The creation of brand charm has always been a metaphysics, but choosing the right direction can always get unexpected results. Volvo, which has been sponsoring golf events for many years, is a great example.
This is the 27th year that Volvo has held hands on golf, and as the longest-running international professional golf tournament held in Chinese mainland, the Volvo China Open has been held since the first edition in 1995. The development process of the Open is not only a microcosm of the development of the entire Chinese golf industry, but also witnessed volvo's gradual growth into a luxury brand with connotations.
From December 16th to 19th, the Volvo China Open officially started in Shenzhen. Because of the impact of the epidemic, the success of this event is particularly precious.
As Mr. Pang Zheng, Vice Chairman and Secretary-General of the Chinese Golf Association, said at the pre-match press conference: "In the context of the current normalization of epidemic prevention and control, the volvo China Open can continue to be held, which is a great thing for the Chinese golf industry, and it will certainly play an important role for Chinese players to prepare for the 2022 Hangzhou Asian Games and even the 2024 Paris Olympic Games." ”
Choosing golf is a brand attitude
Safety, health and environmental protection have always been the brand values adhered to by Volvo from Sweden, and under the guidance of the "luxury with connotation" brand, it tries to bring a different Nordic lifestyle to domestic consumers.
As a representative of high-end events, golf is itself a sport rich in green humanities, and it is also a direct embodiment of Volvo Cars' unique luxury concept.
The aura of the two is very compatible. Golf is a very elegant sport that promotes safety, health, and exercise. This is very much in line with volvo's brand image and philosophy that it has always emphasized. Focusing on the crowd, Golf gathers more young and fashionable elites, which is highly consistent with Volvo's audience.
When golf was just emerging in the country, the high price was prohibitive for many people. The increasing number of practice courses and lower personal exchange prices have led to a real democratization of the sport. After the popularization of the sport, by creating a professional platform for top Chinese golf events, the continuous output of high-quality Chinese golf players has become an important goal of Volvo.
Ms. Zhao Qin, Chairman of the Board of Directors of Volvo China Open and Vice President of Corporate & Marketing Communications for Volvo Cars Asia Pacific, said at the press conference: "In line with the commitment of the China Golf Association, Volvo plans to further expand the Volvo Junior Tournament system in 2022, increasing the original Volvo National Junior Challenge to four, so that more young players who like golf and have talent have the opportunity to participate in the event. ”
In fact, not only golf, but also volvo in events such as the Qinghai Lake Ultra Marathon and the Chengdu Double Heritage Marathon. Support and promote the development of sports to build a safe, healthy and sustainable lifestyle for consumers. The sense of brand identity and market reputation gained from this is an important force for invisibly growing up.
Lead sustainable development and promote the implementation of electrification strategies
After making the brand image more concrete through a series of sports events, Volvo's development in the sustainable field is also actively promoting its comprehensive electrification strategy.
The luxury automaker proposed a full electrification strategy in 2017, becoming the first luxury car brand to propose full electrification. According to its plan, by 2025, the sales of pure electric vehicles will account for 50% of Volvo Cars' overall sales, and by 2030, it will become a 100% pure electric production and sales company, and in 2040, it will become a benchmark enterprise with zero climate load.
Under the "three-step" strategy, Volvo has a clear rhythm of technology and product landing. At last year's Guangzhou Auto Show, Volvo Cars' first pure electric vehicle model, the XC40 RECHARGE, was officially launched. After a year, the new pure electric C40 debuted at this year's Guangzhou Auto Show. Currently, whether it's the 40, 60 or 90 Series, Volvo offers a wide range of power options including light hybrid, plug-in hybrid and pure electric power.
All this is only 4 years since the brand proposed transformation. After the electrification of all products, Volvo proposed that half of its automotive products will be sold online in 2025 around areas such as business model innovation.
Specific to the market level, Volvo has also received a good response. According to the data, as of October, Volvo Cars maintained double-digit sales growth in the whole year, with a cumulative sales of 143,363 vehicles Chinese mainland, an increase of 10.5% year-on-year. Among them, the Volvo XC90 sold a total of 16,760 units, an increase of 27% year-on-year. From the perspective of global sales, Volvo Cars' pure electric models have accounted for more than 25% of sales, and the results of electrification strategy transformation are remarkable.
At the same time as the electrification, Volvo also completed an independent IPO. In October, Volvo Cars announced its listing on the NASDAQ Stockholm exchange, making it one of the largest IPOs in Europe this year and the largest in Swedish history in 20 years.
It is reported that Volvo's listing is closely related to the comprehensive electrification transformation strategy. Of the $2.3 billion raised by the IPO, 70 percent will be used for electrification and about 30 percent for improving its manufacturing capabilities.
Bell description
Under the big wave of electrification transformation, Volvo has not stopped moving forward. After the electrification of all products, in the face of the continuous influx of competitors on the track, the brand also needs to support safe and sustainable travel solutions, so as to return to the essential needs of the car, and the hidden attributes of safety, health and identity are the core. At this point, Volvo has paved the way with advanced awareness, and sponsoring golf events and enhancing brand value recognition is one of the best ways.