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August 18, 2016 02:00 AM

OTHER VOICES: Bridgestone capitalizing on Olympics

Crain News Service
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    AKRON — When you're talking about sports marketing, the Super Bowl reigns as the top event for immediate exposure, not to mention being one of the top dollar magnets for advertising.

    But if you're looking for an international event with a long-term impact on a truly global stage, it would be hard to argue against the Olympics.

    Bridgestone Corp. is banking on that appeal to pay off for its company and brands as it approaches its first Olympics as part of the Top Olympic Partners (TOP) program, an exclusive club open to only 12 companies. It requires a steep investment—which includes not only the TOP sponsorship fee, estimated to cost upwards of $200 million over a four-year cycle — but also the advertising and marketing costs needed to fund the initiatives to leverage the opportunity.

    Finding itself with some of the world's top companies and advertising spenders, Bridgestone looks at this as a way to build awareness for the firm around the world. It also believes the Olympics will help people associate the tire and rubber product giant with something bigger than just its businesses.

    The tire maker is two years into a 10-year TOP commitment that covers three summer and two winter Olympic games.

    After the upcoming competition in Rio, the next three Olympiads will take place in Asia, including the 2020 Summer Games in Bridgestone's home city of Tokyo.

    Just being a TOP sponsor doesn't guarantee that Bridgestone will meet its marketing and outreach goals. It does, however, provide a step up on the competition, ensuring worldwide International Olympic Committee rights, exclusive rights to use the Olympic name and the iconic five rings in its advertising, and exclusive advertising rights on NBC's Olympic coverage.

    Bridgestone is early in its push in the TOP program and won't gain full global activation rights until 2017. During the games, it has marketing rights in Brazil, South Korea, Japan and the U.S.

    And the firm's Bridgestone Americas unit has teamed up with six U.S. Olympic and Paralympic athletes, four of whom made the games.

    The firm, though, knows it will be years before it realizes the full value of its TOP investment. To put it in Olympic terms, Bridgestone's efforts definitely aren't the 100-yard dash, but truly are a marathon.

     This editorial appeared in Rubber & Plastics News, an Akron-based sister publication of Tire Business.

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