Tuesday , October 17 2017
Home / Research Papers / Management / Red Bull Event Management

Red Bull Event Management

Red Bull Event Management – Air Race Events

Detail of Event Theme/design

The application of theme design is an important aspect of event management, as it enables the experience of an event to defer to another. It also maximizes a great and positive impact for the spectators, participants, or the audience. Meanwhile, the theme of any event helps the audience or attendees to understand the purpose of the event as it is often linked to each other. (purpose and theme)

Catering:

Catering for the attendees at Red Bull Air Race events is usually a big investment. Though, the food and drinks are sourced by the attendees themselves, but are massively provided by the hosts or organizers of the events in the country the events are being taken place.

Content: The stakeholders, pilots arrive, and other stewards get the events started

Entertainment: Red Bull extreme sport assets, including f1 cars, BMX, motor cross demos, and free-runner, immersive street theater.

Environment: Air race events decoration

Production: Inter-pilot competition, air race competition,

Program: People watch the air race competition from the first day in the weekend till the final day.

Theme: Red Bull organization’s colors (Blue and Red)

Strengths of Red Bull Air Race

  • Renown across the world
  • Millions of fans all over the continents of the world
  • Features world best pilots
  • Keeps expanding on a yearly basis
  • Generates around £138 million pounds from local and international guests

Opportunity

  • Attracts a large audience and promote social cultural heritage among guests
  • Makes great sales from accommodation, service deliveries, and catering
  • High economic impact, thus leading to higher popularity
  • More sponsors and customers liking the drink brands
  • Partnering with governments of various countries of the world

The Importance of Strategic Theory and its Application to an Event Industry

Strategic Importance:

A corporate strategy is very important for the event industry, especially when the need to launch into a new market Red Bull Event Managementarises. The absence of strategy in getting events done limit an event management from having long term plan techniques for the achievement of goals and objectives, . Additionally, an event management can lose focus when there is no defined strategy. Therefore, for Red Bull Air Race event to be successful in the new market of launch, there has to be a defined strategic plan. Also, the strategy will help achieve a measurable progress s while carrying out the goals.

Strength of Local Resources

Red Bull Air Race events occur in different countries of the world and thus, the local facilities, infrastructures, and amenities are of great necessity to the events, which is of great importance and opportunity for Red Bull Air Race anywhere in the world. Also, the countries or cities Red Bull Air Race events are used are usually strategic locations that are financial centres, multi-cultural cities with great professionals and popularity. In most cases, the resources are locally sourced to ensure the events are well organized to suit the purpose. For example, France is a developed nation, and Paris is a renowned city in France blessed and occupied with so many infrastructures in its local communities that could be used for an international events such as that of Red Bull Air Race events. In addition, Paris is originally a tourist city that attracts visitors from all over the world; therefore, the local resources will be sufficient to accommodate Red Bull Air Race events. Moreover, Paris is the most important city with greater economic activity in relation to France and Europe. However, there may be a shift in the France economy, which was caused by the global recession in 2007, but this does not stop events from holding in the country. As a matter of fact, the French government will be very supportive, since the events are geared towards assisting the economy of the country.

Cultural Differences:

Since Red Bull Air Race events are held at different locations or countries of the world either repeatedly or once, such city has their cultures and cultural differences. Therefore, there are various cultural differences having events in a foreign land, but adaptation to cultural differences helps to thrive excellently. So understanding the cultural differences of the country at hand is relatively important to ensure how to manage the differences to ensure there is a smooth running of the event. These include, understanding personal relationship, proper salutation and communication as well as recognition of cultural dates and figures. For example, France has a unique culture which has to be understood, although France has been regarded as one of the world’s biggest modern and greatly developed countries, and also the leader of all European nations. Understanding and respecting the French language is very important, the French take so much priority in their language, and therefore, no other culture can supersede their language when I come to relating directly with them. However, English language is still allowed and accepted for international events, this is because many of those in the French business world are fluent English speakers. Also, there is a business model in French, understand each of the proceeding will help not to break protocol and maintain the business dealings and their levels in the country. Moreover, in strategic planning, being formal and professional is very important, because it earns more symbol of the country one is coming from and also helps to strike a deal easier and faster. Finally, enjoying their cultural heritage will help build an avenue for a cultural exchange within the country, this includes some French cultural discussions and other related aspects is usually encouraged.

Country Restrictions:

There are factors that make the government or the community of a country restricts an event from fulfilling its goals and objectives. Red Bull Air Race events are done in various countries and their restrictions differ. In France, the government takes their corporate social responsibilities so important, especially with respect to international businesses in the country. This ranges from the appropriate reduction in carbon emission, since the country is fully dependent on oil imports, they try to reduce air pollution to its minimum. Further, punctuality in France is very important to its citizen, especially in the big cities. For social events like the Red Bull Air race events, it is very important that it is started on time, because France’ citizens prefer to come very early to occasions like this.

Company Capacities and Characteristics

Degree of near-market knowledge:

The necessity of having full knowledge about market entry decisions is relatively imperative, especially when going into the foreign markets. It helps determine which market is good enough to enter into. Considering the cultural distance in making a choice of the new foreign market will also help understand how easy it is to explore the market. Getting fully equipped with what it takes to work with Paris will help guide through understanding the government regulations, the necessary and required organizations responsible for foreign business operations. Furthermore, understanding the impact the economic situation will provide from France is relatively necessary so as to weigh the domestic market and also the potential new market in relating to the country’s economic attractiveness. Finally, the knowledge about cultural distance will be considered wholly.

Marketing involvement:

This is based on the Consumer Involvement Theory – CIT. It refers to understanding the behavior and psychology of the target market. The strategy to employ in this regard is to use high involvement where there is opportunity in getting to understand all things related to technology infrastructure and other location items needed to launch a new market. For example, staging an event in Paris would require a very high level and sophisticated technological equipment that will enable the events reach the optimum performance needed for the success of the event. With full and high involvement capacity, there will also be an understanding of the target market and how they will also relate to the business of the event. Other aspects of marketing involvement are linked to print advertising for the event, ticket sales and more.

Management Commitment:

The management has to be committed to their cause for better operation. In the case of these events, it is the responsibility of the management (organizers of the events) that all necessary factors to create an environment of constant improvement is done by the management, especially the highest level of the management. Management commitment is linked to the highest passion and interest for the safety of the organization, creating and developing newer safety policy for the events, delivering more resources and training for competence sake, making sure that all the staff of the organization are well trained to deliver the needful, understanding the financial statement of the organization and how more funds can be strategically raised, and more.

Leave a Reply

Your email address will not be published. Required fields are marked *