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Abstract
Values have been defined as closely held beliefs that play a major role in guiding behaviors and influencing attitudes. Previous researchers have noted that a key objective of sponsorship-linked marketing is to create strong and lasting values-based connections between fans and sponsors and has called for new research examining such fan-to-sponsor connections. The current work is the first to answer this call by providing a foundational investigation into the relationship between Old School values and varied aspects of sponsorship effectiveness. Two studies were conducted using return-mail exit surveys, one at an NCAA men's collegiate basketball game and another at a professional hockey match. The authors conclude, based on the findings, that fans do embrace Old School values and that those embracing such values have significantly higher sponsorship recognition rates and predominantly more positive perceptions of sponsors. The work also investigates a proposed positive relationship between Old School values and team identification levels. Lastly, the work uncovers some significant demographic differences.
Introduction
Sport sponsorship is an ever-increasing multibilliondollar business worldwide. In North America alone, annual sponsorship spending is fast approaching $20 billion (IEG Sponsorship Report, 2013). Of course, given tough economic times, corporations are requiring evidence of the effectiveness of their sponsorship investments (McKelvey & Snyder, 2009). Moving away from purely financial analyses, some research in this domain has focused on understanding sponsorship effectiveness by examining perceived fan-to-sponsor connections (Cornwell, Weeks, & Roy, 2005; Olson & Thjømøe, 2011).
Previous researchers have opined that a key objective of sponsorship is to create a values-based connection between the sponsor and sports fans (e.g., Aaker & Joachimsthaler, 2000). A values-based connection would imply both strength and permanence since values are defined as closely held beliefs that both guide our behaviors and influence overarching attitudes (Kahle, 1996). In the context of sport, values play an important role in myriad fan behaviors and lead to well-formed and long-lasting attitudes toward athletes, teams, leagues, etc. (Bee & Kahle, 2006; Funk, Haugtvedt, & Howard, 2000; Gibson, 1993). To date, no academic study has examined this important link between fan values and sponsorship effectiveness. Thus, the current research is an attempt to increase our knowledge of how fans relate to sponsors by examining the connection between fans' values and both their awareness...