Marketing Mix

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Question :

You are the owner of a new sporting goods store in Anytown, U.S.A., and have purchased the rights to be the “official sporting goods supplier of local team”.  How will you BEST leverage your sponsorship to promote your organization to the Bowling Green community?  Tell me how you will use the marketing mix, as well as the promotions mix, to best maximize your sponsorship investment.

Answer

Sponsorship  marketing  is the fastest growing marketing strategy to promote your goods in your store. Suppose you are the official supplier of sporting goods to local team and would like to promote your organization to Bowling (Cascio, 2015)  It needs the best is you sponsor the sport event. The aim is to improve the quality of life in the area and conducts programs to improve the health and welfare programs. Many people are associated with it. Therefore ,you will be targeting larger audience. Your brand will be noticed much promptly and equated with better competitor. You will be considered better than your competitor. When you are  targeting  larger audience , there is likelihood the sale of your goods may increase much fold and results into financial gain .Earnings  may be much more than spent on the sponsorship. Your brand could be recognised in the international market.

By associating your sport brand with an event or venue, you target audience positively and perception of the audience and positive reaction to your brands takes place. It is the change in attitude of targeted audience which causes the increase in revenue.

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Promotion Mix

You can even sponsor venue of an event. Local sponsorship is effective in generating good relationship and community’s the economic growth. You create competitor differentiation (Hofstede, 2010). You can sponsor VIP seating, private reception and exclusive tickets. Leveraging  such expenditure will build relationship with key employees and top customers. Brand awareness through sponsorship is  increasing sales and creating positive publicity of the product.

Marketing Mix

Sponsorship can be of many types like arranging meeting room, conference bag, WiFi, display of banner, website branding, reception, registration , pre-event marketing , press release etc.

Marketing strategy should great impact on the targeted audience. On should keep in mind before sponsoring the targeted audience, how you achieve your goals and how much exposure your company has with connected people.

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