. International Review of Management and Marketing ISSN: 2146-4405 available at http: www.econjournals.com International Review of Management and Marketing, 2017, 7(1), 34-42. International Review of Management and Marketing | Vol 7 • Issue 1 • 201734 Real Value of Advertising Value Equivalent in Sport Sponsorship Sebastian Kot1,2, Michał Kucharski3* 1Czestochowa University of Technology, The Management Faculty, Poland, 2North-West University, Faculty of Economic Sciences and IT, South Africa, 3Faculty of Management of Sports and Turism, The Jerzy Kukuczka Academy of Phisical Education in Katowice, Mikołowska 72a, 40-065 Katowice, Poland. *Email: m.kucharski@awf.katowice.pl ABSTRACT Conducted examinations were aimed at examining to what degree formal values of the advertising value equivalent (AVE) are ahead of their real value. The reason behind setting the real amount of the AVE is that many sponsoring entities supporting sport treat this factor as the main determinant in evaluation of their sponsoring campaign, even though there are justified doubts about its credibility (Hagyari et al., 2016). During the implementation of studies a thesis was adopted that the official value of the AVE is elevated, and hence distort the process of evaluation of sponsorship. Conducted research involved determining number of visual contacts of respondents with logotypes of chosen sponsors while watching video material with volleyball matches. Research process was based on an eye-tracker. Obtained data was used to determine real values of AVE obtained by each brand. Obtained findings allowed to accept the thesis, as applied innovative test procedure confirmed that real value of the AVE, which had been set, was significantly lower in case of every examined enterprise: Differences between the official and real value of the AVE fluctuated from 57% to 96%. Sponsoring enterprises shouldn’t base the evaluation of their sponsorship campaigns on official AVE as obtained data may lead to erroneous conclusions. Keywords: Advertising Value Equivalent, Sports Sponsorship, Eye-tracker JEL Classifications: M31, O32 1. INTRODUCTION Conducting a business activity one should make every effort to generate benefits to companies and entrepreneurs during taken actions. This principle regards large, average, small as well as micro enterprises and spreads through all areas of their functioning. That is in case of conducting promotional campaigns, being one of principal components of activity in the area of marketing. These benefits, according to principles of the realization of the managing process that can be based on benchmarking (Goncharuk et al., 2015), should be verified at the stage of control and can assume different form depending on established purposes of a promotional campaign and effectiveness of their realization. Diversity of purposes accomplished with the promotion and different manners of their realization used in economic practice (Grzegorzek, 2010), based on principles of integration of the promotion (Pabian, 2009), force seeking methods allowing for obtaining the reliable information about achieved benefits. In case of promotional measures, in the opposite to other aspects of organization’s functioning, additional difficulty in the identification and measurement of benefits achieved thanks to it comprises concomitance of indirect and final promotional effects (Czarniewski, 2010). It will not also be possible to directly express all benefits coming from applying the promotion in a material way. A consequence of the described situation are diverse methods of monitoring of get effects, which appear in the literature, as well as in practice economic associated with marketing activity. One of these methods intended for the promotional actions unrelated to the advertisement is establishment of the advertising value equivalent (AVE). Functioning for years, this method waited numerous discussions on pages of scientific journals, and its application was called by many authors into question (Macnamara, 2000; Watson, 2012; Watson, 2013; Xuening and Pieter, 2012; Safiullah et al., 2016). Yet it is still used in economic practice for the measurement of results of promotional measures (Kot and Kucharski, 2015; Wright et al., 2009). Due to it was decided as part of own examinations to bring up issues of the credibility of the AVE. Examinations presented in the present article constitute the part of wider examinations devoted to the measurement of the Kot and Kucharski: Real Value of Advertising Value Equivalent in Sport sponsorship International Review of Management and Marketing | Vol 7 • Issue 1 • 2017 35 effectiveness of the sports sponsorship (Demir and Söderman, 2015), in frames of which it was aspired to make multi-criterial study of methodology of its establishing. Setting the real value of the AVE based on the test procedure with the application of eye- tracker was one of mentioned aspects. The principle of examinations concerned the effectiveness of sponsorship campaign constituting one of available methods of conducting the promotional activity. Therefore also the verification of the legitimacy of using data concerning the AVE in the evaluation of promotional campaigns will be based on sponsorship activity of selected companies. Reducing the research trial in the aspect of enterprises using the AVE resulted from purposes put before the integrity of quoted examinations, but was also justified with findings conducted in 2012 (Halemba et al., 2013). Then research amongst Polish volleyball clubs appearing in the highest male and female league was being made. One of adopted purposes of research was getting to know criteria, which enterprises sponsoring these clubs took into consideration by evaluation of their commitment to the cooperation with the given club. From 20 clubs appearing then in both leagues, 16 made up their mind for the participation in the examination. Out of them 13 clubs showed that they knew factors affecting the level of the satisfaction of their sponsors and in frames of the opened question named these factors. In 9 clubs replies the value of the AVE appeared