Nowadays, a growing number of sports events organized in various parts of the world, the corporate have found a new medium to advertise their products as sponsorship. It is considered an excellent strategy by a certain section of the society, because it caters to the masses and is also valuable for the new businesses. However, others believe that it has a lot of demerits. In my opinion companies should sponsor the sports for their growth.
There is a plethora of reason due to which companies are willing to sponsor the sports for their advertisements. Firstly, by doing this, the businessmen are able to make their products visible to a large number of people. For instance, Cricket has a huge fan-following in India due to which multiple companies bid for the team sponsorship. Secondly, sponsoring allows the newer firms to get visibility in an already over flooded market. To illustrate, by getting the sponsorship of a team in Kabbadi, any product may get the attention of the people, which it is not able to do otherwise.
On the other hand, some people think becoming a sponsor is not a great idea. One of the major reason is that, in involves a huge expenditure. Other marketing strategies may be able to do the same work in small sum of money like distributing pamphlets, advertisement on radio and so on. Another main issue with sponsorship is that it will not be targeting the desired customer base. For example, a cooking oil hoarding in any stadium is not a viable option as the audience for this are mainly housewives.
In conclusion, according to me there are both merits and drawbacks of becoming a sponsor for sports event as it covers many people at the same time and it is also beneficial for the companies who are trying to enter the market.
Nowadays, a growing number of
sports
events
organized in various parts of the world, the corporate have found a new medium to advertise their products as
sponsorship
. It
is considered
an excellent strategy by a certain section of the society,
because
it caters to the masses and is
also
valuable for the new businesses.
However
, others believe that it has
a lot of
demerits. In my opinion
companies
should
sponsor
the
sports
for their growth.
There is a plethora of reason due to which
companies
are willing to
sponsor
the
sports
for their advertisements.
Firstly
, by doing this, the businessmen are able to
make
their products visible to
a large number of
people
.
For instance
, Cricket has a huge fan-following in India due to which multiple
companies
bid for the team
sponsorship
.
Secondly
, sponsoring
allows
the newer firms to
get
visibility in an already over flooded market. To illustrate, by getting the
sponsorship
of a team in
Kabbadi
, any product may
get
the attention of the
people
, which it is not able to do
otherwise
.
On the other hand
,
some
people
think
becoming a
sponsor
is not a great
idea
. One of the major reason is that, in involves a huge expenditure. Other marketing strategies may be able to do the same work in
small
sum of money like distributing pamphlets, advertisement on radio and
so
on. Another main issue with
sponsorship
is that it will not be targeting the desired customer base.
For example
, a cooking oil hoarding in any stadium is not a viable option as the audience for this are
mainly
housewives.
In conclusion
, according to me there are both merits and drawbacks of becoming a
sponsor
for
sports
event
as it covers
many
people
at the same time and it is
also
beneficial for the
companies
who are trying to enter the market.