Monday, November 24, 2008
THEY WERE LIKE A BLUR, A BOLT OF LIGHTNING IN THE WIND!
MY HEART IS RACING AS FAST AS THEY ARE!
The objective
The objective of this report is to gain a better understanding of the marketing mix and how it is applied in real life events and festivals close to home. The report will help in learning how to apply the knowledge learned in the classroom to outside events and bring learning to e better understanding. By writing this report, I aim to get a better feel on how to plan events, be it on a big scale or a small scale. This will aid me in the planning of Sentosa Leisure Groups youth event. Analyzing a local event will allow a better understanding of how the professionals handle and cater to both our local and tourist markets. In order to give a thorough report on The Singapore GP, I have sought research from various websites such as the Singapore tourism board and the official Singapore GP website. I also attended the event and took note of various happenings.
The description
The Singapore GP was Singapore’s first ever formula 1 race. The special thing about this large scale event was that it was the world’s first night race. With an estimated influx of approximately 100,000 visitors during this five day event, restaurants, hotels, retail and entertainment industries are all set for one crazy ride. Local suppliers and media coverage companies have also jumped on the bandwagon to be part of this unique experience. With an expected 350 million viewers tuning into international television channels covering the event, the Singapore Grand Prix Formula One Night Race is set to be the event of the year and will keep people talking all year round putting Singapore on the world map in an unforgettable spotlight this year.
1. Packaging and distribution
Packaging and distribution was done on a very large scale for this event. Many intermediary companies put up packages with hotels online. One such company was a New Port Beach registered company called Grand Prix Tours. They had formed an alliance with Royal Plaza at Scotts offering a 3 day package for $2,595.00. The official Formula One Grand Prix website also offered hotel rooms with participating hotels that placed their room rates and hotel links and advertisements on the official Grand Prix website.
Sales were also boosted when the Singapore Grand Prix marketing team decided to market the three day package making it cheaper over all to buy a three day pass bundle as compared to an individual ticket daily.
2. Price
With the Grand Prix being Singapore’s first race, many locals were drawn to be a part of it and tourists from as far as Holland and Hawaii came to view the first race held under the blanket of the cool night sky.
Tickets were sold from prices as low as SGD 34 for youth concession on the first day to SGD 108 for a standard ticket on the last day, Sunday. Three day passes were also packaged at SGD 168. The VIP Paddock Club 3 day pass tickets went as high as SGD 6,688 and are going to be set at around the same rate next year.
Merchandise also played a huge role in the event. Close to one week before the event, every family and child was supporting a Ferrari Cap or Formula one T-Shirt. Perhaps a F1 Zippo Lighter might interest you? Or a F1 teddy bear to hug and a water bottle to show off to all your friends back home in Holland? Retailers were everywhere. Lined along Orchard Road were little white tents supporting eager “Aunties” waiting to make their share of profit.
3. Programming
Though in my opinion elements of style were not very evident this year, credit must be given to the thought of a night race. Being the first year, it is understandable that extra elements of style and surprise were not very thoroughly thought of. The standard programme did prove itself by satisfying the diehard Formula one fanatic to the bare basics of heats, qualifiers and finals.
Quality however, was in all aspects evident. With the construction of the new pit area with paddock facilities that will house the control tower, garages for the race teams, hospitality lounges and a press room, quality was not forgone in this event of large proportions. Singapore GP Pte Ltd, a joint company formed by Lushington Entertainment and Komoco Motors spared no expense in making sure that the Singapore Formula One Night Race was a weekend trip to truly remember.
4. People
The entertainers in this memorable event were none other than the famous names in the industry. From pretty faces like Lewis Hamilton to brooding heart throbs like Brazil’s Philippe Massa it was a star studded cast for the evenings of great hype and screaming stands. Every fan was just waiting for their hero to “strut his stuff”.
With cultural and language barriers broken by the love for fast cars, locals and tourists alike screamed to their hearts content over the roaring sound of the heated engines and burnt rubber. Just the week before, at the Hard Rock Café located along Cuscaden Road, Italians, Brits, the Dutch, Japanese, Filipinos and many more gathered together without even knowing it, to share the same love for racing.
The audience couldn’t have been any broader. With marketing done in countries far and wide, no Formula One lover missed out on the action.
Hosts such as the Swissotel and Raffles Hotel played host to VIPs and important guests of the evenings. Hotels such as the Four Seasons Singapore chartered mini bus services and extra services to cater and show their effort in hospitality to their guests.
5. Partnerships
The Singapore GP signed one major partnership deal with the Singapore Flyer late last year. The deal states that the Singapore GP would be allowed to make use of the land and the ticketing of the Singapore Flyer during the Singapore Grand Prix season. Singapore will be allowed access to the land and facilities of the Singapore Flyer while satisfying the commercial needs of the Singapore Flyer during the entire race period.
This partnership allows both parties a win-win deal where the Singapore GP gets their land space and the Singapore Flyer gets their occupancy and commercial earnings. The aim of the partnership in the eyes of the Singapore GP is to “secure unobstructed race views and maximise involvement from as many vantage points as possible”
-Alastair Hunt, Singapore GP’s Circuit Park Manager
6. Promotions
Promotion of the Singapore GP was a very widespread affair. Marketing and advertisement was provided from all angles. SingTel, the Singapore GP’s main sponsor and partner mass promoted the event through their networks such as MIO TV and internet access. Even wireless@sg had a little part of the F1 incorporated into their home page. Singapore Tourism board included the Grand Prix in to their sales promotions for overseas and in packages and tours. They also organized the Singapore GP week which was displayed on banners all along Orchard Road. The event, the first of its kind, was marketed not only as an event itself but as a holiday package and a bundle of experiences. Television advertisements in the form of commercials and print ads flooded our magazines and newspapers will the local press on a feeding frenzy with the Singapore GP as their main course.
7. Product
The product, though in tangible, was in my opinion, well above expectation. The volunteers and recruited staff were of the highest quality providing readily available and accurate information when needed as well as smiles and cheer. This made it a memorable and joyous experience to know people around me were smiling and happy with what they were doing. Over all, service and quality of what I was expecting had well been surpassed. Although the police officers and law enforcement were a little over done, it was understood that they were only looking out for the safety of others.
8. Place
The features of the Singapore GP’s circuit are as follows, a newly built paddock club which will house garages for the teams as well as press rooms and entertainment facilities. The pit was also built for pit stops in plain view of the grand stands so that VIPs get the best view possible.
Marina Bay being the attraction hub of the future was decided as the site location for the race. This was very strategic because tourists would witness their favourite race car drivers speeding by The Merlion, the Singapore Flyer, The Esplanade and of course, the floating stadium. This allowed for a truly Singaporean backdrop with all our city gems in plain view of the spectators.
With the well planned infrastructure and race track route, Singapore GP was simply a sight for soar eyes.
Economic Contribution
It was estimated that the first Singapore Grand Prix would rake in at least a hefty S$100 million in revenue for the hotel, retail, entertainment and service industries. It is unsure as to how much was contributed because exact figures were not released however I think It is safe to say that in my opinion, tourists were highly impressed by the organization and planning of the event as well as Singaporeans and Singapore in general and many who were at the races felt that they like Singapore and would come back for a holiday. All in all I think that the Singapore GP contributed to the economic growth of Singapore both in the short run as well as in the long run. In the long run because of the reputation that has now been built on the Singapore name.
Conclusion