F1 Grand Prix

In this field trip assignment, I have chosen the F1 Grand Prix as my event. I was at the bay grandstand and the atmosphere there was just simply amazing! Just a little history of the F1 Grand Prix, Formula One, abbreviated to F1, is the highest class of open wheeled auto racing. The “formula” in the name refers to a set of rules to which all participants and cars must conform. The F1 world championship season consists of a series of races, known as Grand prix, held usually on purpose-built circuits, and in a few cases on closed streets. The result of each race are combines to determine two annual World Championships, one for drivers and one for constructors.

Product

Now I shall talk about the marketing mix. Firstly, I shall talk about the product. The product that F1 Grand Prix is selling is their race and the unique experience. In Singapore’s case, it’s the thrilling night race that will attract people to go and watch the race. Not only that, the high class service by the organizer is also something that people will go there for. This is what differentiates people from watching the race at home and watching there live. as you can see, this product that they are selling are intangible and they would need those tangible areas such as the comfortable seats or the atmosphere that they created. Service also plays a big part in this event and thi includes guiding spectators to their designated seats.

Place

Next would be the place. I am very impressed by how they facilitate people to their seats. It is fast and efficient and they do that with a smile. Finding toilets and food to eat is quite easy as they have sign boards to guide us on the way. I was over the moon when I find out that I could be so close with the cars as I have observed from the other races, the spectators could not be such close to the cars. Traveling to the place was a little crowded as I took public transport. It was expected but it was not that bad and the race made it all worthwhile.

Partnership

Partnership is next. For Singapore F1, they have Singtel as their main sponsor. With Singtel being their sponsor, they can market the event effectively as Singtel provides a wide coverage from mobile phones to internet and this could definitely reach out to a lot of people.

Promotion

The promotion efforts that Singapore F1 has put in are tremendous as the race is being advertised as early as the start of the year. The results of this promotion is the success of this race and through the various channels that they reach out to, the race is being notices worldwide and this not only brings the attention to Singapore, it also places us in a superb position as the success of the race shows what Singapore is capable of despite being a small country. With effective promotion, economic gains will follow and the boost in many industries that the race has brought is very significant.

Programming

There are different programs that we can enjoy in the

different days of the race. During different timeslots, we can enjoy different genres of music that the artiste perform and I am pleased that they have came up with

this idea as is would compliment to this event.

Packaging & Distribution

The way Singapore F1 has packaged and distributed them is also very successful as they sell themselves as the first night race ever and this new idea have surely intrigued many race lovers and they would not mind paying a hefty sum of money just to view the race for three nights. As for me, I do not mind paying a few hundred bucks to view the race as the experience in return is something that money can’t buy and it’s once in a lifetime!

People

The people that watch the race is also fantastic and they really can make a difference to the race. Every time the cars zooms pass, the crowd will be cheering for their favorite racers or teams and this interaction with other crowds makes me all hyped up. When the final race had started, the crowd went almost crazy and you could see them cheering and shouting what a fantastic scene! Not only I can feel the passion within the crowd at the grandstand, even after the race, as I passed by the shops I can still feel the lively atmosphere and it is as if the night have just started after the race!

Price

The price of the tickets I have bought cost me around $160 and I think it is worth it. With thickets selling as high as $1200 each, people may wonder if the price they pay is worth for a view of the race for 3 nights. I was a bit reluctant to pay such a amount for the race at first but thinking it is a first ever night race and it is being held at Singapore, I had to go down and watch the race or I will be missing something fantastic. Therefore there must be strategic pricing tactics and what they have to offer for the different price that the customers pay plays a big role as different people are expecting different standards and if you could satisfy their standards, I believe that they would pay a large amount to watch the race.

From my experience and what my friends have told me, Singapore F1 have used the marketing mix to its optimum as they have maximize their marketing strategy and they fair well in all the different areas of the marketing mix. They have not left out any part and they used some of their strength to cover their weaknesses and this is what I think is most important as no matter how well prepared you are the race will not be perfect. The efforts from the organizers and the people that participated in the race make this all possible and it definitely made us Singaporeans proud.

Singapore F1 could improve on their place as people might get bored watching after a while and they could improve on that by adding more activities that can make the crowd to be more interactive so as to make them focus on the race rather that get distracted by something else. we also need to travel a distance to have food and I hope that they can make food available easily so that we need not travel so far just to get our food and we may miss out the exciting parts of the race.

Roles of event to Singapore and its value to the tourism economy

Place marketing

Singapore GP has met the roles of place marketing. Being the first ever night race, it is challenging to hold this event. With the end of the event, we can see that it is a great success and this have created a positive impression to other countries.

Tourist attraction

Being the first ever night race, people are still new to this idea and they would like to come down to see for themselves how this race could be held in the night. This is one strong attraction that will attract people to come. F1 also have a long history and the success of the past events have made people have a great expectation of the event. For those racing fanatics, they would not miss this race and therefore we have a large crowd watching this race.

Image maker

The image that Singapore GP has gave people is very important as this will open up a lot of opportunities for the different industries. With the success of this race, I am sure that it has bought many business opportunities as the other countries have seen how capable Singapore is by holding such a major event and they will have a certain level of confidence in us.

Catalyst

Singapore GP have acted as a catalyst for the sporting industry and I believe with the Youth Olympic Games coming up, we could successfully transform Singapore into a sports hub and change the image from people that Singapore is the place to be only for business trips. Not only it will boost the sporting industry, it will also create a spill over effect to other industries and it has a positive impact to both economically and politically for the country.

Animator

As Singapore GP is being held for the first time, people still have the fresh image and they would definitely want to come back and watch the exciting night race again. Even though there are races over the world, there are different tracks and deferent experience and I am sure that the night race will continue to attract people to come the following year.

Conclusion

My feelings for this race have been a pleasant one and this race made me see Singapore in a different way as it has definitely brighten up the dull nightlife of Singapore and the event have successfully made use of the marketing mix effectively to their advantage and the results is the crowd that they have attracted. I look forward to the next race that they are going to hold and I believe that there would be even more surprises and what other programs that they are going to come up with.