International Event Management

Red Bull Air Race is one such event being created by Red Bull GmbH, which hosts a series of air races in which the competitors compete with each other by facing 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, a report has been prepared in which the SWOT analysis has been done for the Red Bull company and its event. Further, it discusses the barriers that the company can face while planning its 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 a large number of customers. The company is also into organizing and sponsoring various sports events. One such event is the Red Bull Air Race, which is an international series of Air races established in 2003 in which the competitors have to reach their respective targets by going through various challenges. The races are mainly held in the city areas, which are near water but they are also held near the airfields or natural wonders. Through this activity, they used to attract a large number of crowds, and these races are being broadcast worldwide. The current position of the organization can be analyzed by conducting a 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, which 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 one product category as compared to their rival company. Red Bull 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 aspects.

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 a new production plant in 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 to their competitors and their products, which can be a threat to the company. The monster seems to be the biggest threat to the company in the way as its ingredients can attract customers more in comparison with the Red Bull drink (Tinsley, 2012). The firm is also into organizing various events, which leads to high marketing costs. Thus, they need to control their marketing cost so that they can reduce the threat of high costs.

B. Relevance of Red Bull Race in Turkey

The Red Bull company needs 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 the 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 Turkey is that the government encourages liberalization. Turkey provides free liberal trade and investment policies for foreign countries (Ratten and Ratten, 2011). Major political issues like the terrorist attack in Turkey have always been controversial. Thus, this issue needs to be taken into consideration by the Red Bull company while organizing their event in Turkey.

Economic Factors: The major economic advantage for Turkey is the high inflow of foreign investment. This has driven the economic growth of the country to another level. However, 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 consider this point.

Social Factors: In Turkey, there is a growing proportion of young people, and half of the population is below 30 years old. 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 Red Bull for hosting their Red Bull air race in this nation. On the other hand, currently, the country is facing a low expenditure problem for research and development.

Legal Factors: The judicial system of Turkey is quite flexible in boosting the business entities to invest in their country. They don't have lengthy procedures for operating their business in this economy. Thus, it can be an advantage for 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 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 a maximum number of people for their event.

C. Relevance of target audience

Red Bull Corporation is organizing the Red Bull Air Race, through which they can increase the public image of their product and company. The firm is successfully organizing its various sports events to capture more market share. Through these events, Red Bull has gained much publicity (Kapoor and Toy, 2008). Recently, they have been planning to select a 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 youngsters and in Turkey, half of the population is below the age of 30. Red Bull air race is a 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 young people so that they can be entertained by that event. Young people take more interest in such thrilling races as compared to other people in another 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 tagline for Red Bull is “Red Bull gives you wing”. Therefore, it can be clearly understood that the main target of the company is young people. Red Bull is an energy drink and therefore the race too.

Turkey is a country that has a good proportion of young people so it can be beneficial for the Red Bull to select this nation as the host country. This will help the firm 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 does not apply to kids and senior citizens. For kids, it can be harmful because they might try to copy the acts that are being done in the race, which could be dangerous for their lives, and mainly, such races are not meant for 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 groups of people cannot be targeted (Collingridge and Gantt, 2008).

D. Analysis of contemporary issues or barriers

Mere selecting the host place for the event will not work until and unless the proper analysis of the place is done. The company needs to analyze the contemporary issues that could affect its success. For that, the Red Bull will have to do a 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:

Resuming the race for a few years might change the minds of audiences. This can cause problems for companies in attracting their target audience. Thus, to address this problem, the firm will have to do 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 target a specific segment and organize various activities for them so that they can accomplish their event (Ladhari, 2008).

One more problem that the company may face is hosting its show in a new country, namely Turkey. The organization will have to do a PESTLE analysis of this nation so that it can properly research the current conditions of the 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 its economic development. Therefore, it can create a problem for Red Bull Corporation in implementing their event internationally in Turkey.

