India Cements devising strategies for promoting brand through IPL
Corporate major India Cements will soon give shape to a well developed strategy for promoting its brand using the Indian Premier League (IPL).
India cements recently bought the rights for the Chennai team of Indian Premier League, Chennai Super Kings. There were concerns among its investors that spending huge money on such events would have adverse impact on company’s profit. Considering the investor apprehensions, India Cements recently clarified that they would use IPL matches for increasing brand presence all over India.
A recent report of the Deutsche Bank Securities had indicted that there existed apprehensions among the India Cements investors that spending on IPL will affect the company’s long-term growth plans and future use of cash.
India Cements, which is now aggressively expanding its presence nationally, believes that high momentum IPL matches would be a shot in the arm for reaching out to larger markets. The company’s market is now more restricted to the South Indian states. Realising that large markets lay in North India, the company is now setting up two plants in Rajastan and Himachal Pradesh.
However, the company is looking for options to increasing revenue from displaying advertisements on players’ helmets, sponsorships and television rights. It has already appointed South Indian cinema stars Vijay and Nayanthara as the team’s brand ambassadors. The first match of the IPL will be held in Chennai on April 23.