Issues in International Event Management Essay Example | Topics and Well Written Essays - 2000 words

Issues in International Event Management - probe ExampleCorporate sponsorship raft likewise be defined as a part of throw marketing where organsiations try to create and enhance the good ordain a keen-sighted with boosting the overall revenue structure. Corporate sponsorship can be considered as a nice medium through which small and medium organisations increase their visibility and public profile in an effective and efficient manner (Barr, 1993). It needs to be mentioned that corporate sponsorships argon meant to enhance the overall appeal and image of organsiations. Corporate sponsorships help in differentiating organsiations from competitors along with developing and enhancing adjacent relationships with existing and potential customers. It also offers a chance to highlight the products and services of the organsiation along with getting relieve of the obsolete inventories through distributing it as a part of the reward and award strategy (Brynes, 1994). There is no denying that advertising enhances the appeal and bear upon of an organsiation by impacting and influencing the buying behaviour of customers. However, corporate sponsorship is an ideal way of competing with abundant organsiations having larger advertising budgets. In addition to this, tickets for sponsoring progenys can be used as an incentive for suppliers, customers, employees and early(a) stakeholders that will not only help in enhancing the overall relationship but also earning their dedication and gratitude that is always beneficial to survive in the competitive business environment. The discussion aims at highlighting the subroutine and importance of corporate sponsorship in the offspring intentness. The idea is to underpin the importance of events in the business and tender environment and role of corporate sponsorships in creating mutual value by sponsoring events and programs. There is no denying that a number of events are sponsored by a number of organsiations that help in gaining mass attention along with enhancing the overall appeal and value in the short as well as in the long run. A critical and logical discussion over the importance of corporate sponsorship in the event industry will help in understanding the intricacies of events and corporate sponsorships in a clear and logical manner. This will also highlight the emergence of corporate sponsorships in last few years. It is important to mention that in that respect is a close relationship between sponsors and sponsees. A sport brand sponsoring a sport event is evenly matched and linked with the event that not only enhances its image but also helps in extending its reach in a great manner. When the Cricket World Cup was held in Asia, a number of sponsors were sponsoring the event where their logos, danglers and advertisements were shown during the entire event. This created a long lasting image in the mind and hearts of viewers that also helped in strengthening the overall image of organsiat ions in the competitive business environment. It needs to be soundless that corporate sponsorship in the event industry is mainly aimed at enhancing the overall reach of organsiations along with extracting full arrays of benefits and advantages. As per the report published by IEG, the sponsorship market is growing at a rate of 5% per annum with countries like the US, Europe and Asia Pacific spending a lot on sponsorship. It can be sour that with large number of corporate organsiations in these countries and a number of events being held, corporate sponsor