An Investigation into Value Creation for Corporate Sponsors Utilizing Experiential Marketing Campaigns: A Case Study of Bestival 2013
(2014) An Investigation into Value Creation for Corporate Sponsors Utilizing Experiential Marketing Campaigns: A Case Study of Bestival 2013, no. 61.
Whilst there is a substantial amount of literature on the shifting marketing environment and the emergence of experiential marketing, there is considerably less on the value that is created from them in the setting of the music festival environment. The purpose of this dissertation is to explore the value criteria that experiential marketing is typically measured through, specifically looking at the three criteria of 'brand awareness', 'short-term sales' and 'customer loyalty'. To enrich the findings of the research, the type of experience provided in campaigns will be assessed in relation to the methods of value creation for sponsors. The research furthermore seeks to evaluate the music festival as a platform for these campaigns, which can contribute to a broader understanding of the factors contributing to its growth as a trend within the events industry. The ultimate aim of the study is to identify if experiential marketing campaigns present value from a sponsor point of view, within the context of a music festival setting. A qualitative research methodology was adopted, through conducting a series of in- depth, structured interviews with five sponsors that marketed at Bestival 2013, as well as one external marketing professional. A theoretical framework was developed based on the existing literature that covers areas such as the development of experiential marketing, the importance of branding and methods of value measurement in the marketing environment. This framework was used to inform the study, assisting in the transcription and coding of the recorded interviews. Thematic analysis was grounded in the data gathered and utilized to identify any connections between theory and practice. Consideration was given to the credibility, transferability and bias issues in the project, with thorough efforts to ensure authenticity and trustworthiness of research. The findings showed that the most common method for measuring value was through 'brand awareness', with sponsors measuring this through a number of tangible and intangible methods, such as 'social media impressions', 'media impressions' and 'word-of-mouth'. It was additionally understood that 'brand awareness' proved to be an important catalyst in achieving some of the other value criteria proposed, such as short-term sales and customer loyalty. When examining the type of campaign experience in relation to value methods, a clear relationship presented itself between the use of 'SENSE' and 'FEEL' campaigns and the measurement of value through 'brand awareness'. Research also concluded that the music festival atmosphere allowed for a rich marketing environment, due to its appeal for organizations in creating positive brand associations and reaching specific target-group consumers. The research findings satisfy the objectives outlined, resulting in the aim and research question being met. However, recommendations for future research have been provided, which would further explore the measurement of value in experiential marketing.