The best way to sell the products is to do the Marketing and Advertisement. Majority of the companies nowadays sponsors various sport teams and sports persons to advertise their products and services in the market. There are several advantages and also disadvantages of sponsoring the sports teams and individuals such as good and increased sale of the products, create the good reputation in the market, products become more costly and many more which are further discussed deeply in the forthcoming paragraphs.
To begin with, doing advertisement of the product is the best way to increase the sale of the product and service, to launch a new product in the market, and to gain overall good reputation in the market. In this competitive era, many companies advertise and launch their products via sponsoring the sports team or a sport individual. This can lead to many positive outcomes such as increase of the sales of the product and service. People often copy what they see on social media and in advertisements. Selecting the famous sports team or individual to advertise the product can not only lead to great boost in the sales of the products but also can increase the overall reputation and the stock prices of the company in the market. People may buy the products because its their favourite team or player uses the product in their daily life and people always wants to copy the famous person’s lifestyle. Hence, they will buy the products even if they do not need it.
However, there are some drawbacks of advertising the products via famous sport team and individual. If the company selects the most famous sport personality such as Lionell Messi, Virat Kohli and many other players, would highly cost the company to advertise their products because the more famous person would charge more money to advertise the product. In the same way, the more famous sport team, will charge more money. Thus, the products and services would become more costly in the market compared to before advertised. Moreover, If the individual or the team does what they are not asked to do it could decrease the overall sales, reputation, and stock price of the company in the market. For instance, 2 to 3 years back when Christiano Ronaldo was giving the interview to the press at that time he switched the Coco-Cola soda bottle with the water bottle. This resulted overall decrease in the sales, reputation and stock of the Coco-Cola Company in the market.
In conclusion, advertising a product and services via famous sport team and sport person, have both positive and negative outcomes such as increased sale, and stock price, and products becomes costly, and if anything happens not in the favour of the company can reduce sales, reputation, and stock price of the company in the market.