Blog 7.1 – Why Companies Sponsor Musicians

If it’s an advertisement:

1. Describe in detail how the business implemented the four P’s to add value and/or promote the product or service. 

Throughout the world of performing artists, sponsorship is seen everywhere. A sponsorship, also known as an endorsement, is when a company, specifically an instrument company in the context of this blog, decide to partner with famous musicians in order to promote their product. For example, Slash from Guns N Roses is sponsored by Gibson guitars, and Ringo Starr from the Beatles is sponsored by Ludwig drums. When a company sponsors an artist, that artist is then in a partnership where they receive free products from the company (in the highest level sponsorships at least) and in return the company’s products are seen to be played by influential artists. Gibson and Ludwig know that by putting their product in the hands of some of the word’s most renounced musicians, people will see this and cause potential customers to want to purchase from the brand of their favorite artists. The promotion “P” is the main reason as to why companies do this. By supplying a famous artist with free guitars, they know that in turn they will sell more products and increase brand reputation, all of which ultimately lead to more money for the company.

Here we see world famous guitarist slash playing a Gibson guitar.

1. Describe the target market (ie. what segments are being targeted)?  How do you know this is the target market? Did the company make good decisions to reach the target market?

The target market for a sponsorship is any musician who is looking to purchase an instrument that the sponsoring company sells. This is the target market because these potential customers are the ones who are willing to pay the company for the instrument they are in the market for. I believe this strategy works extremely well. When a musician is buying an instrument, there are a large amount of choices to choose from. Something that many musicians will do is to look at what brand their favorite artists uses, and then decide to buy from that company. This makes getting large name artists on your sponsorship roster an invaluable feat that will help to sell more products to more people.

Does it work? Why or why not? Any general observations?

I believe this promotional strategy works outstandingly well. Personally, I know many people, myself included, who look up to to their favorite musicians and decide to use products from that same company. Part of human nature is that we imitate things we like, that’s how babies learn the majority of their basic skills. The idea of a sponsorship is the same idea, by affiliating a brand with a resisted artist, people will naturally want to be like them, meaning they are highly inclined to choose from that specific company.