A Report on the Marketing Activities of the 2012 London Olympics Essay

A Report on the Marketing Activities of the 2012 London Olympics - Essay Example The report further discusses the effectiveness of the internet as a medium of promotion and concludes that it has been really successful in reaching out to identified market segments Introduction The London 2012 Olympics are an event of a lifetime. The excitement for this event builds up as every seconds passes by, as without any doubt this would to be the biggest sporting event of the year. The London 2012 Olympics provide an opportunity to all companies of the United Kingdom to promote their image throughout the world and that's the core reason why many major companies can be seem to tag along the London 2012 Olympics as official sponsors. There are further four categories of sponsors, namely, worldwide partners, official partners, official supporters and official suppliers and providers. This report seeks to shed a light on the marketing mix being used promote London 2012 Olympics, the marketing activities being used and the segments that are being targeted. Aims and Objectives Ev ery country that host the Olympics does so because of the benefits that come along with it. Organizers of the London 2012 have the following hope to achieve the following aims as they prepare for the largest sporting event of the year: To increase tourism to the UK by inspiring travelers from all over the world to come and explore the country and thereby generate revenue for the national exchequer To generate employment for the local people as country prepares for the Olympics To promote local companies on an international scale through the help of sponsorship campaigns To sell media, marketing and PR rights to companies all over the world and make sure proper coverage is provided to them To promote the culture and traditions of the United Kingdom throughout the world and portray our image as one of the most friendliest nations of the world What Market Segments Are Being Targeted Through These Marketing Activities For any activity to work out properly, one needs to define a core are a which needs to be addressed and then work upon it. Similarly, the organizers of the 2012 London Olympics aim to target the following segments: To reach out to new and prospective customers in major emerging markets of the world To refresh the appeal of our country in major existing markets Marketing Activities Being Used To Promote The London 2012 Olympics There are a lot of marketing activities that are currently being used to promote the main event of the year. From my research undertaken and the visit to the Olympics site on 14th December, 2011, I have come to the conclusion that its not just the main event that needs to be marketed, but other associated events can also help to generating a lot of revenue. Marketing activities need to be directed towards the right holding of international media broadcasters, towards the promotion of cultural Olympiads, the pregame training sessions, the torch relay event as well as towards the promotion of the various sites where the 2012 Olymp ics events will take place (Horne & Whannel, 2012). The importance of properly marketing this event could not be better understood then by this quote by Michael Payne, IOC's director or marketing, â€Å"Britain will be in the front page of every single newspaper in every single country in the world for three weeks....There are not many other opportunities which guarantee you such exposure five years in advance†. News media includes TV as well as print journalism. Without any doubt news media has been one of the biggest mediums that has been used