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Sponsorships
Business Tech I
| Term | Definition |
|---|---|
| Sponsors | Organizations, firms, or individuals that give teams money in exchange for naming rights and advertising rights on stadium signage. |
| Signage | The collective use of signs, symbols, or design. Stadiums may reserve areas where sponsors can use signage for advertising purposes. |
| Naming rights | The exclusive right of a sponsor to have its name and logo on a stadium. |
| Negotiation | The process through which two or more parties with competing interests reach an agreement. |
| Brand | An image, logo, or name that consumers associate with a particular company. |
| Association principle | A principle holding that people simplify decision making by relying on visceral responses to questions related to topics such as peer acceptance or rejection. |
| Passion transference | A term used to describe the process by which fans of a sports team strengthen their allegiance to brands associated with that team. |
| Product promotions/ endorsements | When a celebrity recommends that consumers buy a product or service provided by a sponsor. |
| Bidding war | When two or more companies try to outbid the other for something, such as a sponsorship opportunity. |
| Profit margin | The income a team is left with after paying operating and administrative expenses. |
| TV broadcast rights | The rights to broadcast a team’s games on TV (and often the Internet). |
| Perceived value | The value attached to something—such as a sports sponsorship—by the person seeking to acquire it. |
Created by:
millymia01
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