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Research on Exposure Rate and Brand Image Building Strategies of Sponsors in F1 Racing Events
- 1 Wuhan Britain-China School, Wuhan, China
- 2 Trinity College, The university of Melbourne, Melbourne, Australia
* Author to whom correspondence should be addressed.
Abstract
As the competition among the teams in the F1 paddock becomes increasingly fierce, the competition between sponsors is also becoming more intense. If sponsors want to stand out from the crowd of sponsors, they need to formulate reasonable sponsorship strategies and use appropriate channels to increase brand exposure and visibility. So this article explores how sponsors can increase brand exposure and visibility to promote sales under the trend of increasingly fierce competition in thepaddock? This article aims to comprehensively analyze the core concept of sports sponsorship, elaborate on its diverse types and implementation methods, and focus on the sponsorship practices in F1 racing, and deeply interpret the operating mechanism of this field through rich cases. After in-depth analysis, this article believes that the specific exposure measures of sponsors in sponsoring F1 events include on-site advertising, media cooperation, the use of social platforms, the establishment of user communities, and the adoption of emerging technologies. When discussing sponsorship strategies, this article failed to fully start from the strategic perspective of the sponsoring company itself, and deeply analyze the key links such as its motivation, goal setting, budget allocation, and effect evaluation in choosing to sponsor F1 events. This has limited readers' understanding of the business logic behind sponsorship behavior to a certain extent.
Keywords
Sponsorship, brand exposure, Formula One, policy
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Cite this article
Deng,J.;Yang,R. (2024). Research on Exposure Rate and Brand Image Building Strategies of Sponsors in F1 Racing Events. Advances in Economics, Management and Political Sciences,135,192-197.
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