Sunday, February 17, 2008

Companies take advantage of China's Consumer Market during Olympic Games

China Mobile, McDonalds, and Coca-Cola are top the list of the three brands spending the most on advertising during the Beijing Olympic Games, coming about this summer. The heaviest-advertised items during the Games usually include toiletries, food, and beverages (McDonald’s and Coca-Cola demonstrating this fact). These items have massively increased their advertising efforts compared to spending on the Games last year. Several companies even made a point to spend less throughout the year in order to reserve a set amount of the budget for the Olympic Games.

Hosting the Games in China has many companies optimistic, excited to reach the powerful, thriving consumer market located within China. With the Olympics located in the world’s third largest advertising market, companies all across the board are developing campaigns that will grant them huge exposure and access into this prosperous market that continues to grow. Especially with the state of the United States’ economy at present, such an international advertising opportunity is ideal.

Not only are the Olympic games beneficial to the advertisers but to China as well, contributing to the country’s huge market explosion. The expansion of the advertising industry, through the emergence of internet advertising and the new-found popularity of innovative outdoor advertising, perpetuates the growth of the consumer market.
With promising predictions that sizeable campaign efforts will pay-off, corporate sponsors are pleased with China’s hosting of the Summer Games. Companies are smart to allocate generous amounts of their budget towards the Olympic Games, especially at a time when international business is essential. With the current instability of the US economy, attempts to build brand awareness and acess abroad is becoming increasingly important. The fact that the Olympic Games are being held in China, one of the world leaders, sets up an ultimate campaigning prospect. Companies that can afford it are wise to be innovative with their methods of advertising as well as their message.

[Ye, Juliet. "Olympics Fuel Ad-Spending Surge in China." The Wall Street Journal 31 Jan. 2008, sec. B8: B8. Dow Jones & Company. 17 Feb. 2008 . ]

[Stamler, Bernard. "McDonald's pushes to get its money's worth on Olympics tie-ins." The New York Times 5 Sept. 2000. 17 Feb. 2008 . ]

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