Events and Experiences
- Becoming part of a personally relevant moment in consumers' lives through sponsored events and experiences can broaden and deepen a company's or brand's relationship with the target market.
- Marketers report a number of reasons to sponsor events:
- To identify with a particular target market or lifestyle
- To increase salience of company or product name
- To create or reinforce perceptions of key brand image associations
- To enhance corporate image
- To create experiences and evoke feelings
- To express commitment to the community or on social issues
- To entertain key clients or reward key employees
- To permit merchandising or promotional opportunities
- Making sponsorships successful requires choosing the appropriate events, designing the optimal sponsorship program, and measuring the effects of sponsorship.
- Choosing event opportunities
- The event must meet the brand's marketing objectives and communicate strategy
- Match the target market
- Have sufficient awareness and favorable attributions
- Possess the desire image
- Be able to create the desired effects
- Designing sponsorship programs
- Many marketers believe the marketing program accompanying an event sponsorship ultimately determines success.
- Event creation- a particularly important skill in publicizing fund-raising drives for nonprofit organization.
- Measuring sponsorship activities
- Suppy-side- method for measuring an event's success assesses media coverage .
- provides quantifiable measures, equating media coverage with advertising exposure ignores the content of the respective communications.
- demand-side- method identifies the sponsorship's effect on consumers' brand knowledge
- Experiential marketing- not only communicates features and benefits but also connects a product or service with unique and interesting experiences.
- Not only must the company relate constructively to customers, suppliers, and dealers, it must also relate to a large number of interested public.
- Public- any group that has an actual or potential interest in or impact on a company's ability to achieve its objectives.
- Public Relations (PR)- includes a variety of programs to promote or protect a company's image or individual products.
- PR departments perform the following five functions:
- Press relations- Presenting news and information about the organization in the most positive light.
- Product publicity- Sponsoring efforts to publicize specific products
- Corporate communications- Promoting understanding of the organization through internal and external communications.
- Lobbying- Dealing with legislators and government officials to promote or defeat legislation and regulation.
- Counseling- Advising management about public issues as well as company positions and image during good times and bad
- Marketing Public Relations (MPR)to support corporate or product promotion and image making.
- Publicity- the task of securing editorial space as apposed to paid space in print and broadcast media to promote or hype a product, service, idea, place, person, or organization.
- MPR goes beyond simple publicity and plays an important role in the following tasks:
- Launching new products
- Repositioning mature products
- Building interest in a product category
- Influencing specific target groups
- Defending products that have encountered public problems
- Building the corporate image in a way that reflects favorably on its products.
- Major Decisions in Marketing PR
- Management must establish the marketing objectives, choose the PR messages and vehicles, implement the plan, and evaluate the results.
- Awareness- placing stories in the media to bring attention to a product, service, person, organization, or idea.
- Credibility- communicating the message in an editorial context.
- Enthusiasm- with stories about a new product before launch.
- Promotion cost- MPR costs less than direct-mail and media advertising.
- A better measure is:
- change in product awareness
- comprehension
- attitude
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