Case2LondonGamesCH - Assignment for Course MKT 5070...

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Assignment for Course: MKT 5070: Managerial Marketing Title of Assignment: LONDON GAMES CASE ANALYSIS London 2012 Olympic Games Case Study 1. What are the tradeoffs that Williamson faces? Paul Williamson was hired as Head of Ticketing for the 2012 London Olympic Games, after showing competence and success in the past international events he had worked. Now he had to fulfill four ticketing and attendance objectives. First of all, maximizing revenues stood at the forefront due to the fact that ticketing represented 20% of the Olympic Games’ revenue. The next objective on Mr Williamson's list was to maximize attendance. Since the organization expected close to five billion television viewers to watch at least some part of the 2012 Games, the last image the London Organizing Committee of the Olympic Games (LOCOG) wanted broadcast to the world was half-empty arenas. Then in addition to filling the seats, he needed to have the “right people,” who were knowledgeable about the sporting event and added energy to the atmosphere. Finally, he wanted to make the tickets affordable for the average Londoner, since it was estimated roughly 30% of all tickets would be purchased by Londoners. The tradeoffs Mr. Williamson faced were numerous, for instance, hitting the ticket revenue target but with a slumping attendance rate percentage. Although Mr. Williamson’s primary responsibility in these Games was to develop policies for pricing and distributing the 7.9 million tickets for the games,
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while maximizing attendance, and generating revenue to meet the games target; he must consider the impact of various factors, such as ticket prices and audience appeal for different sports would have on the ultimate outcome. He faced the unique situation of finding the right balance and mix of activities to implement in order to meet the stated objectives presented by the stakeholders to him. To create the best pricing strategy in order to meet the aforementioned four objectives, Mr. Williamson faced the following tradeoffs: First, there are various aspects and expectations that influence the demand of the tickets. Different sports appeal different audiences. For example, there would be high local demand for local popular sports and the sporting events with high International appeal, which represented "The Big Four Events". In addition, the expected audiences were to be comprised of a variety of people with varying interests in the different Olympic games events. Additionally, the closing ceremonies appealed to a lot of individuals who wished to see where the gold medals were awarded. Last but not least, particular teams or athletes create a high demand, and, as a result, celebrity effect would play a significant role that influences tickets demand.
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