Auto makers must really be feely the strain these days, for GM will no longer be sponsoring the US Olympic team after next years event in Beijing, China.
Obviously there will be many reasons for this, but today’s auto makers need to be focused and in tune with what is going locally in order to survive, we have seen this with Ford, they continue to try and release the burden of owning foreign car makes.
Spending around $1 billion on the Olympic team, does seen to be a little excessive, granted the investment is going to be worthwhile in a moving market like China, but when the 2012 Olympics goes to London, then would GM have anything to gain from this deal? It is doubtful.
Sponsorship can mean different things to different people, consumers may see that by sponsoring the US Olympic team as being patriotic, and therefore feel that the brand is good, whereas on the other hand there are many small teams and fringe sports that are in the USA who could also benefit from sponsorship, this would also look good, because the money would be staying in the US and going to good causes.
There is a tight rope that large companies need to tread when it comes to sponsorship, as there is going to always be organizations looking for money, it is a matter of choosing the right ones at the right times.
Source [Auto Blog]
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