Economic Benefits of Sponsorship of Olympic Games

The costs associated with staging sports events, including such massive venues as the Olympic Games, may be generated in a number of ways. One increasingly popular strategy is to persuade an entity external to the sport to underwrite such costs through a sponsorship arrangement. Sports sponsorship differs from both advertising and rights licensing. Rights licensing may involve an authority to produce and market products with themes of a sport or sports event, or the authority to broadcast sports events electronically. Sports sponsorship, by contrast, permits an entity to promote itself as an official sponsor of some sports event or sports team in return for underwriting all or parts of the costs of staging the event or operating the team in question. While advertising, rights licensing, and sports sponsorship all are associated with the marketing communications process, each a

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s way, the international television community was subject to the Official Snack Food (M&Ms) and hundreds of other similar boasts by companies. By 1992, approximately 70 percent of the USOC's $250 million budget came from corporate sponsorship. A major factor in the growth of commercial sports sponsorship has been the near phenomenal technological development of electronic communications. The advances in global telecommunications, together with the globalization of the international economy, may be expected to fuel even greater growth in commercial sports sponsorship (Grimm, 1995). As well as generating an audience and thereby influencing corporate or brand awareness, a sponsorship program can also transfer certain image connotations inherent in the activity onto the sponsor. An example of image transfer is provided by Kodak and that corporation's 1988 Olympic involvement. The Olympic theme was used to enhance brand image on a worldwide basis and particularly with the youth market. Kodak built a highly effective campaign centering on consumer products such as film, batteries, and cameras using the highly appropriate "Go for the Gold" theme (Meenagahan, 1991, p.81). Economic Benefits Finding ways to generate and maximize re
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Approximate Word count = 1796
Approximate Pages = 7 (250 words per page)

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