Thursday, November 21, 2024

Business

Storyboard18 | How Vivo coming under ED scanner could affect brand, ambassador Virat Kohli & FIFA World Cup sponsorship

Storyboard18 | How Vivo coming under ED scanner could affect brand, ambassador Virat Kohli & FIFA World Cup sponsorship

Chinese smartphone manufacturer Vivo canceled advertisements for a while – on television and social media platforms – featuring the brand ambassador of Virat Kohli’s company. The move occurred after Vivo was under the radar of the Directorate of Enforcement (ED) on charges of money laundering. Advertising featuring popular Indian cricket players has been issued from the air while the brand faces supervision by the investigation agency.

As rival, in the first quarter of 2022, Vivo held a 15%market share. It highlights that Vivo is ready to enter the premium market segment and take people like Apple and Samsung.

In 2014 Vivo began to look into sports marketing while extending to markets in South and Southeast Asia. In 2016, Vivo canceled a strategic partnership with China National Basketball Association (NBA) as an official mobile handset sponsor.

In India, the company has a rollercoaster trip with the Indian Premier League (IPL). It has an offer around RS2.200 Crore for sponsor rights title from 2018-22, committed to paying around RS440 Crores every year, regardless of expenses for advertising, marketing, new launch, etc., in every IPL season.First in 2020, dealing with the Galwan Valley military between Indian and Chinese troops, this brand rested for a year after a national counterattack. At that time, Dream11 took over as a sponsor of the title.

Then the 2021 IPL season where Vivo returned as a sponsor of the title must be suspended because of the second wave of Covid-19. Vivo has been looking for a partner to work on the route out but cannot find a replacement. According to reports, the control council for cricket in India (BCCI) helps Vivo and Tata reach an agreement to seal the agreement and that is how the IPL arranged.

In 2017, Vivo signed a six -year contract with FIFA to become an exclusive smartphone sponsor for the 2018 Football World Cup and 2022. In May 2022, Vivo announced that they had partnered with FIFA Worldcup Qatar 2022 as official sponsors and official smartphones.

How is Vivo’s misery today affecting the image of the brand and sports marketing strategy in a year when this is the official sponsor of the Main Global Quadrennial Football Tournament that can be considered the biggest sports event in the world?

In accordance with business strategists and Harish Bijoor brands, all brands from China suddenly in difficulties and turmoil in India, and people can expect more.

Brands -brands wearing labels as long as they are below high investigation levels. He said, “Because more and more scandals come out, there will be images for this brand and support.”

Angel investors and business strategy experts, Lloyd Mathias feels reasonable for Vivo to pause advertisements given the ongoing investigation of the smartphone brand. “Also for Virat Kohli, this step helps protect his personal justice,” he added.

Vivo’s partnership with FIFA Worldcup Qatar 2022 will not be affected by this new development, Maroror feels, adding that “Event support abroad will not suffer as many domestic equipment, pictures and supporters of their brand.”

However, Mathias argues that this will depend on the results of the current investigation. Because the FIFA World Cup is still four months away, what is the impact of this new episode on the brand will be clear in the future.

If the investigation does not vomit something substantive, then it can return to the business as usual. Public memory is usually short -lived, and the target group that buys a phone does not always see problems outside the price feature, “Mathias concluded.

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