Event Management, Tour Down Under 2013 Research Paper

Pages: 7 (2267 words)  |  Bibliography Sources: 4

SAMPLE EXCERPT:

[. . .] The state will also issue the ID lanyard as well as the two-way radio to the key volunteers, contractors and event staff. The event will be dog free and smoke free. The organizer will ensure that the event goes smoothly.

Essentially, the financial commitment for hosting each stage will be $15,000 hosting fee as well as traffic management costs. The financial commitment will also include promotion and marketing costs. Thus, it is estimated that the costs of standalone stage will start from $30,000.

Event Organization's Reputation

The STDU has recorded a brilliant reputation since it has started since 1999. The high reputation that the event has enjoyed made it to attract the global talented cyclists. Since 1999, the visitors have increased in number, and the high reputation of the event has assisted the organizers to enjoy high return from investment. Moreover, the excellent organizational reputation that the event has enjoyed makes it to attract the attention of international media. Typically, the Tour Down Under tournament has also been watched live in more than 190 countries, which has assisted in injecting over $42 million a year into the Adelaide state's economy. Moreover, the event has reinforced the reputation of Southern Australia as one of the best organizer of excellent festivals. (Grey, and Skildum-Reid, 2003, Clancy, Krieg, 2006)

Hospital and Entertainment Opportunities

The STDU event will serve as the method of entertaining the visitors. Apart from entertaining more than half a million people, the Tour Down Under tournament will serve as source of entertainment for millions of people watching the event life globally. Moreover, the event will be unforgettable action for the tourists because of the festivity atmosphere surrounding it.

Recommendations

The report suggests that the Board of Director should go ahead in sponsoring the Tour Down Under tournament based on several benefits that our organization will derive from the event. First, we will achieve market competitive advantages from sponsoring the event because it will enhance our ROI (Return on Investment). In essence, we will gain both short-term and long-term benefits from sponsoring the event. The short-term benefit is that our market will rise within few day days of the event because we will gain national and international exposure from the Tour Down Under tournament. Moreover, we will attract more customers from sponsoring the event and some of these customers might eventually become our important customer in the future. Moreover, the event will assist our organization to attract international customer from other countries, which will eventually enhance our competitive market advantages. (Grey, and Skildum-Reid, 2003, Clancy, Krieg, 2006)

Despite the benefits that our organization will derive from sponsoring the event, its shortcoming is that we would incur financial, human resources and time in the event. The costs of time spent in the event are equivalent to the time that should be used in the company to assist in producing our goods and services. Nevertheless, the report argues that benefits of sponsoring the event outweigh its shortcomings.

In the contemporary marketing environment, sponsorship has become a powerful tool that organizations use to increase their marketing activities. In other word, sponsorship has become a powerful tool for communication. In essence, our organization will derive cost advantages from using sponsorship to promote ourselves because if we decide to promote ourselves using the TV coverage without sponsorship, the costs will be too exorbitant. Thus, it will be cost effective to use the event for our marketing promotion. Typically, we will use the generic marketing mix to promote ourselves, and our marketing strategy will include:

Pricing

Integrated communication,

People.

Two important aspects to achieve success in event are integrated marketing campaign and sponsorship. A well-planned sponsorship as well as an effective integrated marketing campaign is very critical to event communication. Essentially, our organization will be able to achieve our strategic objective and brand recognition from sponsoring the event. (Allen, O'Toole, Harris, & McDonnell, 2011).

"The more integrated a communications campaign is the more efficient and effective the outcomes will be. Sponsorship is an integral part of an event or festivals marketing mix and can provide substantial return on investment for both the sponsor and the sponsored event." (Allen, O'Toole, Harris, & McDonnell, 2011 p 4).

We will deliver the integrated marketing message to the target customer, and the strategy will assist our organization to be in touch with wider number of customer at much lower costs through television, press, radio and other media. Meanwhile, our marketing strategy will assist our company to be in touch with wider spectators.

Reference

Allen, J, O'Toole, W. Harris, R. & McDonnell, I.… [END OF PREVIEW]

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