building best brands

Glossary: Sponsoring & Rights

Sponsoring

It is becoming increasingly common for companies in various industries to use sponsorship as a communications tool. In sport, at cultural events and in the environmental, social and media sphere, platforms, personalities, rights, projects or events are specifically introduced to stir people's enthusiasm for brands. In a move away from patronage and fundraising through donations, this form of sponsorship is based on the principle of services rendered and services received, which is usually set out in a cooperation agreement. This agreement between two partners, as well as the strategy, rights management and communications concept, is often formulated by a third party, e.g. a specialist consultancy agency. The agency makes use of its comprehensive expert knowledge and handles all matters relating to the preparation of contracts, communicative applications and networking, right through to the initiation of particular schemes.

Testimonial

A testimonial is a statement from a real person, either living or dead, or from a fictitious character, in which he or she emphasises the positive features of the advertised services, brands or products, such as their quality, usefulness or good value for money. Typical exponents include celebrities, experts, employees or genuine consumers. The use of celebrity testimonials is intended to convey the positive, likeable and authentic image of the people acting in this promotional capacity, and of the information they present about the image of the brand, company, product or service (image transfer). Ideally, it will also create a bandwagon effect among the relevant target group.

Right Marketing

The right marketing plays a key role in selling products, rights and services. Marketing supports sales activities, and is characterised by a clear focus on selling. This involves taking the requirements of the markets concerned into account, by using appropriate procedures and an individual approach to fulfil the expectations of various target groups.In addition to high sales figures, one of the hallmarks of a good and successful marketing strategy is an increase in awareness of the product and of the associated company. To achieve these aims, it is important to establish the right sales channels, taking any legal regulations into consideration.