211105864 Diploma in Sport Management MAR 313 MARKETING THREE Assignment 2 Due Date: 16/05/2014 Online investigation into Red Bull’s approach to the market as well as a marketing plan. Contents Page Page 1. RED BULLS EXECUTIVE SUMMARY 3 2. RED BULLS MARKETING PLAN 4 3. RED BULL HAS GIVEN ITSELF WINGS 7 4. REFERENCES 8 RED BULLS EXECUTIVE SUMMARY In the document to follow we will attempt to write a marketing plan for the world leader in marketing
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Red Bull May Not Give You Wings’ In today’s world‚ the name Red Bull and the slogan "Red Bull Gives You Wings has been inscribed into the minds of consumers around the globe. The popular energy drink‚ which seems to have sky-rocketed in US as well as world-wide sales is no miracle drug‚ although it does seem that way by the overflowing demand. Known to many as a coffee substitute‚ Red Bull is able to give its buyers that extra push or burst of energy to keep their day going due to its increased
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Hofstede’s Model Geert Hofstede developed a cultural dimension model that explains the five categories of positions between national cultures. The five dimensions pertaining to this model include: individualism‚ materialism‚ time orientation‚ deference to authority and uncertainty avoidance. Hofstede’s research is still practiced today but has undergone some changes since it was first introduced due to cultural and economic modifications during past years. To understand this model the five
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group who see all members as ‘co-creators’. A relatively egalitarian structure in which individuals are given the freedom to improvise. Silicon Valley is a good example of where this has worked to great effect. Trompenaars and Hampden-Turner: Seven Cultural Dimensions 1. UNIVERSALISM versus PLURALISM “What is more important – rules or relationships?” The degree of importance a culture assigns to either the law or to personal relationships. In a universalistic culture‚ people share the belief that general
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in Spain than in Holland. The Netherlands has 38 on the cultural scale of Hofstede’s analysis and Spain has 57. This means that the gap between wealthy and poor is bigger in Spain than in Holand. Individualism As you can see The IDV in the Netherlands (80) is much higher than in spain(51). The netherlands can be considered as individualistic with a relatively high score (80) on the scale of Hofstede compared to Spain were they have stronger collectivism
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Red Bull‚ a stunning example of Neo-Liberalism: Almost everybody around the globe knows Red Bull. Even if this brand was less known a few months ago‚ this company is making sure you will hear about them with their space program baptized ‘Red Bull Stratos’1. The idea was to make a man jump from the highest point possible in the stratosphere‚ as a way to attract the attention of as many people as possible. So they made Felix Baumgartner‚ an athlete having the same nationality as Red Bull itself
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Negotiating with the Chinese: A Socio-Cultural Analysis Pervez Ghauri Tony Fang China has been one of the most favorite markets for Western firms for the last decade. However‚ doing business with China is considered difficult‚ mainly because negotiating with Chinese counterparts is quite complex. This paper analyses the negotiation process with China from a socio-cultural perspective. A Swedish multinational‚ Ericsson‚ is followed for several years and its negotiation process for different Chinese
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MARKETING MIX Product Red Bull energy drink is the first product of Red Bull‚. later expanding their product line with Red Bull sugar-free‚ and Red Bull shots. One point to consider is their limited product range. Unlike their major competitors likeCoca Cola and Pepsi‚ having different products in various beverage classes like water‚ soft drinks‚ electrolytes etc‚ Red Bull does not. Only having one product class can be positive‚ for example Red Bull can concentrate 100% effort on their energy
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Culture Theories:PART I: Comparing and contrasting the Hofstede and GLOBE theory:Abstract:Ethics plays an important part in influencing the culture of business. Ethics is defined as a set of principles for an individual or a group of individuals. Some ethics are influences by religion and some by region. Still there are common ethics which influence every individual. There are various theories which suggest various methods to be followed by organizations to deal with conflicting cultures in organizations
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identify the critical elements of the sociological environment of business. These elements are: Social institutions and systems Social values and attitudes Education and culture Role and responsibility of Government Social groups and movements Socio-economic order Social problems and prospects Social institutions and systems Social Institutions and systems develop through history‚ culture and heritage. The caste system‚ the fount family system‚ child marriage‚ sad
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