SPORTS SPONSORSHIP AS A MARKETING STRATEGY-A CASE OF THE ZIMBABWE AN BANKING SECTOR

Abstract

The aim of the study was to explore how sports sponsorship impact on building company image. Benefits such as creating long lasting relationships with the stakeholders as well as the community and building company image are also discussed. Challenges of sports sponsoring are also considered such as inappropriate image conveyed by sports entities as well as ambush marketing. The last objective of the study assessed attitudes of spectators towards the sponsorship .In carrying out the study, the researcher used a descriptive research design with 150 respondents who were grouped as 70 management and 80 spectators chosen at a football match. Management were selected using judgmental sampling technique and spectators were selected using systematic sampling. Primary and secondary data were used. Conclusions were based on results from questionnaires and interviews. Findings of the research confirm that sponsorship objectives vary depending on the sponsored entity and these include enhancing brand image, increasing market share , sales growth and also to generate visibility and publicity. The results indicate that sports sponsorship can be used as a tool for building brand image of a company. The researcher recommends companies to use sports sponsorship as it has a positive impact on building company image as well as increasing sales and encouraging loyalty from customers thereby increasing purchasing intention. Companies are also recommended to select a sports entity that best suits their products and services.