Explain the role of the Beijing brand in the context of product strategy, and identify its importance in attracting the targeted sponsorship required.
Introduction
On July 13th 2001, China's capital, Beijing, won the right to host the 2008 Olympic Games. The Games will be held between August 8th and 24th 2008.
China is not seen in the most positive light by most of the world's population who generally regard the nation as being backward, overpopulated and, under socialist rule.
In recent times many investors have recognized the opportunities China has to offer in terms of relatively cheap labour and production costs. However, China still has far to go in order to develop a positive global image.
The 2008 Olympic Games will enable China to do just that. In 2004 3.9 billion people across the world watched the Olympic Games in Athens. This number is expected to increase in 2008. This level of exposure will give China the opportunity to build a strong relationship with the rest of the world and showcase the culture and economy of China.
More than US $1.2 billion is expected to be raised from the international and domestic sponsorship of the 2008 Games. This money will be used to ensure that the Games take place without any difficulties and to cover all financial costs incurred in holding such an event. The games will also encourage international investment in China as well as highlight the skill of the Chinese people and their technology, products and services, while furthering China's quest for excellence in all realms of business.
The Beijing Brand
The Beijing Organizing Committee has several selling points to attract sponsors to the Beijing 2008 Olympic Games.
China has a population of 1.31 billion pe ...