F1 Formula in Singapore Essay Example

F1 Formula in Singapore Essay Example F1 Formula in Singapore Essay F1 Formula in Singapore Essay Essay Topic: Everything Is Illuminated The largest sporting event in Singapore, Formula 1 Singapore Grand Prix, and official name called the Formula 1 Singtel Singapore Grand Prix. It was announced that the telecommunications company Singtel would sponsor the event in November 2007. After signing a five-year deal, it will be set the first ever night race Singapore’s Marina Bay street circuit and also be Asias first F1 street race in 2008. In one of the sports most striking settings, the street circuit snakes through the shimmering skyscrapers along the harbour side of the wealthy Asian financial hub.In other words, the timing of night event means it can be broadcast at a convenient time for European TV audiences. The track also will be illuminated by projectors which match the shape of the course. F1 has put Singapore on the world map, and it continues to put country on the world map year after year. Formula 1 has given the country many benefits. According to the figure from Singapore Tourism Board (STB), this event attracting some 150,000 international visitors over the last four years and injecting about S$600 million into the local economy, must also continue to remain steady.Furthermore, it has been watched by more than 360 million TV viewers in Singapore race. Singapore Grand Prix agreed that Singapore will continue to host the Formula 1 night race for the next five years till 2017, and cut overall costs of organising the Singapore Grand Prix (SGP) event by 15 to 20 per cent. A study has shown that Singapore is likely to reap greater economic spin-offs in tourism and investment from Formula One (F1) the next five years. Objectives- First, formula 1 can act as an annual engine to drive tourists to Singapore.According to the study showed that the race attracted more than 150,000 international visitors over the last four years and about $140 to $150 million in incremental tourism receipts each year. In addition this event promoted Singapore in terms of its investment opportunities, key industries, innovations, people, culture and international objectives. Target Publics- However, Singapore Government and Singapore GP play their role as an organisation’s top management and as technicians who produce and disseminate messages in multiple media channels in this PR campaign.It is not just the releasing of information after a decision has been made, also involves counseling and solve the problem at high levels. The role of foreign viewers of the event on media is target audiences to give feedback to the organisation and as free advertising’ to introduce Singapore to others. Plan of Action- Problem: Singapore will continue to host the F1 Grand Prix till 2017. It wants attract more tourists and foreign investors for the next five years. Objective: 1. Singapore Government must have to look hard to cut overall costs of organising the event by 15 to 20 per cent for future races. . Singapore Government to assure that more will be done to address traffic congestions and complaints from businesses that have been hit by the road closures around the Marina Bay Street Circuit. 3. Singapore Government needs take into account to attract more tourists and foreign investors. F1 bring the net economic benefit to the country. Target Audiences: 1. Tourists 2. Foreign investors Strategies: 1. Leisure and Entertainment Government must work with local business to attract tourist coming to Singapore during the F1 race, such as hotels, restaurants, spas, shopping centre and so on.There can also be F1-IR twin worldwide promotions, selling family packages that include Marina Bay Sands rooms, Universal Studios admissions. In fact, some people don’t come to the watch the race, just to party. Outside of the F1 event, Singapore also must offer plenty of cultural and leisure pursuits such as Marina Bay Sands, Resorts World Sentosa, casino, Garden by the bay, Night Safari, Singapore Art Museum’s program for September, Universal Studio, shopping at Orchard road and Singapore Flyer etc. For example: a.F1 Grand Prix in September, Shell and Cold Storage have launched a marketing initiative whereby customers who spend S$30 at Cold Storage will receive a free S$2 Shell fuel voucher. b. Singapore hotel with great views are running out fast for F1 Singapore. That has Great special offer and discounts in most of the hotels near Marina Bay and central district area in Singapore. Early bird promotion! 2. Advertising As is well known advertising is a good way to present and promote the most persuasive possible selling message to the world for Singapore Formula 1 event.Advertising is information placed in the media. There are two types of media that is traditional media and new media. Government can use those two types of media to advertising and promoting a positive image of the event such as radio, TV, cinema, newspapers, magazines, outdoor ads, posters, internet- website, social media – Facebook, Twitter etc. 3. Operation efficiency of the traffic system in the area Government must taking into account to address the road closure and a lot of accidents caused by the reduced visibility of the road block otherwise it will cause inconvenience to the tourists.It takes hours to get into town and clogs up everything in Singapore. The lost dollars in productivity is more costly than the little financial benefit that the race brings, which is primarily to the richest tier in Singapore. 4. Heighten security measures and monitor air and sound pollution Singapore must provide a safe and clean place for whose coming to here during the race. The Security Systems division in Singapore offers a complete range of security and communication solutions including CCTV, building integration system, intruder detection, public address, fire alarm and voice evacuation etc.Government also need to try their best to monitor the sound and air polluting caused by the event. Tactics: 1. Social Media- it is still a reasonably good ad medium for certain type of advertising. Use it a mechanism to highlight your ad via upload the image. Put the Formula 1 Singtel Singapore Grand Prix’ is a right choice of headline to grab attention to the public. And it will get another 135 character to describe and entice in the body of the ad. 2. Mass media- Each year, concerts by leading artists entertain ticket-holders between races.These concerts have become just as much a part of the Singapore F1 experience as the races themselves, and for many they’re even the main highlight. 