Role of Events in Marketing | Red Bull Case Study

Running head: ROLE OF EVENTS IN MARKETING
Role of events in marketing
Name of the student
Name of the University
Author note

1Role of events in marketing
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Definition of events and special events..................................................................................2
Role of events in the marketing strategy of Red Bull............................................................3
Role of marketing mix in the marketing strategy of Red Bull...............................................3
Event planning of Red Bull....................................................................................................5
Segmentation......................................................................................................................5
Target.................................................................................................................................5
Positioning..........................................................................................................................6
Risk management...............................................................................................................6
Conclusion..................................................................................................................................7
References..................................................................................................................................8

2Role of events in marketing
Introduction
Events play a crucial role in marketing. Organizations conduct different types of
events in order to promote their products. These organizational events range from corporate
meeting, to product launch and other promotional events. Leading brands often sponsor mega
events in order to promote its branding. The assignment has chosen Red Bull as the brand to
discuss the role of special events in marketing. The report gives a general overview event and
special events and the role it play in the marketing strategy. It further elaborates the
marketing strategy adopted by Red Bull and additionally it discusses the four essential
components of marketing mix and how Red Bull used these four components. In addition to
that, marketing strategy of an outdoor event, which Red Bull is planning to be held, was
discussed along with the associated risk management measures of the event.
Discussion
Definition of events and special events
The term event refers to the action that is occurred during the course of business
operation (Bowdin et al. 2012). Special events allude to the public as well as private events
including sporting events (Preston 2012). As these events are different from normal business
operations or activities they are regarded as the special events. Generally entertainment-based
activities and hospitality programs come under special events. If done effectively, special
events can have long term positive impact on business. Generally an event is organized in a
way that remains in the memory of audience or customers. Special events have been
classified by different authors and scholars. According to intext, special events are
categorized into leisure events, cultural events, personal events and organizational events.
Leisure events include activities like sports, leisure and recreation, whereas ceremonial