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Hero Moto Corp pulled out as a major sponsor in the Indian Premier League
HMC which has been a long time sponsor in the cricketing arena and also been sponsoring teams of the IPL for the last few years has finally pulled the plug on the IPL contact.
The company is still associated with sports though. It is the title sponsor of the Indian Open one of the biggest Golf Championships. It recently also decided to sponsor the Hockey India League. It will also reportedly be sponsoring all tournaments held by FIH, the Indian body for Hockey.
Company Statement -
With Hero's slow but sure shift away from longtime mainstay cricket to other promising sports a pattern emerges. The exposure gained from advertising in cricket might not be good value for money anymore for Hero. Also with the market in a slump,the company might not be willing to spend on cricket, when it can get decent exposure from series like the Hockey India League. Hero reportedly spent around Rs 175 crore on an image makeover exercise after splitting with Honda.
Sources:
Hero MotoCorp pulls out of IPL sponsorship
Hero pulls out of Indian Premier League sponsorship - cricketnext - IBNLive
Suzuki plans to raise mobike share in sales to 50% by 2015 | Business Standard
HMC which has been a long time sponsor in the cricketing arena and also been sponsoring teams of the IPL for the last few years has finally pulled the plug on the IPL contact.
The company is still associated with sports though. It is the title sponsor of the Indian Open one of the biggest Golf Championships. It recently also decided to sponsor the Hockey India League. It will also reportedly be sponsoring all tournaments held by FIH, the Indian body for Hockey.
Company Statement -
"We have been associated with cricket for over two decades, and it is not correct to say that we are now moving away from cricket. We at Hero MotoCorp are engaged in the promotion of several sports including golf, hockey, soccer etc. Our decision not to renew our central contract with IPL and with IPL team Mumbai Indians does not in any way dilute our commitment to cricket as a sport,"
With Hero's slow but sure shift away from longtime mainstay cricket to other promising sports a pattern emerges. The exposure gained from advertising in cricket might not be good value for money anymore for Hero. Also with the market in a slump,the company might not be willing to spend on cricket, when it can get decent exposure from series like the Hockey India League. Hero reportedly spent around Rs 175 crore on an image makeover exercise after splitting with Honda.
Sources:
Hero MotoCorp pulls out of IPL sponsorship
Hero pulls out of Indian Premier League sponsorship - cricketnext - IBNLive
Suzuki plans to raise mobike share in sales to 50% by 2015 | Business Standard
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