The dream of any company or business is to generate a wide customer base throughout the world. For Sony, its major objective is to reach a large population internationally. Its partnership with FIFA is very significant in achieving this.
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This is because FIFA has a wide base of reaching many people in terms of football funs allover the world. During its major events, FIFA attracts millions of football funs. This is a fertile ground in which Sony can operate to reach its target market.
By having the right of using the FIFA logo, Sony would benefit in generating a strong brand image of its products. This is because many people trust FIFA, esteem it highly and associate it with quality. Sony can benefit from these positive qualities associated with FIFA by improving its brand image.
In addition, since the focus of Sony is sale of electronics, Sony would benefit in the sale of televisions, which would be useful in watching the competitions. In addition, due to association with the most esteemed competition in the world, many football funs would also esteem Sony as a company and respect its products.
Sony could also benefit from product differentiation especially in sale of televisions. FIFA events could make Sony brands unique in the market and render them different from their competitor products.
In addition to product differentiation, Sony can highly benefit through the program of advertising in the television during the events. This can attract millions of football funs allover the world, hence attract more customers to Sony products.
Business objectives that Sony should concentrate on through the partnership
Due to the numerous opportunities accorded to Sony through the partnership, it should concentrate on specific objectives that would help the company achieve its goals. First, Sony should seek to generate creative marketing campaigns during the events.
Since the sponsorship is just for a designated period, Sony should aim at reaching as many new customers as it can, through successful advertisements. The company can achieve this through creating attractive billboards and generating creative television commercials.
The other objective that Sony should seek to achieve is to heighten awareness and respect for the Sony brand. Since the partnership is just for eight years, Sony should seek to generate confidence on its current and prospective customers during the designated period.
This would ensure that people respect Sony products and trust them even without such a partnership. In addition, Sony should seek to increase the television business, which had suffered a loss in previous years. In this regard, Sony has a chance to improve the quality of its television sets, which have a high demand during FIFA competitions.
In addition to increasing awareness for the Sony brand, the company should also seek to increase its overall sale of electronics. This is because Sony has a chance to display products and offer sales during the FIFA events at the sites.
Since FIFA competitions attract millions of football funs, Sony can benefit by making increased sales at the sites. Sony should also seek to enhance its overall corporate value through generating confidence in its present and prospective customers.
This is the overall objective that encompasses all other objectives. This is because an enhanced corporate value helps to increase the customer base as well as increase overall sales.
Another objective that Sony should seek to achieve through this partnership is to get a chance to offer new forms of entertainment and gaming. This is largely because Sony’s entertainment and gaming have not been very successful in the market.
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This would offer the company a good platform to offer new and exiting forms of entertainment and enjoyment that most football funs would embrace and like.
This will in turn generate a wide customer base for entertainment and gaming, who will continue requiring the services even after the end of the deal. Some of the objectives like contributing to soccer would not be of preeminence since the overall goal for the partnership is for Sony to build an extended customer base.
Sponsorship benefits that would be most important to realizing Sony’s objectives
Since the partnership offers Sony various benefits and privileges, Sony would make much out of these benefits. Particularly, the privilege of offering product displays and sales at the sites is very crucial.
This would help Sony achieve the objective of increasing its sales and offering new forms of entertainment. In addition, the benefit of featuring in television commercials would help Sony improve the customer base and generate creative advertising campaigns.
Another benefit that would be of crucial significance in achieving the objective is that of using a combined logo with FIFA. Since many people trust FIFA and associate it with quality, this feature would help Sony build and improve its brand image and quality.
Moreover, the benefit of featuring rotating boards during competitions would help Sony increase its sales and create new customers. Due to the magnitude of the objectives set by Sony, all the benefits offered by the sponsorship would be influential in various degrees.
However, the least influential would be exposure to the official FIFA website and publications. This is because they do not highly help to achieve the specific objectives set by Sony.