Any guesses as to what is the biggest mantra for this mind-boggling success of IPL is..... Well according to us it is....”Jo Dikhta Hai Wo Bikta Hai “. It is well said that “Nothing succeeds like SUCCESS!” No matter where (we are talking about the change of venues from India to SA), no matter rain or shine (difficulties faced in SA) the IPL has been a tournament to watch. The major factor contributing in the success of this tournament is that it has been successful in exploiting the EMOTIONS of us the INDIANS (For whom Sachin is no less than a GOD and cricket is a religion).
Strategy, Marketing, Advertising..... You name it and IPL has it for you! With this post we will be analysing the strategy being followed by IPL so as to promote the entities related to it and the event itself.
When it comes to strategies, a company can follow one of the two ways:
Ø To do something innovative which gives them the first movers advantage (Such companies are visionary in nature and comes up with the things which are totally new to the world, we will not be wrong if we call such companies to be CRAZY)
Ø To blindly follow a strategy which is already tried and tested but others present in the industry. (Companies following such strategies are traditional in nature and are adamant to any kind of change)
IPL according to us is following an innovative strategy wherein the different entities involved in it (broadcasters, team franchises etc) are very cleverly selling off their rights and other publicity instruments to the sponsors so as to get a greater return on their investment (and why not you get such an opportunity once in a blue moon). Our previous article Related Rights of Broadcasters – IPL threw some light on how the broadcasters are selling of their rights to gain maximum profits. Teams like Kolkatta Knight Riders are becoming the first choice of the sponsors because endorsing such a team provides them with two of the biggest celebrities of India: The Dada of Bengal and The undisputed King of the Bollywood at the price of one brand in the form of Knight Riders.
In order to understand the attractiveness of IPL from the sponsor’s point of view or rather the people who are pumping in money in it let us do a SWOT analysis of IPL.
To end with we can say that IPL and innovation are going hand in hand at present. New and new strategies are being employed by the different entities involved in it so as to get more and more return on their investment.
