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Summer games and winter games

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Beijing has become the first city to host the Summer Games (in 2008) and Winter Games (in 2022). China has invested nearly $4 billion to host the Games (Forbes, 2022). Winter Olympics is a huge marketing opportunity for sponsors - a showcase for brands. However, Beijing 2022 is also causing a huge headache for the 13 official corporate partners of the Games. The official worldwide partners of the Olympics are Airbnb, Alibaba, Allianz, Atos, Bridgestone, Coca-Cola, Intel, Omega, Panasonic, Procter & Gamble, Samsung, Toyota, and Visa. On one side is the lucrative market of China with a population of 1.4 billion people, the world's second largest economy and a significant growth region for brands. On the other side, there is an increasing negativity surrounding China in the Western countries. A recent survey from Pew Research found 67% of Americans have an unfavorable outlook concerning China compared to 46% in 2018. This trend is also prevalent with other Western democracies. Multinational companies find it increasingly hard to remain neutral in the great power contest between China and the US. A primary reason for the silence is the financial importance of the Chinese market for Olympic sponsors. According to Bloomberg, ten of 12 largest Olympic sponsors, including Toyota, Intel, Coca-Cola and Procter & Gamble generate $110 billion in revenue just in China.

1. If "Winter Olympics" is a product/service, apply the "need", "wants" and "demand" concept in case of Winter Olympics. What could be a "utility" for viewers in case of Olympics?

Reference no: EM133379352

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