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Olympic sponsors go for gold
From CNN Correspondent Jill Neubronner
HONG KONG, China (CNN) -- When the long-awaited emblem of the Beijing Olympics was unveiled in a lavish ceremony earlier this month, it was regarded as a milestone in China's staging of the 2008 games. It also marked the beginning of another intensive and sophisticated Olympic marketing campaign. The stick-like figure on the logo is a multi-million-dollar commodity Olympic organizers hope will more than cover the estimated $1.6 billion dollars Beijing forks out to host the world's biggest games. "The new logo will represent the identity of China," Michael Payne, marketing director of the International Olympic Committee (IOC), said. Television companies and sponsorship licensees around the world will use it to identify China's games, he added. Since the Olympics became a fully-fledged commercial proposition in the 1980s, multinationals have lined up to attach their high-profile brand names to Olympic logos. Samsung Electronics, for instance, first spotted the profitable marketing opportunity during the Seoul Olympics in 1988. The Beijing Games will be the fifth Olympics the company will have backed with both funding and technology. Samsung managing director Young Ha-kim said the company has reaped the benefits of this type of sponsorship. "During the past two years, we have more than 40 percent increase in sales revenue," he said. China is a tempting proposition for potential sponsors wanting to get a foothold in perhaps the largest remaining untapped consumer market. But one brand auditor warns there could be pitfalls. Peter Jeffery of Superbrands says non-official sponsors cleverly position their brands "through ambush marketing," giving them time, space and consumer enthusiasm. "These companies pay a fraction of what the official sponsor paid and yet they are getting a fair return on investment," he said. Being an Olympic sponsor may give a company the inside track to millions of consumers, but it doesn't guarantee marketing gold. The IOC says sponsorship interest has never been higher than for the Beijing games, suggesting companies are betting it's better to run and lose than not to run at all.
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