Friday, December 10, 2010

Lotus-Renault F1 explained

Lotus CEO, Danny Bahar said that they need to develop brand because sports cars are not a necessity, the brand needs passion and emotion.

Lotus has a strong heritage in Formula one and it is a powerful marketing tool.

Danny says TV ads too fleeting and the company only has control over content creation.

Other racing activities include Lotus Series.

Hethel will be turned into Mecca for Lotus fun.

Motorsports part of marketing plan and also a profit centre. Client motorsports is already self sustaining.

To get similar exposure like F1 thru TV advert would cost hundreds of millions.

Renault chosen because it is third most prominent team and exposure.

Shell, ING and Lucky Strike enjoys great brand awareness increase.

For example ING was in for just one year and its global brand awareness increased by 13per cent

Lotus brand is strong but products not strong

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