Introduction to Event Management
Event management is the planning, administrating and organizing the events for the specific purpose to serve the individual in an effective manner. International event management refers in managing some event internationally (Van der Wagen, 2010). These events assist in interacting with various different countries having unique culture but they welcome the event with the same spirit.
Red Bull Air Race is one such event being created by Red Bull GmbH which hosts the series of air races in which the competitors compete with each other by facing the challenging obstacles. The company is planning to host their event this year in the new country namely Turkey. For that, the company is trying to study the environment of this new country so that, they can plan their event successfully. For this purpose, the report has been prepared in which the SWOT analysis has been done for the Red Bull company and their event. Further it discuses about the barriers which the company can face while planning their event in the new country. It also highlights the importance of using various tools and approaches to host the event properly.
A. SWOT Analysis of Red Bull
Red Bull GmbH is an Austrian company founded in the year 1984 and its key product is Red Bull energy drink (Carter, 2007). The company operates worldwide serving the large number of customers. The company is also into organizing and sponsorship of the various sports' event. One such event is Red Bull Air Race which is an international series of Air races established in 2003 in which the competitor have to reach their respective targets by going through various challenges. The races are mainly held at the city areas which are nearby water but they are also held near the airfields or natural wonders. Through this activity, they used to attract large number of crowd and these races are being broadcasted worldwide. The current position of the organization can be analyzed by conducting the SWOT analysis of the Red Bull company.
Strength: Red Bull is an international brand and it has excelled in the energy drink market. Many a time, Red Bull is being used as a synonym for the energy drink. Strength of the company is that, it broadly expanded geographically that ensures the long term growth of the company (Baker and Baker, 2000). The organization has these two strong points with the help of which they can achieve success in the long run. In addition to this, the company sponsors various sports events so that, they can easily promote their product.
Weaknesses: Red Bull deals in only single product category as compared to their rivalry company. Red bull drink is produced to attract new customers and to offer something innovative and creative (Aven, 2008). Thus, to ensure their success in the different market segments they need to look after some new and creative aspect.
Opportunities: The Red Bull company has new emerging markets through which they can cover more geography and can attract more customers. Red bull is also planning to build new production plant at Brazil to increase their retail prices. Further, by organizing sports events they are trying to grab the attention of new customers. Thus, organizing such events can increase the market opportunities for the Red bull company (Heather and Hallman, 2008).
Threats: Red Bull needs to pay attention towards their competitors and their products which can be a threat for the company. Monster seems to be the biggest threat for the company in the way as its ingredients can attract the customers more in comparison with the Red bull drink (Tinsley, 2012). The firm is also into organizing the various events which leads to high marketing cost. Thus, they need to control their marketing cost so that, they can reduce the threat of high costing.
B. Relevance of Red Bull Race in Turkey
It is important for the Red Bull company to monitor the new host country Turkey so that, they can organize their event successfully. This will help the organization to do the proper analysis of the new country so that, they can identify the relevancy of Red Bull Air Race in the new country. Red Bull Company can analyze by using PESTLE analysis. This is the best technique to identify the forces which are affecting the organization externally. The Red bull company can do the PESTLE analysis of Turkey in the following manner:
Political Factors: One of the major political advantages of the Turkey is that, the government encourages liberalization. Turkey provides free liberal trade and investment policies for the foreign countries (Ratten and Ratten, 2011). Major political issue like terrorist attack in the Turkey has always been into controversies. Thus, this issue needs to be taken into consideration by the Red bull company while organizing their event in the Turkey.
Economic Factors: The major economic advantage for the Turkey is the high inflow of foreign investment. This has driven the economic growth of the country to another level. But the major issue in their economy is the excess current account deficits. This has led to more imports for the country (Anantatmula and Kanungo, 2008). Thus, Red bull needs to take this point into consideration.
Social Factors: In Turkey, there is a growing proportion of young population and half of the population is below 30 years. This can be a positive aspect for the Red Bull organization to host the air race event because this will help them to gain more audience for their event.
Technological Factors: Turkey is growing efficiently in the ICT center which can be a positive point for the Red Bull for hosting their Red bull air race in this nation. But on the other hand, currently, country is being facing low expenditure problem for research and development.
