Red Bull's Marketing and Events: Strategy, Mix, Segmentation, Risks

This report examines Red Bull's marketing and event strategies, focusing on how the company utilizes events to promote its brand. It discusses the definition and classification of special events, key marketing activities undertaken by Red Bull, and the role of events within their overall marketing strategy. The analysis includes an explanation of the marketing mix (7Ps) and how Red Bull uses it to inform their strategy, along with considerations for segmentation, targeting, and positioning for an outdoor event. Finally, the report addresses risk management considerations Red Bull should take into account when planning such an event, including health insurance, property insurance, and ethical considerations. This assignment provides a detailed overview of Red Bull's marketing approach and its application in event management.

Marketing and events

Table of Contents
Introduction......................................................................................................................................3
1. Explain how special events are defined and classified. Your definition should draw upon
relevant core texts and examples. (LO1).........................................................................................3
2. Explain the key marketing activities undertaken by Red Bull and the role events play within
their overall marketing strategy. (LO2)...........................................................................................4
3. Explain the role of the marketing mix (4P’s/7P’s) and how Red Bull uses this to inform their
marketing strategy. (LO3)...............................................................................................................5
4. (a) Red Bull are planning an outdoor event to promote their brand. How and to whom should
they market this event, taking into account:....................................................................................6
(b) Discuss some risk management considerations they should take into account when planning
this event. (LO4)..............................................................................................................................7
Conclusion.......................................................................................................................................7
Reference List..................................................................................................................................9
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Introduction
This assignment is based on the discussion of marketing and events (Getz and Page, 2016).
Marketing event is a promotional strategy of a business organization through which a company
can contact face-to-face with its customers for promotion of business. Some examples of
marketing events are fairs, gathering in a place etc. Various types of tools like, verbal discussion,
presentation through digital pictures, presentation through leaflets, brochures etc. are used to
display the customers and people in the event. In this assignment, the example of Red Bull is
given here to discuss the subject. It is an energy drink company headquartered in Austria. The
company was founded in the year 1976 (Red Bull, 2018). The company mainly has spread its
business in France, Denmark and in Norway. It sells its products in 28 EU member countries
across the world. In the year 2017 the number of employees in the company was about 12,000
(Red Bull, 2018) In this assignment it has been shown how the company has used its various
marketing strategies its marketing event. It has also been shown that how the company has
applied its marketing mix 7Ps strategy in the event to promote its products. The company for
enhancing its brand has segmented its customers, made a target and positioning of the market.
Some risks management considerations have been discussed from the marketing event for the
understanding of the reader. In this assignment the learner will have a broad idea of the
marketing event and the utilities of marketing event for promoting brand image of an
organization.
1. Explain how special events are defined and classified. Your definition should draw
upon relevant core texts and examples. (LO1)
A special type of event is undertaken for the purpose of promoting the market of an organization
for a particular product. The following are the classification of marketing events;
 Events that are web-based: This type of event is undergone online through webcasts,
hangouts and others. Sometimes some big organizers sponsor through this type of online
events. This is a cost effective marketing event type.
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 Trade show: Trade shows are arranged by the organizers to exhibit their business
product for the attention of the participants (Wong et al., 2014). In this type of trade show
potential buyers are attracted in the trade show and efforts are optimized to enhance the
ability of the seller.
 Live events: Live events are undergone for both the pre-sale or post-sale activities of a
business unit. Creation of initial demand, addition of value to the existing products etc.
are the contents of live events.
 Customer conference: It is normally a one day event. Customer conference enhances
loyalty of customers by educations them regarding the new offering or promotion of an
existing product (Weinstein and Pohlman, 2015).
 Channel events: Channel events are organized for the support of channel business. Both
a supplier and a channel partner can support each other through this type of event
(Thirugnanasundaram et al., 2016).
In this context, the company ‘Red Bull’ wants to promote its market of energy drink and for this
it has organized a marketing event. The company has selected the three types of classifications
and they are the web page event, trade show event, live events and customer conference
respectively. The company, for the last three types of events has selected the city “London”.
2. Explain the key marketing activities undertaken by Red Bull and the role events
play within their overall marketing strategy. (LO2)
Red Bull has carried out the following marketing activities for its upcoming marketing
event:
 Creating event: The event manager of Red Bull will at first create an event considering
the product, the type of customers, who will be the target customers, the location of event and
the theme of the event.
 Event tracking: The actual place of event, the space capacity of the event will be
mainly considered in this step. The location here has been selected the Cambridge
city of London.
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 Hiring of other experts: Red Bull, for product promotion in the conference, has
hired some lecturers from outside. They will represent some presentation
regarding the product before audience also.
 Social media and company website: The Company has designed its pages in the
Face book and it has also developed the company webpage for the use of followers.
The managers of Red Bull have some key roles to perform for the events and they are the
following:
 The event managers will co-ordinate the logistics and operations departments of the
company for arranging such event.
 Secondly the event managers will monitor the web designing of pages in social media
platform, in company’s web sites and will design the content for the event.
