Formula 1 launch marketing strategy for China

Formula 1 held a China Strategic Marketing Conference at the British Embassy in Beijing on January 22, celebrating the 1,000th F1 Grand Prix to be held in China and launching a series of new plans for the Chinese market. 

On April 14, the F1 China Grand Prix will be held in Shanghai making it the 1,000th Grand Prix in the history of Formula 1. Formula 1 announced that the China Grand Prix hosting agreement has been renewed to 2020. In the mean time, CCTV will once again broadcast F1 races after five years of not showing the F1 race. 

F1 announced for the first time a China regional sponsorship system with the aim to develop more regional partners in China. The organization also plans to enhance its digital media and social media presence in China and develop merchandise. 

Murray Barnett, Head of Global Sponsorship & Commercial Partnerships at Formula One Management Limited, emphasized the importance of the Chinese market at the conference. He expressed the hope of finding local strategic partners, driving the development of F1 in multiple ways and making F1 stronger in China, influencing and affecting the entire Asia from China. 

The 19 year-old Chinese driver ZHOU Guanyu announced at the conference he had joined Renault as an F1 development driver. He’s been commonly described as the first Chinese driver who is capable of reaching F1. His presence in F1 certainly will play a role in the efforts of making F1 more influential in China. 

Reference: Sina

Proofread by Raymond Fitzpatrick