Red Bull Marketing Strategy and Risk Management

The report is designed to identify and classify various events organized by Red Bull to attract its target market and make them familiar with their product lines. The analysis of the marketing mix as part of their marketing strategy shows that Red Bull employs a premium pricing strategy for selling their products. Moreover, promotion of the product is done using appropriate promotional techniques. The outdoor events created and organized by Red Bull should be intended to target customers who have not previously used the product line of the company. Segmentation should be done in such a way that it helps in capturing a major share of the market. However, organizing events is associated with several risks that should be mitigated by appropriate formulation of risk management strategies.