Question

Read this Sports Business Journal article based on the economics of the Rio Olympics. Respond to the following questions:

 What strategies and tactics were used in the host city of Rio to gain exposure and marketability?

 What was the significance of big-dollar sponsors in Rio during the Olympics?

 Do you think these strategies were effective?

 How did sponsorships and partnerships play out during these Olympics, in your assessment?

 What economic role(s) do you feel Rio played during this prestigious sporting event?

 Do you think hosting the 2016 Olympics was a financial success for Rio? If so, in what ways?

Answer 1

Rio olympics 2016 highlights :

1.Three powerful marketing strategies used during rio olympics -

• Partnering with influencers like NBC to reach millennials.
• Advertising on Snapchat during live event streaming like interviews and inspirational messages from leading olympians.
• Virtual reality to drive brand awareness like citizens were given a chance to see olympians talents and meet them in person.

2. NISSAN and SAMSUMG are the big $ sponsors in rio olympics with 103 points index ranking for samsung.

3. Rio 2016 strategies seem to be diverse.Example :coke's advertising strategy focused on bubbles ,visa focused on olympians using chip cards to make purchases, samsung used lesser-known athletes.

4. Top sponsors played out in this event are Coca-Cola , Dow, Panasonic, P & G, Samsung, Visa etc.US Olympic committee sponsors are AT&T, BMW, Kellogs etc. and the organizing committee sponsors are Nissan.

5. Rio 2016 create 70 new hotels in Rio and invested BRL 5 billion in tourism industry. Over 12 months, Brazil welcomed 6.6 million foreign tourists which generated revenue over a period of time in the economy.

6.Yes , it is a success story financially where 7 billion video views in social media platform, high quality public transport increased from 18-63%, worldwide digital coverage for 3,50,000 hours.