Nobody downloaded yet

Should Red Bull keep on investing in the Formula 1 Championship for next year - Essay Example

Comments (1) Cite this document
Summary
When televisions became popular in households and events were aired live on televisions, organizations found it useful to associate their brands with these events through sponsoring them…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.4% of users find it useful
Should Red Bull keep on investing in the Formula 1 Championship for next year
Read TextPreview

Extract of sample
"Should Red Bull keep on investing in the Formula 1 Championship for next year"

Download file to see previous pages The increasing trend of marketing through sponsorships of events is visible to everyone. Around 15 years ago less than 25 percent of events had some sort of corporate support and involvement but today this percentage has increased to 80 percent (McDowell, 1999). These events are an easy way through which an organization can communicate their messages to the customers. Red Bull is a soft drink company that is using sponsorships as a way to market its soft drink. Red Bull sponsors Formula 1 racing events all over the world. They also have many sports teams that take part in sporting events. Red Bull Racing is a Formula 1 racing team that is owned by Red Bull. The company also owns another racing team in Formula 1 known as Scuderia Toro Rosso (Formula 1.com, 2008). The company also sponsors other extreme sport like snowboarding and wakeboarding. The marketing technique of Red Bull is well known and it is known to work for the company. Associating the brand with extreme sports also communicates a brand image of the product to the consumers. This is one great advantage of sponsorships of events. Sponsorships of events actually communicate with consumers in a better way than conventional marketing (Meenaghan, 1991). Therefore the efficacy of marketing through sponsorships of events is well established....
It is vital to find the efficacy of this marketing technique in times of financial crisis. This is the main problem that we will attempt to solve. The topic of this research proposal is that whether Red Bull should continue to invest in Formula 1 championships or not in the next year that is 2012. This investment includes the sponsorships of the event and the racing teams of the company. This research proposal will identify the process in which the answer to the above question will be obtained. Aims and objective of the research alongside with a comprehensive literature review on the subject of marketing through sponsorship will be presented. Research methodology will also be discussed in the proposal. Aims and Objective Research Topic The Marketing of Red Bull through sponsorships of sports events like Formula 1 Business Question Should Red Bull continue to invest in Formula 1 championship in the next year? Aim The aim is to help Red Bull make a decision about its marketing techniques in the wake of the financial crisis the world is facing today. Objectives 1) To understand what marketing through sponsorships of event it and its importance 2) To seek the economic worth of sponsorship marketing 3) To evaluate the benefit of sponsorships for Red Bull 4) To gain insight on the effect of Formula 1 Championship on brand awareness of Red Bull by collecting responses from customers Literature Review Marketing through Sponsorships Different marketing techniques have been developed over the years and all of them aim at better communication with the target audience. Sponsorship is a way through which a product can be marketed to the customers. Research has suggested that sponsorships do help a product achieve competitive advantage over ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Should Red Bull keep on investing in the Formula 1 Championship for Essay”, n.d.)
Retrieved de https://studentshare.org/marketing/1390415-should-red-bull-keep-on-investing-in-the-formula
(Should Red Bull Keep on Investing in the Formula 1 Championship for Essay)
https://studentshare.org/marketing/1390415-should-red-bull-keep-on-investing-in-the-formula.
“Should Red Bull Keep on Investing in the Formula 1 Championship for Essay”, n.d. https://studentshare.org/marketing/1390415-should-red-bull-keep-on-investing-in-the-formula.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
ma
malinda49 added comment 8 months ago
Student rated this paper as
At first, I thought 12 of pages is too much for such a subject. But now I see it could not be done smarter. As the author starts you see the difficulty of the topic. I’ve read all at once. Great essay
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Whether Red Bull Should Invest In The Formula 1 Racing Championship Next Year Or Not
...? Whether Red Bull should invest in the Formula Racing Championship next year or not? Table of Contents Data Presentation & Data Analysis 9 Finding1 9 Objective 1 9 Finding 2 11 Finding 4 15 The reason for such a huge investment was that Red Bull wanted to expand its brand on a global scale and the only way to do this was by investing in global activities. The company chose sports events because these events matched with the brand image of Red Bull energy drink. The marketing strategy went hand in...
15 Pages(3750 words)Essay
Energizing Red Bull
