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Word Limit: 1,500 words (Plus or minus 10%) Learning outcomes assessed: • Explain how special events are defined and classified • Explain the scope and impact of marketing and events within an...

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Word Limit: 1,500 words (Plus or minus 10%)
Learning outcomes assessed: • Explain how special events are defined and classified • Explain the scope and impact of marketing and events within an organisation • Describe the marketing mix and explain its role in a marketing strategy • Apply basic event and marketing concepts (e.g., planning, coordinating, staffing, marketing, segmentation, targeting and position (STP), risk management, evaluation, etc.)
UMKT3012 UNDERSTANDING MARKETING AND EVENTS SPRING 2018 COURSEWORK BRIEF
GSM LONDON Page 2 of 11
This coursework is worth 100% of the total marks for this module.
Coursework Instructions Please read carefully
• Carefully read the module handbook, the marking criteria and the grade descriptors.
Academic Misconduct You are responsible for ensuring you understand the policy and regulations about academic misconduct. You must: • Complete this work alone except where required or allowed by this assignment briefing paper and ensure it has not been written or composed by or with the assistance of any other person. • Make sure all sentences or passages quoted from other people’s work in this assignment (with or without trivial changes) are in quotation marks, and are specifically acknowledged by reference to the author, work and page.
UMKT3012 UNDERSTANDING MARKETING AND EVENTS SPRING 2018 COURSEWORK BRIEF
GSM LONDON Page 3 of 11
Client Brief Inspired by functional drinks from the Far East, Dietrich Mateschitz founded Red Bull in the mid 1980's. He created the formula of Red Bull Energy Drink and developed the unique marketing concept of Red Bull. In 1987, on April 1, Red Bull Energy Drink was sold for the very first time in its home market Austria. This was not only the launch of a completely new product, in fact it was the birth of a totally new product category. Today Red Bull is available in 171 countries and over 62 billion cans of Red Bull have been consumed so far. Red Bull has a distinctive approach to marketing. It uses a progressive marketing strategy which aims to constantly evolve and develop the brand. This approach allows Red Bull to engage with consumers using new and exciting channels of communication. References 'Red Bull The Company - Who Makes Red Bull? Red Bull Origin :: Energy Drink :: Red Bull' (Energydrink.redbull.com, XXXXXXXXXXaccessed 9 January 2018
Using the above case study answer the following questions (your answers will form the main body of your report). 1. Explain how special events are defined and classified. Your definition should draw upon relevant core texts and examples. (LO1--200 words)
2. Explain the key marketing activities undertaken by Red Bull and the role events play within their overall marketing strategy. (LO2--200 words)
3. Explain the role of the marketing mix (4P’s/7P’s) and how Red Bull uses this to inform their marketing strategy. (LO3—300 words)
4. (a) Red Bull are planning an outdoor event to promote their brand. How and to whom should they market this event, taking into account:
• Segmentation
• Targeting and Positioning (LO4—250 words)
(b) Discuss some risk management considerations they should take into account when planning this event. (LO4—250 words)
Answered Same Day Mar 22, 2020 UMKT3012

Solution

Soumi answered on Mar 30 2020
145 Votes
UNDERSTANDING MARKETING AND EVENTS
Table of Contents
Introduction    3
1. Explanation of the way of defining and classifying Special Events    3
2. Marketing activities of Red Bull and the role of the events in overall marketing strategy    3
3. Marketing Mix’s Role and usage in marketing strategy of Red Bull    4
4) a) Red Bull’s Outdoor Event’s marketing based on:    5
4) b) Risk Management considerations while planning the outdoor events of Red Bull    5
Conclusion    6
References    7
Introduction
In this competitive world, advertising and promotion plays an integral role in success or failure of a
and. When it comes to launching a product that is unique then, the role of advertising and promotion becomes even more important. In case of special event, activities are performed that directly touch the sentiments of the target customers. A lot of expenditure is incu
ed in managing such an event but the outcomes of a successful special event is far more in comparison to the expense incu
ed for such. This assignment deals with managing special event of Red Bull, an energy drink
and that conduct special event mainly related to the field of music, adventure or sporting activities. It is a unique product at the time of its launch, as there existed no other energy drink
and in the market. It used special events as a promotion technique that has led to its success.
1. Explanation of the way of defining and classifying Special Events
A special event can be refe
ed to as a rare incident that happen beyond the regular acts of the organising committees and the sponsor. As per the views of Bowdin et al. (2011), there are two bases on which special events can be defined- one based on the perspective of the visitor and the other from the perspective of the organiser. However, from the viewpoint of visitor, special events can be refe
ed to as those activities that provide them with enjoyment that is far beyond than the daily experiences and daily activities.
As defined by Getz (2008), special events are those, which attract tourism activities to the event destination and are profitable for the venue. Hence, according to this definition events can also serve the purpose of organising tourism as well as the events independently. For example, Olympics, Premiere League Football and F1 car racing are not only special events, but also aim to
ing tourism to the countries, where they are held every time.
According to the opinion of According to Huang and Sarigollu (2014), special events can be classified on two grounds that can be on the format or on the grounds of the reason of occu
ence. Because of the purpose of occu
ence, special event can be categorised into classifications such as cultural programmes that consists of food, music festivals and other such festivals. On the other hand, based on the MICE classification criteria, specials events has four prime elements that include meetings, conferences, incentives and exhibitions. The classification is generally done for corporate and tourism events that encompasses complete set up of the event to meet a purpose of business.
2. Marketing activities of Red Bull and the role of the events in overall marketing strategy
The primary principle in the marketing activities of Red Bull is the customer centric approach. The marketing activities of the organisation is always focused on customers (Red Bull Studios, 2018). This indicates that the targeted customers are placed at the middle of the marketing approach that causes the generation of the customers in the Red Bull’s Products, i
espective of the fact that they buy it or not. It can also be stated that the activities of marketing mainly aim to gain the attention of the customers who are mostly content driven and sensitive (Red Bull, 2018).
Giving due importance to the above said approach, Red Bull has intrinsically made use of the events that have helped them in becoming famous at...
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