So, the king of all marathons, the New York City Marathon, or should I say the ING New York City Marathon takes place this coming Sunday, Nov. 5. The event has come a long way since its first race in 1970 when 127 marathoners competed running around Central Park. Now, the event is a five-borough affair that has become an extravaganza not only for the 37,000 competitors and people of New York City but also the corporate sponsors. Besides ING, the other sponsors run the gamut of corporate America, which includes Continental Airlines, the New York Times and a host of others. But what do these companies get in return? Instant advertising and name recognition for one thing. In a time when corporations are highly conscious of their images and the way they market to the public, sponsorship has become, in essence, a way to appeal to new customers as well as maintain existing ones. Just look at the goody bags runners receive before the race. The bag has treats from sponsors hoping to reach the minds and pockets of a runner, who according to a New York Times article have a household income of $130,000. Those are deep pockets that in the end sponsors hope will open up for their products. Just look at the 2006 World Cup. Adidas was a major sponsor to the tournament and the quarter following the event its profit
jumped 24% to €82 million ($105 million) with revenue up 60% to €2.43 billion. The results topped analysts expectations of a profit of €71 million on revenue of €2.36 billion. For ING and the other corporate sponsors - that's the kind of results they're hoping to see after the last runner has crossed the finish line. — Gerald Magpily
See NY Times articleSee Bloomberg article
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