directly or assumed the form of the factor affecting this value, like e.g., number of TV broadcasts. In other question respondents were asked for assessment (in the scale from 1 to 7) of factors listed by authors of the examination, which can be significant for their sponsors at the evaluation of the result of committing themselves to sports sponsorship. Representatives of male volleyball clubs participating in the examination assigned maximum values to TV broadcasts (4.4) and AVE (4.3). Frequency of indicating AVE by Polish volleyball clubs as one of crucial factors of the evaluation of the sponsorship campaign fulfilled by enterprises cooperating with them, became an essential reason of research works aiming at setting its real amount. In consequence people managing sponsorship campaigns, as well as campaigns exploiting other forms of the promotion, will get confirmation or negation of the legitimacy of using the AVE for assessing effects of these campaigns. 2. LITERATURE REVIEW Possibility of exploiting the measurement of the AVE in the research on the effectiveness of promotional campaigns, including sponsorship campaigns. The AVE may be defined as the index expressed in money which tells how many means one should allocate for the purchase of traditional forms of advertising in order to get the effect generated by the time and places of the exhibition of the given mark logotype associated with media reports from events, which the given brand is being exhibited in (Kee and Hassan, 2006). At establishing the AVE one should be based on exhibitions appearing in the media, which it is possible to describe as effective. In case of data concerning value of the AVE presented in the present article a condition of treating the given exhibition as effective was a time of its appearance (not shorter than the second) and high percentage value of the area of the clearly and apparently taken logotype (over 80). Setting the number of effective exhibitions of logotypes of sponsors during the broadcast of matches Polish male and female, first-class volleyball league is being fulfilled by the research agency, which serves PLPS in this matter and applies quoted criteria for establishing effective exhibitions. The number of effective exhibitions is one of factors taken into consideration at the determining the value of the AVE by this agency. The detailed scheme presents itself as follows: WE=LE×LW×WD×CPT(30) (1) Descriptions: WE: Value of AVE LE: Number of effective exhibitions LW: Number of people watching the given broadcast (in thousand) WD: Rate of the length treated as the quotient of the length of the exhibition of the logotype of the brand long up to 30 s, i.e., to duration of the standard advertising spot CPT(30): Cost of reaching up to 1000 spectators for 30 s advertising spot. By inserting following exemplary data to the above formula: 10 effective exhibitions of length rate equal to 0.25, 5 thousand spectators, in which CPT(30) amounts 20 PLN, we receive the following value of the AVE: WM=10×5×0.25×20 PLN=250 PLN (2) Expressing the AVE in money makes it possible to use it for the evaluation of conducted promotional measures and for establishing their effectiveness. It is at the stage of the control, carried out in a final stage of the management process, having cognitive-adaptation character (Kuc, 2002) the comparison of achieved results with accepted standards, the drawing of conclusions and implementing correcting action, should be made (Kotler, 2005; Kuc, 2009; Kuchta, 2011). Within control of actions carried out by enterprises in the area of marketing it is possible to distinguish the following analyses: Effectiveness, market share, sale, the corporate image, marketing costs, budget, profitability, net profit, satisfaction of customers and the communication with them (Kowal, 2010). In the context of this deliberations concentrating on the concept of the effectiveness out of her numerous kinds, amongst which it is possible to distinct productive, technical, adaptive, understood is the sense of Pareto, price, cost, organizational and the X-effectiveness concept (Puczkowski, 2014), productive effectiveness will be included, which can be also determined as cost-effectiveness (Pawłowski, 2014). The assessment of it is based on correlating effects generated by the commitment to the sports sponsorship with the expenditure incurred on reaching these effects (Puczkowski, 2011). Carrying on deliberations, on the base of which we got the model value of the AVE on the level of 250 PLN and assuming that the model enterprise incurred the costs associated with the considered exposition of their brand at the given medium equal to 200 PLN we will receive the effectiveness of taken action on the level 1.25% or 125% (250 PLN/200 PLN = 1.25). The simplicity of establishing the effectiveness at using the AVE constitutes the temptation of basing undertaken promotional measures on this method of estimation. But bearing in mind numerous voices Kot and Kucharski: Real Value of Advertising Value Equivalent in Sport sponsorship International Review of Management and Marketing | Vol 7 • Issue 1 • 201736 surrendering the legitimacy of using the AVE into the doubt, one should think, whether indeed it is worthwhile making decisions about continuing or ceasing of given campaign on the base of the effectiveness established at exploiting it. Were decided to clarify this doubt as part of presented own examinations for the enterprises involved in the sports sponsorship. Sponsorship is a part of promotional activities of organizations that can be used in achieving various benefits. It is possible to divide company’s benefits on: (1) These associated with social awareness, relations with the government, investing in the society and perceiving the company by it, providing entertainment for customers, financial relations, the corporate image, rivalry with other companies and associated with the affair with employees; (2) marketing benefits, i.e. reaching target markets, business relations, sale growth, brand positioning; and (3) media benefits, to which belong i.e. brand positioning, presence in