This is the age of consumerism where people buy more than they require and spend more than they could afford. in such a scenario, sponsoring sporting events by multinational companies has come into vouge. One school of thought endorses this development, while the skeptics argue against, this essay delves into both contrasting arguments era a logical conclusion is evolved.
Analysis of the latter group reveals that such sponsorship surges the cost of products as companies are investing enormously for such endorsements, eventually the consumer have to pay increased price of the consumables and the many a time such endorsement health hazardous products and even gambling, say for example, branding of soft drink companies influences the viewers to consume cold beverages with high sugar content, such consumers are vulnerable to diabetes and obesity in the long run, while commercial of gambling draws the youth to the dark side of financial crisis, owing to such reasons such sponsorships should be banned.
However, in sharp contrast, the advocates of such sponsorships promote such initiative on the plea that the companies are able to generate their brand image globally that in turn proliferate their sales and profits. To cite an example, in my country, India, ‘Indian Premier League’ is endorsed by an Indian ‘Tata Group’ that stands as an epitome. Further, such promotions promote sporting activities and stimulate the youth to indulge into sport activities, success of Indian sports athletes in Tokyo Olympic could be attributed to such initiatives, For example, India won 17 Olympic medals few years back which is paragon of such cases.
Moreover, the sport those are outdated, are getting grounds due to such endorsements. For an instance, in my country, India, the sports like kabaddi and badminton have suddenly gained popularity owing to sponsorship to “KPL” and “BPL”, Lastly, the sports athletes are able to gain lucrative revenue out of such sponsorships.
To reiterate, such endorsements benefit the companies, sport athletes and the societies and its negatives could be nullified by banning health hazardous products and the gambling companies. Hence, I accord with the former group.