We all know that marketing is one of the most essential areas of business. No matter how good your product is, if no one knows about it because your marketing is poor, you cannot make money.
Increasingly, sports marketing is becoming a popular way to advertise a company's goods and services. For an annual fee, you can have your company name on the shirts that sporting team or individual wears.
As sports are incredibly popular on TV, having your company name on a shirt or cap means that millions or even billions will associate your company with the sport.
Sports marketing is not cheap though, so some companies try other types of visible marketing such as putting their company name on tall buildings, or by supporting arts and musical events.
The two most lucrative sports marketing events are the Olympic Games and the Football World Cup. If you can wait four years and have a large enough budget, by sponsoring these types of events, you can virtually ensure that the entire world will know your company.
Beth: Did you watch the game last night?
Sally: What game? You know that I don't watch much TV.
Beth: The team that our company sponsors was playing.
Sally: Oh! I got an email about that but forgot all about it. Did we win?
Beth: No, the other team beat us by a long way.
Sally: Will they have an affect on our sales and marketing campaign?
Beth: No way! The team might not be winners but the company is.
Sally: I just hope they win next time.
Beth: Don't worry - you will probably forget to watch them anyway.