the media, strengthening and standing out advertising campaigns carried out at the same time (Nufer, and Buhler, 2010). Other classification divides benefits connected with the sponsorship on these referring to the company, its image, the local communities and customers (Datko, 2012). Scope of benefits possible to achieve by the organization depends on adopted purposes and the degree of the commitment to the cooperation with the sports entity (full, medium-strong engagement in the sponsorship or a need of cooperation in part of the patronage) (Zinger, and O’Reilly, 2010). Completion of the sponsorship campaign should run according to principles of the process of managing (Sznajder, 2012), which comprise its individual functions (Griffin, 2013; Kisielnicki, 2011; Mintzberg, 2012; Stoner et al., 2011). A sign of such an approach to issues of the completion of the sponsorship campaign is to lead them on the base on the prepared sponsorship program (Redwan, 2004). Preparation of a well-prepared program by an organization without experience in conducting sponsorship campaigns that would probably base on bench marketing (Goncharuk et al., 2015), should constitute the brightly worded sponsorship actions plan, in frames of which targets put before the campaign, its budget, the subject or subjects with which it is going to be cooperated with and the geographical reach of target markets, are being marked (Waśkowski, 2007). Next the sponsorship program should contain the instruction concerning the manner of the implementation of operations associated with the sponsorship, of integration of taken action with a comprehensive marketing strategy of the enterprise (Buczkowska, 2007) and of principles of establishing effects of investing in this form of the promotion (Datko, 2012). In frames of the last exchanged points of a sponsor program one should make a decision, whether the control of effects of the commitment to the sports sponsorship will be using the method consisting in the determining the value of the AVE. 2.1. Using Eye-tracking in Scientific Researches By using eye-tracker researchers can identify places, at which the examined looked in the space researchers are interested in (mobile eye-trackers) or in material possible to be shown on monitors (stationary eye-trackers). The possibility of getting into the process of the attention of the observer constitutes one of main premises being behind an application of eye-tracker in researches, but also in marketing (Duchowski, 2007). It is possible to single numerous areas of using eye-trackers out, to which it is possible to rank psychology, medicine, neurophysiology, social sciences, analysis of advertisements, sport researches etc. (Wawer, 2014). The entire research process using eye-tracker-type devices is based on the sense of sight, which anatomical and physiological aspects of functioning are described in numerous specialist studies (e.g.: Drake et al., 2010; Krechowiecki and Czerwiński, 2009; Netter, 2011; Rohen et al., 2012). From the point of drawing inferences from eye-tracking examinations a knowledge of the theory associated with the human memory is also significant (Zimbardo, and Gerrig, 2012; Kosslyn and Rosenberg, 2006). Articles being based on an application of eye-tracker turn up in contemporary literature in two essential aspects. One group of studies concentrates on describing of findings, which purpose is getting to know possibilities of contemporary eye-trackers and aspiring to formulation of principles of their correct application (Nyström et al., 2013; Scurr et al., 2014; Wyatt, 2010). The second group of examinations concentrates on the application of eye- trackers for realization of research goals corresponding to interests of individual areas of sciences. In this place examinations carried out in the area of marketing will be quoted, because this area corresponds with the application of eyetracker in the framework of own examinations presented in this article (Brasel, and Gips, 2008; Thomas-Smith, 2011; Vidal et al., 2013). Examinations using eye-tracker aspire mainly to the analysis of the move of eyeballs in the following areas: Fixations - places of stopping the eyesight, cascade - irregular moves, moves of heading (scan paths) and AOIs - areas of interest - areas being an object of the interest of watching people (Papenmeier, and Huff, 2010). In case of the fixation their length is being measured, however in case of AOI it is to be set how often the given area was situated in the focus of attention of examined people. On the base of the data set get thanks to examining the chosen attempt, which minimum number in case of examinations using eye-tracker is not significant and in cases of quality researches hesitates from 7 to 20, and in case of quantitative examinations takes 20 and more people out (Pasikowska, 2009), it is possible to begin the stage of the verification of constructed hypotheses and the drawing of inferences. 3. METHODOLOGY Being aware of stipulations appearing in terms of the legitimacy of using the AVE as the measure of results achieved by promotional campaigns and having data showing that despite these stipulations many Polish companies doing the promotional activity in the area of the sports sponsorship are based on this size, as part of own examinations it was aspired to achieve objective data concerning values of the AVE. The main purpose (CG) put before examinations was setting the real amount of the discussed equivalent, and hence getting to know the difference between its official and real value. Thanks to the realization of the assumed purpose data will be accessible, which will confirm or negate doubts associated with using the AVE by enterprises aspiring for knowing results of their promotional measures. For the main purpose proposed this way a thesis was suggested, which (with reference to the opinion of researchers skeptically set for using the AVE) assumes that the official value of the AVE is raised, and hence misinforms those responsible for assessment of undertaken promotional actions. The realization of CG, thanks to delivering of data concerning real