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Sponsorships

Business Tech I

TermDefinition
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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