The following article will analyse how firms utilise sports in order to way to further their own business.
The most common partnership between a business and a sporting organisation, particularly in soccer is for basic sponsorship deals. Whilst there are so many means for an organisation to sponsor a team or player, the many recognisable is being the main sponsor of the shirt. Shirt sponsorships are so prevalent and feasible that it is even a viable small business idea, although for smaller less well-known teams. Sometimes a certain football club will end up being synonymous with a brand because of a long term and iconic sponsorship, this is something that the Pirelli board achieved when partnered up with an Italian club side. There are loads of soccer tops that have been enhanced by a sponsorship deal and it has become somewhat of a fashion trend to purchase retro football shirts, the majority of which are iconic both because of the design but also the sponsorship on the front.
A very exciting and daring business move is to take over a complete sports organisation. A very profitable business idea that few companies have attempted is to buy out a football team and rename and rebrand it, as it offers the corporation with extra revenue. The Red Bull board have decided to make this move on multiple occasions. The beverage brand has taken over an F1 team and likewise a couple of football sides. The plan works pretty well for the brand since they're an energy drink, so it enhances their general market position and stance, therefore offering them with additional marketing. What likewise helps is that the business image of the company is of two bulls, which makes for a very fantastic sports logo as well, although many die-hard fans may not be too happy that their sports teams has been altered so greatly.
One of the biggest goals for a business is for it to end up being a household name. If a brand is known by the majority of a population then their marketing sector have done an amazing job. A feasible solution to attempt and attain this to sponsor some kind of sports team or organisation, a decision that would have been supported by the Telecom Italia board. The business plan to support an entire football division, which the telecoms corporation did, is not a little decision and would cost a considerable amount, even so the payback from it is unmeasurable. As they sponsor one of the top football leagues in the world, the brand name is today known by every single football fan, of which there are an incredible amount. The unique business idea to sponsor a league calls for a large amount of investment and influence, as the soccer governing body would not allow their division to be involved in a small or little-known business.