Fusaichi Pegasus is, by all accounts, one hell of a horse.

He's got the looks, the story (birthplace, yearling price, and race
record), and the best marketing engine in town spurring breeders and buyers to even greater throes of enthusiasm.

So, is it the horse's pedigree/performance that's generating the hype? Is it his first crop performance in the US? Is it the name of the stud that backs him? Or is it just the power of the advertising spend?

I'd suggest that there is another factor at play and that's PR.

Consider this: if I am standing on the street corner selling lemonade and tell you that it's the 'best lemonade you'll ever drink' you'll probably think "you're just trying to sell me something" and there's a good chance you won't buy my drink as you won't believe my claim. If the MEDIA reports that the lemonade is the best lemonade you will ever drink however you are more likely to want to buy it as the media's opinion carries far more weight and credibility than mine ever will (as let's face it - there are lots of people trying to sell us things every day and they all say that their product/service is the best).

What people don't realise is that a lot of advertisers work hand-in-hand with the media and a lot of stories run by the press are actually media releases generated by various companies. This isn't a bad thing - far from it. From the marketing perspective I am a much stronger proponent of PR than advertising when it comes to building brands. The lesson though is to realise that developing relationships with the press and being able to get the press to write about you is integral to building the profile of whatever it is that you are selling. Once PR has established your product/service in the audience's mind then the hard-core advertising campaign can kick in behind it and continue to support the image you have created.