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Managing the Marketing Process

   

Added on  2020-06-04

11 Pages2712 Words38 Views
MANAGE THE MARKETINGPROCESS

Table of ContentsTASK 1............................................................................................................................................1PART 1............................................................................................................................................1Background.................................................................................................................................1Key features of market program.................................................................................................1Key trends and strategic areas.....................................................................................................1Integration of various marketing components.............................................................................1Key strategic aspects of marketing programs and objectives.....................................................2Policy objectives for commercial initiatives...............................................................................2PART B............................................................................................................................................3Aim and objectives......................................................................................................................3Key stakeholders.........................................................................................................................3Communication strategy.............................................................................................................3Communication tools and Channels............................................................................................4General code of conduct..............................................................................................................4Feedback Mechanism..................................................................................................................4Role, responsibility and accountabilities of stakeholders...........................................................4Legislation...................................................................................................................................5Key performance indicators........................................................................................................5TASK 2............................................................................................................................................7Executive report..........................................................................................................................7Measurement of performance.....................................................................................................7Marketing outcome against objectives........................................................................................8Gap between fundamental objectives and reported marketing performance..............................8Performance review....................................................................................................................8Recommendations.......................................................................................................................8New emerging trends..................................................................................................................8Requirement of staff training......................................................................................................8Recommendations for future marketing strategy........................................................................8REFERENCES................................................................................................................................9

TASK 1PART 1BackgroundOlympic Winter games have been organized by TOROC in the year 2006. The mainmission of TOROC was to spread speciality of Torino and its mountains across the world.Another objective of organizing this Olympic games in the country was to valorise culture of thecountry. In this international game approx 2550 athletes have participated. In 16 daysinternational game 85 nations have actively participated. Key features of market programOne of the main feature of marketing program of Olympic Winter games waspromotional strategy of the marketer. Olympic broadcast partnership was the main element thathas helped in distribution of Olympic movements. Sponsorship, ticketing and licensing strategyof the marketer was quit effective that has supported in generating high revenues. In the ticktingprocess organizer has used random selection system. Apart from this providing additionalvouchers to the buyers that attracted many live audiences towards the event. Online selling ofticketing was another major feature that has made convenient for the public of internationalevent. Key trends and strategic areasDuring 2005 to 2008 top six brands have provided their full support to Olympic Wintergames in Turin. Top six partners of this international games were Coca Cola, Atos origin,Omega, Samsung, Kodak, Visa etc. This partnership have helped in meeting with therequirement of funds in organizing this international game in the country. Pricing was the main concern of authorities, they have ensured that people get tickets ofthe event at affordable market price. For marketing of the Olympic games authorities have usedbroadcasting method. They have communicated with the audience through internet. Internetsurfing has made this event more popular. People were allowed to book their ticket on itswebsite. Apart from this, tickets were sent directly to home address of the customer. Marketsalso provides vouchers to consumers. Integration of various marketing componentsMarketing components were integrated with the overall marketing objective of theOlympic game 2006. Olympic broadcasting was managed by International Olympic committee.1

After this event 49% of revenues that are generating by the game has been distributed toorganizing committee of this game. Rest 51% revenues were distributed to internationalfederation of Olympic sports. As the main objective of organizing this event in the country wasto generate more revenues thus, objective has been completely fulfilled because this hasgenerated US$833 million. Broadcast contribution to TOROC was US$408 million. This showsthat marketing has helped in meeting with the objective. TOP partnership was the main component of this marketing program in which many topbrand have become partners of this event. This TOP program has generated revenues of US$866.Domestic sponsorship revenues generated through this international game was 271.5 million.TOBO was the full service broadcast organization, TOBO has provided news of this game oninternational radio, televisions etc. Key strategic aspects of marketing programs and objectivesMain objective of market Olympic games was to generate revenues and attract peopletowards Torino. Spread culture of the nation across the world was another objective of this event.Promotional tactic was the main strategic aspect of this marketing program. For thatbroadcasting was used. Broadcaster or broadcasting partners of this marketing programs werenational broadcasting company, Canadian Broadcasting corporation, Korea Pool, Sevemnnetwork etc. Partnership was another strategic key aspect of this marketing program in whichmany big brand have participated in this event. Domestic sponsorship program was another keyaspect of this event, it was managed by TOROC. Tickets were available online and individualcan book it through its website. Selling channels of this event were Torino 2006 Call Center,National Olympic Committees etc. IOC has taken initiatives to circulate news of game bydifferent media channels (Torino 2006 Olympic Tickets, 2006). Policy objectives for commercial initiativesThe main objective was to conduct this international game commercially into the countrywas to generate more profit. Commercial initiative of broadcasting is managed by IOC. It wasdone to sharing of profit. After that 49% broadcasting revenues have been distributed toorganizing committee. Another policy objective for commercial initiatives in to attract morepeople towards the game. Partnership and sponsorship was the main element of marketingprogram. This has helped in enhancing brand image of these companies to great extent. This hasmade this marketing program of Olympic 2006 successful. 2

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