Formula 1 Dissertation

Advertising Research Project

Charges strategy for ‘Formula One India Racing Event' for Retail Customers

Stand of Material

1 . Promoting Research Goal: 3

2 . Introduction3

three or more. Mode of survey5

some. Survey Questionnaire6

5. References8

1 . Promoting Research Goal

What must be optimal cost for different classes of tickets at ‘Formula One India Racing Event' for Retail Customers? 1 ) Introduction

Formulation One is the very best class of single placed auto sporting authorized by Fédération Internationale de l'Automobile (FIA). The F1 season consists of a number of races, called Grand's Prix held about purpose-built circuits and open public roads. The results of each race happen to be combined to ascertain two annual World Competition, one intended for the individuals and one for the constructors. The game is a massive television function and each competition is observed by more than 600 , 000, 000 people around world. The european union is Formula One's traditional centre, where all of the clubs are centered, and where around half of the races come about. However , the sport's range has expanded significantly lately and Solution one event are being organized in several Asian countries including China, Turkey, Singapore, South Korea. More recently, American indian Grand prix has been declared. The 1st Indian Grand Prix's competition will be organised at the Jaypee International Competition Circuit in Greater Noida on August 30, 2011. The a few. 14 kilometers clockwise trail, coming up as part of an approximate 360-acre complex is being built for a cost of around Rs 1600 Crores. The main grandstand on the start-finish straight could have seating ability of 35, 000, whilst temporary grandstands will allow for another 70, 000. The general seating will probably be variable to a max potential of 30, 000 as well as the paddock-club can easily accommodate up to 5000. Approval for the investigation:

We believe that we now have 3 classes of Formula 1 Spectators in India my spouse and i. e. Corporate, High Net worth People (HNI's) and Retail consumers (General public). Traditionally, a Formula 1 event hosts about 150, 1000 spectators above two days and has been a costly sport to view with seat tickets prices including Euro 2 hundred to 20, 500. Corporate and HNIs may possibly have deep pockets to obtain expensive F1 tickets. Yet India like a developing country, the spending power of Price tag customers' is restricted. Thus, there is a need to check out optimal ticketed pricing to get retail clients which will ensure maximum engagement and further popularize the sports activities in India. We have as well taken into account the fact that contests in China and tiawan, Bahrain and Istanbul have got failed to make enough viewer interest among retail buyers due to numerous issues including inappropriate ticket prices. Consequently, we believe that there is a need to undertake a Marketing Analysis survey for finding the optimal rates for different classes of tickets for Full customers. Advertising Research Design and style:

F1 occasions are new to India and tickets (product) are being sold for first time in Indian Market. Moreover, the info about ticket prices, user's willingness to pay and also other market observations are not available. Therefore , an exploratory analysis design, depending on small samples, is needed to commence understanding the difficulty and gain insights. This exploratory analysis should be and then a detailed research.

installment payments on your Mode of survey

Function of review methods for the formula-1 race tickets:

We certainly have administered the survey forms in three major methods of surveying: Personal Meeting with, Electronic Meeting with, and Telephonic Interviewing. Personal Interviewing: There may be several ways to perform the personal interviews a) Nearby mall Intercept interviewing: In this survey technique respondents are blocked while they are shopping in the mall and brought to the kiosks particularly set up for this purpose. Its main advantage is that it is more efficient for the respondent to visit the interviewer than pertaining to the interviewer to go the respondent. Department stores are...

Referrals: [1] Solution One - Wikipedia: http://en.wikipedia.org/wiki/Formula_One

[2] Hindustan Times, Mumbai, September 08, 2010 -" Blueprint pertaining to India's Method One foreseeable future is here”

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