Description
Case studies are an important learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides with an end goal of formulating a recommendation for the challenges faced by the company.
Evaluate the case of your choice (Red Bull) which is attached, and respond to each of the questions below using both theory and practical managerial thinking as well as supporting research.
Option 1: Red Bull
1. What are Red Bull’s greatest strengths as more companies (like Coca-Cola, Pepsi, and Monster) enter the energy drink category and gain market share? What are the risks to their brand equity of competing against such powerhouses?
2. Discuss the pros and cons of Red Bull’s nontraditional marketing tactics. Should the company do more traditional advertising? Why, or why not?
3. Discuss the effectiveness of Red Bull’s sponsorships, advertisements, personal selling strategies, promotion, events, and public relations. Where should the company draw the line in terms of risk?
4. Recommend the next steps for Red Bull with respect to their marketing and advertising strategies.
- In formatting your case analysis, do not use the question-and-answer format; instead, use an essay format with subheadings.
- Your APA-formatted case study should be a minimum of 500 words in length (not counting the title and reference pages).
- You are required to use a minimum of three peer-reviewed, academic sources that are no more than 5 years old (one may be your textbook).
- All sources used must be referenced; paraphrased material must have accompanying in-text citations
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Attached.
Running head: RED BULL
1
Red Bull
Name
Institution
RED BULL
2
Red Bull
What are Red Bull’s greatest strengths as more companies (like Coca-Cola, Pepsi, and
Monster) enter the energy drink category and gain market share? What are the risks to
their brand equity of competing against such powerhouses?
Red Bull’s greatest strength is that the company has built such a strong global presence
over a short period through its unique marketing strategy that they can use their events and
license agreements to generate income (Persson, 2016). For example, they utilized their own
YouTube channel to advertise the Bull Stratos event and afterward the company sold the
licensing rights to British Broadcasting Corporation to develop a documentary. It plays part in
reducing the risk from competitors as they have established an additional income source other
than just selling energy drinks (Ots, & Nyilasy, 2015).
Another great defense against companies such as Pepsi and Coca-Cola is the fact that
unsuccessful energy drinks from these compe...