 Thirdly, media play a vital role in such marketing event. The success of the event
depends mostly on the relation with such media. Hence such media will be managed well.
 Finally, meeting will be scheduled for supporting the marketing and sales efforts in the
event.
3. Explain the role of the marketing mix (4P’s/7P’s) and how Red Bull uses this to
inform their marketing strategy. (LO3)
 Marketing Mix: Marketing mix is a set of practices that is used by a business
organization to promote its brand and develop its market. There are 7 elements in the
marketing mix strategy (Huang and Sarigöllü, 2014). Red Bull will apply the 7 Ps of
marketing under the following ways:
 Products: The company has designed its energy drinks with excellent food and energy
components like vitamins, amino acids, caffeine etc (Babin and Zikmund, 2015). All this
ingredients have made the energy drink an excellent product before the customers. The
energy, being a healthy drink will attract all segment customers.
 Price: Price mix is the second element of marketing mix. Red Bull follows the premium
pricing strategy by which it has made its products affordable in international market.
Thus, the targeted customers have been provided the product on premium price and the
company has created a competitive position in the global market.
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 Place: It is the third element in the marketing mix. Red Bull has created an excellent
network in the international level and also in the regional level to distribute its product
through a proper distribution system (Huang and Sarigöllü , 2014).
 Promotion: Through promotion, the entire product and service are developed. Red Bull,
for the promotion of its products organizes various types of marketing campaign (Kraak,
2018). Event marketing and sports events are such examples. Now the company is
promoting its products and services through social media. Apart from these, the company
is introducing some other products in the market.
 People: Red Bull considers its employees the core elements of the company and hence, it
provides all types of benefits to its employees.
 Process: Red Bull, through a good supply-chain policy supplies its products to the
customers. Online delivery is also available now.
 Physical evidence: The Company has represented in 171 countries all over the world
with its energy drinks.
4. (a) Red Bull are planning an outdoor event to promote their brand. How and to whom
should they market this event, taking into account:
• Segmentation
Segmentation is business policy through which the potential customers are sub-divided into
various segmentations. Here, Red Bull has segmented its customers dividing demographical,
geographical.
Geographical segmentation: Red Bull will represent its products in the UK and USA market
this energy drink initially.
Demographical segmentation: The customers have been divided according to their income and
age group. By this segmentation, the market will be developed strategically.
• Targeting
High and medium income: Red Bull has targeted mainly the high income group and the
medium income group of the society in the marketing event and to sell the energy drink.
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Age group between 18-40 years: Men and women of the age group of 18 t- 40 have been
targeted in the marketing event for the products. The energy drink will be developed according to
the needs of the customers.
Positioning
It has been decided by the company that for promoting the product, the company will focus on
both the quality and price of the energy drink. The company will initially provide high quality of
energy drink at a moderate price to gain competitive advantage in the market.
(b) Discuss some risk management considerations they should take into account when
planning this event. (LO4)
Red Bull, before starting the marketing event in London, has to consider some risk management
considerations for the safety and reputation of the company. They are the following:
Health Insurance coverage: Insurance coverage for all the participants, employees and the
outside customers has to be taken for the safety of them. The accidental coverage for all the
employees or outside visitors is to be taken to avoid any accidental death or injury of them.
Property insurance: The properties in the event should be insured with an insurance company
so that the company can be compensated in case of any type of natural calamities. Fire is such a
natural calamity that can destroy the properties of the event in no time. Hence, this type of
insurance coverage is necessary.
Other facilities of the participants and customers: An event place is the place of visitors and
customers. Hence, the company has to look after the normal facilities like availability of drinking
water, washing facility, food etc. so that the customers and visitors face any problem in the event
place.
Ethics of business and event: Red Bull has to look after that all the event related ethics and
rules and regulations are maintained in the event place.
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Conclusion
A business organization communicates a large number of customers in marketing event. The
customers and visitors are convinced the products and services of the company through various
types of tools in the event. The examples of such tools are the online media, meeting,
conference, company webpage, digital presentation and others. Red Bull is an Austrian company
dealing in energy drink. This is an international company. The company is undergoing its
marketing event in the city of Cambridge of London. The company has applied many tools in the
marketing event for promoting its market. It has applied the marketing mix strategy for the
promotion of products and service of the company. Then the company has segmented the market,
, targeted its market and then positioned the product in the market. Finally, the company has
considered some risk factors in the event management for the safety of the customers and visitors
in the event. The learner in this assignment will have a detailed idea about the marketing event.
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Reference List
Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
Getz, D. and Page, S.J., 2016. Event studies: Theory, research and policy for planned events.
Routledge.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132).
Springer, New York, NY.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132).
Springer, New York, NY.
Kraak, V.I., 2018. US restaurant sector can promote healthy food environments to reduce obesity
risk. The American Journal of Clinical Nutrition, 107(2), pp.288-290.
Red Bull. (2018). Red Bull Gives You Wings - RedBull.com. [online] Available at:
https://www.redbull.com/in-en/ [Accessed 19 Mar. 2018].
Thirugnanasundaram, V., Krishnan, S., Sun, T. and Bakthavachalu, A., Xerox Corp,
2016. Methods and systems for creating event-triggered marketing campaigns. U.S. Patent
Application 14/538,214.
Weinstein, A. and Pohlman, R.A., 2015. Customer value: a new paradigm for marketing
management. In Proceedings of the 1997 Academy of Marketing Science (AMS) Annual
Conference (pp. 132-133). Springer, Cham.
Wong, J.Y., Li, T.H., Peng, N. and Chen, A.H., 2014. Conceptualizing trade show visitors'
consumption behavior. International Journal of Tourism Research, 16(4), pp.325-328.
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