Legal Factors: The judicial system of Turkey is quiet flexible in boosting the business entities to invent in their country. They don't have lengthy procedures for operating their business in this economy. Thus, it can be an advantage for the Red Bull to organize their international event in Turkey (Getz, 2012).
Environmental Factors: Turkey is famous for their prosperous biodiversity. They have a comfortable natural resource base and thus, this could prove to be an advantage for the Red Bull. Red bull corporation will also have to consider the environmental factors of the different countries they are operating in so that they can successfully implement their event.
With the help of PESTLE analysis, the Red Bull Corporation can make their STP strategies such as Segmentation, Targeting and positioning for their event so that they can attract maximum people for their event.
C. Relevance of target audience
Red Bull Corporation is organizing the Red Bull Air race through which they can increase public image for their product and company. The firm is successfully organizing their various sports events to capture more the market share. Through these events, Red Bull is gaining much publicity (Kapoor and Toy, 2008). Recently, they are planning to select the new host country and for that, they have selected Turkey. This nation could prove to be the best option for Red Bull because their race has been targeted for the youngsters and in Turkey; half of the population is below the age of 30. Red Bull air race is the race in which the racer has to compete with each other on air and they have to go through various obstacles to win the race. These races are mostly organized for the young people so that they can be entertained from that event. Young people genrally takes more interest in such thrilling races as compared to the other people with other age group. Thus, the major target audience for the Red Bull Corporation is youngsters because of the following reasons:
The people in between the age group of 20-40 can enjoy this race more as compared to any other age group because young people are more energetic and excited for such races. Thus, the Red Bull Corporation must see that the relevant audiences are targeted properly (Soprovich, Rokui and Qiu, 2010).
The tag line for Red Bull is “Red Bull gives you wing”. Therefore, it can be clearly understood that the main target for company is young people. Red Bull drink is an energy drink and therefore the race too.
Turkey is a country which has a good proportion of young people and so, it can be beneficial for the Red Bull to select this nation as the host country. This will help the firm to gain and attract the attention of more young people. Through this, the international event can be incorporated properly (Brooks and Hestnes, 2010).
The race that is organized by the Red bull is not applicable for kids and senior citizens. For kids, it can be harmful because they might try to copy the acts are being done in the race which could be dangerous for their life and mainly, such races are not meant for the children. For senior citizens, the race might cause unconsciousness and they could find it extremely dangerous in comparison to the young people. Therefore, these two age group people cannot be targeted (Collingridge and Gantt, 2008).
D. Analysis of contemporary issues or barriers
Mere selecting host place for the event will not work until and unless the proper analysis of place is done. It is important for company to analyze the contemporary issues that could affect the success of it. For that, the Red bull will have to do study about the new country, that is, Turkey in detail so that they can implement their international event successfully. The various issues that they can face in launching this event could be:
Due to resuming the race in between few years might change the mind of audiences. This can cause the problem for company in attracting their target audience. Thus, to address this problem, the firm will have to do the adequate promotions for their race. They need to again energize their audience so that they can take active participation in viewing the race. Another thing that they can do is to target the specific segment and can organize various activities for them so that they can accomplish their event successfully (Ladhari, 2008).
One more problem that company may face is hosting their show in new country namely Turkey. The organization will have to do PESTLE analysis of this nation so that they can properly research on the current conditions of country. Turkey's political conditions are not so good because many a time, its economy has to go through various terrorist attacks that have hindered their economic development. Therefore, it can create the problem for Red Bull Corporation in implementing their event internationally in Turkey.
One more barrier that company can find is the availability of proper place for the race. Due to strict government rules and regulations, the firm will have to switch to some different places for carrying out their races. Thus, company will have to make proper plans so that they can plan the destinations accordingly for their air race (Yang, 2008).
