The impact of sponsoring in Formula 1

• Autor(a) principal: Ilha, João Eduardo Martins
• Data de Publicação: 2023
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/30476
• topic: Sports marketing; Patrocínio -- Sponsorship; Motives; Formula 1; Marketing desportivo; Motivos; Fórmula 1

Brands are increasingly looking for ways to differentiate themselves from the competition, to persuade their consumers to buy their products or services and to ensure that their customers become loyal. However, since there are so many ways for companies to stand out from the competition, it's important to make the right choice in order to best promote the business. Sports sponsorship has therefore proved to be an alternative to traditional media such as radio, television commercials, leaflets and so on. However, sports marketing differs from traditional marketing in that it has the potential to indirectly promote the use of specific non-sports products or services. This study is based on the objective of gaining a better understanding of how sports sponsorship works and, more specifically, finding out what the main reasons are for companies/brands deciding to sponsor a sport such as Formula 1. The study began with the Literature Review, which set out the main theoretical components of this study, more specifically, marketing, communication, sponsorship and Formula 1, which then led to the definition of the study objectives relating to the methodological part. We then moved on to the research part, through a qualitative analysis, carried out via zoom interviews, where a total of 20 interviews were obtained from people working in the area of sports sponsorship or in specific contact with Formula 1. After analysing the responses, it was possible to find results that showed the main reasons why companies decide to sponsor Formula 1, why F1 and not another sport, what the risks of sponsorship are and what the possible results of this sponsorship are. The main motivations are the visibility and notoriety that the sport offers, the association with the image of the sport, networking and the possibility of the brand becoming global.