The Red Bull has turned out to be on the most popular brands in the drinks and beverage market owing to its production of energy drinks that has helped the concern in gaining a whole new market altogether…
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The categorisation of the drink as an energizer holds back in the Thailand culture where the same is known as “Red Water Buffalo”. Further the brand gains a larger market space owing to the use of strategic marketing activities incorporating the creation of “buzz words and also through the sponsorship activities for extreme sporting events. The target segments for the brand consist of groups like students and athletes and also bars focusing on energy drinks. The sponsorship activity carried out by Red Bull for extreme sporting events helps the company in building a separate image of itself in the global drinks and beverage market. An estimate made during 2004 reveals that around $600 million have been spent by the company on sponsorship events involving Formula One racing events, sponsoring athletes or other musical and cultural functions. A comparison made with Coca Cola shows that where Coca Cola expended around 9 percent of its marketing revenues on sponsorship events, Red Bull happened to expend around 30 percent. (Roll, 2006, p.199). Another estimate obtained during the 2001 period shows that this sponsorship activity of Red Bull in extreme sporting events helped the same to conduct a sale of around 1.6 billion cans worldwide. This figure when compared to the 2000 period reflects a rise in around 80 percent in the company’s sale paradigm (Gelder, 2005, p.248). ...
This figure when compared to the 2000 period reflects a rise in around 80 percent in the company’s sale paradigm (Gelder, 2005, p.248). The paper in this connection aims to conduct a research on whether Red Bull should continue investing in the Formula One events by reflecting on the probable advantages or opportunities that it can gain through such activities. Aims and Objectives Aims The main aim of the project is to evaluate the future of investing activities of Red Bull in the large scale sponsorship activities pertaining to extreme sporting events. In that it focuses to understand the potential of previous investment made by the company in this area and the advantages and opportunities gained on that behalf. The project also aims to compare the sponsorship activities of Red Bull to the activities of other companies also investing in sponsorship activities. Further the project also aims to understand the factors and situations evaluated by Red Bull before rendering potential investments in such directions. Objectives To understand the different marketing strategies of Red Bull To understand the reasons as to why Red Bull invests in Formula One championship events To evaluate the expenses or the cost the company incurs behind making such potential investments and the revenues that the firm tends to gain on that behalf To evaluate the future considerations as to whether Red Bull should continue investing in the sponsorship activities for Formula One championship for the 2011 period keeping in view the expenditure and the opportunity scenario for the 2010 period To compare the investment activities of the company in the extreme sporting events by drawing in examples
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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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