strategy-fly/Sylt, C. (2014). Revealed: Red Bull's $1.2 billion bet on Formula 1. Accessed May 13, 2014, from http://www.forbes.com/sites/csylt/2014/04/03/revealed-red-bulls -1-2-billion-bet-on-formula-one/Long, M. (2010). Boutros Boutros leads Emirates' sponsorship strategy. Retrieved May 14, 2014 from http://www.sportspromedia.com/quick_fire_questions/boutros_boutros_steers_emirates_sponsorship_strategy/http://amandacobb.co.uk/2013/02/red-bull-sponsorship-and-endorsements/ (accessed May 15 2014)