marketing the calgary stampede to australia
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Marketing the Calgary Stampede to Australia. Stephen Edge Kai Holloway Andrew Lai Tony Vo Vicky Wong. Introduction. Market the Calgary Stampede to Sydney, Australia Strong cultural similarities Strong economic stability. The Calgary Stampede. Founded in 1912 by Guy Weadick . - PowerPoint PPT PresentationTRANSCRIPT
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Marketing the Calgary Stampede to Australia
Stephen EdgeKai Holloway
Andrew LaiTony Vo
Vicky Wong
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IntroductionMarket the Calgary Stampede to Sydney,
Australia
Strong cultural similarities
Strong economic stability
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The Calgary StampedeFounded in 1912 by Guy Weadick. Vision was to celebrate romance and
authentic culture of Old WestEvolved into the world famous 10 day
StampedeAttracts 1 million during the 10 days, and 4
million yearly2008 net income was $10.4 million
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The City of CalgaryAs of April 2009, population of 1,065,450
5th largest metropolitan area in Canada
During 2007, 4.85 million visitors to Calgary and Area.
2.95 million stayed at least 1 night
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Average length of stay
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Visitors segmented into seasonsVisitors to Calgary and area by season
Q1: Jan-Mar Q2: Apr-Jun Q3: Jul-Sep Q4: Oct-Dec All overnight 18% 23% 34% 25% By market Alberta 22% 19% 27% 32% Other Canada 18% 24% 33% 25% United States 6% 32% 52% 10% Overseas 14% 28% 47% 11%
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Economy of AlbertaEnergy is Alberta’s main source of GDP
Roughly accounts for $89.94 billion
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Economy of Alberta$69.1 billion in exports. Crude oil accounts
for $30.7 billion, or roughly 44%Only province to have financial net assets
above 0 Third lowest unemployment rate at 6.6%Highest after-tax family income, median of
$75,300. Canadian average is $61,800
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Growth from 1999-2009
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Australia’s Environment:PoliticalConstitutional monarchy (Australia Act of
1986), with QEII as monarch, like CanadaVery stable governmentStrong contemporary Australia-Canada
relations: Gulf War (early 1990’s), East Timor (1999), Afghanistan
Common international memberships: UN, Commonwealth, WTO, APEC (Asia-Pacific Economic Co-operation)
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Australia’s Environment:CulturalInterpersonal values:
+ sincerity, modesty, humility, punctuality- pretentiousness
Demographics:
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Australia’s Environment:CulturalGeert-Hofstede cultural dimensions:
Very few cultural differences
Australia Canada China
PDI (Power Distance) 36 39 80IDV (Individualism) 90 80 20UAI (Uncertainty Avoidance)
51 48 60
MAS (Masculinity) 61 54 50LTO (Long-term Orientation)
31 23 118
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Legal Environment
Australian Law
Federal Power
Laws on trade Taxation Commerce Defence External
affairsImmigrati
on and citizenship
State Territorial Power
Anything else
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Legal EnvironmentEqual treatment of foreign firms
Excellent competition law
Excellent independent judiciary
Strict intellectual property protection
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Business EnvironmentQuarter Ended
Change from previous year (%)
Inflation over previous year (%)
Unemployment rate (%)
Dec 2009 2.0 2.1 5.6
Sep 2009 1.0 1.3 5.8
Jun 2009 0.3 1.5 5.8
Mar 2009 0.3 2.5 5.4
Dec 2008 0.6 3.7 4.5
Sep 2008 2.0 5.0 4.3
Jun 2008 2.7 4.5 4.2
Mar 2008 3.7 4.2 4.0
Dec 2007 3.9 3.0 4.4
Sep 2007 4.0 1.9 4.2
Jun 2007 4.4 2.1 4.3
Mar 2007 3.5 2.4 4.5
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Business EnvironmentTime zone is 10 hours ahead of GMTCorporate income tax = 30%No restrictions on trade related paymentsLow salaries for highly skilled laborEconomic operating costsComprehensive infrastructure at competitive
pricesSydney is a global city at an affordable price
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Business EnvironmentPrefer win-win negotiation
style
Greetings relatively casual
Very friendly
Very matter of fact
Appointment necessary
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Business EnvironmentBusiness attire conservative
Presentations fact based
Very direct
Negotiations quick
Decision making slow
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SWOT ANALYSISSTRENGTHS- seasonality- excellent political relations- common language- Rodeo and Rocky Mountain getaway - few barriers to overcome to do business- Calgary Stampede celebrity appearances- Possibility of US excursion
WEAKNESSES
OPPORTUNITIES THREATS
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SWOT ANALYSISSTRENGTHS- seasonality- excellent political relations- common language- Rodeo and Rocky Mountain getaway - few barriers to overcome to do business- Calgary Stampede celebrity appearances- Possibility of US excursion
WEAKNESSES- Distance- little to no prior exposure of our marketing campaign- existing Rodeo market in Australia- Canada and Australia may be too similar- High advertising costs
OPPORTUNITIES THREATS
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SWOT ANALYSISSTRENGTHS- seasonality- excellent political relations- common language- Rodeo and Rocky Mountain getaway - few barriers to overcome to do business- Calgary Stampede celebrity appearances- Possibility of US excursion
WEAKNESSES- Distance- little to no prior exposure of our marketing campaign- existing Rodeo market in Australia- Canada and Australia may be too similar- High advertising costs
OPPORTUNITIES-Advertising outlets: billboards, radio, television, etc. - 46% of foreigners come to Calgary from July- Sept- partnerships- Sydney’s airport and excellent infrastructure- Australia’s strong economy
THREATS
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SWOT ANALYSISSTRENGTHS- seasonality- excellent political relations- common language- Rodeo and Rocky Mountain getaway - few barriers to overcome to do business- Calgary Stampede celebrity appearances- Possibility of US excursion
WEAKNESSES- Distance- little to no prior exposure of our marketing campaign- existing Rodeo market in Australia- Canada and Australia may be too similar- High advertising costs
OPPORTUNITIES-Advertising outlets: billboards, radio, television, etc. - 46% of foreigners come to Calgary from July- Sept- partnerships- Sydney’s airport and excellent infrastructure- Australia’s strong economy
THREATS-Australia’s existing rodeo cannibalizing our marketing efforts- Australia’s strong dollar
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RISKS AND MITIGATIONRISK MITIGATION
- Presence of domestic Rodeo’s which may act as substitutes
- Emphasize Calgary Stampede claim to being world’s largest outdoor rodeo- Calgary Stampede’s star power- Close proximity to many other tourist attractions
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RISKS AND MITIGATIONRISK MITIGATION
- Canada and Australia may have too much in common
- July is Australia’s winter and Canada’s summer- Stampede tour package which includes Banff and Jasper as an optional excursion
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RISKS AND MITIGATIONRISK MITIGATION
- Exchange rate risk
- Canadian firm can enter into foreign exchange contracts for the interim period, effectively eliminating exchange losses.