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Red Bull Marketing Strategy

   

Added on  2021-04-24

14 Pages2533 Words45 Views
Running head: UNDERSTANDING MARKETING AND EVENTS OF RED BULL UNDERSTANDING MARKETING AND EVENTS OF RED BULLName of the StudentName of the UniversityAuthor Note

1UNDERSTANDING MARKETING AND EVENTS OF RED BULLExecutive SummaryThe report has shed light on the Red Bull events management and their upgrading marketingprocedure. In case of abetter understanding of their marketing strategies, some of the grandevents have been discussed along with the marketing strategies of the company. The case ofproduct, price, promotion and place activities determine the place of the company. Strategicchanges are important to register for the better development of the company. Segmentation in allaspects along with the possible target market has been analyzed in this report and all the processis justifying the marketing understanding prospect and their impact on the situation.

2UNDERSTANDING MARKETING AND EVENTS OF RED BULLTable of ContentsIntroduction......................................................................................................................................3LO1: Special events of Red Bull.....................................................................................................3LO2: Marketing activities of Red Bull............................................................................................4LO3: Role of the marketing mix......................................................................................................5Product.........................................................................................................................................5Price.............................................................................................................................................5Place.............................................................................................................................................5Promotion....................................................................................................................................6LO4: Outdoor event promotion of brands.......................................................................................6(a) Segmentation and Target market positioning.........................................................................6(b) Risk management of an event................................................................................................7Conclusion.......................................................................................................................................8References........................................................................................................................................9Appendices....................................................................................................................................11

3UNDERSTANDING MARKETING AND EVENTS OF RED BULLIntroductionRed Bull is currently the leading energy drink company across the globe. The companyholds 70% of the market of health drinks worldwide. Within the soft drink market, the companyis leading the position as the highly successful health drink in the world and the quality deliverform Red Bull is really commendable. Red Bull entered Austria’s market in 1987 and thentargeted some of other nation where they can establish their market (Redbull.com 2018). RedBull has entered in Australia market and then moved in Germany, United Kingdom,andtheUSAin 1997. In modern times, the company has expanded their business in 171 countries. The drinkprovides high energy kick and available in two flavors. The company has taken progressivemarketing strategy to evolve their product and to develop their plan.LO1: Special events of Red BullEvents are the best way to judge the companies limitation and strength to enrich theposition of the company. People come and participated in those events and as the event isorganized by the company, a general message has been evolved through the company. Some ofthe big event organized by the company is defining their grandeur in themarket. Red BullNeptune Steps 2018, Crankworx FMBA Slopesstyle World Champs or the Red Bull MusicAcademy all these are important event those help in case of promoting their product atinternational level (Redbullstudios.com 2018). Thereare some special events also organized byRed Bull. Special events are aiming to generate more money for community groups and non-profit organization through the different complexity level. Red Bull initiates some of thecomplex and critical shows and events that need to have safety, security,and belief thatparticipants can trust on. Generally, there are four types of event like asports event, cultural

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