Marketing should be an investment that produces a return, so it still has a role.
I'd query the thinking involved in sponsoring something in Cork though. People in Cork are going to use Cork Airport if practical. Where the airport needs marketing is in places like Kilkenny and Wexford that are equididtant from Cork and Dublin Airports. People in those places may not even be aware of which routes are available from Cork and be so used to using Dublin because of its greater route offering that they don't even check what is available from Cork.