Hyundai India to expand spending on advertising

Hyundai Motors India has said that they are planning to double its advertising and marketing spends by 2008.

This would help them to take on rivals in the market including Maruti Suzuki and Tata Motors who are going to enhance their product portfolio in the coming months.

Tata Motors would be coming out with their Rs. 1 lakh car in 2008 and Maruti would have a couple of new products including the Swift Diesel and updated Esteem and Baleno models.

Hyundai is also going to diversify its presence in India by launching separate sports management and event and promotions division.

The company is considering roping in sports stars in addition to spending money on sponsoring sporting events. Steve Jun, executive director and global division head for Innocean Worldwide spoke about their plans: “Hyundai is sponsoring major sporting events like FIFA World Cup soccer, Davis Cup and Motor racing through Innocean’s sports management company in Korea. We have plans to bring it to India as well.”

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