Corporates Look to Cash in on Indian F1 Race
Monday, 05 September 2011, 15:24 IST   |    2 Comments
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Corporates Look to Cash in on Indian F1 Race
NEW DELHI: As India prepares to host its first ever Formula One race, a host of corporates, including Bharti Enterprises, Mahindra & Mahindra, Hero Motors, Mercedes and Shell, are taking different ways to cash in on the craze generated by the mega event. According to media experts, the F1 race provides Indian firms with global ambition an opportunity to move to the next level of brand building. "It makes sense for corporates who have a global vision such as Bharti Enterprises...for India market, cricket is enough," ZenithOptemedia Senior Vice-President Navin Khemka said. He, however, said there is a limited opportunity as F1 is very expensive in terms of advertising and sponsorships and also the deals are done for the entire season and not for the Indian leg only. While Bharti Enterprises has picked up the title sponsorship for its Airtel brand for the Indian leg of the Grand Prix, Hero Motors has decided to sponsor the only Indian racer Narayan Karthikeyan. Mahindra & Mahindra, on the other hand, will be announcing on Monday an association with the Buddh International Circuit, the venue for the inaugural Formula One Airtel Grand Prix of India to be held on October 30, 2011. Looking to ride high on its sponsorship for the Indian leg of the F1 World Championships, Bharti has already launched promotional campaigns that include consumer engagement initiatives. The company is conducting auditions for the 'Airtel Grid Girls' reality show to shortlist 48 faces who will become paddock girls at the circuit. It is also running contests for people to win free tickets for the mega event. Hero Motors, on the other hand, is looking to leverage on its association with Karthikeyan, who will be driving for the HRT-Cosworth team. He is also being sponsored by the Tata Group, Base Batteries, Bharat Petroleum and MRF Tyres. "We will organise a lot of events and activities to promote our tie-up with Karthikeyan," Hero Motors Managing Director Pankaj Munjal said, adding that the racer will sport the company's logo on his F1 car during the race. According to JPSI Sports, which is constructing the 5.14 km long Buddh International Race Circuit at Greater Noida for the India leg, a host of corporates are keen to buy exhibition spots around the race circuit to position their brand names.
Source: PTI
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