Singtel Grand Prix 2008

Introduction

This online portfolio had been created to show my observation and reflection about a festival/event that had taken place in Singapore recently. Based on the event I would identify the how the components of the marketing mix had been adopted in the event and I would need to evaluate their effectiveness. I would also consider the role of this event to Singapore as well as its value to the tourism economy. Majority of my research would be online resources which are deemed accurate after cross referencing with other texts.

The event which I have chosen for this online portfolio is the 2008 Formula 1 Singapore Singtel Grand Prix. The event took place at the Marina Bay Street Circuit, which was specially built for this grand event. The Singtel Grand Prix had lasted 3 days, from 26th September to 28th September. This is a picture of me at the Grand Prix. I am sorry if the picture qualities are not very professional.

do i look like a tourist?

Throughout the Singtel Grand Prix, there were 110,000 live spectators as well as an estimated 500 million home viewers, so much that the event can be considered as a visual spectacle. Overall the organizers of the Singtel Grand Prix, Singapore GP Pte Ltd, had considered the event as an overall success. There were huge demands for additional tickets and sales for food and beverage as well as hospitality around the area had increased by 30 percent.
And as most if you already know, here is the winner for the first ever Formula 1 Night Race also known as Singtel Grand Prix, Fernando Alonso, representing Team Renault.

Alonso at the Shanghai Grand Prix 2005

Evaluation of the Effective Use of Marketing Mix
Now I’ll just do a basic touch and go regarding the intangible, inseparable, variable and perishable areas of the Singtel Grand Prix. This would sum up the nature of the event.

Intangible

The intangible factors would consist of the areas where we cannot describe using our five senses. This would be the atmosphere of the crowd, the adrenaline rush you get when you see your favorite driver around the bend, the joy you get when the team you support wins and so on.

at the grandstand!

Variable

For variability, it means that there is a difference between the services provided by the service providers. For example as now it is brought to the public by Singtel, a major company in Singapore, thus we can expect the event to have a certain level of professionalism. However it is brought to the public by a smaller, not so famous company, we may not have high expectations at all.

Inseparable

Inseparability means that for services, there are products which would definitely come together with the service. Therefore for F1, it would mean the racing track, the different cars, the drivers, the grandstands and so on.

Perishable

Perishable means that the services cannot be stored for later sale or use. This is true about the F1 Grand Prix. The tickets and seats are limited. Thus they are either sold or empty. Thus for this year’s Grand Prix’s tickets and seats cannot be sold for next year’s Grand Prix.

Now I would evaluate the effective use of the marketing mix.

Product

For the Singtel Grand Prix, there are several ‘products’ Firstly would be the core product. The core product is defined as what the customer is really buying. Therefore in this case this would refer to being able to experience the races live at the tracks. Next would be the tangible product. This would refer to the things which the customer is able to see, touch, smell, hear, and taste. For example would be the racing track, the cars, and the pit stops and so on. Last but not least is the augmented product. For the Singtel Grand Prix, the augmented product would be the supporting services provided. This would mean the ushering to the seats, food and beverage stands, souvenir stalls and so on.

vodafone!

Place

Place refers to the physical site where the event had taken place itself and how it was designed and constructed to fit with the event. The place where the Singtel Grand Prix took place would be the Marina Bay Street Circuit. However, included in the place would be the different grandstands strategically positioned for the spectators to view the cars zoom pass. I feel that the positioning of the grandstands were very well done as the spectators felt that they were really close to the cars and everyone could feel the adrenaline rush.

Promotions

First of all, the Singtel Grand Prix was a huge event for Singapore. As a result, there was a lot of publicity for this event. This includes television commercials, newspapers, on the news, online websites and so on. The organizers of the Singtel Grand Prix had also came up with a bundle purchase concept where people can buy ticket passes for all three days of the Grand Prix at a special price. I felt that the promotions was done well as I think that almost EVERYONE from the age of 7 would know of the Singtel Grand Prix held in Singapore. The news had spread very fast that Singapore would host the F1 Grand Prix.

Partnerships

The Singtel Grand Prix has three main partners. First would be the title sponsor Singtel, partner Singapore Tourism Board and the organizer Singapore GP Pte Ltd. I feel that every partner had done a good job in helping to bring this event to a success. Singtel provided the capital for the event to take place; Singapore Tourism Board did several advertising for Singtel Grand Prix. Last but not least Singapore GP had organized the event.

People

The Singtel Grand Prix probably had a very easy people mix. This was because there are millions of Formula Grand Prix fans around the world. Thus all the fans would come over to Singapore, having a common goal which is to enjoy the race as much as possible. It had also brought together people from different races together. An example which I had witnessed would be that an Indian father had dressed his son up as the famous driver, Lewis Hamilton. As soon as the foreigners saw the small boy dressed as the world class driver, they came up requesting to take a photo with him.

young lewis hamilton!

Programming

Overall, the Singtel Grand Prix had quite a boring program list to me. Maybe it is because I was not a huge fan of the Formula 1 races. The programs for the Grand Prix were mainly car races and DJ performances. Thus I felt that maybe the organizers could diversify the programs available so that the visitors would not be bored at the Grand Prix.

Price

I am sad to say that I do not know much about the prices for the Singtel Grand Prix. This is because I was able to be at the Grand Prix as my friend’s father had treated me to watch it. I had tried to find out more from the Singapore GP website but they said that the price lists for Singtel Grand Prix 2009 would be posted soon. =(

Packaging

Based on the Singapore GP website, I found a package with Singtel Grand Prix tickets together with hotel rooms. There was also a package for the three day ticket passes as well. I felt that more could be done regarding this area as the organizers could think of more packages to reach out to more to the target market.

Discuss the tourism roles and economic values of Singtel Grand Prix

Overall, the Singapore Tourism Board had done a very good job in advertising to the world about the Formula 1 Grand Prix held in Singapore. What is more important would be the economic value of the Singtel Grand Prix. The Grand Prix had generated a lot of revenue for Singapore. Thousands of tourists from around the world had flocked to Singapore just to catch the race. Thus these tourists after watching the Grand Prix, they would then head to other Singapore attractions and this would in turn generate more revenue. Another economic value of the Singtel Grand Prix would be the sponsorship of Singtel. By sponsoring the Grand Prix, Singtel gets its brand logo printed on all Grand Prix merchandises, brochures, and souvenirs and so on. Thus Singtel’s brand name gets around the world. Also as sports channels such as ESPN would replay the Singtel Grand Prix, Singtel’s brand name gets around again. This could generate several business opportunities for Singtel as their brand name is now famous.

Conclusion

Finally, in conclusion, I feel that the Singtel Grand Prix had been successful. Although there could be several areas which could be worked upon, I had quite enjoyed myself at the Marina Bay Street Circuit. It is an experience worth experiencing (if you have the money) and I would definitely recommend you to catch it live.

References

1. Factiva, http://www.factiva.com/

2. Singapore GP, http://www.singaporegp.com/

3. Google Images, http://www.google.com/

4. Uniquely Singapore, http://www.visitsingapore.com/

5. Proof of visit