Kot and Kucharski: Real Value of Advertising Value Equivalent in Sport sponsorship International Review of Management and Marketing | Vol 7 • Issue 1 • 2017 37 values of the AVE, will enable the accomplishment of the support purpose (CP), in frames of which it was aspired for establishing effectiveness of the promotional campaigns based on the sports sponsorship for enterprises taken into account as part of own examinations. Aiming at CG accomplishment the test procedure was to be based on the application of eye-tracker. Using it enabled to set the actual number of contacts of people watching video material shown during examinations with logotypes of enterprises chosen for setting the real amount of the AVE. Knowing described above principles of establishing the level of the AVE, this number constitutes the basic criterion enabling the formal value to verify it. It is caused by the fact that the procedure of calculating the AVE is based on a number of effective exhibitions and the number of people watching the given broadcast, not taking into account, whether a given person will whether will not notice the given exhibition. Therefore with consequence of applying the procedure enabling to set the actual number of contacts of watching people with individual effective exhibitions, there is a possibility of setting the real value of the AVE being based on a number of eye contacts with a logotype of a given brand. It can be done by the following scheme: RWE=WE×OK (3) Where, OK=RK/(LE×B)×100% (4) Descriptions: RWE: Real values of AVE in thousand PLN WE: Official value of AVE in thousand PLN LE: Number of effective exhibits OK: Percentage of contacts of TV viewers with the logotype of the brand appearing in the analyzed material RK: Sum of contacts with a logotype of a given brand all people examined by using eye-tracker B: Number of people examined by using eye-tracker. As can be seen from the quoted model, for the calculation the formal value of the AVE data concerning the real value of the AVE and number of effective exhibitions are essential, which data constitutes data set coming from secondary sources. Data generated as part of the own examinations based on the application of eye-tracker are: The sum of contacts with the logotype of the brand of all examined people and the number of them. Additional data set essential for the accomplishment CG and CP is associated with the need of getting to know costs incurred by enterprises in relation to promotional measures carried out and the number of recipients, to which the given form is addressed. Gathering above data is a factor determining the possibility of the realization of put purposes of research. In case of own examinations it was decided to set the real amount of the advertising value equivalent (RWE) and effectiveness of a promotional campaign carried out at using the sports sponsorship for 14 enterprises sponsoring MKS Dąbrowa Górnicza club 2013/2014 season. The condition of including the brand of the sponsoring enterprise in the group of categorized brands qualified for examinations was a possibility of obtaining the access to the full collection of required data. In relation to the clause of the confidentiality, universally turning up at sponsorship agreements in the reality of Polish sports market, categorized brands will not be given by name so that assigning the value of sponsorship agreements to the given brand will be impossible. So brands included in examinations will be named as Sponsor and indicated with letters from A to N. All needed secondary details were obtained on the basis of the interview conducted with the representative of the club. Their source, apart from values of sponsorship agreements, were marketing reports made available to volleyball clubs through the company managing the most important volleyball games in Poland, i.e., Professional Volleyball League S.A. Value of sponsorship agreements for the 2013/2014 season was set on the basis of an analysis of records of these agreements. Additionally together with the representative of the club television broadcasts of matches, which were included in examinations, were chosen. In 2013/2014 season MKS Dąbrowa Górnicza played 27 matches as part of national games aiming at selecting the Polish women’s volleyball champion. 18 of them were played during the first round, remaining 9 during the play-offs. In the analyzed season volleyball players of this club occupied 4 place. Out of all matches exclusively 8 was broadcasted on television by Polsat Sport, which is a main sports channel of the station having exclusiveness to broadcasting discussed games. Due to this as part of own examinations it was decided to consider all video materials from all 8 matches, from which MKS Dąbrowa Górnicza played 5 as host, and 3 remaining as the guest. The Table 1 presents all data from secondary sources essential for the realization of purposes of research. Value of sponsorship agreements of individual sponsors relates to the amount, which sponsoring enterprise handed over to the MKS Dąbrowa Górnicza in 2013/2014 season. Diversifying the value is connected with all sorts of sponsorship packages offered by the club (possibility of the lack of the exhibition of the logotype OD a given brand during away-from-home matches) and with uneven period of the cooperation, what is connected with the beginning of it by 5 sponsors already during the season. The consequence of it is a different number of people watching sports events with the participation of the club falling for individual sponsors. Sponsors, which cooperated with the club for the entire season and had right to the advertising during away-from-home matches were shown during all 8 matches taken into account in examinations. Altogether almost 930 hundred thousand persons watched these matches on TV. Remaining sponsors could show their logotypes exclusively during matches played by the club as the host. From this group of companies exclusively 2 brands were present at every such matches, thanks to it they got the accumulated number of viewers in front of TV sets on the level of 560 hundred thousand