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...

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 brand. 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 incurred in managing such an event but the outcomes of a successful special event is far more in comparison to the expense incurred for such. This assignment deals with managing special event of Red Bull, an energy drink brand 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 brand 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 referred 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 referred 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 bring 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 occurrence. Because of the purpose of occurrence, 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, irrespective 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...