But get it right and the opportunities for Philips are enormous. Under this formula, a Philips-owned event would mean more efficient use of the sponsorship spend, bypassing the restrictions currently imposed on existing sponsorships. For example, as official sponsor of France98, Philips could only promote one category, lighting products, because JVC had already been assigned the consumer electronics category. At the same time, the price tag for becoming one of the many official sponsors of events like the World Cup 2002 and European soccer championships is skyrocketing. Add in the ambush tactics of companies like Nike and the restrictions placed on official sponsors as more and more competitor companies join the fray and life as an 'official sponsor' looks less and less attractive.
Creation means designing something that totally fits the branding objectives in a particular region.
If you buy into something it might only fit 75 percent of your objectives, which might vary from PD, business group or country. Ownership gives you control, from the administration right down to the exploitation. You're going to potential partners with a pre-decided list of objectives, which fits your branding efforts, rather than somebody else's. I'd really like to see events that stay in people's memories long afterwards. I'm talking about a full-body experience, which really enhances the emotional side of the brand.