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Buccaroo
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| Posted: Mon Oct 27, 2008 6:05 pm Post subject: Kodak ending its NASCAR sponsorship |
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Kodak ending its NASCAR sponsorship
2 hours, 47 minutes ago
Buzz Up PrintROCHESTER, N.Y. (AP)—Eastman Kodak Co. is ending its 22-year sponsorship in NASCAR and putting more sports marketing dollars into professional golf.
The photography pioneer, betting its future on electronic imaging, said Monday the realignment fits better with a new effort to highlight its brand digitally, such as on PGA Tour scoreboards.
Kodak also wants to engage more customers overseas since 60 percent of its sales are outside the United States.
Kodak said it is also ending a four-year sponsorship of Penske Racing at year-end.
Since signing on with NASCAR in 1986, Kodak-sponsored cars have won the Daytona 500 four times—with Ryan Newman’s car this year, Sterling Marlin’s in 1994 and 1995 and Ernie Irvan’s in 1991.
“Just as we have transformed our company, we are transforming our marketing,” said Betty Noonan, Kodak’s vice president of corporate marketing and branding. “We want to express our deepest thanks to our friends at NASCAR and Penske Racing for their partnership and support. We remain big fans.”
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