Sponsorships can be effectively used by organisations, whether profit or non-profit making, to achieve their objectives and communicate them. Here are some tips on how to do so.Sponsorships can effectively contribute to achieve organisational objectivesTip: Organisational objectives are achieved by drawing up an annual business and/or marketing plan and budgeting. Sponsorships may form part of the implementation activity. Organisational objectives which can be partly achieved through sponsorships may include sponsoring an event which hosts a

I am a believer that marketing is a people business. The economy is made up of value-added and GDP generated by people’s talent, creativity, knowledge, competence and hard work, among others. Consumption of goods and services are key drivers of the economy. Thus, products and services exist and are developed to satisfy needs and wants of consumers.  I tend to love people and building relationships. People meet each other informally, such as at networking events,

The implementation of a marketing plan and business projects needs financial back-up and hence requires a budget allocation. It follows that the next step is to source the funds and/or how much of the budget allocation will be used for marketing activity and projects.A key to the answer is to distinguish between the terms ‘funds’ or ‘budgets’ and the term ‘resources’. The difference is that when we look for resources rather than a monetary budget,

Pricing is always an important consideration in business, especially in an environment of cut-throat competition, when we think that the market is saturated and that customers look for nothing else but price. But are we sure that this is the reality?When pricing a product or a service, every business seeks to make a profit. Very commonly, businesses take a financial approach towards pricing by establishing the cost of the product or service and adding a

Whilst most businesses carry out a number of effective marketing initiatives, the mindset of business leaders is on how a product or service is going to be sold – but even here it is essential to be clear on what we are selling.Organisations are not in the business of the products and services they offer but rather in the business of identifying and communicating with the customers their products are addressed to i.e. their market