Abstract
Nowadays, Olympic Games have become one of the most large-scale and profitable global media events. In the world of sports, marketing, promotion and advertisement are fundamental tools for generating great profits. The current article will explore the issue of marketing-mediated sport events on the example of Olympic Games and will touch upon the issues of promotion of properly the Games, advertising athletes and participants, sources of profit for conducting the Games and new trends in marketing of Olympics. The issue will be discussed and is aimed at tracing the compliance of theoretical findings on advertisement, promotion and sponsorship strategies, on the example of one of the most profitable events, the Olympic Games. Thus, the work will focus on the issue of current developments of Olympic marketing and steps to be done in both theoretical and practical way to ensure further effectiveness and attractiveness of Olympic marketing program.
Highlights
Ever since the first Ancient Olympic Games in 776 BC the ultimate aim of competing, especially in athletics, was to be the best
The Internet boom has opened up new financial possibilities for the Olympic Movement and the establishment of a new paradigm of economic relations with the sponsors, broadcasters and the potential to reach new audiences
The international Olympic committee (IOC) distributes over 90% of Olympic marketing revenue to organizations throughout the Olympic Movement, in order to support the staging of the Olympic Games and to promote the worldwide development of sport
Summary
Ever since the first Ancient Olympic Games in 776 BC the ultimate aim of competing, especially in athletics, was to be the best. A second series of Games, the so-called intercalated Games, were supposed to be organized every four years in Athens in between the Olympic Games. These series was not successful, but neither were the 1900 and the 1904 Olympic Games. Starting as ancient Greek religious festival, where athletes competed in honor of Zeus and being revived in late nineteenth century as completely athletic games, Olympics ended up with becoming one of the most celebrated and profitable media events in the world. The issue will be discussed both in theoretical and practical network and is aimed at tracing the compliance of theoretical findings on advertisement, promotion and sponsorship strategies, with the practical implementation thereof on the example of one of the most profitable events in the sense of advertising, the Olympic Games. In this review article we try to describe marketing of Olympic movement and revenue generation of international Olympic committee (IOC)
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