...coupons, Social Media) and Video games. Promotions & campaigns Sponsorship of Extreme Sports & Youth Culture Events Red Bull sponsored a number of extreme sports events such as BMX biking, kite boarding, extreme snowboarding, freeskiing, paragliding and skydiving. In 27 years since its establishment, Red Bull has been able to have brand goodwill with adrenaline-filled sports. Sports – Red Bull association has become so strong that the term Red Bull is ambigiously used for the drink, world championship winning F1 team, the company’s spectacularly dangerous-looking air-racing...
11 Pages(2750 words)Essay
Case study on Red Bull
...and content which keeps it embedded in the mind of consumers. In spite of the universal nature of Red Bull's brand, there was the need for some variation in the brand offering in markets around the world. Dunn (2004) points out that there are six main processes that a business needs to go through before they can create brand equity and they are: 1. Market Analysis 2. Brand Architecture 3. Creation of a Strategic Branding Idea 4. Marketing Communication 5. Employee Involvement and 6. Measurement Market analysis involves scanning the dominant environmental factors in a country before offering your products in a country. For the case of Red Bull, the...
8 Pages(2000 words)Essay
Red Bull: Market Analysis
...). Hence, objectives are pivotal part of a business as it also allows them to explore the opportunities of the market and also assess their capabilities (Shils and Shike, 2006; Shachman, 2004; Starbard, 2009). As a result of that, Red Bull is also recommended to undertake objectives that are SMART as it will help in assessing the viability of the objectives and test the ways by which it can be achieved. One of the objectives of Red Bull is to increase the market share in the health drink energy sector by 5 % by the end of 3 years. The company should aim to increase the number of product variants to 10. This will allow the company to offer wide...
7 Pages(1750 words)Essay
Advertising Red Bull
... on the Facebook page for a period of 15 consecutive minutes and rotated after every 15 seconds. This will ensure that everyone who visits the Facebook page will have to see the advert even if they take the shortest period of 15 seconds on the page. Below is the sample of the advert. References Ali, S. (2012). Case Study Red Bull. slideshare , 1-3. Anne-Marrie, S. (2012). Red Bull Advert: How the Bible Says We Should be Responding. Off The Deep End Agaun , 1. Kieran, C. (2013). Red Bull causes outrge After Running TV Advert that Suggests Titanic Could have Avoided Disaster if its Passangers had Wings. Mail Online , 1-2.... ?Advertising Red Bull Background Information There has been intense criticism in the socialmedia,...
4 Pages(1000 words)Essay
Red Bull
...the world, the type who will surf in Nova Scotia in January or jump out of a plane to "fly" across the English Channel. Every year the company stages dozens of extreme sporting events, like the climbing of iced-down silos in Iowa or kite sailing in Hawaii, as well as cultural events like break-dancing contests and rock music jam sessions. Then there is Hangar-7, an eye-popping structure of glass and steel that the company Red Bull erected next to the airport in Salzburg, Austria. The building serves as a chic eatery for club crawlers and provides shelter for the Flying Bulls, a fleet of 15 show planes that appear at air shows around the world. Red...
4 Pages(1000 words)Essay
RED BULL COLA CASE STUDY
...which had become an instant success. In the next ten years, it had become a major international player in the non alcoholic drinks segment. ‘By 2004, the worldwide energy drinks market was worth an estimated £1.6 billion; Red Bull had achieved a clear market leading position, with a 70% market share’ (bized.co.uk). In the year 2006, according to an article, it had presence in more than 130 countries, sold over three billion cans and generating revenue of more than 2.6 million Euros! The success story of Red Bull energy drink could be contributed to the ambitious vision of its owners and promoters who had pursued their goals with...
8 Pages(2000 words)Essay
Red Bull
...in Thailand for years” (Red, 2009). This was one, rather than a group, of tasty Thai tonic syrups; as a result, Red Bull has one beverage which has been strikingly successful; the company does not presently even need a more diverse product base, although it certainly will in the future. #3 In terms of the reasons for a high degree of customer loyalty at Red Bull, one can go through the Marketing Mix of price, product, promotion, and placement. Internally, some companies have strict and transparent controls, while others may not. While the focus in general is on the effectiveness of internal controls, the specific components of internal...
5 Pages(1250 words)Essay
Red Bull Marketing Questions
...revenue and weakening prospect and customer relationship. Arguably, none of the consumers want a gyrating door of new sales representatives. This may create an environment of volatility that drags sales which competitors may exploit. When launching a new product or bringing a product to the market, managers frequently commences with an inkling of the profits they desire and enquire the sales levels required to attain it. While setting the sales target, Red Bull Company will also set its target output volume and target revenue. Red Bull sales team targets a total revenue growth of 4 percent for this year. Last year the company achieved total...
4 Pages(1000 words)Essay
Whether Red Bull should invest in the Formula 1 Racing Championship next year or not
12 Pages(3000 words)Thesis
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Should Red Bull keep on investing in the Formula 1 Championship for next year for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us