While a vast number of studies have explored exchange dimensions between two entities as a means of value extraction, little attention has been paid to the value which an organisation can receive from a sponsorship relationship. Current literature provides relatively little insight into the sponsorship exchange relationship, particularly that within the arts sector. Reports suggest that the art sponsorship sector will grow a further 40% between 2008 and 2012, prompting that further information is required (Key Note, 2007).
The purpose of this research is to gain insight into whether the relationship influences and affects value derived from a sponsorship, as perceived by the sponsoring business. The Literature review provides a comprehensive overview of the literature pertaining to sponsorship and social exchange theory. The review explains the relevance of exchange and social exchange theory, as means of understanding how the relationship influences upon and effects relations between two exchanging parties. Through this process, a gap in knowledge was identified which guided the primary research.
The research applied a qualitative, exploratory manner, in order to explore business perceptions of their art sponsorship relationship(s). The research involved interviewing seven businesses, from a range of industries and sizes, on their perceptions and experiences with art sponsorship. The interviews were transcribed and coded, after which a thematic analysis was applied in order to generate meaningful patterns. This process identified five categories which reflected the data and the research objectives. The findings suggest that the perceived value within a firm’s art sponsorship is heavily reliant upon the relationship, where value is derived through the culmination of various areas such as a firm’s motivations, expectations, practices, experiences and perceptions. The thesis provides several models which explain how value is derived and how value derivation alludes to greater ideas, like the lifecycle of a sponsorship relationship.