One more barrier that the company can find is the availability of a proper place for the race. Due to strict government rules and regulations, the firm will have to switch to some different places to carry out their races. Thus, the 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 being organized by Red Bull is the Red Bull Air race. This race was being established in the year 2003 (Harner, 2010). Red Bull Air race is a series of air races 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 organized their event for 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 in Abu Dhabi, the whole schedule is being prepared so that the event can be carried out 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 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 to the company. The company also broadcasts its events internationally through various media channels so that it 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 viewers get attracted to it and hence its awareness gets increased. In this regard, Red Bull needs to focus on various aspects such as marketing tactics, channels of communication, content, creative advertising, and others. Considering the concept of air race, it is required that the company conduct viral marketing as part of boosting its awareness. In this context, man can be tied with aircraft that make the gesture of racing in the air (Spencer, Carr, and Doherty, 2012). Videos of the same can be prepared and the same needs to be posted on social media such as Facebook and YouTube as part of influencing individuals. Additionally, this aircraft can hover over the prominent cities of Turkey to develop awareness. With this, innovative advertising can be done that helps in attracting more customers towards it. Apart from this, press conferences can be held in the cities of Turkey to boost the publicity among the society. From this, more responses can be attained from the individuals and it will lead to a successful launch. This news can be further posted on Facebook so that internet users can share it and know about the concept of air racing.

In addition to the above-mentioned activity, Red Bull needs to focus on social media marketing as well. Under this, a page can be developed on Facebook, YouTube, and other prominent sites and creative images and videos can be shared regularly. This is a mode from which direct contact with viewers can be made and hence it influences them the most. This will help the company boost awareness as internet users will further share the videos and images on their wall posts (Hassanien and Dale, 2012). From this, overall awareness among the audience gets increases. Additionally, mobile marketing is another prominent method that must be used by the cited firm as part of marketing its launch. Under this, messages and information related to air races can be sent to a 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 a wide range of viewers, irrespective of the geographical region. Hence, social media marketing and mobile marketing will help the company boost awareness among internet users.

Besides all these, the company must also focus on print media, as it is the mode on which the majority of individuals rely for gaining information. Under this, articles can be posted from time to time to develop interest among people (Duijm, 2009). Further, advertisement through images and creative slogans must be done to boost the influence. This will essentially help in catering to the attention of viewers, and hence air race will result in heavy success. However, newspapers will be backed up with hoarding, banners, and brochures. With this, each set of audience will be able to know about the event and hence the number of visitors will increase. Additionally, radio can also be used to a certain extent as part of publishing the event. Further, television is another key tool that helps in effectively sharing information. Under this, viral videos and creative advertising can be developed to boost awareness among the target customers. It is one of the most effective modes that aid in contacting a relatively larger public. To further flourish the effectiveness of TV advertising, the 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 conferences, viral marketing, creative advertising, celebrity endorsements, TV advertising, newspaper, radio, and other related activities (Business Event Management, 2013). Through this, a large number of audiences will be attracted to it, which will make it a successful event.

CONCLUSION

From this report, it can be concluded that conducting an International event is not an easy task. The company and the event managers have 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 highlights the international event of the 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 a new country, that is Turkey. Therefore, it will be important for the company to evaluate the various factors that can affect the successful launch 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.

REFERENCES

• Van der Wagen, L., 2010. Event management. Pearson Higher Education AU.
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• Tinsley, S., 2012. Environmental management systems: understanding organizational drivers and barriers. Taylor & Francis.
• Journals
• Ratten, V. and Ratten, H., 2011. International sport marketing: practical and future research implications.  Journal of Business & Industrial Marketing. 26 (8). pp. 614-620.
• Anantatmula, V. and Kanungo, S. (2008. Role of IT and KM in improving project management performance. 38(3). pp. 357-369
• Getz, D., 2012. Event studies: discourses and future directions. Event Management. 16(2). pp. 171-187.
• Kapoor, S. and Toy, A., 2008. U.S. Patent No. 7,454,459. Washington, DC: U.S. Patent and Trademark Office.
• Soprovich, G. F., Rokui, R. and Qiu, L., 2010. U.S. Patent Application 12/894. pp. 733.
• Brooks, P. and Hestnes, B., 2010. User measures of quality of experience: why being objective and quantitative is important. Network, IEEE. 24(2). pp. 8-13.

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