Understanding the Olympic Marketplace
The Olympic Games occur as a series of preparatory business activities involving the establishment of brand partnerships from a marketing perspective in which well-known companies such as PepsiCo and Coca-Cola bring their own, unique brand power into the forefront of Olympics activities. However, should Olympics promoters rely on the brand strength of other well-known companies to lure higher volumes of consumers to the Games, or can the Olympics (as a single organization) rely on its own singular brand to accomplish the same goals and build consumer interest?The one-brand strategy occurs when a company or organization which carries a multitude of brands remains focused on utilizing marketing to create a singular brand image that incorporates all existing brands into a single unit. The one-brand strategy might very well be an efficient model by which to promote the upcoming 2012 London Olympics by relying less on the power of other brand sponsorships and creating a singular brand image that appeals to a wider variety of potential customers to the Olympic Games. This proposed research study intends to test the hypothesis of whether Olympics promoters can actually utilize the one-brand strategy, over that of traditional brand partnerships, to build consumer interest in the Games and increase total revenues.the contemporary consumer to attend the Olympic Games and to understand their individual viewpoints of brand sponsorships. These objectives are intended to offer a clear picture as to whether the Olympic Games promoters can utilize a one-brand strategy or whether powerful brand sponsorships are the most viable marketing option for these events.Marketing is certainly not an exact science as maintaining an understanding of a very diverse group of consumers both domestic and foreign requires substantial marketing research.