Sourcing Decisions of Arts and Media Organizations Essay

Sourcing Decisions of arts and Media Organizations - Essay ExampleLikewise, the process of fund raising and donations has rather require a commercial practise that not only has resulted in more and more charity events but has also created a grocery store within that is funded by such large organizations. The amalgamation of social services and media and arts has been an eminent result. and then the market for sponsorships has thrived. These can be seen by the famous charity events by BBC and FOX news (Dan 2011). Thus, activities give care fundraising, donations and sponsorships are of strategical importance to such organizations which is why sourcing decisions are of integral importance to not only a debaucheds financial standing but also to its public relations. It has no become a necessity to get the charity events sponsored or to sponsor a charity event for that matter, as it adds to the reputation and good will of the company. Likewise, firms involved in fundraising are evaluated on the basis of their participation in social activities and on this has become marketing an essential marketing tactics to broaden their customer outdoor stage and reach of the fault. Fundraising events or sponsorships act as a contact point for several untapped markets and increases snitch loyalty of the existing customer base (Pope 2010). Therefore, sourcing decisions are imperative. ... These may include the extended reach of its brand awareness, the objective to increase its brand exposure by having logos placed on the events advertisements or simply the motif of profit maximization. These objectives might sometimes conflict with the objective of the firm peculiarly if the event is a charity event (Pope 2010). In that case both the parties will aim for polar incentives thus the marketer must provide more substance than just logo pasting. Moreover, the commercial avail of the sponsor may often be in direct conflict with the firms strategic goals. Hence rounds are negotiations are often common when sourcing decisions are made which however incur a great deal costs for the firm (Simmons 2006). Therefore, the most crucial step is the decision to choose from the various candidates. A firm must choose the sponsor who is the best fit with the companys strategic goals as surface as its public image. The Consumer Involvement theory suggests that consumers make purchase decisions ground on the level of link they have with the brand and includes the aspects of consumer behaviour like amount of time spent on choosing the product or service, research about the specific product or service, asking friends and family etc. therefore, like the advertisements and promotions, sponsorships should be based on such considerations (Krohmer 2011). Given the nature of arts and media products and services, which are high involvement decision reservation processes involving emotion rather than rational, the sponsorship should be based on consumers preferences of the emotional brands that they associate themselves. Hence if an organization is ineffective to identify the purchase decisions of its