The marketing outcomes was been supported with maximum revenue through significant coverage worldwide. Moreover, sponsorship has provided opportunities in media technology through an excess of multiple channels on internet, television channels and mobile phones (Guala, 2009 p. 21). However, through its merger it has not only helped in integrating TV rights but has also helped in providing synergies to increase the level of support from the partners (Billings and Ziegler, 2008 p.215). Moreover, the marketing outcomes also resulted in the enhanced brand image, positive brand attributes, high appeal and awareness while making contributions making on the worlds stage to increase sales and motivate employees at the same time.
Client Service Grid
The major clients were its audience that included children and people from worldwide. It aimed at increasing the number of participant countries or nations to gain popularity, and promotes peace, friendship, and humanity worldwide (Müller, 2012 p.693). Its clients comprised of broadcasting channels, new channels, Social media channels and other Olympics and sports committee.
The marketing mix strategy of winter Olympics is the tool that is used to promote the service in the market. It comprises of the four Ps that are price, promotion, place and product. Product of the winter Olympics is not commodity but service of sports that it provides. Various services that Olympics provide are sports such as chess, swimming and others. The price that it charges is to earn the maximum revenue it can. The broadcasting channel has helped the game earn major revenue (Chappelet, 2008 p.1884).
Promotion has helped the Olympics gain popularity as it targeted audience worldwide. It has used many promoting channels such as internet, social media and other communication and broadcasting channels such as news and television. It was the first Olympics to promote and include technological innovation in its promotion. The other element of marketing mix is the place or the distribution channel. The winter Olympics was conducted in Turin in Italy. This was the host country that gave great support to the event.
Customer Satisfaction
Customer all across the world was very happy and satisfied. They got to see the new innovation in event as they also had ten opportunities to see the activities live in television. The customers were satisfied with the service and the price policy that it used.
Profitability and ROI
International Olympic Association had earned huge amount of revenue from Turin 2006 Olympic Games. The financial information from the annual report of IOA for 2006 is the biggest prove of the fact (Robinson and Bauman, 2008 p.48). The following table is presented to describe the financial growth of IOA on 2006 in terms of profitability and revenue, due to the particular event:-
In the Books International Olympic Association:-
Particulars 2006 2005 % of Changes
USD 000 USD 000
Operating Cost:
Central Operating & Administrative Cost A 83416 80598 3.50%
Olympic Game Related Expenditure B 123451 48495 154.56%
Distribution of Rights C 852341 137070 521.83%
TOTAL D = A+B+C 1059208 266163 297.95%
TOTAL REVENUE E 1132524 188693 500.19%
Operating Profit F = E – D 73316 -77470 194.64%
Excess/Deficit of Revenue G 143334 -32838 536.49%
Operating Ratio D/E 93.53% 141.06% -33.70%
Net Revenue Ratio G/E 12.66% -17.40% 172.72%
Operating Profit Ratio E/F 6.47% -41.06% 115.77%
Return on Investment:-
For further analysis, the return on investment rates of IOA is also presented below:-
In the Books International Olympic Association:-
Particulars 2006 2005 % of Changes
USD 000 USD 000
Investment Cost:
Short Term Investment 497690 450623 10.44%
Long term Investment 191973 266750 -28.03%
TOTAL 689663 717373 -3.86%
Investment Income 70018 44362 57.83%
Return on Investment 10.15% 6.18% 64.17%
Performance Gap
The main performance gap that has resulted from the Turin 2006 Olympic Games is the contrast observed between the resource availability as well as support system that have been observed in the top management due to the shortfalls that have been observed in the resource allocation and strategy execution to the fullest.
Performance Review against KPI’s
According to the KPI’s, the performance review of Turin 2006 Olympic Games have been better in comparison to its last year performance such that the event has used its maximum utilization of resources but the only drawback lies the resource allocation. However, when it comes to customer paid through revenue and profitability, the Turin 2006 Olympic Games have been and success and with investment it has been able to revive its losses in the previous years (Dansero and Puttilli, 2010 p.321). On the other hand, the customer satisfactions have been content with the live broadcasting of the event and the strategic price policy charged from them. However, the only disadvantage was the integration of information through processes in the system regarding time.
Formal Set of the Turin 2006 Olympic Games
Objective – Customer satisfaction (high appeal and awareness)
Realistic – Communication strategy
Quantifiable – Revenue and Profitability
Actionable – Broadcasting actions through social media and internet
New and Emerging Trends
The new and emerging trends that have been highlighted in the event are social media broadcasting with communication strategy that has added value to the event by making a brand image of generosity, peace and harmony. The social media and impact and brand value serves a response to the company or an event such that the vent can maintain its sustainability through identifying its key points, reaching out to the masses, empowering tools and nourishment of engagement and sharing (Gordon, 2012 p.122).
