The Olympics
Back in 2007, when my uncle investigated the London 2012 Olympics for Dispatches on Channel Four, I became highly sceptical about the benefit of the Olympics. Would the games actually benefit the UK economy or would we end up paying for the large costs of hosting the Olympics in London?
In my uncle's documentary, ‘The Olympic Cash Machine’, he uncovered a Whitehall memo to Olympics Minister Tessa Jowell which suggested that she had known about the increasing costs of the Olympics long before she had informed Parliament. She had only underestimated the budget by 7billion but I guess it must have just slipped her mind. A Homer Simpson ‘D’oh’ moment!
Brand Building around the Olympics
Politics and controversy aside, there is no denying that as the Olympics approaches everyone is becoming more excited and enthusiastic about the world’s largest sports event happening in our fantastic city! I was keen to hear what businesses thought about the Olympics and ways it could benefit them. The expert briefing on 'Brand Building around the Olympics', put on by the PRCA, gave me the opportunity to do so.
As the buzz around the Olympics grows businesses have a massive opportunity to engage with their customers in a completely unique way. But, as Eddie May from Threepipe Communications made clear, there are some serious ramifications if you do not adhere to LOCOG Olympic guidelines when advertising and marketing your brand. He stressed the importance of familiarising yourself with these guidelines to avoid your campaign being shut down and all of your hard work lost.
He also gave great insight into the opportunities of being one of the few Olympic sponsors such as CocaCola, McDonalds and Samsung, despite the large costs. The price tag to be associated with the Olympics is so large because the Olympics represent more than just an athletic event. History, integrity, freedom and friendship are all affiliated with the Olympic brand which makes it one of the most prestigious brands in the commercial world. No wonder it costs so much to put the logo on your product.
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Westield Stratford City
On a more personal note, I can’t contain my excitement about the opening of the new Westfield centre in Stratford. It’s going to be my new local shopping mall! Fortunatley I live 15 minutes from Stratford station so commuting there will take less time than commuting to the current Westfield in Shepherd’s Bush. Mark Zimmer, Head of Olympic Brand Alliance, showed us a 360 virtual map of the shopping centre which sits right next to the Olympic park. There is a great view of the stadium from some of the executive suites and function rooms – hopefully someone will invite me!
I was pleased to hear that they will be employing local residents and training the unemployed to help them start a career in retail, leisure and hospitality. It’s always a good thing to give back to the local community, especially when there is a high rate of unemployment in the area, and with a massive retail centre opening up it’s a great opportunity to do so.
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| Wesfield Stratford City Retail Park | via westfield.completelyretail.co.uk |
East London
I love the creativity, the culture, the diversity, which differentiates East London from most other parts of the city. Sadly many people have a clouded perception of the area, which usually consists of knife and gun crime, theft and poor housing. Although hosting the Olympics in Stratford will have massive economic benefits to the regeneration of the area, I am concerned that with many businesses flocking to the East, the area could become another expensive financial district, which would leave the locals and the legacy of East London tragically behind.
Carl Welham, of Hackney council, was positive about promoting and protecting the legacy of the community during and after the Olympics. He remained focused on ensuring the creative essence of Hackney is preserved within the development of Hackney House, an expo and media centre built in the heart of Shoreditch. The large amount of research his team did to uncover the reality and perceptions people have of the area, to then incorporate it into the design and function of the building, is a fundamental and integral part of the development. Especially if the ‘uber-trendy’ artistic atmosphere of the area is not to diminish.
This is my last week at the PRCA so I will be writing a short farewell note and update you about my last week in a few days.
Thank you,
Kourtney Shaw

