Firms Rush to Win Olympic Marketing Medal

Firms Rush to Win Olympic Marketing Medal
By Jane HanStaff Reporter
The world's biggest sporting event coupled with the world's fastest growing consumer economy gives enough reason for corporations to fork out millions in marketing dollars. The stakes are high, but companies say the Beijing Olympics will be worth it.Samsung, GE, McDonalds, Kodak and Coca-Cola are among 12 global sponsors for the 2008 event, expected to be the most lucrative games ever, and each of them hold the rights to identify themselves with the most famous hoops in the world.``The Beijing Olympics is different from games in the past because China's economy has such explosive potential,'' said Lee Sang-hoon, a senior analyst at Marketing One. ``Even after the games are over, the audience will remember the brands and become dedicated consumers.''A survey by Ipsos MORI, a global pollster, showed that sponsors generate significant sales hikes compared to rivals in years Olympics are held. A study by the Ogilvy Group, an international advertising agency, indicated that the public awareness of official sponsors was much higher than services providers or ambush marketing.But all of these benefits are costly as each sponsor pours in about $55 million for the rights, and more to shoulder the cost of lucrative ad campaigns.Among the aggressive marketers, G.E. is going beyond print and television commercials, as it is adding the finishing touches to its two-story exhibit building in the middle of the ``Olympic Green'' complexSamsung, the only Korean sponsor, is beefing up its on-site campaign by delivering its primary message: ``Olympics=Samsung.''The only fast-food sponsor, McDonald's is prepping by building burger joints near and on the Olympic Green and airing new global television commercials.``Only one sponsor is allowed in each sector, so it helps to spread out the competition between sponsors,'' said Lee, who added the marketing race heats up more with unofficial sponsors stepping up their game, too.Among carmakers, Hyundai Motor says it will launch massive visual campaigns in Beijing that will directly appeal to potential buyers.``The approach companies are taking in China differs from the recent Games held in Australia or Greece because there are many more consumers,'' said Hyun Joo-min, a marketing expert at a local agency. Experts also say China's nonexistent brand loyalty also attributes to its attractiveness, as it provides ground for a fresh start.jhan@koreatimes.co.kr

Summary
Many companies are concentrating on the marketing about Beijing Olympic to improve their firms’ images or success in marketing. Marketing strategies operated by competitive companies during Beijing Olympic are more important than before because there are many consumers in China.

Opinion
Many companies in the world market are competing with other companies for their images or achievements in China which is performing a primary role in world market. Therefore, a period of Beijing Olympic is the best opportunity for global companies to communicate with Chinese. I thought Olympic is the biggest sports festival and global companies wanting to get the position in China’ market already knew about facts. China is opening Olympic means that Chinese economic level improved by the policy of the government intending the free economy and their life style was changed to spend more their money than before. So, Chinese want to get environmental performance and qualified buying activities. Companies in the world should consider these two points, investigate Chinese life, especially Sports style in these days, and prepare marketing about Chinese Sports. Olympic is not only world festival but also opportunity or threat for global market.