SPONSORSHIP AS A STRATEGIC TOOL IN THE CONTEXT OF EVENT MANAGEMENT

Events and festivals are important within society and, in recent years, more attention has been given to them in regards to how they should be managed as a regular business. Sponsorship allows financial and material resources, which an event organization may not get otherwise. This requires time and dedication from individuals within the event organization. Since, sponsorship is important for many events to exist and remain; event organizations should understand the importance of using sponsorship strategically. This thesis focuses on eight event organizations within Finland and Sweden. The aim of this study is to research how event organizations work strategically with sponsorship, select and manage sponsors, and how sponsors can help to develop the event. In order to conduct this study, the authors of this research interviewed eight professionals that were responsible for sponsorship arrangements. Strategy-, marketing- and stakeholder theory as well as portfolio management- and image- related theory has been used to evaluate event organizations and their sponsorship arrangements. The main findings from the research are that there were differences in strategy depending on event organization and the purpose of having sponsors. It was observed that event organizations have the intension of gathering resources from sponsors, however wish to have partnerships in order to further develop the event. Other findings from this study are that event organizations select sponsors for the reason that there is a logical link that exists with the sponsor to promote, learn, gain legitimacy and build a stronger image