The research includes a literature review to make the topic understandable. Red Bull should keep on investing in the formula one Championship for next year. Currently, Red Bull is one of the top Formula One racing tracks around the world…
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The research includes a literature review to make the topic understandable. Red Bull should keep on investing in the formula one Championship for next year. Currently, Red Bull is one of the top Formula One racing tracks around the world. The Formula One circuit sports reporters regularly announce the standings and winning cars of each Formula One racing event. The sports writers’ informed the general public about the painstaking and scrutinizing victory of the Red Bull Formula One racing team to all racing and other sports fans in Sweden, in all Formula One race track, television, radio, and newspaper sports news. Red Bull is a beverage company that is strategically located in Sweden. As of 2007 alone, Red Bull sells 3.5 billion cans and bottles of its Red Bull products because the average Red Bull customer is not price conscious (Grisen, 2010). The Red Bull beverage company’s continued investment of next year’s Formula One events is part of the necessary promotional aspect of the company’s overall marketing strategy. Simon Vigar reiterated (2008) just like in the prior years, the red bull name on one of the formula one race cars speeding past other competing cars often brings cheers, sadness, fear, and awe to the audiences watching the games. The Red Bull Formula One car is seen by thousands of fans visiting many Formula One grand prix circuits located around the world. During the live telecast and the news reports of the Formula One races, the Red bull name is seen by thousands of race track fans. Because of the sport news reports, the Red bull name will have free advertising in all the televisions, radio stations, and newspapers around the world. Thus, the cost of investing in the formula one circuit can be easily recuperated through the free news items found in the sports sections of the news papers, radio and television media around the world (Abele 2008). Business Question What strategies for developing a fast food chain? Aim – to identify the perception of product brand among the current and prospective clients Objectives: – to pinpoint the product brand store image held by this consumer group 1.To examine if there are different perceptions of product brand among the diverse age groups among the customers. 2. To determine which type of store brand is popular among the consumers. 3. To determine the competitors’ products and services with the aim of increase client base. Literature Review The marketing environment focuses on several theories. According to Hilton (2007), the SWOT analysis theory states that the company uses both internal and external resources in its decision making tools. According to the Managerial Accounting Studies, the theory states that the company must gather enough of its strengths to outsmart the competitors in terms of client generation and revenue increase. The theory states that the company should resolve all its weaknesses in order to have a successful business or person endeavor. The company exerts all efforts to profit from its opportunities (Kumar, 2003). In addition, the company musters all its resources to hurdle all threats that come in the way of the way of the company’s achieving its aims and objectives. The marketing theory focuses on the four strategies. The company should focus on selling quality products and services (Czinkota, 2007). Product. Bucholz (2006) theorized that the company must implement some marketing changes to increase the clients’ demand for its products. The company must add additional shoe styles. The new shoe styles are based on the latest market segment trends. The company must increase the production of its ladies’
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