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Definition: Sponsorship

‘Sponsorship’ is a form of promotion, often considered PR, where a firm provides support for an event, venture, organisation, person or charity by providing money or other resources in order to obtain positive publicity.It is an increasingly common form of promotional activity.This is usually in return for advertising space at the event or as part of the publicity for the event.

It is a form of marketing in which a corporation pays for all or some of the costs associated with a project or program in exchange for recognition. Corporations may display their logos and brand names, with specific mention that they have provided funding. Corporate sponsorships are commonly associated with non-profit groups or events in educational institutes, who generally would not be able to fund operations and activities without outside financial assistance.

Corporate sponsorship is common for social programs, art exhibitions, performances,sports events, collegiate fests et al. The promotion or advertisement can be done through banners, posters, logos on merchandise, announcements, brand promoting events and so on.

Hence, this concludes the definition of Sponsorship along with its overview.

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