Red Bull: The Wiiings Migration
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What if I told you that for $2 and something cents, you could get: the confidence to base-jump from Mt. Kilimanjaro, the endurance to compete in a triathlon across New Zealand, and the concentration to backflip over a 72ft canyon in Utah? Would you buy it? Red Bull isn’t just Caffeine, Taurine, B-vitamins, and Alpine Spring Water. Red Bull is an experience; it’s a lifestyle. It’s about being bold, taking enormous risks to break barriers, and setting higher goals for not just yourself but for others around the globe. Red Bull is something to inspire others and to soar to higher heights, and on occasion, break records to set the bar higher for the next person. Red Bull is about improving one’s ability to perform under pressure. Whether you are an extreme athlete or a student in college writing a thesis so that he can graduate from the Honors College, Red Bull provides that boost of energy and focus to trample any obstacles one might face in their daily lives. It gives you “wings when you need them.” This thesis was written to explore the unique sports marketing strategy Red Bull has been using over the years. From Formula 1 racing sponsorships to hosting extreme sporting events around the globe, if it’s an adrenaline inducing activity, the bulls are charging forward. In this thesis, I will be discussing the following topics: 1) The History of Red Bull, 2) Events and Athletic Involvement, 3) How Red Bull Created a Need, 4) The Future of Red Bull, 5) SWOT analysis, 6) Potential International Expansions. The primary topic in this thesis is the Future of Red Bull and its potential international expansions. I have chosen three different countries Red Bull GmbH has either not penetrated or has had difficulty gaining the market share. For each country, I have provided different events and/or programs Red Bull could potentially implement in order to engage with current customers as well as new customers. Each event and/or program has been developed through secondary research in order to support my reasoning for that event.