Buffalo Wild Wings Citrus Bowl

For many years, corporations bought advertising time during college football games to promote their products. During the latter part of the 20th century, a new form of sponsorship emerged, as corporations bought the naming rights to most of these bowling games. The Sugar Bowl, Orange Bowl, and Fiesta Bowl are now known as the Allstate Sugar Bowl, the Capital One Orange Bowl (Capital One formerly held the naming rights to the Citrus Bowl), and the BattleFrog (formerly Tostitos) Fiesta Bowl. More than two dozen football bowl games have been named after corporate sponsors. Although many die-hard football fans complain about the practice, bowl organizers welcome the revenue generated through the sale of naming rights.

Question 1:

a. How does corporate sponsorship affect demand for the sponsor's product?

Response:

b. Why have so many companies bought naming rights instead of buying time to run commercials during soccer games?

Response:

Define the following concepts:

Demand schedules and demand curves

Answer the following question 2:

What explains the law of demand?

Response