There is a significant mutual benefit in sports endorsements, partnerships, and sponsorship. The sports industry has a large attracting large crowds that fill stadiums and various sporting events, including the PGA (Professional Golf Association) Tour. I agree that many organizations affiliate themselves with sports like the PGA Tour and use the opportunity to promote various products and services. In the internet age where sports streaming is prominent, many companies take advantage of this opportunity to endorse popular sports and athletes who expose various brands to the numerous audiences they command. Sponsorships offer essential funding, which is channeled to sporting equipment and salaries.
I agree that the PGA Tour has numerous sponsorships, including FedEx, its chief sponsor. However, other significant sponsors like Coca Cola sponsor major tournaments such as the PGA Tour Champions. Other key sponsors of the PGA Tour include Fortune, MasterCard, Rolex, and Yeti. Most of the major companies that sponsor the PGA Tour like FedEx support major tournaments by providing funding and using the platform to push their brands on the massive audiences the games attract. I agree that when companies like FedEx sponsor matches, brand awareness creates more leads for the company and attracts new clients while retaining existing clients.
Delegate your assignment to our experts and they will do the rest.
Major endorsements in tournaments such as the FedEx Cup Champion improve the reputation of companies like FedEx, providing a competitive edge in the market against competitors (Viveiros, 2018). Partnerships and sponsorships benefit both parties involved financially and structurally. Not only does endorsements by sports such as PGA Tour increase brand awareness for the sponsors, but it also improves the corporate image and reputation of the brands. Companies sponsoring sporting events also get an opportunity to interact with the community and build relationships that provide opportunities for business growth. The beneficiaries, including sports clubs, companies, and athletes, increase their credibility and community growth, determining their compensation and value in the industry.
References
Viveiros, B. N. (2018, August 23). FedExCup PGA Sponsorship Engages B2B FedEx Customers . https://www.chiefmarketer.com/fedexcup-pga-sponsorship-helps-engage-b2b-customers/.
