Media and Branding, Emergence of Media Technologies - Essay Example

The most vibrant and electrifying field of modern brand communication and promotion in the world today is sports sponsorship. Present approximations for the value of the sports sponsorship market differ in the way it is calculated and in reality, there is no one conclusive answer. One way of getting an understanding of how the global sports sponsorship market is developing is to take a glance at the eye-catching global sponsorship market growth statistics. Grounded on the most trustworthy and current figures printed by the International Events Group (2006), the global sponsorship market is projected to have grown by an inspiring 25% over the last three years. Plenty of this growth in sponsorship activity happens in North America and Europe and this may be attributed to growth in their advertising expenses (Lee, 2010).

Normally, it is mostly accepted that sports contribute to around 80% of the worldwide market. Roughly, the figures look remarkable. In 2005, sports sponsorship ordered $24.4 billion in spending. Putting into practice a growth rate of 10.8%, sports sponsorship is anticipated to top $ 33.8 billion at the end of 2006 and it looks forward to bringing down the $ 100 billion barrier by 2019. This is an overstated calculation since the actual value of sports sponsorship could be much higher. The reasons for this intense increase are of greater importance for a sports privileges holder and brand owner. These can be expounded by mentioning a combination of factors that include the globalization of brands, the significance of tracking consumer market behavior, the need to seek communication permission to contest for attention, and the results of technology to the consumer and market.

These factor compels transformation and forces brand owners to refurbish their brand communication and marketing undertakings. Brand owners must work on drawing the attention of the consumer (Lee, 2010). As a result, sponsorship is speedily turning into a platform that can help build trust. Even though this can be reinstated and preserved, brand communication and marketing undertakings will have an instant effect on the bottom line.

All fruitful trades and organizations have a strong strategy that helps to thrust the organization forward as well as reinforce its vision and distinguish what and how it functions. A sponsorship plan accomplishes a comparable function and one of the chief paybacks of having a sponsorship tactic is focus. A common reason for sponsorship to fail is often an absence of focus and the absence of quantifiable aims. The existence of a sponsorship plan goes some way to defend the sponsor and sports rights holder contrary to this form of failure. This is because, failure to attain aside-by-side of trust will lead to lower than anticipated financial yields on investment, and will negatively influence the efficiency of any yet-to-come brand communication and marketing undertakings. This may sound puzzling in itself – and it is. But it is just about to get rigid. Conventional insight in the West is that it takes many years and a lot of money to build a worldwide brand. This hypothesis is now being tested in two important respects. First, the global market is filled up with so-called high-speed brands that have come from nowhere to dominate the globe. Sports sponsorship makes available a powerful platform where the profitable and brand-building purposes of the brand owner can be realized too to achieve a return on its investment (Lee, 2010).

New media like the internet, mobile technologies, and PDAs have changed the nature of marketing resulting inthe booming of industries. Transmission sponsorship could be the yet to come of promotion on TV, based on statistics from industries. Nevertheless, what this supposition fails to recognize is the fact that viewers are now program rather than channel dependable. In other words, information is fundamental– whether conveyed on satellite, terrestrial TV, broadband internet radio and TVPDA,’s or any other form of digital media. Read More