'Sponsorship is a mutually beneficial arrangement that consists of the provision of resources or funds, goods or services in return for a set of rights that can be used in communications activity, for the achievements of objectives for commercial gain' - Masterman, G (2007)
Organisations and businesses sponsor an event in order to tie their product or service to that market segment. This segment may relate to their products or service, and will identify with the sponsors products.
Firstly I checked out the London Fashion Week website to see what sponsors they have sponsoring their event.
I believe that the majority of these sponsors will be sponsoring the London Fashion Week for a commerical advantage. This means that there is a business relationship between the provider of funds, resources or services to an individual, event or organisation which offers in return, some rights and association that they may use for commercial advantage.
Above shows all the main sponsors of the London Fashion Week. If we look at the Sponsor of the event, many of the sponsors have a link with the fashion industry. For example; Topman, Topshop, Monsoon etc are all clothing companies. M.A.C and Toni&Guy are beauty companies which also relate to fashion. Therefore, by sponsoring the London Fashion Week these businesses will be becoming more recognisable and people will relate their brand to the London Fashion Week which is a high profile fashion event. This may lead the businesses/brands to make more sales or gain more customers. Resulting in it being worth while sponsoring such an event.
Vodaphone is the principle Sponsor of London Fashion Week. Vodaphone is sponsoring the event, and in return they are holding their own London Fashion Weekend which will follow the London Fashion Week and will link to the event. This starts on Thursday 23rd of February and goes on to Sunday 26th of February. Tickets are ranging from £12.50 to £125 and customers of Vodaphone are able to buy tickets to the event 48 hours before they go on general sale. This will encourage individuals to join Vodaphone as they will want a greater chance of getting tickets to this event.
The main reasons in which these sponsors are sponsoring such an event is to, gain a competitive advantage, raise awareness of their brand/product or organisation, to build on their image and to develop and maintain relationships. These are the likely returns that they will make from sponsoring the event. By sponsoring an event such as the London Fashion Week, it is unlikely that the Sponsors will gain any negative association again their brands, therefore there is very little risk associated with sponsoring the event.
Below is a video of Sponsors Topshop's performance on the Catwalk.
Sponsoring an event like the London Fashion Week can gain recognition for brands and businesses.
http://www.londonfashionweek.co.uk/news_details.aspx?ID=407 - This link will take you to an article which has been released by the British Fashion Council, to thank all the main sponsors of the event.
Florence and The Machine'Sponsorship is a mutual agreement for an exchange of benefits' -Sleight, 1989; Meenaghan, 1998So after searching the internet frantically looking for at least one sponsor of the Florence and The Machine tour, i find out that there is no sponsorship. Live music concerts in general do not have sponsors of their events, unless the artist is a major name. For example; Take That had Samsung sponsoring their 2011 tour, this is an example of a well know band, having sponsorship. However, Florence is a well know artist yet her tour will not be as big as the Take That tour, therefore there is no need for sponsorship of the event.
- British Fashion Council. (2012) London Fashion Week(online)Available: http://www.londonfashionweek.co.uk/
- Meenaghan, T. (1998) current developments and future directions in sponsorship. Internation journal of advertising.
- Sleight, S. (1989) Sponsorship. McGraw-Hill
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