Missing out on Olympic Gold

The survey reveals that marketers are largely ignorant as to what activities they will be able to undertake in relation to the London Olympics. When asked about their understanding of the London Olympic Games and Paralympic Games Act 2006, a staggering 40 per cent said they had no understanding at all, and a further 46 per cent said they only had a very poor or poor understanding of the law. Just 14 per cent described their knowledge of the law as good.

Commenting on the findings, David Thorp, director of research and information at The Chartered Institute of Marketing said “The 2012 London Olympic Games should be a fantastic opportunity for UK marketers to participate and raise their profile worldwide but with sponsorship limited to a select few global brands the vast majority of UK plc is likely to miss out. Those marketers planning activities must be fully aware of the Olympic Games Act, otherwise we are likely to see a string of court cases brought against the ill informed.”

When it comes to their own organisation’s participation, time appears to be mellowing marketers’ attitudes. Nearly a quarter of marketers (23 per cent) now say that they are certain or very likely to undertake marketing activities connected to the London Olympic Games, and just 28 per cent say they are certain not to or not at all likely to participate – down from the 37 per cent consistently seen over the last couple of years.

The survey also reveals that more than three quarters of the marketers polled (76 per cent) believe the London Olympics will generate a positive perception of the UK around the world, with just 8 per cent thinking it will harm the UK’s image.

With regard to the economy, again marketers remain enthusiastic, with 79 per cent believing the London Olympics will have a positive impact on the British economy, and only 10 per cent thinking it will not.

As you’d expect, marketers in the South of England were most positive, whilst those in the North of England and Scotland were least enthusiastic about the primarily London-based event. Indeed, 59 per cent of marketers in the North believe the 2012 Olympics will only benefit marketers in London and the South East.