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I don't understand how any business can benefit from paying $250,000 a year, or whatever it costs, for a right to put their name on a building. Do you think folks bought groceries at Bi-Lo because they saw that name on the side of the arena? Honestly, I would question any business that would commit to doing this, especially if I was a shareholder.
I don't understand how any business can benefit from paying $250,000 a year, or whatever it costs, for a right to put their name on a building. Do you think folks bought groceries at Bi-Lo because they saw that name on the side of the arena? Honestly, I would question any business that would commit to doing this, especially if I was a shareholder.
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One of the benefits that corporations are looking for when purchasing naming rights is general brand awareness. Every ticket, program, banner, and sign for all events -- non-sporting events included -- has their name on it. The biggest advantage, however, lies with the media coverage they receive.
With television and radio broadcasts, and national newspaper articles, the corporation has its name promoted every time the stadium is mentioned. This level of marketing would be especially beneficial to some of the newer and smaller corporations who have not had as much publicity as some of their competition.
Give me an example of two arenas with the same corporate name. I can't think of any. Wouldn't that be way to confusing when dealing with event managers, ticket agencys etc?
There has been a TD Arena in Orlando for almost 2 decades.
With all of the financial problems regarding affordable healthcare, and the pending onset of Obamacare, no responsible healthcare organization should waste thousands of dollars to place their name on top of some second rate arena. Hire more doctors and nurses, purchase better medical equipment, give your employees a decent pay raise. But don't waste money on some ill advised marketing gimmick. Shameful and stupid move. And fiscally irresponsible.
Plus most major concert venues go to Charlotte or Atlanta, so the BI-LO Center does not generate enough national publicity to make it worth paying thousands of dollars for the naming rights. It only receives limited regional exposure.
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