Strategic Review
Part-A: Turin 2006 Olympic games: Strategic Review
Turin 2006 Olympic winter games are considered as a biggest event which is conducted over the course of 17 days. To conduct this event successfully, TOROC is responsible for managing the domestic marketing programmes. The marketing program are organised on the host country of Italy and for the marketing of an event, the activities such as sponsorship, ticketing and licensing etc (Chanavat & Ferrand, 2010).
At the same time, Olympic broadcast partnership covered the event live nearly about 1,000 hours. It is considers as a biggest achievement in the Olympic winter games history.
There are various key features that are study in the Turin 2006 Olympic winter games which are as follows:
- The IOC who is the broadcast partner of the Olympic games covers the live telecast of the event about the 1,000 hours which is itself consider as a biggest recognition in the Olympic winter games history (Bondonio & Guala, 2011).
- The Turin 2006 Olympic winter games are promoted aggressively in the local market of Italy through including the sponsorship, ticketing and licensing etc.
- The TOP Partners provide support in the form of financial and it also contributes to goods and services of the Olympic Games and the Olympic Movement.
Thus, these are the key elements that are observed from the Turin 2006 Olympic winter games.
Key trends and strategic areas
Turin 2006 Olympic winter games follows the current trend i.e. use of digital platform in their broadcasting and they also promote their event in the digital sites. Likewise, TOROC program covers the event with live video coverage and it is available on mobile phones.
This telecast available in 18 countries on five continents and because of this net surfing is becoming the current trend in the global world (Khan et al., 2010). On the other hand, the strategic areas for this event are the sponsorship, ticketing, licensing, and point of sales etc.
Under the sponsorship programme, the TOROC is the main sponsor and organisers sell the tickets in Nov, 2004 and ended in mid-Decembers. This strategy creates the hype and generates interest among the peoples.
Thus this area proves to be effective for the event in terms to promote on the high level. Moreover, event organisers gives license too many companies for aggressively create awareness about the Turin 2006 Olympic winter games.
Integration of various marketing components/programs (e.g. sponsorship, sharing of revenues, broadcasting and stakeholder partnerships) with overall marketing objectives
Marketing objectives is to increase the awareness of the Turin 2006 Olympic winter games among the host country audiences and across the globe. In this, TOROC integrates various marketing components such as sponsorship, broadcasting and partnership with stakeholders etc (Pitt et al., 2010).
Likewise, Olympic organisation is come under the agreement with corporation in order to take financial support and to promote the event in a widely way. At the same time, sponsors also provide support to athletes and essential products to broadcasters, journalist, photographers and other media.
Thus, such activities of sponsors not only contribute in terms to financially but also assist in promoting the event on broader way. On the other hand, Olympic partnership with stakeholders also contributes high for creating awareness through aligns with the Olympic Quadrennium.
The stakeholders like broadcaster, sponsors, event organiser, brands which are associated also provides support to make the people aware about the event and its day to day happenings. Thus, these marketing components help the Turin 2006 Olympic winter games to attain marketing objectives.
Key strategic aspects of marketing programs and objectives
There are three different aspects of marketing program and objectives that are as follows:-
- The Olympic brand has been promoted through the names of celebrity.
- Event organisers use the digital network to promote the brand as they provide the live coverage of games on 18 countries (Walker et al., 2010).
- The Olympic event is highlighted among the audiences in the form of intelligences, respect and friendship etc.
Hence, these are the elements follows by the event organisers to promote the Olympic 2006 games or to create interest of audiences.
Policy objectives for commercial initiatives and their relevance to marketing programs
Policy objective for the Olympic Games 2006 is to maintain the finances for the event with the aim to be implemented successfully and this is done through the sponsorship, licensing and collaboration etc (Dansero & Puttilli, 2010).
Moreover, policy also stated that event should broadcast in a wide way so that larger audiences could relate to it and generate interest on the event. Both the mention policy would be proving relevant for the marketing programs.
Part-B: Develop key Performance Indicators and a Communication Plan
KPI for the measurement of performances of Olympic winter games 2006.
| S. No. | Benchmark | Targets | Time frame |
| 1. | Awareness about the event | Larger | 9 months |
| 2. | Increase sales of event tickets | Sale of tickets | 12 months |
| 3. | Make Larger sponsors ready to sponsors the event | Sponsor satisfaction | 6 months |
| 4. | Building healthy relation with event key stakeholders | Follow the policies and procedure to satisfy the stakeholders | 10 months |
To communicate this KPI to management of Olympic event, there is need to prepare the communication plan so that employees would be clear about their performances area. Thus, communication plan includes the following-
- The aim and objective of communication plan is to communicate the employees, personnel about the KPI so that they work in a common direction without facing any problem. Other objective of communication plan is to guide the stakeholders about their benchmarks as based on that they perform their actions and at the same time there performances will be measured on the basis of benchmark.
