(Solved) Events Marketing - PDF
14 Pages2539 Words36 Views
Added on 2021-04-17
(Solved) Events Marketing - PDF
Added on 2021-04-17
ShareRelated Documents
Running Head: Event Marketing RED BULL Understanding Marketing and Events
Event Marketing 1Table of ContentsIntroduction......................................................................................................................................21.Explain how special events are defined and classified. Your definition should draw uponrelevant core texts and examples.....................................................................................................22.Explain the key marketing activities undertaken by Red Bull and the role events play withintheir overall marketing strategy.......................................................................................................23.Explain the role of the marketing mix (4P’s/7P’s) and how Red Bull uses this to inform theirmarketing strategy...........................................................................................................................34.(a) Red Bull is planning an outdoor event to promote their brand. How and to whom shouldthey market this event, taking into account: segmentation and positioning....................................4(b) Discuss some risk management considerations they should take into account when planningthis event..........................................................................................................................................4Conclusion.......................................................................................................................................5References........................................................................................................................................6
Event Marketing 2Introduction Dietrich Mateschitz founded Red Bull in mid 1980s. He was inspired by the success offunctional drinks of Far East. He created formula for Red Bull along with the development ofunique marketing concept in order to promote the new product in the target market efficiently.Organization sold its first drink on 1st April 1987 in the home market and from there, successstory of Red Bull begins. Red Bull is available in more than 171 countries across the globe (RedBull, 2018). This report will include the classification and definition of special events, uniquemarketing activities executed by Red Bull along with the basic marketing activities in order togain better outcomes. Along with this, role of marketing mix techniques in the marketingstrategies of Red Bull and significance of outdoor events to promote the brand in internationalmarket will also be covered under this report. Segmentation and positioning techniques will alsobe executed while evaluating appropriate outdoor event for promoting Red Bull in internationalmarket. The last part of the report will include risk management techniques through whichorganization will be able to execute its plan in an effective and appropriate manner.
Event Marketing 3Findings and Analysis 1.Function, occasion or any event which is held for generating money for the community group ornot for profit is known as special event. There are various types of special events exists and eachevent has their own specifications, complexity, and suitability for sundry groups. As per casestudy, management of Red Bull has decided to implement special events in their marketingstrategies so as to promote their energy drink in the international markets (Alford, Cox &Wescott, 2001). In relation with Red Bull, special events are classified into various categories such as megaevents, Hallmark events, and major events and L&C events. Mega event is not a particular event;it is used to describe events such as Olympic Games, World Cup of Football, Cricket, etc. Inorder to promote the Red Bull with the motive of increasing its brand value, Red Bull couldsponsor such events by being energy partner. This will help the organization to promote theirdrinks in more effective manner (Sneath, Finney & Close, 2005). Apart from this, Hallmark event is another attractive option for Red Bull to fulfil their objectives.Cultural shows, fairs, expositions, etc. These types of events are majorly conducted for touristsand these are held on regular or on one-off basis. A primary objective of the hallmark event is toserve the host community with an opportunity to secure high importance in the tourism marketplace. With the help of hallmark events, Red Bull will be able to promote its energy drinks intourism industry which will lead to enhance their customer base (Close, et. al., 2006). Further,special events also consists a broad category i.e. major events and it include national and
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Role of Events in Marketing | Red Bull Case Studylg...
|9
|2112
|453
Red Bull Marketing Activities and Eventslg...
|11
|2450
|398
Report on Marketing Events : Red Bulllg...
|9
|2890
|49
Assignment on Event and Marketinglg...
|10
|2313
|22
Red Bull Marketing Strategylg...
|14
|2533
|45
Red Bull’s Case Studylg...
|6
|1096
|1