More local enterprises should take advantage of the Beijing Olympics and adopt cutting-edge marketing strategies to popularize their brands internationally, expert from the Institute of Beijing Olympic Economy has urged.

"Sports marketing has become one of the most effective of all marketing strategies. With less than two years to go before the Beijing Olympics opens, Olympic-related marketing has become the most significant tool to expand the influence of enterprises," said Du Wei, Vice Chairman of the Institute of Beijing Olympic Economy. Du was speaking at the Sports and Your Brand - China Media Challenge forum held in Beijing this week.

According to statistics from Groupm, China's top media planning and buying agency, the sports sponsorship market in 2005 was estimated to be worth US$24.4 billion.

Groupm reports that sports sponsorship accounts for about 80 per cent of global sponsorship activity each year.

Over the past two years, the Beijing Organizing Committee for the Olympic Games (BOCOG) has signed more than two dozen local sponsorship deals for the Games, raising more than US$1billion to help stage the world's biggest sporting event.

Du said the success of world-famous companies, such as Samsung and Coca Cola, should encourage local firms and urge the Chinese companies to learn from the advanced marketing practices of these multinationals.

"The 2008 Games is the best chance for local companies to expand their brand presence. But they should not simply add the Olympic logo or spirit to their brands and products," he said.

"The successes of international companies tell that an overall Olympic marketing plan should be set up. The profit will not come up in a short time after a company joins in a Olympic marketing programme. So the companies should be firstly focused on the promotion of a brand in different marketing ways."

Source: China Daily