- The stakeholders of the Olympic Games are the sponsors which are Kodak, coca cola, Samsung etc. Distributors, event broadcast includes Sanpaolo, telecom, fiat group etc.
- Event Manager can communicate the KPI through conducting the meeting, mailing the documents to the personnel etc. Meeting is considered as a best way to communicate the members about the targets and benchmarks which is setting for the event. It is more kind of formal way while prepare the document about the KPIs is also effective communication strategy as in meeting it is not possible to include each members (Ellis et al., 2011). In regards to this, mailing is the quite helpful for informing each individual about the objectives and roles of the personnel.
- The tools that can event manager use to communicate their communication plan are the mails and web portals as with this, changes will be communicated easily to the multiple team group. Furthermore, social sites and formal meeting will also prove to be effective technique for communicating of KPIs to personnel, stakeholders etc.
- There is also need to follow the code of conduct while implementing the Olympic winter games 2006. Code of conduct includes the communicating the policies and guidelines to all employees through providing necessary training to them.
Secondly code of conduct involves the right attitude of individual towards the work and there is also need to be kind & gentle or try to respect personal space so that positive working can be developed. Through this, it can be stated that maintaining code of conduct is the crucial aspect for the event.
- The Feedback mechanism that can be use for the Olympic Games 2006 is the feedback loops. It is because through this system, event manager receives the response from the audiences about the event and as per that they will take further steps (Minnaert, 2012). So feedback loop is considered to be best way to gather response from the different stakeholders whether it is positive or negative.
- Different stakeholders perform different roles and these are also accountable for handling various responsibilities. However, sponsors of the event are responsible to promote the event with the help of event. For instances, coca-cola perform the event through their packaging in which they give the chances to three lucky people to buy the product and watch the event at Italy. This manner sponsors promote the event. While, distributors and broadcast roles is to provide the live telecast of the activities of games. Other than that, event manager role is to manage each task and coordinate the event in a systematic way.
- Communication plan also informs the stakeholders that they should to perform the task through adhere the given policy and guidelines of Olympic federation. Likewise, all the internal stakeholders of the event is responsible for maintaining the privacy of the event facts and do not engage any type of false work. Other than, it is also necessary to keep record book-keeping in order to avoid the errors (Sant et al., 2013). These practices would contribute to manage and execute the Olympic winter games 2006 successfully.
This task evaluates the performances of the Olympic Games Event 2006. It includes performances report that is as follows:-
Executive Summary
This paper aims is to give brief understanding about the performances report. In this, it is identified that the Olympic Games fundamental objectives is somewhat match with the marketing outcomes.
At the same time, the stakeholders also performed their actions as per the KPIs. Likewise, there are high sales of tickets and positive response of wider audiences will be reflecting from the marketing strategy.
Thus, it can be depicted that event prove to be successfully in terms to gaining maximum awareness but there is high cost and time involved in the execution of Olympic Winter Games 2006.
- The fundamental objective of the Olympic Games is to promote the event among the wider audiences. In regards to objective, it can be stated that marketing outcomes is achieving as global audiences shows interest in the event and buys tickets to watch the games. At the same time, response of the audiences is also positive that’s reflecting that fundamental objectives are matching with the marketing results.
- It is identified that the gap is arise between the fundamental objective and marketing performances is in the form of cost or time. It is because marketing plan involves high cost and it also takes huge time of the stakeholders (Sharabi & Harpaz, 2010). Other than that television rights issues is also considered. Thus, these are the problems that are faced by the committee in the implementation of Olympic successfully.
- Performances review based on KPI:-
It is estimated that event is successfully promote by the sponsors. Coco Cola, Samsung etc. due to that, the tickets are also start selling quite early and people also giving the positive response.
Due to proper training conducted and timely meeting organised, the stakeholders also feel satisfied.
Thus, this clearly indicated that the different stakeholders perform well but not fully efficiently as the mismanagement is quite reflecting in the event.
- It is suggested that organiser should install the CRM and ERP system in order to make improvements in the performances of staff.
- Social media is the latest technology which has a high impact on the audiences as through this platform, large market can be covered which would not be possible with print and broadcast media tools. The live telecast of event would help to retain larger audiences towards the event (Kapinas et al., 2010).
- In order to easily install the technology, there is needed to conduct the training program, coaching and mentoring. This would help to staff to easily accept the advanced technology. Thus, training and coaching is the essential part to bring the improvements in the performances area.
- For the future marketing strategy, it is recommended that event organizers should focus more on the social sites to promote their events due to growing trend of the digital platform among the younger population (Walker et al., 2010). Other than that, sustainable practices such go green tagline should also incorporate by the event in order to encourage the audiences to take interest in event. Thus, such taglines attract larger public.
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