E. Detail of event theme and design
Red Bull Corporation is an Austrian company that sells the Red Bull energy drink. They are advertising their product by organizing various events. One such event is being organized by the Red Bull that is Red Bull Air race. This race was being established in the year 2003 (Harner, 2010). Red Bull Air race is the series of air race in which competitors have to compete against each other in the air and have to pass through many challenges to win the race. They have successfully organizing their event from the last few years and through this they are being able to gain the maximum market share for their products. The event was resumed after the event of 2010 and now they are planning to relaunch the event with some more excitement and fun. For that they have decided to launch their new event on the 13-14 of February with the traditional opening in Abu Dhabi (Oler, Harrison, and Allen, 2008). Starting form Abu Dhabi the whole schedule is being prepared so that the event can be carried in successfully. This year the company has also decided to launch their race in the new host city that is Turkey so that they can attract their more new customers. The theme of the race is to target the young audience with the thrilling and exciting race in the air so that more and more people could be attracted towards the company. The company also broadcast their event internationally through various media channels so that they can create strong viewers across the country (Spencer, Carr and Doherty, 2012).
F. Marketing plan for launch
It is required to develop the strategy as part of launching the air race within Turkey so that more of viewers gets attracted towards it and hence it awareness gets increased. In this regard, Red Bull need to focus on various aspects such as marketing tactics, channels of communication, content, creative advertising and other related. Considering the concept of air race, it is required that the company must conduct viral marketing as part of boosting its awareness. In this context, man can be tied with aircraft that making the gesture of racing in the air (Spencer, Carr and Doherty, 2012). Videos of the same can be prepared and same need to post at social media such as Facebook and YouTube as part of influencing individuals. Additionally, this aircraft can hover over the prominent cities of Turkey in order to develop awareness. With this, innovative advertising can be done that helps in attracting more of customers towards it. Apart from this, press conference can be done at the cities of Turkey in order to boost the publicity among the society. From this, more of responses can be attained from the individuals and it will lead to successful launch. This news can be further posted on Facebook so that internet users can share it and know about the concept of air race.
In addition to above mentioned activity, Red Bull needs to focus on social media marketing as well. Under this, page can be developed on the Facebook, YouTube and other prominent sites and creative images and videos can be shared on regular basis. This is a mode from which direct contact with viewers can be made and hence it influences them to most. This will help company in boosting awareness as internet users will further share the videos and images on their wall post (Hassanien and Dale, 2012). From this, overall awareness among the audiences gets increased. Additionally, mobile marketing is another prominent method that must be used by the cited firm as part of marketing its launch. Under this, message and information related to air race can be sent to wide number of individual as part of gaining their attention instantly. Under this, links can even be shared from which live streaming of air race and other related information can be attained. This will help in spreading awareness to wide range of viewers irrespective of the geographical region. Hence, social media marketing and mobile marketing will help company in boosting awareness among the internet users.
Beside all these, the company must focus on print media also as it is the mode on which majority of individuals relies on for gaining information. Under this, article can be post time to time in order to develop interest among people (Duijm, 2009). Further, advertisement through image and creative slogans must be done in order to boost the influence. This will essentially helps in catering the attention of viewer’s and hence air race will results into heavy success. However, newspaper will be backed up with hoarding, banners and broachers. With this, each set of audiences will able to know about the event and hence number of visitors will get increased. Additionally, radio can also be used up to certain extent as part of publishing the event. Further, television is another key tool that helps in sharing the information in effectual manner. Under this, viral videos and creative advertising can be developed in order to boost the awareness among the target customers. It is one of the most effective modes that aids in contacting relatively larger public. To further flourish the effectiveness of TV advertising, practice of celebrity endorsement can be adopted (Event, 2014.).
Hence, Red Bull can conduct marketing of the launching air race from different modes. This will prominently include social media marketing, mobile marketing, press conference, viral marketing, creative advertising, celebrity endorsement, TV advertising, newspaper, radio and other related (Business event management. 2013). Through this, large number of audiences will get attracted towards it which will make it a successful event.
From this report it can be concluded that conducting an International event is not an easy task. The company and the event mangers has to go through various factors through which they can launch their event successfully. In context to this international event management the report has been prepared that which highlights the international event of Red Bull Air Race of Red Bull Corporation. Through this event the SWOT analysis of the air race is being done to identify the advantages and disadvantages of this event. The company is also planning to host their event in the new country that is Turkey. Therefore, it will be important for the company to evaluate the various factors that can affect the successful launching of this event. This has been done through PESTLE analysis in this report. At last the possible barriers are being identified that can have an impact on the successful implementation of the event. Therefore, the company will have to take the proper steps through which they can properly launch their event and they can do so more effectively by doing the market research properly for all the countries they are trying to do their operations with.
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