people. Remaining brands depending on the number of matches, in which they were shown, got total number of spectators on the level of 248 or 43 hundred thousand people. In the framework of presented examinations eye-tracker was used for setting the actual number of eye contacts of examined people with logotypes of chosen sponsors presented during watched Kot and Kucharski: Real Value of Advertising Value Equivalent in Sport sponsorship International Review of Management and Marketing | Vol 7 • Issue 1 • 201738 sports events. The data set of this type is essential for the SP accomplishment. A principle was adopted that every categorized film footage qualified for examinations had been introduced to 25 people what crosses the threshold of the minimal research attempt adequate to conduct quantitative examinations by 5 people at using eye-tracker device (Pasikowska, 2009). Every time examining was preceded by the process of the calibration of device, during which people qualified for examinations followed 5 points shown on the display screen with their eyes. After the verification and accepting results of the calibration, based on which the device encodes, which fragment of the monitor the examined person is looking at in the given time, presentations of material containing the analyzed sports show were being started. Consciously a purpose of research was hidden from examined people in order not to provoke respondents for conscious and unnatural turning of the attention to logotypes turning up at presented material. In this way is aspired for minimizing the risk of obtaining distorted data. Every respondent has participated exclusively once in examinations at using eye-tracker, what marks that he had an opportunity of watching exclusively one broadcast of the sports show. After examining 25 people for one transmission generating the data set allowing for setting the number of actual contacts of examined people with analyzed sponsors’ brands was being started. It was held at using software supporting eye-tracker, through which AOI areas were being established, and next statistics were being set for every AOI taking the number of the examined, who had a contact with the given area and a length of these contacts, into account. The number of AOI areas for a given brand of the analyzed sponsor corresponded to official figures passed on to Polish volleyball clubs through PLPS in the scope of the number of effective exhibitions of the logotype of the given brand during the analyzed sports show. One should understand determining the effective exhibition as the exhibition lasting at least for a second, containing minimum 80% of the space of the logotype and being characterized with the clarity and the good visibility. Setting the number of effective exhibitions of logotypes of sponsors during the broadcast of matches Polish male and female, first-class volleyball league is being fulfilled by the research agency, which serves PLPS in this matter and applies quoted criteria for establishing effective exhibitions. Selecting respondents to own examinations it was decided to rely on findings conducted in 2012 to the order of PLPS, which goal was characterizing the fan of the volleyball in Poland. Since form directed by brands sponsoring Polish volleyball clubs is being addressed to fans of this sports discipline, it was been found advisable to invite people corresponding to the profile of the fan of this discipline to the group of respondents. Quoted examinations say that fans of the Polish volleyball are both women (50.1%) as well as men (49.9%), people in the age from 19 to 59 years with over 30% participation of people in the age up to 29 years, having mainly secondary or higher education (87.2%) representing different geographical areas of the country and occupations1. 4. RESULTS AND DISCUSSION In Table 2 presented below data for individual brands of sponsors in the percentage of contacts of viewers with the logotype of the brand appearing in analyzed material (OK.) established on the basis of results of own research carried out with eye-tracker were presented. Having the value of OK. and relying on data placed in Table 1 at the same time it was possible - using suggested methodology - to establish the real value of the advertising value equivalent (RWE). These values for each of analyzed sponsors were also presented in Table 2. OK. values described in the Table 2 are collective values taking into account all sports shows analyzed as part of examinations and consist weighted average of OK. value get by individual sponsors as part of every individual show. One should understand this value as the percentage of eye contacts of people watching analyzed sports shows with effective exhibitions of the logotype of given sponsor. For example A Sponsor was exhibited during 4 of analyzed sports shows. Number of its effective exhibitions in frames of the I Match were 23, of the II - 11, of the III - 11 and of IV Match - 14, what altogether give 59 effective exhibitions. Individual matches attracted the following number of spectators in front of TV sets: I Match – 187.32 thousand, the II – 83.65 thousand, the III – 1 Profile of a volleyball fan in Poland. Report from quantitative research conducted by Pentagon Research in 2012. Table 1: Secondary data essential to calculate the real value of the AVE (together for 8 matches) and effectiveness of the sports sponsorship Sponsor’s indication Official value of AVE (thousand PLN) Number of people watching sport shows (thousand) Number of effective exhibitions Value of sponsorship agreement in 2013/2014 season (thousand PLN) A Sponsor 30.34 435.62 59 16.35 B Sponsor 182.83 928.32 364 50 C Sponsor 118.63 928.32 254 100 D Sponsor 15.76 248.3 43 20 E Sponsor 37.90 560.69 72 50 F Sponsor 499.86 928.32 1083 800 G Sponsor 46.94 248.3 127 60 H Sponsor 1.46 42.69 8 21 I Sponsor 192.80 928.32 417 200 J Sponsor 46.18 560.69 101 30 K Sponsor 5.31 42.69 29 181.5 L Sponsor 154.06 928.32 318 110 M Sponsor 261.1 928.32 567 1500 N Sponsor 99.77 928.32 201 100 AVE: Advertising value equivalent Kot and Kucharski: Real Value of Advertising Value Equivalent in