According to one source, the Chinese are spending $835 million to sponsor the global event. American companies spent less than half that amount. China sees the World Cup as providing the right context, conditions, and circumstances to launch a global marketing campaign which is something that Chinese companies badly need. China is trying to take its “Made in China” campaign to the world market. This opportunity is seen as a chance to compete effectively with established brands from the U.S., Japan, and Europe. As an example, only one Chinese company, Huawei made it to the Forbes 2018 worlds most valuable list. The list is filled with mostly American brands, of the top ten brands on the list, eight are American, with the remaining two made in Japan and Korea. For Huawei it is seen as a victory to have made it on the list for a second year in a row. Just five years ago there were no Chinese brands on the list at all. If the Chinese are to compete in the global market, they must take a lesson from the big American brands. They must be innovative, develop unique product offerings, and have products that add unique value for consumers who have a choice. But will spending big bucks at the 2018 World Cup help more Chinese brands make it to the top tear of the consumer world? Spending big bucks to sponsor global events will most likely create a buzz for Chinese products, but the buzz will soon wear off and all that will be left is for the products to stand on their own against established and seasoned competition.]]>
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