Availing Sponsorship for a Business Farm

Definition of Sponsorship: -

Sponsorship is a type of cash or kind fee offered to a (sponsoree) farm or business organization, against some profiteering financial potential concerning the assets or property.

Sponsorship may be offered to even a non-profit organization, with the anticipation of a quality commercial return. It can facilitate awareness and positive branding and eventually construct the predilection of purchasing among the consumers. Sponsorship is different from advertising or similar form of promotional activities, in a sense that it will never disseminate the product attributes or stand alone all the way without any supportive factors.

Textbooks on Sponsorship: -

Some of the basic textbooks on sponsorship are as follows:

• Sponsorship, Gilmore, Richard. And Gilmore, Janine R., 1999.
• Sponsorship, Mackay Hugh, 1990.

Examples of Sponsorship: -

Sponsorships may come in various forms. The common ones being:

Example1:

General sponsorships are the most-common form of sponsorships, contributing largely in a farm. The general sponsors tend to bear the power of utilizing the icon, for competing as well as for aggressive media coverage.

Example 2:

Title sponsors or official sponsors form the maximum part of the funds to be raised for setting up as well as hosting an event successfully. These sponsors are mostly offered highest exposure amongst other sponsors, by placing their logos in the banner or mentioning them verbally in popular commercials.

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Acquiring fruitful sponsorships or raising target amount of funds can transform the entire face of business completely. It requires specialized skills and considerable years of experience to successfully construct an economic value of the business to attract potential investors for sponsorships.

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