Shadow
08-01-2012, 12:04 AM
Hoping to simultaneously lift its sagging global market share and boost brand awareness, General Motors (GM (http://quote.foxbusiness.com/symbol/GM/snapshot): 19.71, +0.35, +1.81%) made a huge splash this week by inking a jersey sponsorship pact with England’s Manchester United that is worth as much as an eye-popping $600 million.
The mega marketing deal, which is far more lucrative than Manchester’s current sponsorship with insurance broker Aon (AON (http://quote.foxbusiness.com/symbol/AON/snapshot): 49.20, -0.61, -1.22%), allows GM to emblazon the Chevrolet logo on the front of the soccer club’s iconic red jerseys.
For struggling GM, the landmark agreement is aimed at attracting the attention of the hundreds of millions of fans around the world who tune in to watch European soccer.
“There’s zero arguing the value of Manchester United and their global fan base in building a global brand,” said Kevin Adler, president and founder of Engage Marketing, a Chicago sports and entertainment marketing firm.
Read more: http://www.foxbusiness.com/industries/2012/07/31/can-european-soccer-revive-general-motors/#ixzz22GfUabJh
The mega marketing deal, which is far more lucrative than Manchester’s current sponsorship with insurance broker Aon (AON (http://quote.foxbusiness.com/symbol/AON/snapshot): 49.20, -0.61, -1.22%), allows GM to emblazon the Chevrolet logo on the front of the soccer club’s iconic red jerseys.
For struggling GM, the landmark agreement is aimed at attracting the attention of the hundreds of millions of fans around the world who tune in to watch European soccer.
“There’s zero arguing the value of Manchester United and their global fan base in building a global brand,” said Kevin Adler, president and founder of Engage Marketing, a Chicago sports and entertainment marketing firm.
Read more: http://www.foxbusiness.com/industries/2012/07/31/can-european-soccer-revive-general-motors/#ixzz22GfUabJh