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Red Bull Marketing Activities and Events

   

Added on  2021-04-17

11 Pages2450 Words398 Views
0Running head: UNDERSTANDING MARKETING AND EVENTSUnderstanding marketing and eventsName of the studentName of UniversityAuthors note

UNDERSTANDING MARKETING AND EVENTSTable of ContentsIntroduction:....................................................................................................................................2Findings and analysis:......................................................................................................................2Definition and classification of special events:...............................................................................2Marketing activities of Red Bull and role events in overall marketing strategy:............................3Role of marketing mix:....................................................................................................................4Brand promotion of Red Bull:.........................................................................................................5Risk management considerations:...................................................................................................6Conclusion:......................................................................................................................................7References list:.................................................................................................................................8

UNDERSTANDING MARKETING AND EVENTSIntroduction:The report is prepared to analyze the overall and key marketing activities undertaken byRed Bull. Red Bull is an Austrian company selling energy drink by Red bull GmbH that wasestablished in year 1987. Red Bull captures 70% of market share for functional beverages andenergy drinks. Role of marketing mix for informing their marketing strategy is also demonstratedin the report. The promotion of brand by this energy drink company is done using segmentation,positioning and targeting (Ducarroz et al. 2016). For planning the event of marketing promotionof company, considerations about risk management is taken into account. Report alsodemonstrate how the outdoor events should be organized for brand promotion of Red Bull. Riskmanagement considerations while planning outdoor events have also been demonstrated. Findings and analysis:Definition and classification of special events:The special events organized by Red Bull are in correspondence to theirprogressivemarketing strategy, distinctive approach to marketing and exciting communication channels.Moreover, Red Bull was sold in Austria that is the home market for drink. Various eventsorganized by company can be classified into pop culture events, sport events, youth cultureevents and dance events.All such marketing strategies are regarded as revolutionary approachthat helps organization in organization and creating extreme events around world. Red Bull isregarded to have authentic ownership because of creating, inventing and branding events. Eventsof company are all social that is a skill with increasing importance. Visibility of brand isenhanced and brand credibility is facilitated by having organic strengthening of social media(Adamopoulos and Todri 2015). Core elements of Red Bull campaigns are social and digital

UNDERSTANDING MARKETING AND EVENTSmedia that helps in providing relevant and direct communication platforms with target audiences.A pop culture event was also established by company that was help in different countries andthereby increasing the awareness of brand at global level. In addition this, some new events arealso organized that helps in reinforcing brand elements for show casing their brand. Sportsevents that are developed by company incorporate kite boarding, BMX biking, skydiving, freeand extreme snowboarding (Farris et al. 2017). Marketing activities of Red Bull and role events in overall marketing strategy:The marketing approach of Red Bull remains unsurpassed in their ability to innovate,grow and adapt in content world. Marketing strategy has not only focused on energy drinkpromotion but it has helped in creation of brand embodying a distinct audience and lifestyle.Some marketing strategies used by Red Bull are progressive and distinctive approach that isaimed at constantly developing the brand. Such approach helps company in getting engaged withtheir target customers through exciting and new channels of communication. Imagery in eventssuch as sports events helps company in satisfying psychological needs of customers for vitalizingtheir body and mind (Kotler 2015). Youth culture and sports events organized by company helpsin building a level of identification and build a strong relationship with customers. The corebrand elements or building brand equity are meaningfulness, memorability, adaptability,likeability, protectable and transferability. Factors that are integral to market strategy of Red Bullis social media and digital campaigns. Furthermore, the main focus of Red Bull is on developinginventive below the line promotions for reaching their targeted customer groups. Creatinggenuine relationship with athletes is the key aspect of promotion strategy of Red Bull (Galan etal. 2015). Several innovative ways are adopted by organization to reach their targeted customers.

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