3. Magazine- Magazine advertising is one of the most powerful marketing tools available. No matter what event date is fast approaching, magazines know that the focal point lies now in brands and services that will give consumers a reason to attain these depending on what lies ahead. However, magazine advertisements is the fact that ads can look realistic and can jump out at readers, because of their glossy detailing and show of colors that calls for attention.The publishing industry offers a diverse selection of magazines to appeal to young readers and more mature readers with various concerns and interests. By advertising in magazines, we should write an article to introduce Singapore and Formula 1 event. Time magazine is the worlds largest circulation weekly news magazine with a readership of twenty-five million. Budget: Singapore is said to pay an annual fee of about US$40million fee is expected just for hosting and TV broadcast rights. In a new five-year deal that will last until 2017 and cut overall costs of organising the event by 15 to 20 per cent.Launch the Campaign: Singapore Government appoints a public relations company to assist with the promotion of Formula One. Improving F1? s image is certainly a priority, F1 is not nearly as good as other sports including motor racing. In fact, F1 is perceived to be environmentally unfriendly, wasteful, boring and stratospherically expensive. PR certainly could have had a role to play in provide by reason of qualifications, experience and training, advice to a business and if invited, implement measures to solve PR issues by working with the organisation. Monitor the progress:Generally, government can start published all advertising 1 month before Formula 1 sport car event. Singapore environment agency and the race promoter to assess and manage the impact of sound pollution from the F1 race, and to put in place pollution control measures to prevent any accident spillage of oil from the pit area and the race circuit into the Marina reservoir. Evaluate: After launch the PR campaign, organizations should hold the meeting called a progress meeting’ and the minutes may be called a progress report’. Ideally, these meeting should be held monthly.Government must gain the stakeholders support, working with stakeholder to mitigate possible negative commercial impact and build up goodwill for future collaborations in major event. A separate BCG survey said 70 per cent to 90 per cent of business owners and top management of mid-sized companies had improved perceptions of Singapore due to F1. Five per cent to 10 per cent of them are now keen to invest and do business here. Formula 1 sports car racing was the biggest whole-of- government project ever, and the amount cross-agency work was enormous.Led by the STB, many agencies including the Land Transport Authority, Singapore police force, Singapore sports council and the people’s association lent their support to make race a success. Conclusion a. Some retailers in the vicinity have long complained of the dip in shopper traffic during the race due to road closures, causing transport difficulties and a loss of trade for certain shopkeepers. A street-circuit race would also require roads to be closed for almost a week downtown. It would take six weeks to set up the race and three weeks thereafter to dismantle, meaning more traffic disruptions. 1.With a series of road closures in the Marina Centre and City hall area happening during F1 event, government should communication and work with transport agency to add train trips on its MRT lines and extended train and bus service timings. Train and bus schedules have also been adjusted so that passengers taking the last train service from the city will be able to connect to other MRT and LRT lines. The transport provider has also reduced waiting time with trains on the east and west-bound lines arriving every four minutes while those on the north and south-bound lines will arrive at approximately every three minutes.This will happen from 9. 15pm on all three race days. 2. As well as Public Relations includes two-way communication. Along with dissemination of information, it is equally important to gain feedback from the audiences. However, political leader will is needed to convince the people that F1, despite the short-term inconveniences, has long-term benefits such as more jobs and creating a city with more buzz to make it to the big league. 3. The circuit infrastructure, such as concrete barriers and fences has to be hastily installed, and equally hastily dismantled, to minimise inconvenience to citizens and businesses. . A US$40million fee is expected just for hosting and TV broadcast rights. Singapore hosting F1 is not without costs. That is critical for the Government to cut overall costs of organising the event by 15 to 20 per cent for future races. According to the press that amount of money brought in about $160 million in tourist dollars highlighted at the start of the thread is too little given the cost. By use of advertising campaign, we can choice and use of media to achieve maximum results at minimum cost will make the advertising cost-effective.Nowadays, Internet is very common in the world. Government can use social media, new advertising strategy which is Facebook, twitter and blog etc for low cost in order to promote F1 to the world. For example, Facebook may be suitable for building on your fan pages and it able put like us’ button right in the ad, People don’t even have to visit your page also can get latest news and information in their own wall’. In addition, government also can send e newsletter to the public through email.