As Per me businesses do get benefited by printing logo on products. From My personal Experience , I have rememebered so many company names by seeing the same name again ,as those were so prominent , It was just imprinted in my mind. Let's say Umbrella, it has such large imprint area that helps to print large logo . Same way drawstring bags and custom tote bags, it has large imprint area and it helped me to remember the name.
Just imagine , if someone buys grocery and use plastic bag with no logo printed they might forget the grocery store name, but if they are using plastic or canvas bags with company logo on it, it will help them to remember as visualization helps people to retain it for longer time. Another example is power bank , people keep this in the car for charging and it helps to brand your company. People use so much money in hoarding, tv advertisement . This is just peanut against it and also will reach to customer houses and remain their for longer time. TV ad comes and goes and people will watch only when they on the tv. I wouldn't say TV ad doesn't help, but promotional items are also economical way to promote your business.