Festival and Event Management

Question: Discuss about the Festival and Event Management. Answer: Introduction The event of Australian Grand Prix is the event of motor racing that is mostly being held once in a year in Australia. The event is proposing to have an idea of hosting Formula One until 2023. It is one of the oldest surviving motor racing competition prevalent in Australia. Its first run occurred at the Phillip Island in the year of 1928, but in the year of 1985, it took part in the round in the Formula One World Championship (Andersson, Getz Mykletun, 2014). The recent event of this motor racing of Australian Grand Prix occurred in Melbourne (Masterman, 2014). Evolution and Growth of Australian Grand Prix The first event of Australian Grand Prix featured in the year 1928 instead of appearing in F1 calendar which was held at Phillip Island Circuit. It was such a successful event that it became the eye-catching centrepiece of the Tasman Series from the year 1964 up to the year 1969. Apart from that, this event has been an active part of the Australian Drivers Championship in between the years of 1957 to 1983 (Apostolescu et al., 2015). From the duration of an evolution of the Australian Grand Prix, it has two venues, one in Adelaide and the other one in Melbourne. With growing year per year, the demand for the event increased its pace within the people of Australia. Its growth is calculated with every growing era. In the year 1928, its first race caused in Phillip Island, then afterward the race moved to its pace through the Mount Panorama Circuit in Bathurst in the year 1938 (Masterman, 2014). After that in 1953, the Australian Grand Prix took its first trial for inclusion in the F1 Ch ampionship. Further in 1964, it took its major place in Tasman Series, and it finally remained in its higher place until 1969. Finally, in the year 1985, the Australian Grand succeeded in becoming the speed race in Australias Formula 1 world Championship which in later condition went to the Adelaide Street Circuit (Apostolescu et al., 2015). Afterward with every growing year, there occurred the enhancement in the quality of the event and I the year 1996 it held at Albert Park in Melbourne (Peachey et al., 2014). With this development from Adelaide to Albert Park, the Formula1 made its history in Australia that led to the success by performing back to back successful races. Along with there were many more developments in this sector that led to the development f the long curves and narrow roads which transformed them to susceptible for overtaking by making it suitable for the drivers. By the result of which the tracks of the city centre circuit were transformed in such manner to form as per the famous Monaco Track (Peachey et al., 2014). The event can be tracked from its website www.australiangrandprix.com, and it is coordinated every year annually that comes under the contract of the host Formula One (Masterman, 2014). In this event, the government of Australia and the race organizers of the Australian Grand Prix make their claim that the economic benefits that are coming out from the race will go towards the state or the country (Peachey et al., 2014). The growth of the Australian Grand Prix rose to its value after it occurred in Adelaide in the year 1985 with the round of Formula One World Championship. Further, the race held n the year of 1995 it became very challenging, demanding and very much tricky one with the comparison to the other events of attrition (Peachey et al., 2014). It mostly became eye-catching for its famous events with its popular drivers and the teams along with the fans cheering at the circuit (Peachey et al., 2014). The development of the Australian Grand Prix became popular due to the Adelaide Street Circuit where the population gets their circuit filled with the team and drivers of the race. The Adelaide race or the event is a type of battle in itself which takes the whole of its time duration, as the Adelaide race took the period of two-hour limit. In most of the instances, it is very sad that the Australia is the host country, but it always lacks in its winning. Marketing of Australian Grand Prix This event has emerged in the Australian environment to provide the complete amount of entertainment experience to the public. Also, this event is comprised of packed on track and off track events. As the event of Australian Grand Prix comes under the contract of the Formula One, that is the reason Formula One does the marketing of t by increasing many more events in the scenario to increase the interest of the population. For the marketing of the Grand Prix among the population, it has started the skateboarding, high wire motorcycle act, flair moto trails, freestyle football, kids zone, air show and