During companies leveraging by using social media/digital

During any
sports competitions, or leagues consumers must have come across sponsored
products, hoardings, advertisements, kiosk setups or the team wearing different
sponsor’s uniforms, but never thought of the benefits these companies
leveraging out of this sponsorship. In our research, we did detailed study of
“food and beverages companies” and presented the benefits these companies
leveraging by using social media/digital platforms. Sports sponsorship is the
relationships between sporting organizations and food and beverage brands and
companies. Behavior modification theory suggests repeatedly linking a product
with an external stimuli (e.g. a sports match) and advertising increases the
probability of product purchase. Sponsorships maintain brand salience (ensuring
consumers notice and remember the brand), reinforce purchase behavior, and
remind consumers of brands’ favorable attributes. Sponsorships link brands with
associations of excellence and sporting prowess, and suggest purchasing and
consuming the brand is a conduit to these attributes. F&B companies spend
heavily in these promotions by supporting and funding famous players. Sporting
heroes thus act as role models and vicarious instructors who educate consumers
about brands and imply that purchasing them will enable consumers to access
desirable and aspirational characteristics.

For further
detailed discussion we have categorized sports based on revenue and fan
following and tried to understand their strategies for digital media
sponsorship. We have observed that brands who are involved in sponsorship tries
to maintain the long term relationship with particular sports and connect to
their customers by gaining the trust in brand image and customer loyalty
associated with the brands. Eg- PepsiCo is one of the leading food and Beverages
Company with presence in different sectors catering to different customer
needs. Since the changing trends, companies are taking advantages of unused and
growing channels and started focusing on the digital medium to connect the
audience. A major driver of change is how consumers, particularly younger
viewers, watch sport today. The stereotype way of watching sports with groups
of friends gathering around the TV set is traditionally declining. While
Interest of viewers such as streaming on their mobile and other digital devices
has increased. However, the game-changer is the meteoric rise of social
broadcasting. Both Twitter and Facebook are pushing their
“live” functionality, which is increasingly becoming the first place for
many fans, especially younger ones, go to witness the action.

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The major companies
involved in sports sponsorships are PepsiCo (Gatorade in isotonic beverages,
Frito-Lay in snacks, Pepsi in carbonated drinks, Quaker Oats in hot cereals
category), Coco-Cola (coke, diet coke in carbonated drinks), Mars
(chocolate/non-chocolate confectionery), Papa John’s (pizza), Anheuser-Busch (alcoholic
beverages), Campbell’s soups (soups/beverages) etc. PepsiCo is the NFL’s
biggest sponsor, with sponsorship agreements valued “estimated $100 million a year.” There
are few more brands who recently entered in this category like Danon (yogurt).
Companies sponsorship strategy are changing they wanted to make the fan
experience better rather than using the properties for generic advertising. One
thing they are focusing at is creating an ongoing link with sponsorships in the
digital world. The global sponsorship spending is projected to $62.8 billion,
4.5 percent higher than $60.1 billion in 20164. The NFL itself made $1.2 billion in sponsorships in year 2015-2016.

The Super
Bowl is, along with the UEFA Champions League final, the most-watched annual
sporting event on TV. Super Bowl LI, played on February 5, 2017 and broadcast
by Fox in the U.S., was watched by more than 111.3 million viewers in the
United States. The game had a TV rating of 45.3 in the U.S.
The cost for a 30-second advertisement spot during the Super Bowl
broadcast reached a record 5 million U.S. dollars in 2017.