Sport is an important part of healthy life and nowadays it is connected to marketing strategies, most of the companies use as a tool in order to endorse their products. The majority of the population thinks that it is a great thing to increase particular products sells, boost stock values and overall revenue in terms of the company’s prospect. However, others believe that it has a tremendous drawback in relation to consumers. In my opinion, definitely, it will impose negative aspects that might affect general people.
A sport plays a vital role in everyone’s life; recent marketing trends are changing radically in the sports industry because it is used as a marketing medium to sell products or services. Most of the people love sports, they stimulated to buy products/services and the companies use this thing as a tool to promote their products by backing sports events. For example, IPL Cricket matches are one of the most famous game events in India, which is organized every year in the month of spring. Around 90% of Indian companies sponsor IPL matches and displays their products/services in order to boost their sales which ultimately increase their revenues and financial prospects.
On the other hand, sponsoring sports events will encourage people to purchase things which they rarely use in daily life. In this case, people who are interested in sports will spend a huge amount of money on things related to sports they love and those we can count as un-necessary expenditure. For instance, according to a survey reported by the BBC news regarding general population spending in one month of IPL matches in 2018. The results were pretty shocking as people spend around 40% extra money as compared to other months expenses on things, which are connected with the Cricket. They are buying those all just because it is endorsed by their favourite team or a player and all IPL teams including players are sponsored by local or international firms.
In conclusion, sponsoring sports will definitely hike sports as well as company stocks. Nevertheless, in my opinion, it has too much downside in terms of the general public. It is simply a mind-diversion of people, which is encouraging them to buy services/products they really don’t need in daily life scenarios.
Sport
is an
important
part of healthy
life
and nowadays it
is connected
to marketing strategies, most of the
companies
use
as a tool in order to endorse their
products
. The majority of the population
thinks
that it is a great thing to increase particular
products
sells, boost stock values and
overall
revenue in terms of the
company’s
prospect.
However
, others believe that it has a tremendous drawback in relation to consumers. In my opinion, definitely, it will impose
negative
aspects that might affect general
people
.
A
sport
plays a vital role in everyone’s
life
; recent marketing trends are changing
radically
in the
sports
industry
because
it is
used
as a marketing medium to sell
products
or services. Most of the
people
love
sports
, they stimulated to
buy
products/services and the
companies
use
this thing as a tool to promote their
products
by backing
sports
events
.
For example
,
IPL
Cricket matches are one of the most
famous
game
events
in India, which
is organized
every year in the month of spring. Around 90% of Indian
companies
sponsor
IPL
matches and displays their products/services in order to boost their sales which
ultimately
increase their revenues and financial prospects.
On the other hand
, sponsoring
sports
events
will encourage
people
to
purchase
things which they rarely
use
in daily
life
.
In this case
,
people
who
are interested
in
sports
will spend a huge amount of money on things related to
sports
they
love
and those we can count as
un-necessary
expenditure.
For instance
, according to a survey reported by the BBC news regarding general population spending in one month of
IPL
matches in 2018. The results were pretty shocking as
people
spend around 40% extra money as compared to other months expenses on things, which
are connected
with the Cricket. They are buying those all
just
because
it
is endorsed
by their
favourite
team or a player and all
IPL
teams including players
are sponsored
by local or international firms.
In conclusion
, sponsoring
sports
will definitely hike
sports
as well
as
company
stocks.
Nevertheless
, in my opinion, it has too much downside in terms of the
general public
. It is
simply
a mind-diversion of
people
, which is encouraging them to
buy
services/products they
really
don’t need in daily
life
scenarios.