Module 1 - Case
Introduction to International Business; Global Marketing
November, 30, 2013
Olympic Games have made their innovative image in the field of sports. In 1896, it didn't have such popularity and proper strategy to earn monetary value. After a huge break, a new president Juan Antonio Samaranch appointed in 1980 and he was the first one, who created the financial independent for Olympic. In 1984, Sarajevo OCOG has signed 447 sponsorship agreements for making that year's Olympic Winter Games more successful. After this step, the door of making monetary value has been opened and developed year by year effectively. There was no brand symbol has made in 3000 year history ...view middle of the document...
The organizers of Winter Olympic Games 2006, has been established the brand image with quit an innovative and creative technique. The innovation is made into brand logo spicily, which increases the enthusiasm into sponsors effectively. The logo was made up with blue and white element that represent the 'T' initial of Turin (Romney & Robinson, 2004). The blue element represents sky and white represents snow and combination of both reflects Winter Olympic directly.
Place: The second element of marketing mix states the decision related to place where the business can be affordable, convenient, and suitable for customer and supplier. The Olympic Games has vast history with many locations, the organizers has taken Turin as the place where the games is going to played. This decision has been taken second time in Italy had good response in 1999 (Sugden & Tomlinson, 2012). The assessment of this place being quite successful as it has earned effective revenues at the end of the program.
Price: The third P of marketing mix is used by organization to decide suitable value in monetary term, which includes profit of all entities like, organization, supplier, customers etc. The pricing decision for any product or service must he enough high to cover cost to make profit but should be low enough to attract customers. The pricing decision of Olympic management in 2006 has been developed with both the consideration. The consideration of fee in Olympic was created with consideration of sponsors ability which has broadcasted the whole event effectively. In 2006 event, the game has made fee structure in a form, which has results a hug hike as compare to previous years. Around 540,000 products were sold commemorating, which has earned $17 million that were more than 10% above expectations (Zikmund & Babin, 2009).
Promotion: Promotion takes most important place in positioning of any product and service. To makes customers and target market aware regarding particular product or service so that they can make purchase as per the requirement. In terms of Olympic Games, the promotional strategy played important role as it has represented the whole event effectively. The organizers and management of 2006 Winter Olympic includes 12 sponsors, which have promoted even in 200 countries. The three type of sponsor were included in these event main sponsors, official. Also the promotional strategy of this event contains a theme "Passion Lives Here" which enthusiasm people quite effectively (Bell, 2008). The creative symbol was also an innovative step of this event which has...