Which of the following best describes sponsorship as a marketing strategy?

Sponsorship as a marketing strategy primarily involves financially supporting events, individuals, or organizations in exchange for brand exposure and visibility. This approach allows companies to associate their brand with positive experiences such as sporting events, concerts, or charitable initiatives, thereby enhancing their image and reaching a targeted audience. By providing the necessary funds, resources, or services, sponsors gain promotional benefits such as logo placements, mentions during events, and access to audiences, which can significantly increase brand awareness and customer engagement.

Prominent examples include sports teams being sponsored by brands whose logos appear on uniforms or at stadiums, and festivals that attract large crowds supported by sponsors who gain favorable exposure through event materials. This strategy leverages the popularity of the events or individuals being sponsored to build goodwill and a robust brand presence in the community or market.

The other options do not accurately capture the essence of sponsorship. Supporting a charity without financial investment does not qualify as sponsorship because it lacks the financial exchange that characterizes this strategy. Conducting surveys to promote awareness focuses on market research rather than sponsorship activities. Similarly, creating viral marketing campaigns involves different tactics that emphasize content that spreads organically and isn't directly linked to the financial support typical of sponsorship deals.