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In 2019 soccer club Real Madrid extended their shirt sponsorship deal with German brand Adidas in what is believed to be the most lucrative sports kit sponsorship deal in soccer history - Leaving Cert Physical Education - Question 2 - 2022
Question 2
In 2019 soccer club Real Madrid extended their shirt sponsorship deal with German brand Adidas in what is believed to be the most lucrative sports kit sponsorship de... show full transcript
Worked Solution & Example Answer:In 2019 soccer club Real Madrid extended their shirt sponsorship deal with German brand Adidas in what is believed to be the most lucrative sports kit sponsorship deal in soccer history - Leaving Cert Physical Education - Question 2 - 2022
Step 1
Define the following terms as they relate to sport: Sponsorship
Answer
Sponsorship in sports refers to a financial or in-kind support provided by companies or organizations to sports teams, events, or individuals. In exchange for their support, sponsors often receive brand exposure through advertising, logo placement on uniforms, and promotions. This relationship not only enhances the visibility of the sponsor's brand but also provides the sponsored entity with the necessary funds to operate and grow.
Step 2
Define the following terms as they relate to sport: Merchandising
Answer
Merchandising in the context of sports encompasses the strategies used to promote and sell products related to a team, athlete, or event. This includes items such as apparel, collectibles, and equipment that carry team logos or branding. Effective merchandising not only generates revenue for sports entities but also strengthens fan engagement and loyalty, as supporters often take pride in wearing team colors and displaying their affiliation.
Step 3
Discuss the impact that merchandising can have on sport.
Answer
Merchandising has a significant impact on sport in several ways.
Firstly, it provides a crucial revenue stream that helps teams and organizations fund operations, pay players, and invest in infrastructure. For example, clubs like Real Madrid earn substantial income from merchandise sales, which in turn allows them to compete at a high level.
Secondly, merchandising fosters a sense of community and pride among fans. When supporters buy and wear team merchandise, it cultivates a shared identity and passion for their team.
Additionally, successful merchandising strategies can enhance brand visibility and attract new fans, as merchandise often serves as a marketing tool. For instance, seeing merchandise in public spaces can spark interest among non-fans, leading them to engage with the sport.
In conclusion, merchandising not only boosts financial performance but also plays a vital role in fan engagement and the overall growth of sports.