Facebook Pixel Code
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Racing, Finance and Sponsorship Essay Example

Show related essays

Racing, Finance and Sponsorship

This is a preview of the 10-page document
Read full text

Racing, Finance and Sponsorship. These businesses get the opportunity to reach out to the masses by sponsoring the events. Their logos or corporate names are advertised on the race route and along the street leading to the event venue. Besides helping them in raising the bottom-line of the business they are able to forge an alliance with the University members. By reaching out to the University students these companies also get the chance to fulfil their corporate social responsibility. So the sponsorship event enhances the market image of the companies and also helps them in establishing a philanthropic image in the society. Sponsorship is generally viewed as a ‘business relationship’ forged between a beneficiary and a sponsor i.

e. there is always a commercial angle to it. However by granting funds for the university car racing the company will be able to draw dual benefits. Firstly, it will create more awareness about the products and services offered by the company. This will get reflected in the form of rising sales figures. Secondly, the company will be able to fulfil its responsibility of a socially responsible entity. Past research has brought forth the “consumer effects of sponsorship”. It has been seen that the investment offered by the sponsor in any sports activity creates a good-will among the event attendees. This is said to influence their behaviour and attitude towards the brand. There are three levels at which the sponsor is able to generate good-will. First is the ‘generic level’ that relates to the feelings of the consumers at the engagement of the sponsors in an activity; second is the ‘category level’ that relates with a particular audience say sports or art and third is at individual activity level’ that relates to fans of a specific team. It has been seen that sports enthusiasts vouch on the sponsors lending support to their favourite team (Bowdin, et al., 2006, p.234). In the case of Formula Students also the sponsors will get the opportunity to build up a strategic alliance with the car racing team of the University. This will make their products popular both on and off the campus. The marketing strategy of most of the companies is designed towards attracting the youth. Racing, Finance and Sponsorship.

This is a preview of the 10-page document
Open full text
Close ✕
Tracy Smith Editor&Proofreader
Expert in: Finance & Accounting, E-Commerce, Management
Hire an Editor
Matt Hamilton Writer
Expert in: Finance & Accounting, Business, Marketing
Hire a Writer
preview essay on Racing, Finance and Sponsorship
WE CAN HELP TO FIND AN ESSAYDidn't find an essay?

Please type your essay title, choose your document type, enter your email and we send you essay samples

Contact Us