Sport sponsorship International Review of Management and Marketing | Vol 7 • Issue 1 • 2017 39 121.96 thousand, the IV - 42.69 thousand; altogether all matches with the participation of A Sponsor watched 435.62 thousand people. In frames of each of matches A Sponsor could assume to get the limited number of eye contacts of TV spectators with its logotype. This number is being set on the basis of the product of the number of effective exhibitions in the given match and of the number of people watching a given match and it presents itself as follows: Match I - 4308.36 thousand, the II - 920.15 thousand, the III - 1341.56 thousand, the IV - 597.66 thousand. Altogether Sponsor A could count on 7167.73 thousand of contacts of this type. In Table 3 data allowing for setting OK. average rate for A Sponsor will be presented. Similar calculations were conducted for each of analyzed sponsors, which effect are OK. values presented in Table 2. The consequence of the determining of OK. value for individual sponsors was a possibility of calculating RWE value for them. Again for the example an equation allowing for the RWE establishment for A Sponsor will be presented. During its calculation, expressed above model will be used: RWE A Sponsor=30.34 thousand PLN×42.57%=12.92 thousand PLN (5) After substituting data referring to all sponsors to the assumed pattern results placed in Table 2 were received, which constitute the accomplishment of the main purpose of examinations described in the present article and allow for the verification of the main hypothesis. From the accepted methodology of setting the real value of the AVE resulted that it could not be higher than its official value. Therefore the maximal OK. value could amount 100%, what would mark that all effective exhibitions of the logotype of the given mark would be noticed by all people watching the given material. How findings show, getting such stat in the area of the advertisement connected with the realization of sponsorship campaigns is to say exquisitely difficult (it is possible to risk a claim that it is even impossible). An average OK. value equal to 25.76% at the standard deviation of 10.4% get by analyzed certificates it. Achieved OK. values directly submit themselves on the possibility of the verification the real value of AVE. Table 4 confronted values of official and real AVE with each other and set differences between both values for each of sponsors. Last column of Table 4 presents the level of raising formal values of AVE with regard to its value verified on the basis of findings. Table 2: Values of OK. and RWE for analyzed sponsors Sponsor’s indicator OK. (%) RWE (thousand PLN) A Sponsor 42.57 12.92 B Sponsor 29.76 54.40 C Sponsor 16.53 19.60 D Sponsor 13.82 2.18 E Sponsor 3.43 1.30 F Sponsor 35.65 178.21 G Sponsor 28.41 13.34 H Sponsor 32.00 0.47 I Sponsor 17.88 34.47 J Sponsor 27.00 12.47 K Sponsor 34.90 1.85 L Sponsor 25.70 39.60 M Sponsor 33.18 86.64 N Sponsor 19.80 19.75 Table 3: Data and calculations for A Sponsor used for the determination of OK. value for all analyzed matches Match indication Number of the examined (B) Number of effective exhibitions (LE) B*LE Real number of contacts of the examined (RK) OK.=RK/(B*LE) (%) Maximum number of contacts of spectators with the logotype Real number of contacts of spectators with the logotype including OK. Match I 25 23 575 246 42.78 4308.36 1843.23 Match II 25 11 275 102 37.09 920.15 341.29 Match III 25 11 275 129 46.91 1341.56 629.31 Match IV 25 14 350 139 39.71 597.66 237.36 Sum: 7167.73 Sum: 3051.19 OK. weigted average=3051.19/7167.73=42.57% Table 4: Comparison of the value of official and real AVE get by analyzed sponsors during of chosen sports shows (in thousand PLN) Sponsor’s indication Official value of AVE Real value of AVE Difference between official and real value of AVE A Sponsor 30.34 12.92 17.42 B Sponsor 182.83 54.40 128.43 C Sponsor 118.63 19.60 99.03 D Sponsor 15.76 2.18 13.58 E Sponsor 37.90 1.30 36.6 F Sponsor 499.86 178.21 321.65 G Sponsor 46.94 13.34 33.6 H Sponsor 1.46 0.47 0.99 I Sponsor 192.80 34.47 158.33 J Sponsor 46.18 12.47 33.71 K Sponsor 5.31 1.85 3.46 L Sponsor 154.06 39.60 114.46 M Sponsor 261.1 86.64 174.46 N Sponsor 99.77 19.75 80.02 AVE: Advertising value equivalent Kot and Kucharski: Real Value of Advertising Value Equivalent in Sport sponsorship International Review of Management and Marketing | Vol 7 • Issue 1 • 201740 In every case inflating is at the level of over 50%, in some cases exceeds even 90% what forces adaptation of the main hypothesis and orders to acknowledge that formal values of the AVE are raised, and hence misinforms those responsible for the evaluation of taken promotional measures. These people get information about it, how many their exhibition at the given medium could be worth, if all people, which use it paid attention to it. And so it is value not-corresponding to reality, because only conducting examinations with eye-tracker shows, what percentage of people, which have a possibility of the confrontation with the logotype of the given mark by using the given medium, will indeed have contact with it. In the context of CP realization establishing the effectiveness of the sports sponsorship for individual brands will be carried out at using the scheme: Real value of the AVE/costs of the sponsorship agreement = effectiveness of the sponsorship. This type of view constitutes a great simplification in establishing the effectiveness, because do not take into account effects different from the AVE, which a sponsor can get on account of made sponsorship campaign and which were introduced in in the earlier part of the article. However being aware that during control activities many enterprises are not making up their mind to make the effort of getting to know other effects achieved thanks to sponsorship campaigns, condemning themselves this way to establish the effectiveness on the basis of the media value, they decided on CP realization. Data letting for establishing effectiveness of conducted sponsorship campaign based on the official and real value of the AVE was presented in Table 