Several businesses advertise themselves by using sports sponsorship. It is often argued that it has positive effects on companies, while others believe that there are also drawbacks. This essay will examine both perspectives on this notion. Although the former view leads to developing the company’s brand visibility and involving the community, the latter view is more convincing to me because it influences the expensive cost of the companies, the scandal risk, and contradictory sponsorship.
Sports sponsorship fosters the company’s brand recognition in front of audiences. This is because individuals are more attracted to national and international sports, which is why using sports collaboration assists in developing the company’s publicity. For example, football and cricket are more popular sports all over the world; therefore, if any company advertises its business through these sports sponsorships, this company will be more visible to individuals. Furthermore, sports sponsorship bolsters community support, which enhances the business’s reputation. However, sometimes sports sponsorship causes the company’s popularity to decline.
On the other hand, sports sponsorships can be expensive for companies, which leads to a loss for them. The reason for this is that the return on investment is not always guaranteed because it relates to other factors. Moreover, the risk of a scandal could reflect poorly on the sponsoring company since sometimes they advertise through athletes who have negative publicity on social media. In addition, unpopular sports and controversial sponsorships are harmful for business, which is why I strongly believe that they have a detrimental impact on the company’s progress.
In conclusion, it is often thought that sports sponsorship is beneficial for the company’s prosperity, while others feel that it has some drawbacks. I strongly believe that sponsoring sports prevents the progress of businesses due to the cost, risk of scandal, and controversial sponsorship, despite having positive effects such as publicity and engaging the community.