Event management has developed to be a major trade. Due to the size, scope and complexity of events, the services of event manages are required. Although the main role of an event management is to plan and coordinate an event, they also manage the commercial aspect of the event. For an event to be successful, funding is required. Sponsorship is the main source of funding for an event. Before sponsorship, both the event manager and sponsors evaluate the benefits to be derived from the sponsorship. Despite this, it is the responsibility of the event manager to ensure harmonious sponsorship.
The sponsorship should take into consideration the continuous funding of the event and the value and goals that should be met. Commercialisations of events have led to the compromise of values in event managements and have led to failure in some events. The project proposal aims at evaluating the challenges faced by event managers in handling sponsorship. It also aims at coming up with better strategies to improve sponsorship. Event management: Finance and Marketing: Event Sponsorship Working Topic: An analysis of event sponsorship Rationale for the study Case Event management is a task that has a long history.
Today, various events are held. The events range from games, festivals, concerts, meetings to political rallies. Up to these days, events remain an important part of people’s culture and help social development of people. For their success, these events need to be managed. In managing events, sponsorship is very important. It should be noted that managing events is expensive and needs funds. Sponsorship of an event is not just as way of raising funds for the events, but it also entails marketing.
The finding of sponsors, choice of sponsors and managing marketing and commercials should be an integral part of event management. Management problem Sponsors are important in event management. Good management of sponsors is lacking in event management. It should be noted that events are very important elements to people’s culture. A successful event should send the required message or meet the desired goals (Allen, Bowdin, 2006, pp123). It should be noted that there are different categories of sponsors. Some sponsors are not motivated by business while others are motivated by business and aim at marketing their products.
In managing sponsors, some event management conflict over the amount allocated to a certain sponsor and the recognition of the sponsor as a sponsor to an event.
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