Sports Funding and Sponsorship - Bendigo Spirit - Example

Sports Funding and Sponsorship Name Institution Name Course Name and Code Date Executive Summary Bendigo Spirit was established in 2007 and has a stadium that has a sitting capacity of more than 2,000 audiences. Bendigo Spirit also has numerous assets, which a sponsor can utilize to advertise. Some of the assets include the stadium, the different stationary, training and playing attire, and the physical structure of the stadium among others. A sponsor, based on the package determined, is offered to use these assets to market and engage the audiences. The sponsor will have a wider audience base and the corporate social responsibility of supporting a women team. It enables the sponsor to benefit from the diversity of women in sports and offering discounts and logos on the sponsor’s merchandise and services. The sponsorship proposal offers the sponsor numerous opportunities to present and advice the products. The proposal comes in three packages: Bronze Sponsor Package, Silver Sponsor Package, and Gold Sponsor Package. These packages come in different forms because of allocation of the assets and the strength of the sponsor in advancing the requirements of the team. The cost of the pages are $50,000, $75,000 and $100,000 respectively. The sponsorship can be in-kind or directly cash but depends on engagement with the sponsor. Effective communication and engagement are encouraged throughout the partnership to ensure the sponsorship strategy is successful. Cover Letter Dear Australia Post, We appreciate receiving the sponsor proposal because it offers great opportunities. Australia Post will have a marketing and advertising opportunity. In addition, accepting the proposal and choosing one of the numerous packages enables advancement of diversity and championing the requirements of marginalized people. Bendigo Spirit was established in 2007 and has a stadium with a sitting capacity of 2,000 audiences. Bendigo Spirit objectives and aims are to advance sports diversity and incorporate different stakeholders in appreciating the significance of women in sports. Accepting the sponsorship, you will be allowed to offer your logo and name on the training and playing kits. Based on the package, you will be allowed to put your logo on letterheads and utilize the Bendigo Spirit assets including the website and events to accomplish marketing requirements. You are required to choose a package, and you will work with a liaison team from Bendigo Spirit to determine the way forward and sustaining the partnership. Sincerely, VVVV General Secretary, Bendigo Spirit Table of Contents Executive Summary 2 Cover Letter 3 Sport Property 5 Target Markets 5 Promotional Plan 6 Communicate Benefits 7 Creative Leverage 7 Budget, Investment & Evaluation 8 Sponsorship Investment 8 Bendigo Spirit Support the Sponsor 8 Evaluation of the Partnership 9 Marketing Plan for the Property 9 SWOT Analysis 9 PEST Analysis 10 Competitor Analysis 10 Mission, Vision and Key Objectives 11 Description of the Bendigo Spirit’s Target Markets 11 Inventory of Assets 12 Bronze Sponsorship Package 12 Silver Sponsorship Package 12 Gold Sponsorship Medal 13 References 13 Sport Property Bendigo Spirit is among the Victorian basketball teams that participate in the Women’s National Basketball League. Bendigo Spirit was founded in 2007 and won the league in 2012/2013 season. The Bendigo Stadium hosts Bendigo Spirit home games. Bendigo Stadium is also an important location where international games are hosted, and the sitting capacity is more than 2,000 audiences (Basketball Australia, 2013). It is estimated that more than 149,000 audiences viewed the finals in 2012/2013, and there is an estimated annual increase of 30% of viewership. The goals and objectives of Bendigo Spirit are to champion the women sports and create an environment for development through the provision of appropriate resources and support (Basketball Australia, 2013). Since its inception in 2007, the audiences and supports have continued to increases, and due to the changing socioeconomic requirements, sponsorship is important to achieve the objectives and goals. The events held at the stadium and the sporting events are associated with the Women Championship, and these events attract different audiences. Target Markets The following are the Bendigo Spirit target markets, and the sponsor can benefit from capitalizing on these segments. Psychographic – the people visiting the facility requires important inspiration or outcome through the visit. The variables that plays an important role is lifestyles of consumers, interests, attitudes and personality traits (Alexandris, Tsaousi & James, 2007). Some people upholds diversity, and sponsorship utilization of such opportunity improves the overall