UMKT3012 Understanding Marketing: Red Bull's Event Strategy

This report examines the role of events in marketing, using Red Bull as a case study. It defines events and special events, explores Red Bull's marketing strategy, and analyzes the marketing mix (product, price, place, promotion) and its application by Red Bull. The report details the planning of a hypothetical Windsurfing event by Red Bull, including segmentation, targeting, positioning, and risk management. It concludes with an overview of key findings and recommendations for effective event marketing, emphasizing the importance of safety measures and strategic planning for successful event execution. Desklib provides access to this and other solved assignments for students.

Running head: ROLE OF EVENTS IN MARKETING
Role of events in marketing
Name of the student
Name of the University
Author note

1Role of events in marketing
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Definition of events and special events..................................................................................2
Role of events in the marketing strategy of Red Bull............................................................3
Role of marketing mix in the marketing strategy of Red Bull...............................................3
Event planning of Red Bull....................................................................................................5
Segmentation......................................................................................................................5
Target.................................................................................................................................5
Positioning..........................................................................................................................6
Risk management...............................................................................................................6
Conclusion..................................................................................................................................7
References..................................................................................................................................8

2Role of events in marketing
Introduction
Events play a crucial role in marketing. Organizations conduct different types of
events in order to promote their products. These organizational events range from corporate
meeting, to product launch and other promotional events. Leading brands often sponsor mega
events in order to promote its branding. The assignment has chosen Red Bull as the brand to
discuss the role of special events in marketing. The report gives a general overview event and
special events and the role it play in the marketing strategy. It further elaborates the
marketing strategy adopted by Red Bull and additionally it discusses the four essential
components of marketing mix and how Red Bull used these four components. In addition to
that, marketing strategy of an outdoor event, which Red Bull is planning to be held, was
discussed along with the associated risk management measures of the event.
Discussion
Definition of events and special events
The term event refers to the action that is occurred during the course of business
operation (Bowdin et al. 2012). Special events allude to the public as well as private events
including sporting events (Preston 2012). As these events are different from normal business
operations or activities they are regarded as the special events. Generally entertainment-based
activities and hospitality programs come under special events. If done effectively, special
events can have long term positive impact on business. Generally an event is organized in a
way that remains in the memory of audience or customers. Special events have been
classified by different authors and scholars. According to intext, special events are
categorized into leisure events, cultural events, personal events and organizational events.
Leisure events include activities like sports, leisure and recreation, whereas ceremonial

3Role of events in marketing
activities fall under cultural events. All kind of commercial events and political as well as
charitable activities can be termed as the organizational events. Events like marriage
ceremonies, birthday anniversaries are regarded as personal events. The focus of the study is
at organizational events. One of the major organizational events is the event of product
launch. Product launch events are held in order inform the customers as well as existing
employees about an upcoming product.
Role of events in the marketing strategy of Red Bull
The energy drink Red Bull was introduced in market with full grandeur in the year of
1987 ("Red Bull Studios London" 2018). Red Bull has been able to hold highest share in the
beverage industry. The energy drink is made of four components, that is, Caffeine, Taurine,
B-group vitamins and sugar. The founder of Red Bull, Dietrich Mateschitz had adopted a
completely new marketing strategy when Red Bull launched in Austria, its home market. Red
bull was not only a new product in the beverage industry but a completely different as well as
new category was introduced in the industry (“Red Bull Gives You Wings - RedBull.com",
2018). Productive marketing strategy was adopted when Red Bull. The main characteristic of
this approach of marketing strategy is its dynamic (Baker 2014). It always looks forward and
inclined to innovate, experiment, and change so that it can offer variation to its customers.
The main purpose of this strategy is to hold the market position and further growth (Kotler
2015). With the help of progressive marketing strategy, Red Bull keeps on evolving towards
developing its brand. Another major characteristic of this strategy is it allows new ways of
communications in order to remain engaged with its consumer. Therefore, events played a
significant role in the marketing of Red Bull.

4Role of events in marketing
Role of marketing mix in the marketing strategy of Red Bull
Marketing mix plays an important role in marketing as it has an influence on the
decision of the customer of buying any product (Tanner and Raymond 2015). 4ps are there
that are considered as the fundamental components of marketing mix. The 4ps are price,
product, place and promotion.
Product
The energy drink Red bull contains Caffeine, Taurine, B – vitamins and sugar, which
stimulates metabolism. Sportspersons, business individuals and especially the young
generation consume it and keep themselves energetic. Sugar free version of the drink has
been introduced in market keeping the health trend in mind. The latest editions of Red Bull
also largely attract the young generation. Inspired by the non-carbonated energy drink,
Krating Daeng, Red Bull was introduced in the market but it was added with little more
things. The western taste of the drink made it more desired.
Price
There are a large number of competitors in the beverage industry with which Red Bull
competes. Red Bull is the leading brand as well in the market. The brand has set its pricing
strategy higher than other brands for offering premium quality. According to the market
report, despite of their high price Red Bull was able to hold its customer.
Place
Red Bull sells over 6 billion cans across the world. Its distribution network is spread
across the world and therefore, it supplies it products to every convenient place including,
departmental stores, retail stores, supermarkets and night clubs. Their product distribution
strategy made it easy to buy.

