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Whether Red Bull should invest in the Formula 1 Racing Championship next year or not? - Thesis Example

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Whether Red Bull should invest in the Formula 1 Racing Championship next year or not?

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). ...Show more

Summary

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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