Sport is becoming a business. More and more companies are getting involved in sporting events. Do you think that it is a positive or negative development?
Major sporting events attract millions of viewers. Needless to say, they have become quite popular with corporates trying to reach more and more customers. By sponsoring popular sporting events companies significantly improve their brand recall value. Nowadays, big corporate houses are not only sponsoring sports events; they are also buying sports teams. It is a win-win situation for both. Sport gets the financial assistance it desperately needs. Companies build their brands. However, this development, too, has some negative aspects. Let’s analyze.
Now that companies pump in millions of dollars into many sports items, talented players are eager to enter the field. This is a definitely a positive development. Sportsmen, at least those who play popular items, are now assured of a steady income. In the olden days, many sports persons weren’t earning enough to make a living. Prize money wasn’t good. Sponsorship deals hardly ever existed. This deterred many talented players from pursuing a career in sports. Now the situation is totally different. Corporate sponsorship has also helped many sporting events from becoming extinct.
On the flip side, when sports become a business, the focus can shift from talent to profit. Although big prize monies and sponsorship deals can attract fresh talent into the game, sometimes the same can lead to problems like match fixing. It is not uncommon for international cricket and football players to get involved in match fixing controversies. The pressure to perform can also compel many players to consume performance enhancing drugs. What’s more, the events that attract corporate involvement are already popular on their own. For example, in India cricket is hugely popular so companies are eager to sponsor cricketers. Players of other less popular events don’t have any sponsors.
After analyzing both sides of the argument, it is not hard to see that corporates entering the field of sports is both good and bad. Big prize money and sponsorship deals will definitely encourage more people to pursue a career in sports. On the other hand, companies will always have business interest in their mind. Sometimes this can take the focus off the game.
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Sponsorship Today Essay
2445 Words10 Pages
Introduction to sponsorship
Sponsorship is an important marketing tool for many organisations & is an important element of the promotional mix. Sponsorship involves the support of an event, activity, person, organisation or product by an unrelated organisation that may exchange money, services or goods in return for the association that the sponsorship provides. Sponsors choose events that attract their target market to enhance their brand reputation & awareness. A method of shaping brand identity, sponsorship can improve company image, raise company profile & generate awareness of company values. An integral part of marketing strategy, sponsorship is useable either as a single marketing activity
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Is the largest sector due to the huge audiences & media coverage it commands, however sponsorship tends to become more concentrated on the most popular sports that attract massive global audiences i.e. football, athletics, golf and motor sports. It is also good to be associated with success & companies will pay top athletes many thousands of pounds to wear their goods.
Has rapidly grown to become the second largest sector in the UK sponsorship industry. The main attraction for sponsors looking for mass appeal is the large audiences it commands. Both mass-market & minority programmes are sponsored, e.g. Stella Artois sponsorship of
CH4 movies. As companies sponsor more sports broadcasts rather than live events, broadcast sponsorship is set to overtake sports as the most valuable sector of the market. Sponsorship of rock concerts and festivals is increasingly common.
Sponsorship of the arts
Has less appeal that broadcast or sports sponsorship but Government initiatives such as the ‘Pairing Scheme’ have supported growth in arts sponsorship in recent years & the sector is expected to increase by 24 percent, to reach £113m in the year 2004 with theatre and museums at the top of the list. Over the past five years, commercial investment in blockbuster art shows, theatre and opera by