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The Redbull Company in Sponsoring Formula One Racing Team: Marketing Strategies - Case Study Example

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The paper describes the profitability of a stable like Redbull to race in the F1 championship. In terms of the Redbull products, Dubrin (2008) emphasized Red Bull’s corporate strategy includes its marketing strategies; the strategies include product, price, place, and promotion factors…
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The Redbull Company in Sponsoring Formula One Racing Team: Marketing Strategies
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Download file to see previous pages In terms of consultancy, Helfert (2001) reiterated the aim of the Redbull company is sponsoring its own formula one racing team is translating the cost of sponsoring the Redbull races into increases is the profits of the Redbull beverage products. To achieve the aim, the company generates several objectives. First, the company uses the races to advertise Redbull products. To achieve the aim, Kotler (1994) opined the company generates objectives. The objectives geared toward achieving the Redbull team’s aim. One of the objectives is to initially sponsor a formula one racing team. Next, the company pursues a spectacular performance in the races. Specifically, one of the team’s objectives is to win the world constructor’s drivers’ championship. Second, the team wanted to win the world driver’s champion. Third, the company wants to retain its current position in the racing championships and current Red Bull market segment. The Formula One championship is characterized as auto racing. Maguire (2007) opined there is only one person inside the vehicle during each race. The Formula represents the rules or policies that each car racer must comply with without exception. The Formula one championships are included Grand Prix races set in different countries. The results of the Grand Prix race are used for ranking the top racers qualifying for the World Championships. From the name alone, the Formula one racing tournaments are characterized by cars with the highest possible speeds in the world. ...Download file to see next pagesRead More
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