5Role of events in marketing
Promotion
The unique tagline of the product enabled it hold customer base as most people
intrigued to buy it seeing the product. As part of their marketing strategy, Red Bull arranges a
number of sports events. It also sponsors major sports events like Formula 1, skating, surfing,
mountain biking and so on.
Event planning of Red Bull
Red Bull is presently planning an outdoor event, Windsurfing in different countries.
In order to promote their brand the company must plan their marketing strategy to make the
event successful.
Segmentation
People of 16 to 30 years old should be the target for the event Red Bull is planning.
As the sports demand physical fitness the brand should select this age group in order to
promote its brand (Kotabe and Helsen 2014). Males are should be targeted mainly for the
event. However, the brand can encourage females also to participate in the event, but then
they must ensure the physical fitness of them.
Target
According to the Geographic positioning, the main target for the event should
teenagers as well as college students between the ages of 16 to 21 years. Another group will
be of 21 to 30 years including sportspersons, young adults and others (Shakhshir 2014).
Working professionals of selective socio-economic class can also be targeted. Along with the
male candidates, the female candidates of 16 to 30 years might be the target area for the
company. As the sports Windsurfing demands certain skills like sailing, it needs to ensure
that the participants are mainly sports enthusiasts and possess physical fitness.

6Role of events in marketing
Positioning
In order to promote the event so that it becomes a successful promotional event for
the brand certain promotional measures can be taken. For instance, social media campaigns
through Facebook, Twitter and Instrgram can be effective to reach out to most people in a
short time span (Tuten and Solomon 2017). In addition to that, event management agencies
can be hired to promote the event.
Risk management
Windsurfing is one those sports that need to be well arranged as risk of injury is high in
this sports. The sport Windsurfing requires physical skills like balancing and other training. A
well-trained person therefore can survive when any injuries or disaster happen. Generally
Windsurfing injuries include fractures, cuts and sprains. While conducting Windsurfing, the
brand must take risk management measures in order to avoid any disaster. There are a large
number of risk factors related to Windsurfing. Lack of fitness is one of the major factors that
increase the risk of getting injured. Inexperience of the participants and poor techniques of
surfing are the other major factors for which risk of injuries can be at a higher rate (McNeil,
Frey and Embrechts 2015). It has been observed that disaster happens in during Windsurfing
when participants do not wear proper safety garments. Therefore, in order to avoid any
disaster, the following measures can be taken during the event:
 Some expert Windsurfer should be hired to conduct the event so that they can guide
the participants in the right way.
 The participants should be familiarized with the sports and related injuries.
 Immediate medical assistance must be arranged in the venue so that participants
receive medical treatment as soon as any injuries occur (Hopkin, 2017).
 The participants aged between 16 to 21 years must be assisted by the experts in order
to avoid any disasters.

7Role of events in marketing
 All participants should be provided with proper safety equipment like helmet, safety
jackets, safety glasses, safety shoes and other essential things.
Conclusion
It can be concluded by saying that the report has tried to cover all the aspects while
discussing events and special events and it importance in marketing strategy. The energy
drink maker Red Bull and its marketing strategy of event organization were given in order to
make the report more detailed. The study has discussed the marketing plan of the event
Windsurfing that the energy drink maker is currently planning. In order to make the event
successful few aspects like segmentation and target positioning were mentioned as the
suggestive measures. Finally, the report elaborates the essential risk management measures
for the event that includes medical assistance and proving safety equipments and so o. in
order to maintain the credibility of the paper, it has added all the essential references.

8Role of events in marketing
References
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Bowdin, G., Allen, J., Harris, R., McDonnell, I. and O'Toole, W., 2012. Events management.
Routledge.
Hopkin, P., 2017. Fundamentals of risk management: understanding, evaluating and
implementing effective risk management. Kogan Page Publishers.
Kotabe, M. and Helsen, K., 2014. Global marketing management.
Kotler, P., 2015. Framework for marketing management. Pearson Education India.
McNeil, A.J., Frey, R. and Embrechts, P., 2015. Quantitative risk management: Concepts,
techniques and tools. Princeton university press.
Preston, C.A., 2012. Event Marketing. 2nd Edn. New Jersey, Wiley.
Red Bull Gives You Wings - RedBull.com. 2018. Red Bull. Retrieved 6 April 2018, from
https://www.redbull.com/gb-en/
Red Bull Studios London. 2018. Redbullstudios.com. Retrieved 6 April 2018, from
http://www.redbullstudios.com/london/studio
Shakhshir, G., 2014. Positioning strategies development. The Annals Of The University Of
Oradea, 977, pp.416-437.
Tanner, J. and Raymond, M., 2015. Principles of marketing. University of Minnesota
Libraries Publishing.
Tuten, T.L. and Solomon, M.R., 2017. Social media marketing. Sage.