image of the sponsor. Demographic – The children are the future supporters and targeting this group creates awareness and importance of the sporting event. The parents have the resources and can cultivate an environment in which the children are attracted to the event/sport and ensure the children becomes players or supporters of the team (Biscaia et al. 2013). The couples can use the sporting event as a pastime. The people come and watch how the ladies play and the conducive environment of the sport. Usage information – access to information influences consumer behavior (Cousens, Babiak & Bradish, 2006). Consumers seek information from different environments and utilization of the sports assets increases information exposure. An informed consumer can easily link the logos with the sports assets and activities (Biscaia et al. 2013). In addition, the sponsor can utilize the logos to market the products and services of the company. Hence, information can be provided to the consumers easily through the platform. Promotional Plan The promotional activities will be based on the sports property. It ranges from the use of the training and playing attires to signage within and outside the stadium. The sponsor is also allowed to provide discounts on merchandise through the names of the sports team (Tsiotsou & Alexandris, 2009). The sponsor’s name and logo will be offered to the sponsor to affix to the sponsor’s merchandise and services. In advancing the marketing requirements, the sponsor can utilize the social marketing and other online platforms to continue benefiting from the sport’s team assets. The sponsor and promotion will run between October and May, which is usually the period in which the games takes place. The aim is to target a sponsor and inform on the sponsor on the opportunity and the timeline of the plan (Mullin, Hardy & Sutton, 2014). The promotion of the sports team approach is continuous and will run throughout to engage the audiences and ensure the audiences become loyal to the team. Communicate Benefits The audiences of the sponsor are the general public while the values are encouraging diversity. The women basketball team is the appropriate platform because the sponsor will be allowed to utilize the different assets to engage the audiences (Biscaia et al. 2013). For example, the use of signage and names on the letterheads of the sports team are some of the marketing benefits that a sponsor benefit (Papadimitriou, Apostolopoulou & Dounis, 2008). The continuous engagement will also benefit the partners, resulting in a win-win situation. Therefore, the proposed structure and means of engagement will fulfill the strategic needs of the sponsors. However, the sponsor has to weigh among the three packages. The packages are classified as Bronze Sponsor Package, Silver Sponsor Package and Gold Sponsor Package. The content of these packages has unique benefits that fulfill the requirements of the sponsor (Biscaia et al. 2013). In determining the package, the sponsor is able to be informed of the benefits of the package and limitations of the package. In addition, a liaison team will be created to iron difference and present a clear information on a misunderstanding on the packages. Creative Leverage The needs of the sponsors are to engage the customers and other stakeholders on the importance of human rights and the need to improve diversity (Alexandris, Tsaousi & James, 2007). The sponsor seeks to advance the requirements of women believing women can do what men can do. Therefore, the basketball team is the right platform in which these aims and ideas can be implemented. For example, presenting their logos and names and utilizing the training and playing kits of the players improves their position in advancing the rights of the women. Hence, Bendigo Spirit provides the assets while the sponsor utilizes the assets to engage the targeted audiences/stakeholders. The aim of Bendigo Spirit is to receive the sponsorship while the aim of the sponsor is to be an integral entity in advancing the requirements of diversity including other marketing strategies. The frameworks of communication and clearly implementation of the proposed sponsorship and packages reduces chances of conflicts. Factors such as combat ambush marketing and other approaches will be avoided provided each partner fulfills its end of the bargain. Budget, Investment & Evaluation Sponsorship Investment As a sponsor, you can employ different strategies in fulfilling the sponsorship requirements. You are allowed to provide either in-kind promotional support or cash to support the requirements of the team. The sponsorship investment is grouped into three parts: Bronze Sponsor Package, Silver Sponsor Package and Gold Sponsor Package and the costs are a minimum of $50,000, $75,000, and $100,000 