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Whether Red Bull Should Invest In The Formula 1 Racing Championship Next Year Or Not - Essay Example

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Red Bull was founded in 1984 by Dietrich Mateschitz. He fine-tuned the formula of a tonic drink and developed a unique marketing concept for the drink. In 1987 Red Bull energy drink hit the market for the first time and started selling on the Austrian market. …
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Whether Red Bull Should Invest In The Formula 1 Racing Championship Next Year Or Not
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Download file to see previous pages s a good decision on part of the company to start up with this heavy investment marketing activity……… 10 Finding 2 11 4.2 Objective 2: Analyze and compare the past results of the Formula 1 championship over the last six years and identify the success position of Red Bull Racing during this time span…………………………………………………………………………..11 Finding 3 18 4.3 Objective 3: Find out whether the Formula 1 championship has created an impact on the brand’s image and did it help increase the energy drink’s sale…………………………………………………………………………………………………………… 18 Finding 4…………………………………………………………………………………………………….19 4.4 Objective 4: Recommend whether the company should invest in the Formula 1 racing championship next year i.e. 2011……………………………………19 5. Conclusion and Recommendations …………………………………………………….20 5.1 Conclusion 20 5.2 Recommendations 22 References 24 Introduction Red Bull was founded in 1984 by Dietrich Mateschitz. He fine-tuned the formula of a tonic drink and developed a unique marketing concept for the drink. In 1987 Red Bull energy drink hit the market for the first time and started selling on the Austrian market. Red Bull entered its first foreign market Singapore in 1989 and then Hungary in 1992. United Kingdom followed in 1995 and in 1997 United States. Since then, over 30 billion cans of this popular energy drink have been consumed, highest consumption being in 2010. Red Bull is currently being served in more than 160 countries with annual sales of approximately 4 billion cans (Red Bull Company,...
Red Bull entered its first foreign market Singapore in 1989 and then Hungary in 1992. United Kingdom followed in 1995 and in 1997 United States. Since then, over 30 billion cans of this popular energy drink have been consumed, highest consumption being in 2010. Red Bull is currently being served in more than 160 countries with annual sales of approximately 4 billion cans (Red Bull Company, 2011)
Red Bull is not just an energy drink, it’s a brand. Red Bull has become a renown brand and has well-managed to create its strong brand image worldwide. Red Bull energy drink is associated with adventure and targets the consumers who have a taste and longing for thrill and extra-ordinary excitement levels. Its target market is basically the group of people with fun active lifestyle. Red Bull has a blend of certain high-quality ingredients that vitalizes body and mind. These ingredients together improve stamina, alertness, concentration, speed of reaction and also stimulates metabolism (Red Bull Company, 2011)
Red Bull has always believed in heavy brand investment. As its marketing strategy, Red Bull avoided usual methods of marketing and relied heavily on buzz marketing or word of mouth. Other than the buzz marketing Red Bull has developed an international campaign of sponsoring events. These events mainly comprise of sports events like mountain biking, surfing, snowboarding, rallies, Formula 1 racing, etc. ...Download file to see next pages Read More
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