With high profile events such as the IPL and ICC World Cup scheduled in 2011, LG Electronics India (LGEIL) today said it will increase marketing spend on sporting events next year for brand building.
The company which has earmarked Rs 750 crore as total marketing spend for this calendar is spending a "significant" sum on sponsorship of sports.
"The sports calender for 2011 is packed with high profile events such as the IPL and ICC World Cup. We will spend money by sponsoring them and advertising during the events," LGEIL Chief Marketing Officer L K Gupta told reporters here.
He said, by the end of 2010, the company will spend Rs 750 crore on advertising and marketing related activities up 40 per cent from 2009.
When asked how much will the company spend on sponsorship of sporting events, he said: "It will see an increase in next year. A significant part of LG's total marketing budget is spent on sports." He, however, did not share specific numbers.
"The idea is to build the brand by associating with sporting event such as cricket and golf. The former enables us to reach out to mass market, while the latter helps in positioning LG as a premium brand," Gupta added.
It has tied up with Professional Golf Tour of India (PGTI) to sponsor a golf championship to be held in Noida this month.
The 'LG Race to Ireland' Pro-Am (professional and amateurs) championship announced today by LG in association with PGTI carries a prize money of Rs 50 lakh with an opportunity for winners to play at Pro-Am of the Irish Open in 2011.
