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PENNZOIL'S SPORTS SPONSORSHIPS TARGETING PREMIUM MARKET
Published March 26, 1996
Pennzoil is staking its '96 core motor oil strategy on a "technological superiority claim" and its sponsorships of the Indy 500 and NBC's Olympics coverage via $14M in media advertising, according to BRANDWEEK. This strategy marks Pennzoil's move toward "premium positioning," boosted by price discounting included in a Final Four rebate offer. Sports tie- ins help reach the 18-49 audience, and Pennzoil is using its Olympic broadcast ads to target female buyers, now about 50% of the company's total sales. Pennzoil will break a new spot on CBS' Final Four coverage Saturday to push sales of their 10W-30 motor oil. Valvoline, which is "pushing" the growing semi- synthetic blend oil category will have 14 spots on ABC's Indy 500 telecast, but lose in-track signage to Pennzoil (Steve Gelsi, BRANDWEEK, 3/25 issue). RACING NEWS: Sources say that Roger Penske, owner of Michigan Int'l Speedway Owner, is putting up an "estimated" $70M offering in Penske Motorsports Inc. which will be priced as early as today and available for investors for the first time on Wednesday (Dave Philips, DETROIT NEWS, 3/26).