Final answer:
Stadiums and arenas, such as Staples Center, adopting business names is an example of naming rights strategy used in sports marketing and place marketing for revenue generation and economic development.
Step-by-step explanation:
Stadiums and arenas taking names of businesses, such as "Staples Center" in Los Angeles, is an example of a strategy used to generate revenue for both the venue and the corporate sponsor through something called naming rights. This is a tactic in which a corporation pays money to a sports team or venue to have their brand name associated with the facility, often as part of a wider marketing strategy encompassing the sports marketing and place marketing sectors.
It's a component of broader efforts to use sports as a means of economic development, aiming to create jobs and stimulate business growth. Furthermore, this kind of naming is related to toponymy and is employed in place marketing, where the value of a location is enhanced by associating it with certain upscale or desirable characteristics.