Profit From GM’s Global Marketing Shift
General Motors (GM) – while still nowhere near its heyday – looks like it’s doing the right things to continue its slow climb back. And currently trading at around $22, it could be the right time to get in. GM recently announced plans to partner with prominent soccer franchise Manchester United and forgo Super Bowl advertising, representing a shift to a more global marketing strategy. This increased global presence, as well as increasing confidence from investors, makes GM an interesting company to watch.
Partnering with Manchester United looks to be a great move for GM. Manchester United is about as big as it gets as far as global presence for sports teams, with fans all around the world. The move drastically increases the presence of GM’s brand in Europe, where Manchester United plays its games in England’s Barclays Premier League and the inter-European league of UEFA.
The football club claims it has 659 million fans throughout the world, 89 percent of which are outside of the Americas, the primary market of GM vehicles. Thus, it seems this is a great move to increase the global presence of GM’s brand in countries where companies like Toyota (TM) and Hyundai reign supreme. Of course, one must be careful not to be too bullish over sponsoring a sports team. However, as marketing pioneer John Wanamaker once said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” To me, this looks like money well spent. To continue reading, click here.