The new trends highlight the change in the format of Olympic advertising depending on the money spent by the corporate from sponsors for advertising, public relations, displaying, staging the games and community and legacy programmes that guarantee the profits. However, this strategy applied is beneficial as games bring a solid commercial return so that the companies can elaborate more targeting steps to take in consideration the interests of consumer groups.
Marketing Performance
The marketing performance of the winter Olympics was good as the broadcast of the channel helped the Olympics gain popularity and also high revenue and profit. The future recommendation would be to plan the activities of the event and promotional activities within the budget that it has set. The only drawback of the entire event was that the cost of providing the event was high due to application of innovation in its technology.
Staff Training
The staff and the workers that were involved in managing the event of Olympics were given proper training before the event started in order to avoid any mishap (Vanwynsberghe, Surborg and Wyly, 2013 p.2074). Special instruction was given to communicate the event effectively and provide the best quality that it could its customers. Even more staff training can be effective if employee incentives and rewards are programmed through Olympic spirit that involves their personnel in an important corporate endeavor while leveraging an opportunity to strengthen morale and build staff loyalty (Huang and Sarigöllü, 2012 p.92).
However, staff training can be improved by providing by installing of different training programs that not only lessens the time and cost but also the efforts made by the staff to yield maximum results. However, staff straining can be based using in-house training, job shadowing, online course for effective coaching whereas effective mentoring can be provided by interaction by setting an example, challenging the ideas and thinking out of the box.
Recommendations for future improvements
The recommendations made for future improvements would be that the companies should insist to review their traditional theories of sponsorship. However, there is need to provide more private investments than public ones such that different programs could receive online association which could ultimately acquire loyalty among different consumer groups. On the other hand, improved strategies will not only strengthen the factor of sponsorship but will also lead to broadcasting on TV as well.
Lastly, with more advancement of technology and a brand new vision of marketing a combination of advertising, promotion and sponsorship strategy can be devised. The future improvements that can be applied in the process are through mobile because customers spend almost 60% of the time on mobile. According to reliable predictions in 2017, approximately 29.7 billion access the internet that totals to be 91% of the total populations. However, to build a strong strategy so that the customer feedback even does not hinders the progressive strategy. This can be done by following certain levels of building a strategy.
Firstly, new performance targets was missing should be done through personal interactions with customers through customizing experiences whether it is message titling as “dear user/customer” or through personalized advertisements that ensures a wide base of interest and preferences of customers. Secondly, by building a clout of customer loyalty that not only encourages friendly competition but also ensures positive rewards for the customers. Lastly, offering entertainment on mobile while enabling broadcasting to the potential customers. Apart from this, the marketing strategy activation can be regulated through Olympic Museum.
References
Atlikhan, A., Albadvi, A. and Ghapanchi, A.H., 2013. A conceptual model for proactive-interactive customer complaint management systems.International Journal of Business Information Systems, 13(4), pp.490-503.
Billings, A.C., and Ziegler, J., 2008. The games through the NBC lens: Gender, ethnic, and national equity in the 2006 Torino Winter Olympics.Journal of Broadcasting & Electronic Media, 52(2), pp.215-230.
Chappelet, J.L., 2008. Olympic environmental concerns as a legacy of the Winter Games. The International Journal of the History of Sport, 25(14), pp.1884-1902.
Dansero, E. and Puttilli, M., 2010. Mega?events tourism legacies: The case of the Torino 2006 Winter Olympic Games–A territorialisation approach.Leisure Studies, 29(3), pp.321-341.
Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix.Australasian Marketing Journal (AMJ), 20(2), pp.122-126.
Guala, C., 2009. To bid or not to bid: public opinion before and after the Games. The case of the Turin 2006 Olympic Winter Games. In The Olympic Legacy. People, Place, Enterprise. Proceedings of the first annual conference on Olympic Legacy(Vol. 8, pp. 21-30).
Huang, R. and Sarigöllü, E., 2012. How brand awareness relates to market outcome, brand equity, and the marketing mix. Journal of Business Research, 65(1), pp.92-99.
Müller, M., 2012. Popular perception of urban transformation through megaevents: understanding support for the 2014 Winter Olympics in Sochi.Environment and Planning C: Government and Policy, 30(4), pp.693-711.
Robinson, T. and Bauman, L., 2008. Winning the Olympic marketing game: recall of logos on clothing, equipment and venues at the 2006 Winter Olympics. International Journal of Sports Marketing and Sponsorship, 9(4), pp.48-63.
Vanwynsberghe, R., Surborg, B. and Wyly, E., 2013. When the Games Come to Town: Neoliberalism, Mega?Events and Social Inclusion in the Vancouver 2010 Winter Olympic Games. International Journal of Urban and Regional Research, 37(6), pp.2074-2093.
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