Definition Of Corporate Sponsorship
Corporate Sponsorship is when an organization intends to boost its image by partner with something that pulls in a large audience. An example could be a sporting event.
Breaking Down Corporate Sponsorship
At first, it seems like this term is related to brand sponsorship Nevertheless, when we refer to a corporation, we are talking about the scenario in which it’s the name of the latter to gain visibility. The same corporation can then own different individual brands or subsidiaries, all having their separate sponsoring activities.
An example of corp. sponsorship is when P&G, in 2013, decided to endorse 12 Canadian Olympic and Paralympic athletes. P&G has a consolidated CSR tradition. Corporate sponsorship is part of it, and its goals largely differ from the ones pursued by consumer brands.
Another examples comes from Anheuser-Bush, owner of global brands such as Budweiser. In response to the NFL players’ protest against Donald Trump in September 2017, the corporation – as official sponsor of the league – stepped up to be in touch with its customers. They activated a hotline to receive feedback. The goal was to prevent any backlash from those people who disagreed with the protest. At the same time, they wanted to re-affirm their principles of inclusion and freedom.
In summary, corporate sponsorship initiatives have various goals. These can go from raising awareness to achieving CSR objectives. Also, such projects tend to target other kinds of stakeholders, such as investors, employees, political institutions etc.
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