With its brand value rapidly rising, State Grid Corp of China has laid the groundwork for its next phase of development as the State-owned power giant continues to mature.
Its estimated brand value of 111.642 billion yuan this year ranks second among China's 500 most valuable brands.
The value increased 66.746 billion yuan in just one year, with Olympics marketing adding about 18 percent, according to Yao Lixin, vice-head of group's Olympic office.
The State-owned enterprise is also the world's largest public utility, so its marketing needs to satisfy both the company's development strategy and interests of the State, Yao said.
Building State Grid's brand through "Olympics social responsibility" also assists in national revitalization, he added.
As the first public utility in the world to sponsor the Olympic Games, the Paralympic Games and the Special Olympics, State Grid has carved itself a niche in marketing history.
Through intensive study and exchanges with experts, the corp developed an approach to Olympic marketing by reaching social responsibility goals, Yao said.
"Research for developing Olympics marketing helped the group accumulate rich experience and valuable knowledge on concepts, brand value and results," Yao said.
The studies have already laid a solid foundation for the company's future brand building and provided powerful support for further development of the State-owned enterprise.
Source: China Daily