It is irrefutably true that, these days, most companies are seeking different approaches, such as sponsoring sports events, to increase their sales. While some individuals opine that this approach is actually an effective marketing tool for the companies to promote their products, others believe that it has some major drawbacks. I bolster the former view and think that funding sports events is not only promoting companies primarily, but also providing a platform for all sports advocates and passionate players.
On the one hand, sports sponsorship is widely considered a lucrative industry, and there are several benefits associated with this marketing scheme. Firstly, it provides a golden opportunity for companies to promote their products within a large community more comprehensively, making a significant contribution to boosting the sales rates of companies. For example, BMW, which was the main sponsor of the last world cup, invested billions of dollars for sponsoring the football matches reached a record high in its sales after the seasons, according to the International Sports Journal. Secondly, when a company hits its sales target, their employees would also enjoy a better income through incentive programmes such as target related payments, leading to increased productivity. Furthermore, sports sponsorship may even contribute to the development of sports infrastructures in other countries, through the construction of sports stadiums especially in low-income countries, with the money raised from this advertising scheme. Finally, sponsoring sports events makes a major contribution to the global peace and reduced tension between countries as different nations participate in the events in a peaceful common platform.
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 seeking
different
approaches, such as
sponsoring
sports
events
, to increase their
sales
. While
some
individuals opine that this approach is actually an effective marketing tool for the
companies
to promote their
products
, others believe that it has
some
major drawbacks. I bolster the former view and
think
that funding
sports
events
is not
only
promoting
companies
primarily
,
but
also
providing a platform for all
sports
advocates and passionate players.
On the one hand,
sports
sponsorship is
widely
considered a lucrative industry, and there are several benefits associated with this marketing scheme.
Firstly
, it provides a golden opportunity for
companies
to promote their
products
within a large community more
comprehensively
, making a significant contribution to boosting the
sales
rates of
companies
.
For example
, BMW, which was the main sponsor of the last world cup, invested billions of dollars for
sponsoring
the football matches reached a record high in its
sales
after the seasons, according to the International
Sports
Journal.
Secondly
, when a
company
hits its
sales
target, their employees would
also
enjoy a better income through incentive
programmes
such as target related payments, leading to increased productivity.
Furthermore
,
sports
sponsorship may even contribute to the development of
sports
infrastructures in other countries, through the construction of
sports
stadiums
especially
in low-income countries, with the money raised from this advertising scheme.
Finally
,
sponsoring
sports
events
makes
a major contribution to the global peace and
reduced
tension between countries as
different
nations participate in the
events
in a peaceful common platform.
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.