In: Economics
Michael j Sandel teaches political philosophy in Harvard
University and his writing provides useful perspective about the
modern market and advertisement. According to Sandel, markets not
only allocate the goods but also express the attitudes and reaction
towards the goods. The advertising market of US is highly
profit-oriented and concerned about gaining projects.
The advertising form, including financial transactions in which a
corporation or other entity buys the right to name a facility or
event is called naming rights. The main feature of this is that the
entity which purchases has the right to market their products and
services to increase market share.
The naming rights prevalent in the athletics give a financial boost
to the players. The corporation has a great chance to assist their
brand and also the players gain high incomes, modern facilities and
increase team negotiating power. Also the smaller level sponsorship
agreements like t-shirts deals which encourage the teams to play
well to earn well. Moreover, there should be some limits to
advertising because this could also undervalue the sporting teams.
The fans might feel isolated if the corporate companies have a
negative image. The funds should be deposited in district accounts
and there should be an well-explained agreement of naming
rights.