respectively. Bendigo Spirit Support the Sponsor Bendigo Spirit provides its assets and engages the sponsors on the utilization of the assets. For example, Bendigo Spirit provides the marketing and advertising opportunity (Irwin, Sutton & McCarthy, 2008). In addition, the sponsor would benefit through been linked with a women’s team meaning diversity is encouraged. Evaluation of the Partnership The effectiveness of the contract depends on the roles and responsibilities of each of the partners. The partners have to fulfill their tasks based on the content of the proposal (Biscaia et al. 2013). Conflict and misunderstanding can be corrected through effective communication in which the managers of both organizations can engage and iron out the differences (Alexandris, Tsaousi & James, 2007). In addition, a clear framework will be developed between the partners to guide in the implementation of the proposal. The effectiveness of the implementation depends on the financial or in-kind support while Bendigo Spirit role in ensuring the packages chosen by the sponsor and other assets are provided accordingly. Marketing Plan for the Property Bendigo Spirit aims to increase the number of spectators, audiences, and followers including supporters (Cousens, Babiak & Bradish, 2006). The following is a summary of the marketing campaign for Bendigo Spirit: SWOT Analysis The following is a summary of SWOT analysis Strengths Won the Championship League in 2012/2013 season It encourages diversity in sport because of championing a women league Strong managerial and leadership capacities Weaknesses The stadium is small compared with competitors stadium It has a short history because it was established in 2007 Opportunities Diversify the product offerings through including children sports Sponsoring events, that would generate awareness and revenues for the organization Threats Competitor from other sport organizations Alternative sporting events for women PEST Analysis The PEST brings into consideration the political, economic, social and technological aspects in determining the business environment of an organization. PEST Analysis Component Analysis Political The political environment in Australia is stable, and the regulatory and legislative frameworks support sports and sports diversity Economic Even though there were the economic challenges, the situation is changing and increase in disposal income means that more people can attend the games/events. Social The society is changing, and the needs of different segments are considered including women sports. The increase in a number of spectators also means Bendigo Spirit can receive more supporters and sponsors. Technological The technological advancement provides Bendigo Spirit with resources to engage the supporters and other stakeholders through communication. In addition, the technology is used to accomplish the payments measures. Competitor Analysis Competitor Competitor Analysis Dandenong Rangers It competes in Women’s National Basketball League and has won three championship cups. The team was established in 1992 and has an understanding of the business environment including the numerous awards the company has won. Melbourne Boomers The team was established in 1969, and it plays in the women basketball league. It has a sitting capacity of 3,200 and has won the championship once. However, the strength of the team is the long history. Townsville Fire It is the only professional team that operates in the northern part of Australia and was established in 2001. Townsville Fire stadium has a capacity of 2,500 spectators. Mission, Vision and Key Objectives The mission and vision of Bendigo Spirit are to become a leading sports entity in advancing the requirements of the female population and improving sports diversity. It achieves the aims and objectives through engaging the different stakeholders in determining the direction the sport’s organization and take, with clearly defined milestones. Description of the Bendigo Spirit’s Target Markets The following are the target markets: Children – the children are the future supporters and targeting this group creates awareness and importance of the sporting event (Alexandris, Tsaousi & James, 2007). Parents – the parents have the resources and can cultivate an environment in which the children are attracted to the event/sport and ensure the children becomes players or supporters of the team. Couples – the couples can use the sporting event as a pastime. Sports enthusiasts – the people come and watch how the ladies play and the conducive environment of the sport. Local and regional communities - these are the bedrock of the team since without the community, the team may not exist. Hence, engaging the community ensures Bendigo Spirit is viewed from a positive perspective. Inventory