The Magma Group to Drive College Marketing Outreach for Daewoo
2 November 1999
The Magma Group to Drive College Marketing Outreach for Daewoo in Boston; Global Car Manufacturer Opens Boston Dealership, Seeks College Drivers
BOSTON--Nov. 2, 1999--The Magma Group, Inc. (www.magmagroup.com), which specializes in target marketing to college students through its unique, on-campus Team Magma network, announced today that it has signed an agreement with Daewoo Motor America, Inc., to promote Daewoo's line of automobiles on college campuses throughout the Boston area. Terms of the agreement were not disclosed."Daewoo has a great line of cars for college students, and The Magma Group is already moving to get the word out," said Michael Cohen, a B.U. graduate who is CEO and co-founder of The Magma Group. "Boston is just the perfect place to tap into this market. With such a 'college town' atmosphere, it is the ideal showcase for an effective college campaign."
Daewoo, which is unique in that it has factory-direct stores instead of franchises, recently opened its first Boston store on Commonwealth Ave. Daewoo will use The Magma Group's network of Boston-based college representatives to help promote its line of automobiles to the Boston student population and will work with Magma to create a "99-Day Test Drive Giveaway" in efforts to drive traffic to its showroom. Team Magma will also promote Daewoo's unique "College Financing," an interest-only, deferred method that allows students to pay the interest first and pay the principal after they graduate.
"Daewoo has always been focused on using direct marketing to reach consumers, and the college market is a prime target," said Richard Min, Marketing Supervisor of Daewoo's Massachusetts Region. "College students are generally receptive to new products but are notoriously difficult to reach. The Magma Group is essential to our efforts because it already has a direct line to these students and knows how to reach them effectively."
About Daewoo Motor America, Inc.
Daewoo Motor America is the newest division of the Daewoo Group, Inc., Fortune Magazine's Global 500's 16th largest corporation. While Daewoo may not yet be a household name here, it certainly is everywhere else. Daewoo's vehicles are sold in over 180 countries with the number one market share in 12 of them. And now Daewoo has arrived in the U.S. All of Daewoo's vehicles have been carefully developed with the help of technical centers in the United Kingdom and Germany, as well as with automotive experts around the world. Daewoo Motor entered the U.S. market in 1998 with the revolutionary vision of establishing the first network of factory-direct, company-owned stores built from the ground up--allowing its three models, the Lanos, Nubira and Leganza, to set new standards for world-class quality, value and customer service. Find Daewoo Motor America at www.daewoous.com or Daewoo Motor of Massachusetts at www.daewoo-ma.com.
About The Magma Group, Inc.
Founded in 1996 and based in Boston, Mass, The Magma Group is one of America's premiere full-service marketing firms solely focused on reaching and influencing America's college students. The Magma Group's unique blend of marketing services features Team Magma, a proprietary network of student organizations that span across 350 four-year colleges and universities nationwide. Team Magma gives the firm's clients including eBay, MyPoints.com, and AroundCampus.com a "grassroots" marketing channel into the college market for the purposes of building and maintaining student membership. The Magma Group can be found at www.magmagroup.com.