many more events. It is just because to increase the interests of the population towards the race event. Again in further process, it could be suggested that all the events must be there near the track so that the people will also enjoy the race without missing any game (Masterman, 2014). Apart from that, there were the planning of the placement of new widget in the Grand Prix website th at will provide ease to the fans and the customers to get through the schedule and the calendar of the events (Petrick, Bennett Tsuji, 2013). Furthermore, the organizers are mostly suggested to go the promotional events that will make the people aware regarding the Grand Prix and along with that it helps in attaining the nearer review from the customers about the issues. By the help of which these organizers can reach the fans, those were on-track which will be enabled through the precise marketing. Other Competing Events Apart from the Australian Grand Prix, there are many other games those were having their craze within the people. Those events that are happening in Australia are the Summer Olympics, Common Wealth Games, Australian football, horse racing, Cricket, etc. The upcoming game events that are to be conducted in Australia are the Summer Olympic Games and the Common Wealth Games to be hosted in Australia, 2018. These events are also famous as compared to the Grand Prix (Petrick, Bennett Tsuji, 2013). There is also the inclusion of other racing events which gives some similarities with the Grand Prix. Apart from that, the other similar events are the Argentine Grand Prix, Belgian Grand Prix, etc. The Australian Grand Prix comes under the Formula One organization of motor racing that is the reason this event will be in F1 race location and with the cheap tickets which will be easier for the population. Therefore the event comes under a very high standard in the event lifecycle. Promotional Event of Coca-Cola in Australian Grand Prix The Coca-Cola Company has planned for its investment in the Australian Grand Prix event to increase its publicity and market value in Australia. That is the reason Coca-Cola planned to make its campaigning in the Australian Grand Prix event. Due to this, the company started a special campaigning on the fields of circuit to have direct interaction with the people. Along with that, the company started its special attractions by spotting new offers to the people in the event. The company has provided a special attraction in which the Coke Zero and the Coke bottle contain a QR code which will help the customer in unlocking the code and identifying the song (Masterman, 2014). After this, the customers can create a playlist by which they can share song on the internet. Apart from the event was filled with the digital campaigning of Coca-Cola. Also, there was the provision for the customers to submit their messages through the Coke Zone after buying it which will be seen on the billboards a t the event. Coca-Cola also campaigned the recycling of its bottles by taking photos in the event which also enhanced its market values within the customers in the Australian Grand Prix. Conclusion The report went through the detailed explanation of the Australian Grand Prix in the Australian market. Along with that, the report gave the growth scenario of the event in the Australian market as well as the comparison in between the competitive events in Australia. Further the report gives the explanation of the promotional marketing of Coca-Cola Company in the event of Australian Grand Prix which makes the enhancement of the marketing strategy of the company. It also enhanced the market value of the company as well as the product of Coca-Cola Company in Australian Grand Prix. References Andersson, T.D., Getz, D. and Mykletun, R.J. eds., 2014.Festival and event management in Nordic countries. Routledge. Apostolescu, P., Antony, J.M. and Srinivasan, P., Novell, Inc., 2015.Security event management apparatus, systems, and methods. U.S. Patent 9,111,092. Gupta, P., Gaonkar, S., Majji, S. and Vaidyanathan, S., Ittiam Systems (P) Ltd., 2016.Method and architecture for exception and event management in an embedded software system. U.S. Patent 9,239,743. Masterman, G., 2014.Strategic sports event management. Routledge. Peachey, J.W., Cunningham, G., Lyras, A., Cohen, A. and Bruening, J., 2014. Exploring participant motivations to take part in an elite, multinational, sport-for-development event.Event Management,18(2), pp.153-168. Petrick, J.F., Bennett, G. and Tsuji, Y., 2013. Development of a Scale for Measuring Event Attendees' Evaluations of a Sporting Event to Determine Loyalty.Event Management,17(2), pp.97-110. Patterson, I. and Getz, D., 2013. At the nexus of leisure and event studies.Event Management,17(3), pp.227-240.