5. Investigating above data one should be aware that since real values of the AVE for every sponsor were lower than its formal values, each of analyzed sponsors also got lower real effectiveness of the sponsorship campaign run by oneself. One should also take into account that presented values of the AVE refer exclusively to 8 analyzed matches, without taking into account alternative sources of the value of the equivalent so as retransmissions of matches, matches in other games than the ones which were considered, press photographs, articles on websites, etc. Therefore one should not treat described values of the effectiveness as ultimate values for individual sponsors, achieved by them in the 2013/2014 season. The balance sheet in Table 5 was presented in order to pay attention to the fact that being based on formal values of the AVE higher, often very beneficial effectiveness results are being achieved. However this situation change, when we take into account actual benefits get on account of the sponsorship in the contact of viewers with the logotype of the brand. Then the effectiveness often lowers in the significant way the way how it is in case of A, C, J, L or N sponsors. In these cases campaigns, which on the basis of official figures should be treated as effective (result over 100%), after considering findings become ineffective in some cases reaching the level of the effectiveness at only 20%. 5. RECOMMENDATIONS FOR FURTHER RESEARCH, PRACTICAL IMPLICATIONS AND RESTRICTIONS Presented examinations included exclusively promotional measures carried out by using the sports sponsorship. On their base one should confirm that the AVE is not an authoritative indicator of results of promotional measures. However continuing research works and including in it other media used by organizations as part of the promotion, like websites, social media, press, the advertisement based on the product placement it will be possible to establish, which from these forms generates the higher probability of getting eye contacts of people, to which it is addressed. In this way drawing the specific ranking of media in the scope of effective reaching target markets will be possible. From the point of view of those responsible for conducting the promotional activity of the organization, in it also for the realization of sponsorship campaigns, the most important message coming from presented examinations is a need of seeking methods of establishing results of undertaken promotional actions not based on the number of achieved exhibitions and of people, who may or not may be reached by the given message. Applying methods of this type can contribute to incorrect interpreting the effectiveness of individual actions and continuing them in spite of not-achieving deliberate objectives by the organization. In consequence organizations will be losing time and money as well as will be seeking causes of market failures in other areas of Table 5: Effectiveness of sports sponsorship based on the real value of AVE Sponsor’s indicator Official value of AVE (thousand PLN) Real value of AVE (thousand PLN) Value of sponsorship agreement (thousand PLN) Official value of the effectiveness (%) Real value of the effectiveness (%) A Sponsor 30.34 12.92 16.35 186 79 B Sponsor 182.83 54.40 50 366 109 C Sponsor 118.63 19.60 100 119 20 D Sponsor 15.76 2.18 20 79 11 E Sponsor 37.90 1.30 50 76 3 F Sponsor 499.86 178.21 800 62 22 G Sponsor 46.94 13.34 60 78 22 H Sponsor 1.46 0.47 21 7 2 I Sponsor 192.80 34.47 200 96 17 J Sponsor 46.18 12.47 30 154 42 K Sponsor 5.31 1.85 181.5 3 1 L Sponsor 154.06 39.60 110 140 36 M Sponsor 261.1 86.64 1500 17 6 N Sponsor 99.77 19.75 100 100 20 AVE: Advertising value equivalent Kot and Kucharski: Real Value of Advertising Value Equivalent in Sport sponsorship International Review of Management and Marketing | Vol 7 • Issue 1 • 2017 41 their activity. It does not mean of course that one should entirely give up establishing the AVE; however it should constitute one of elements of a wide range of used methods. One should however mark; against the popularization of examinations being based on an application of eye tracker stand their cost and the time consumption. Eye-tracker-type devices use to examine one person in the given time. Under the assumption that an analyzed material is a broadcast of the sports event, which can last for several dozen minutes till even a few hours, is it is possible to estimate that very process of the data collection requires many working days. In case of other media analysis of source materials can require the shorter time, nevertheless it is still connected with the need of the active participation of the researcher in the research process and unceasing using eye-tracker device, which is often exploited by the lease, constitutes the most important factor affecting costs of examinations of this type. REFERENCES Brasel, S.A., Gips, J. (2008), Points of view: Where do we look when we watch TV? Perception, 37(12), 1890-1894. Buczkowska, A. (2007), Sponsoring. In: Czubałowska, K., editor. Od Auditingu do Sponsoringu w Rachunkowości. Warszawa: Polskie Wydawnictwo Ekonomiczne. p235-259. Czarniewski, S. (2010). Ekonomiczne Mechanizmy Efektywności Komunikacji Rynkowej. Białystok: Wydawnictwo Wyższej Szkoły Finansów i Zarządzania. Datko, M. (2012), Sponsoring - Klucz Nowoczesnego Marketingu. Warszawa: Agencja Wydawnicza Placet. Demir, R., Söderman, S. (2015), Strategic sponsoring in professional sport: A review and conceptualization. European Sport Management Quarterly, 15(3), 271-300. Drake, R.D., Vogl, A.W., Mitchell, A.W.W. (2010), Anatomia. Podręcznik dla Studentów T. 3. Warszawa: Elsevier Urban and Partner. Duchowski, A. (2007), Eye Tracking Methodology: Theory and Practice. London: Springer. Goncharuk, A.G., Lazareva, N.O., Alsharf, I.A.M. (2015), Benchmarking as a performance management method. Polish Journal of Management Studies, 11(2), 27-36. Griffin, R.W. (2013), Podstawy Zarządzania Organizacjami. Warszawa: Wydawnictwo Naukowe PWN. Grzegorzek, A. (2010), Reklama. Warszawa: Polskie Wydawnictwo Ekonomiczne. Hagyari, P., Bacik, R., Fedorko R. (2016), Analysis