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Consumer Goods Company Eyes Sports Sponsorship

Patanjali showing interest in bidding for title sponsorship in sports event IPL.

Culture Compass
Culture Compass
4.5Good
GenderFemale, Male, Other
Age BracketYoung Adults, Grown Ups, Middle Aged
GeographyIndia

#Vocalforlocal is the new mantra in town. One must wonder, what it actually means, in simple words, it aims to promote local businesses and Indian based company. This initiative by the prime minister of the country is mainly due to lessen the dominance of foreign brands on the Indian market and to boost the Indian economy. However, there are very few brands in India that are big enough to promote itself and create its lasting impression. One such brand is Patanjali by Acharya Balakrishna whose spokesperson declared that the company is coming forward to become a title sponsor for Indian Premier League, 2020.

Indian Premier League, IPL, which is going to be conducted in the UAE from September 19 to November 8, has lost its title sponsors which earlier was Vivo India due to amid bilaterally political tension. This has led to the BCCI release issue an expression of interest for the title sponsorship with a precondition that the interested third party must have a turnover of Rs. 300 crores or more as per their last audited accounts. Thus, Baba Ramdev’s Patanjali Ayurved is “considering” making a bid for the title sponsorship of the upcoming Indian Premier League (IPL) 2020. The officials have evidently said that if any home-grown company comes in, it will only help the league this year, forced to go overseas due to the pandemic.

References – Hindustan Times

Culture Compass
4.5Good
Patanjali’s image has been quite on the negative side lately due to its misleading of its customers by selling “natural products”. Moreover, with selling Coronil, A so-called vaccine of Covid-19 without any certified testing has put the company in the tough spot in the market. With IPL title sponsorship, the brand will get access to global marketing platform and to attract millennials towards the brand in the name of Ayurvedic and nature-based products. The company also has a vision of exporting its products to all over the world. This will cause a big hole in the company’s pocket but can work wonders for it as this cricket tournament gets massive attention worldwide.

Breakdown

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  • Inventiveness 3.0
  • Engagement 5.0
  • Human Centricity 2.0

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