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Understanding Marketing and Events

   

Added on  2020-06-06

8 Pages1662 Words64 Views
Understanding Marketingand Events

Table of ContentsMAIN BODY...................................................................................................................................31. Definition of special events and their classification..............................................................32. Key marketing activities and the role of events in the marketing strategy of Red Bull..........33. Role of marketing mix............................................................................................................44A. Outdoor event planning done by the Red Bull company.....................................................54B Risk management considerations while planning this event.................................................5REFERENCES................................................................................................................................7

MAIN BODY1. Definition of special events and their classificationSpecial events can be defined as a noteworthy moment of time which is celebrated as apublic occasion to attract more number of individuals. It is one of the marketing skill used by themanagers to globalize their business. It is organised infrequently out of the normal activities ofan organisation. It gives an opportunity to customers as well as to the mangers to have a socialand cultural experience to understand the likings of the people. This will help the organisation tomanufacture the products as per the need of the community. Also, they can interact with thepeople efficiently with the help of this. Significant amount of media presence is there to explorethe business schemes for the sake of the people.Depending upon the prevailing situations, the managers organise such events. They maybe classified in different ways. They are as follows:Conferences and meetings: Various video conferences, internet conferences, seminars,workshops are organised by the marketing managers to attract more customers.Trade show and expositions: Several industrial, scientific and consumer shows are heldfor this.Ceremony and spectacles: Number of public events (such as, sporting events, concerts,etc.) and private events (incentive events, product launching event, etc.) are conducted forthis.2. Key marketing activities and the role of events in the marketing strategy of Red BullRed bull is an energy drink sold by the Austrian company. Its market share among all theenergy drinks is highest in the world since it has sold 6.06 billions cans as estimated in year2016. In order to globalize the business, various marketing activities are accomplished by theorganisation. For example, cold calling method is adopted by the managers where they simplycall the current customers on phone to offer them services. Newsletters and articles are alsopublished by the company. Search engine optimization is done with the help of well-designedsites (Ryan, 2016).Events are also playing a vital role to market the product efficiently. For example, themanagers have organised various trade shows for business marketing by purchasing the spaceans sell some units to the retailers or general people. This helped the mangers to convinceretailers to stock the product in the future. Company has also invested in online services, where

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