of the key factors of reputation management in conditions of city marketing. Polish Journal of Management Studies, 13(1), 69-80. Halemba, P., Kucharski, M., Juchimiuk, M. (2013), Marketing Sportowy na Przykładzie Klubów Profesjonalnej Ligi Piłki Siatkowej. Katowice: Wydawnictwo Akademii Wychowania Fizycznego w Katowicach. Kee, C.P., Hassan, M.A. (2006), The advertising-value-equivalent (AVE) method in quantifying economic values of public relations activities: Experience of a publicized company in Malaysia. Kajian Malaysia, 24(1 and 2), 33-54. Kisielnicki, J. (2011), Zarządzanie projektami. Ludzie - Procedury - Wyniki. Warszawa: Oficyna a Wolters Kluwer Business. Kosslyn, S.M., Rosenberg, R.S. (2006), Psychologia: Mózg, Człowiek. Świat, Kraktów: Wydawnictwo Znak. Kot, S., Kucharski, M. (2015), Evaluation of sports events sponsoring results. Economic Annals-XXI, 1-2(1), 86-88. Kotler, P. (2005), Marketing. Poznań: Dom Wydawniczy REBIS Sp. z o.o. Kowal, W. (2010), Kontrola Skuteczności Marketingowej - Problem Zmienności Interpretacji i Pomiaru. Wrocław: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu. Krechowiecki, A., Czerwiński, F. (2009), Zarys Anatomii Człowieka. Warszawa: Wydawnictwo Lekarskie PZWL. Kuc, B.R. (2002), Teoria i praktyka kontroli w zarządzaniu. In: Kuc, B.R., editor. Kontrola i Kontroling w Zarządzaniu. Tendencje, Koncepcje, Instrumenty - Część 1. Warszawa: Wydawnictwo Wyższej Szkoły Zarządzania i Marketingu. p5-10. Kuc, B.R. (2009), Kontrola Jako Funkcja Zarządzania. Warszawa: Difin. Kuchta, D. (2011), Zagadnienie Czasu i Kosztów w Zarządzaniu Projektami. Wybrane Metody Planowania i Kontroli. Wrocław: Oficyna Wydawnicza Politechniki Wrocławskiej. Macnamara, J. (2000), The ad value of PR. Asia Pacific Public Relations Journal, 2, 99-103. Mintzberg, H. (2012), Zarządzanie. Warszawa: Oficyna a Wolters Kluwer Business. Netter, F.H. (2011), Atlas Anatomii Człowieka. Warszawa: Elsevier Urban and Partner. Nufer, G., Buhler, A. (2010), How effective is the sponsorship of global sports events? A comparison of the FIFA World Cups in 2006 and 1998. International Journal of Sports Marketing and Sponsorship, 11, 303-319. Nyström, M., Andersson, R., Holmqvist, K., van de Weijer, J. (2013), The influence of calibration and eye psychology on eye tracking data quality. Behavior Research, 45, 272-288. Pabian, A. (2009), Obszar oraz hierarchia działań integracyjnych w sferze promocji. Marketing i Rynek, 4, 2-6. Papenmeier, F., Huff, M. (2010), DynAOI: A tool for matching eye- movement data with dynamic areas of interest in animations and movies. Behavior Research Methods, 42(1), 179-187. Pasikowska, A. (2009), Tajniki eyetrackingu [HTML]. Available from: http://www.interaktywnie.com/biznes/artykuly/usability/tajniki- eyetrackingu-4554/. Pawłowski, J. (2014), Efektywność przedsięwzięć gospodarczych. In: Zagórska-Jonszta, U., Pęciak, R., editor. Dokonania Współczesnej Myśli Ekonomicznej. Racjonalność - Efektywność - Etyka. Problemy Teoretyczne. Część 1. Katowice: Zeszyty Naukowe Wydziałowe Uniwersytetu Ekonomicznego. p163-172. Puczkowski, B. (2011), Ocena Efektywności Inwestycji Publicznych w Rozwoju Polskich Przedsiębiorstw. Toruń: Wydawnictwo Adam Marszałek. Puczkowski, B. (2014), Efektywność Zarządzania Środkami Publicznymi. Olsztyn: Wydawnictwo Uniwersytetu Warmińsko-Mazurskiego. Redwan, T. (2004), Program sponsorski - sukces czy jego brak? In: Mruk, H., editor. Marketing Sportowy - Teoria i Praktyka. Poznań: Impact Consulting Sp. Z o.o. p55-61. Rohen, J.W., Yokochi, C., Lutjen-Drecoll, E. (2012), Atlas anatomii. Fotograficzne Studium Ciała Człowieka. Warszawa: Wydawnictwo Lekarskie PZWL. Safiullah, M., Pathak, P., Singh, S., Anshul, A. (2016), Social media in managing political advertising: A study of India. Polish Journal of Management Studies, 13(2), 121-130. Scurr, J.C., Page, J., Lunt, H. (2014), A methodological framework for capturing relative eye tracking coordinate data to determine gaze patterns and fixations from two or more observers. Behavoural Research, 46, 922-934. Stoner, J.A.F., Freeman, R.E., Gilbert, D.R. Jr. (2011), Kierowanie. Warszawa: Polskie Wydawnictwo Ekonomiczne. Sznajder, A. (2012), Marketing Sportu. Warszawa: Polskie Wydawnictwo Ekonomiczne. Thomas-Smith, C. (2011), Mall-Media viewing: We are what we Kot and Kucharski: Real Value of Advertising Value Equivalent in Sport sponsorship International Review of Management and Marketing | Vol 7 • Issue 1 • 201742 repeatedly do. Eye-tracking research shows how, when and where shoppers view advertising in malls. Insights, 18(1), 6-9. Vidal, L., Antúnez, L., Sapolinsky, A., Maiche, A., Ares, G. (2013), Can eye-tracking techniques overcome a limitation of conjoint analysis? Case study on healthfulness perception of yogurt labels. Journal of Sensory Studies, 28, 370-380. Waśkowski, Z., editor. (2007), Sport jako płaszczyzna komunikacji przedsiębiorstwa z rynkiem. In: Metody i Narzędzia Komunikacji M a r k e t i n g o w e j . G n i e z n o : G n i e ź n i e ń s k a Wy ż s z a S z k o ł a Humanistyczno-Menedżerska, Milenium. p85-98. Watson, T. (2012), The evolution of public relations measurement and evaluation. Public Relations Review, 38(3), 390-398. Watson, T. (2013), Advertising value equivalence-PR’s orphan metric. Public Relations Review, 39(2), 139-146. Wawer, R. (2014), Eyetracking w Przestrzeniach Edukacji Medialnej. Zielona Góra: Lubuskie Towarzystwo Naukowe. Wright, D.G., Gaunt, R., Leggetter, B., Zerfass, A. (2009), Global Survey of Communications Measurement. London: Benchpoint. Wyatt, H.J. (2010), The human pupil and the use of video-based eye trackers. Vision Research, 50, 1982-1988. Xuening, L., Pieter, J. (2012), Does advertising spending really work? The intermediate role of analysts in the impact of advertising on firm value. Journal of the Academy of Marketing Science, 40(4), 605-624. Zimbardo, P.G., Gerrig, R.J. (2012), Psychologia i Życie. Warszawa: Wydawnictwo Naukowe PWN. Zinger, J.R., O’Reilly, N.J. (2010), An examination of sports sponsorship from a small business perspective. International Journal of Sports Marketing and Sponsorship, 11(4), 283-301.