Marketing has developed over the years and sports organisations have realised how the process of marketing, promotion and management greatly influence the extent to which a sports event is successful or conversely unsuccessful; therefore they have paid more attention to the marketing process due to how great the impact can have on a sports event. According to (Raj, Walters and Rashid, 2009), the era of marketing commenced in the early 1950s when people’s demands for goods and services where high, this was the catalyst for the marketing development chain which has eventually led to the 4p’s of marketing (McCarthy, 1978). Also marketing can be defined as the process and activities for communicating, developing, delivering and exchanging offerings that have value for customers and society in general (Kotler 2012 p.27). This is often seen as the initial foundational steps that facilitate events in order for them to function efficiently with the use of clear guidelines and structures put in place.
Promotion can be broken down into four main elements which are: * Sales Promotion
* Public Relations
* Personal Selling
Sales promotion is a key component of the marketing process and is known mainly as using usually short-term incentives to stimulate greater and quicker purchases of products and services by consumers and customers. This works hand in hand with market management; which is the art of choosing target markets, acquiring, sustaining and increasing customers through creating and delivering an enhanced customer value Kotler (2012 p.27). The primary aim of sales promotion is to draw in the consumer or customer with an incentive such as free-trials hopefully impressing the recipient and eventually persuading them to buy into goods or services of the particular firm.
In addition to that management goes hand in hand with marketing, this is reinforced by the definition according to the Chartered institute of marketing, (2012), marketing can be defined as the ‘management’ process for identifying, anticipating and satisfying customer needs profitably. Managing any event could be considered a daunting task. It is crucial that a global event such as the Olympics is managed effectively from start to finish otherwise there is a great risk of the event imploding to a catastrophic event. For example if the basic framework in the marketing process is not adhered to an event failure is inevitable.
This project will review the marketing, promotion and management processes and all associated elements involved in structuring and delivering a sports event, specifically the 2012 Olympic Games. The Objectives will be to create and develop a marketing mix profile of the 2012 Olympic Games, to construct a Swot Analysis in order to evaluate the event and finally to suggest recommendations that could have possibly improved the event’s performance. It will aim to critically analyse the pros and cons throughout the entire process of staging the 2012 Olympic Games from a marketing perspective.
Marketing Mix Profile (Olympics 2012)
Firstly the marketing mix can be portrayed as the 4 P’s which are price, product, promotion and place (Raj, Walters and Rashid, 2009), these four elements epitomise the marketing mix theory. The word ‘mix’ is used in order to emphasise the fact that all these factors must be done collectively in order to obtain the desired result. For example for an event such as the Glastonbury festival to have a chance of being a success, all the factors of the marketing mix aforementioned must be paid attention to and acknowledged otherwise there would be no foundation for organising the event which in turn would lead to an inevitable failure in most instances.
In the same token that logic also applies to a Mega event such as the 2012 Olympic Games. In terms of the product, the Olympic Games event based in Stratford can be seen as intangible because you cannot actually see...