It is irrefutably true that these days most companies are approaching strategies such as sponsoring sports events to increase their sales. Some people opine that sports sponsorship is a great marketing tool to promote their products; however, others believe that this trend has tremendous drawbacks. I bolster the former opinion and think that this strategy is not only promoting the company primarily but also providing a platform for passionate players.
To begin with, sports sponsorship is considered as a lucrative industry across the globe. It is worth noting that it gives mutual benefits to both parties. While the company gets a golden opportunity to access a more comprehensive number of audience and increase their sales, sports committees get a chance to use that money to develop infrastructure and help the players financially. For example, Hyundai, who was the main sponsor of the last world cup cricket match, invested billions of monies in sponsoring the event and recorded an accelerated rate of sales turnover after the series. On the other hand, the International Cricket Committee used a larger portion of received money to develop cricket in low - income countries.
On the contrary, it is believed by some that advertising through sports events is a deceptive way of promoting commercial goods. With increased commercialization of athletics and other sports activities, there is a higher chance of sportsmanship corruption. Furthermore, it would result in impulsive buying as people would be encouraged to purchase products which they rarely use in daily life. For instance, people buy products just because it is endorsed by their favorite cricket player, Virat Kohli.
To conclude, funding sports events can be advantageous for both the parties, the sports committees and the company sponsoring them. Controversial issues and conflicts can be avoided if the companies sell quality products and the sports team plays honestly without adapting to any corruption methods like match-fixing and bribery.
It is
irrefutably
true that these days most
companies
are approaching strategies such as sponsoring
sports
events
to increase their sales.
Some
people
opine that
sports
sponsorship is a great marketing tool to promote their
products
;
however
, others believe that this trend has tremendous drawbacks. I bolster the former opinion and
think
that this strategy is not
only
promoting the
company
primarily
but
also
providing a platform for passionate players.
To
begin
with,
sports
sponsorship
is considered
as a lucrative industry across the globe. It is worth noting that it gives mutual benefits to both parties. While the
company
gets
a golden opportunity to access a more comprehensive number of audience and increase their sales,
sports
committees
get
a chance to
use
that money to develop infrastructure and
help
the players
financially
.
For example
, Hyundai, who was the main sponsor of the last world cup
cricket
match, invested billions of monies in sponsoring the
event
and recorded an accelerated rate of sales turnover after the series.
On the other hand
, the International
Cricket
Committee
used
a larger portion of received money to develop
cricket
in low
-
income countries.
On the contrary
, it
is believed
by
some
that advertising through
sports
events
is a deceptive way of promoting commercial
goods
. With increased commercialization of athletics and other
sports
activities, there is a higher chance of sportsmanship corruption.
Furthermore
, it would result in impulsive buying as
people
would
be encouraged
to
purchase
products
which they rarely
use
in daily life.
For instance
,
people
buy
products
just
because
it
is endorsed
by their favorite
cricket
player,
Virat
Kohli
.
To conclude
, funding
sports
events
can be advantageous for both the parties, the
sports
committees and the
company
sponsoring them. Controversial issues and conflicts can
be avoided
if the
companies
sell quality
products
and the
sports
team plays
honestly
without adapting to any corruption methods like match-fixing and bribery.