of Assets You will be an important member of Bendigo Spirit and through sponsoring the team, you will receive numerous opportunities through marketing activities (Smith, Graetz & Westerbeek, 2008). In addition, you will be invited to numerous functions and the management of the team will promote your business. The assets and offerings are grouped into three packages. Bronze Sponsorship Package Your logo and name will be placed on the website with a direct link to your business name. The sponsor section of the website targets the different sponsors of the team (Alexandris, Tsaousi & James, 2007) The logo of your company will appear in weekly and monthly newsletter You have the right to put up signage during four strategic games Your name and logo will appear on promotional flyers (Biscaia et al. 2013) Your name and logo will e included in the weekly date video which will be available on the Facebook, Twitter, YouTube, website and other social media platforms Your name will be announced during strategic events You will be given an appreciation certificate You will have the right to attach logo on approved or merchandise printed material Silver Sponsorship Package Your logo will appear on the Bendigo Spirit playing shorts Your logo will appear on the training singlet/shirt Your name and logo will appear on the Sponsor page on the website, and direct link to your business website will be included (Alexandris, Tsaousi & James, 2007) Your name and logo will appear in the weekly and monthly newsletter and documentations Your logo will also appear on numerous stationery including the letterhead Your logo and name will appear on Bendigo Spirit promotional flyers You will be allowed to offer free or discounted services and products to Bendigo Spirit members (Cousens, Babiak & Bradish, 2006) Your name and logo will be included in any communication through the online platform including on social media and website Opportunity to have a marque in four major last games Your name will be pounced during strategic games (Gwinner & Bennett, 2008) You will receive a team photo that is framed Reception of certificate of appreciation You have the right to use Bendigo Spirit logo on your products and services Gold Sponsorship Medal Your logo will appear on all attire including the playing and training attire Your name and logo will be placed in all documentations and communication documentations Bendigo Spirit will engage you in marketing and advertising strategy to improve your image (Wilson, Stavros & Westberg, 2008) You will be allowed to place different signage throughout the games Utilize the Bendigo Spirit logo in all your products and services You will be acknowledged during the sporting events and others events that Bendigo will participate In short, you will present your image on the assets of the company provide ethical, moral and regulatory, and policy requirements are upheld. Opportunity to have a marque in all the games References Alexandris, K., Tsaousi, E., & James, J. (2007). Predicting sponsorship outcomes from attitudinal constructs: The case of a professional basketball event. Sport Marketing Quarterly, 16(3), 130. Basketball Australia. (2013). Basketball Australia Annual Report 2012/2013. Retrieved from http://www.basketball.net.au/wp-content/uploads/2014/03/AnnualReport2013.pdf Biscaia, R., Correia, A., Rosado, A. F., Ross, S., & Maroco, J. (2013). Sport sponsorship: The relationship between team loyalty, sponsorship awareness, attitude toward the sponsor, and purchase intentions. Journal of Sport Management, 27, 288-302. Cousens, L., Babiak, K., & Bradish, C. L. (2006). Beyond sponsorship: Re-framing corporate-sport relationships. Sport Management Review, 9(1), 1-23. Gwinner, K., & Bennett, G. (2008). The impact of brand cohesiveness and sport identification on brand fit in a sponsorship context. Journal of Sport Management, 22(4), 410-426. Irwin, R. L., Sutton, W. A., & McCarthy, L. M. (2008). Sport promotion and sales management. London: Human Kinetics. Mullin, B. J., Hardy, S., & Sutton, W. (2014). Sport marketing 4th edition. Human Kinetics. Papadimitriou, D., Apostolopoulou, A., & Dounis, T. (2008). Event sponsorship as a value creating strategy for brands. Journal of Product & Brand Management, 17(4), 212-222. Smith, A., Graetz, B., & Westerbeek, H. (2008). Sport sponsorship, team support and purchase intentions. Journal of Marketing Communications, 14(5), 387-404. Tsiotsou, R., & Alexandris, K. (2009). Delineating the outcomes of sponsorship: sponsor image, word of mouth, and purchase intentions. International Journal of Retail & Distribution Management, 37(4), 358-369. Wilson, B., Stavros, C., & Westberg, K. (2008). Player transgressions and the management of the sport sponsor relationship. Public Relations Review, 34(2), 99-107. Read More