Friday 8 March 2013

Marketing the Sochi Olympics

The resort city of Sochi, Russia, is the location of the Winter Olympics  scheduled to open on 7 February, 2014. As a figure skating fan, I'm looking forward to seeing the world's best skaters in four disciplines--men's, ladies, pairs and ice dancers--compete next year.

Located on the Black Sea, Sochi is being transformed to host the Olympics with massive investments in new venues, new hotels and new infrastructure. Media around the world are getting ready for this special event with coverage of local athletes and teams, as well as historical results of previous winter Olympics.

What about the business side? Global sponsors are busy preparing marketing plans for activities and adverts prior to the games and at Olympic Village.

Merchandising (both online and in stores) can be highly lucrative, so expect to see a wide range of mascots, pins, clothing and other products very soon. The leopard shown here is one of Sochi's official Olympics mascots, already being licensed for sale in 500 stores within Russia. By the time the Olympic torch reaches Sochi, 5,000 branded items will be available in 8,000 Russian retail locations.

It's still early for social media coverage, but you can check the official Facebook page, which has 71,000 likes at this time.