Sponsorship
General Definition
Sponsorship is a marketing communication tool.
It is a remunerative form of cooperation between the company and the sponsored partner, and is beneficial to both.
While the sponsored partner receives either money or some other type of material benefit for its cooperation, the sponsoring company uses the sponsored partner’s positive image in pursuit of its own goals.
Sponsorship is not about donations, which are a form of charity.
ICC International code on sponsorship, 2004:
”All sponsorship should be legal, decent, honest and truthful. It should be conceived with a due sense of social responsibility and should conform to the principles of fair competition as generally accepted in business.”