Friday, September 3, 2010

BP marketing spending budget exceeds $ 1 million per week

America wants BP to be doing every little thing possible to make certain it is taking care of the Gulf of Mexico oil spill it caused. The average citizen wants to know the corporate oil giant is applying its resources to repair the catastrophic damage done to jobs, tourism and the ecological balance. The London Telegraph reports that $ 1 million a week is being spent by BP just for TV advertising. That may go a long way toward mending BP’s corporate image, but the U.S. House of Representatives’ Energy and Commerce committee is looking for more than that.

More than $ 1 million a month in the last four months

BP has expressed its intention to cooperate with the demands of the House committee, yet no formal response has been issued. BP has spent even more on advertising. This has all been in network TV, cable and radio advertising. The money is cash that could possibly be spent helping with the cleanup instead. Advertising is important for BP right now. Unfortunately, $ 1 million a week is a “top kill” making it a little too much. President Obama explained: “What I don’t want to hear is, when they’re spending that kind of money on their shareholders and on TV advertising, that they’re nickel-and-diming fishermen or small businesses here in the Gulf who are having a hard time.”

Additional marketing in the Gulf Coast region

The cities which were directly hurt with the oil spill, all within the Gulf Coast region, are shown by Media Monitor to get the most saturation of BP advertising. The cleanup of the oil spill was advertised in five cities in Florida. Miami and Fort Myers are two of these cities that all were within the top 10 cities for BP to advertise at. But when it comes to marketing, some members of Congress, like Rep. Kathy Castor of Florida, believe that it is fine for BP to advertise. The gulf states are likely to be getting more tourism, including Florida. The advertising is making certain of that, although it may not really be helping BP’s image.

Details flow

BP appears to be marketing to let Americans know it is working on meeting the commitments it has made. There are two commitments that are top priority. Those are to service claims and keep cleaning up the spill. It is interesting to see that BP is watching its employees. Even the bottom line is being watched. How a brand is perceived is vitally essential to that line, so don’t expect BP to stop spending millions on self-serving advertisements unless Congress manages to shoehorn the disgraced giant into a confining set of orthopedic shoes with economically correct arches.

More on this topic

Telegraph

telegraph.co.uk/finance/newsbysector/energy/oilandgas/7969586/BP-to-admit-1m-a-week-advertising-spree.html

BP’s ad campaign – an academic perspective

youtube.com/watch?v=t1lM2gtg1gk



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