Chevy Making "Significant" Spending Cuts To Sports Marketing
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Chevrolet Cutting Sports Marketing Spending,
Particularly On Promos For Core Sponsorships |
Chevrolet National Promotions Manager Phil Caruso said Saturday night the carmaker has made a “significant amount” of spending cutbacks to all its sports marketing, particularly with regard to promotions and other supplementary marketing in support of its core sponsorships. Caruso declined to specify a percentage for the total reductions, but parent company General Motors -- facing plummeting auto sales and a stock down by 76% this year -- in July announced a $10B corporate cost-cutting program. More specifically, GM this summer reduced its track relationships in NASCAR, announced last month it would not run a commercial during the Super Bowl in February, and is now ending partnerships with smaller properties such as skiing and ceasing promotions around college sports. “We have to show results for everything we do, and we’re reducing waste wherever we can and making our buys be a lot more efficient for us, including baseball,” said Caruso, in Philadelphia over the weekend to help present the Chevy-sponsored Roberto Clemente Award to Cardinals 1B Albert Pujols. Of particular focus now for Chevy is reaching younger and female consumers. “The economy is making us re-look at everything we do,” Caruso said. “It’s cutting back mainly spending in the sports area and promotions as a whole, and then reallocating in some of the areas that help grow our business.” GM’s '08 stock decline is the largest among the 30 companies comprising the Dow Jones Industrial Average (Eric Fisher, SportsBusiness Journal). Caruso: "Baseball is one of the properties that we use as a very effective tool to help us grow our business" (BLOOMBERG NEWS, 10/27).
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