Mind Over Matter: Marketers and the 2014 Olympics

The 2014 Winter Olympics in Sochi, Russia are now under way. Despite the security issues and many other concerns regarding Sochi, marketers are hopeful that their advertising and sponsorships will pay off. Sochi is dealing with multiple issues such as human rights, poor accommodation for athletes, and stray dogs. Regardless, companies still spent almost $1 billion on marketing expenses. Marketers believe that these ongoing issues will not affect the consumers, and in fact, they believe that consumers will be more drawn into the Olympics. Trudy Hardy, vice president for marketing at BMW of North America, argued that "people naturally come together" for the Olympics. BMW struck a six-year sponsorship deal with the United States Olympics Committee. In this year's Olympics, BMW will feature its new models such as the X5, M235, i3 electric car, and i8 hybrid.

John Maxham of DDB Worldwide also offered an opinion. "The Olympics has been no stranger to controversy. ... The strength of the Olympics is when the puck drops, the human story comes forward and the controversy recedes into the background.” Even though the negativity surrounding the Olympics is growing rapidly, marketers are maintaining their optimism. They are confident that the American pride and the U.S. gold medals will overcome all obstacles and draw customers. 

Reference: http://www.nytimes.com/2014/02/07/business/media/fingers-crossed-marketers-count-on-olympic-gold.html?_r=0