BUS FPX 3030 Assessment 4 Promotion Analysis and Sales Plan

Promotion Analysis and Sales Plan

Promotion analysis is the study of promotional activities like advertising, sales promotions, and public relations. It involves examining how these actions affect customer behavior and determining whether they help the company achieve its marketing objectives. Businesses can use analysis of promotional efforts to determine which ones are most effective and which ones should be changed or canceled. Then again, a deals plan is an essential report that characterizes how a business expects to accomplish its deals targets over a predetermined period. It frequently involves a depiction of the organization’s objective market, deals targets, procedures for accomplishing them, and strategies for executing them. An implementation schedule and a budget for promotional activities may be included in a sales plan (Arafat & Hamamra, 2022). The two concepts are intertwined because promotional efforts frequently form an integral part of a company’s sales strategy. By measuring how well its promotions perform, a company can decide which promotions to include in its sales plan and how much to budget for them. Get BUS FPX 3030 Assessment 4 Promotion Analysis and Sales Plan

Evaluate the Effectiveness of Brand Ambassadors 

Red Bull is a notable brand with good standing for its caffeinated drinks. The company has hired brand ambassadors as part of its marketing strategy to promote its products and build brand recognition. In the case of a brand-new energy drink with a coffee flavor, Red Bull’s brand ambassadors may play a significant role in piqueing the interest of potential customers and boosting brand recognition. Using these ambassadors’ credibility and power, Red Bull might be able to reach a larger audience and boost sales of the new product (Dbiska, 2019). The new brand ambassadors for the energy drink with a coffee flavor should be relevant to and relatable to the drink’s intended audience. On the off chance that the brand diplomats don’t resound with the interest group, their impact on the showcasing plan might be confined. In addition, the brand ambassadors ought to have a sizable following on social media and other platforms through which they can advertise the new product. The ambassadors’ potential reach and influence on the marketing strategy increase with their following. Lastly, the brand ambassadors’ communication should be in line with the energy drink’s overall marketing strategy (Dumont & Ots, 2020). The message should draw in the intended audience by emphasizing the product’s distinctive features and benefits. If Red Bull’s brand ambassadors meet these requirements, they may play a significant role in the marketing strategy for the new coffee-flavored energy drink.

Company Message and Expand their Target Market

Brand ambassadors are regarded as an essential part of Red Bull’s overall marketing strategy, and the company places a high value on them. These individuals are crucial in enhancing the brand’s message and broadening its audience through a variety of channels. Brand envoys are every now and again chosen in light of their crowd’s view of their validity and reliability. By associating with these characters, Red Bull can expand their crowd’s certainty and dependability (Edwards et al., 2021). Genuine connections and experiences are highly valued by younger generations. Through imparting individual encounters to the organization, Red Bull’s image diplomats much of the time epitomize this genuineness, which can reverberate with shoppers and cultivate a feeling of trust. BUS FPX 3030 Assessment 4 Promotion Analysis and Sales Plan

BUS FPX 3030 Assessment 4 Promotion Analysis and Sales Plan

Red Bull can benefit from brand ambassadors’ large social media and other platform followings in expanding its target market. Red Bull can contact new crowds and draw in with them all the more genuinely by cooperating with brand ministers with major areas of strength for unambiguous socioeconomics or districts. According to Kong (2019), Red Bull’s brand ambassadors frequently possess a daring or creative spirit that is in line with the company’s image. This could result in a marketing strategy that is both more interesting and effective at retaining existing customers and acquiring new ones.

Persuading, fulfilling, and surveying brand diplomats are vital to Red Bull’s program the executives. Recognition, the opportunity to attend exclusive events or events, and access to new products are all common motivators for brand ambassadors. Red Bull may offer unique products, social media shootout invitations, and VIP event invitations as incentives. Additionally, it can be motivating to provide brand ambassadors with the opportunity to network with other ambassadors or fundamental industry professionals. A reward can come in a variety of forms, including cash bonuses and giveaways of products or gifts. Some potential Red Bull reward ideas include free Red Bull or branded merchandise, discounts on future purchases, or a tiering system of prizes based on the number of sales or leads generated by brand ambassadors (Spielmann, 2020).

Methods to Motivate and Evaluate Staff

Red Bull might use both quantitative and qualitative metrics, like the number of impressions or engagement rates on social media, the number of leads generated or sales closed, or feedback from customers or attendees at events. In spite of the fact that cash rewards can be strong inspirations for brand diplomats, they ought to be utilized circumspectly. Rather than relying solely on financial incentives, brand ambassadors should be motivated by the brand’s values and passion (Kang, 2019). Additionally, some brand ambassador programs, particularly those with a large number of participants or those that operate in locations with varying pricing structures, may not be eligible for financial bonuses. By combining recognition, exclusive experiences, goods, and performance measures, Red Bull can develop a program that encourages and rewards its brand ambassadors. Additionally, it monitors their performance to guarantee that the program is achieving its goals.

Analyze Sales Techniques and How they Impact Marketing and Sales Plans.

Red Bull’s exceptional and fruitful deals rehearses have contributed fundamentally to the organization’s development and thriving. Red Bull helps the company increase brand awareness and appeal to its target demographic by sponsoring a variety of extreme sports events and other activities. By interfacing itself with different occasions and exercises, Red Bull can showcase itself as a way of life brand as opposed to just a caffeinated drink. Red Bull every now and again appropriates free examples of their items at occasions and during promoting endeavors. According to Dbiska (2019), this efficient sales strategy enables customers to test the products and become devoted customers.

In retail locations, Red Bull uses creative and eye-catching displays to draw attention to its products and increase sales. These showcases regularly incorporate Red Bull’s brand name logo, variety conspire, and limited time things like banners and standards. The brand ambassadors for Red Bull are crucial to the brand’s marketing and sales growth. Collaborations with influencers and social media are key components of Red Bull’s robust digital marketing strategy. The business can thus interact with new audiences in a more meaningful manner.

Suggestion for Improvement

Revenue and brand recognition are both enhanced by Red Bull’s sales strategies. The sampling programs offered by Red Bull are well-known, and they may be extended to other markets or platforms. Through delivery services or other businesses, Red Bull may offer free samples. Using customer data and technology, Red Bull may personalize marketing. The company may target customers at specific events using geolocation data or social media data to create personalized ads. Red Bull’s store displays could be improved, even though they are already captivating (Kerns, 2021). Red Bull might utilize AR to improve client encounters. In live streams or social media takeovers, Red Bull may employ brand ambassadors. The business can work creatively with new social media platforms or partner with them.

Analyze Red Bull Sports Marketing Strategy

Red Bull’s games promoting procedure centers around supporting world-class outrageous games competitors and contests. This technique has been exceptionally powerful in helping brand deals. Red Bull is able to reach a specific age group of young people who are daring and eager for new experiences because of their sponsorship of extreme sports athletes and events. Red Bull is able to reach out to this group and strengthen its relationship with them by sponsoring events like the X Games. By partnering with athletes who are known for their courage and skill, Red Bull can gain the trust and credibility of customers who are looking for a product that can help them push their limits and achieve their goals. Red Bull fosters an emotional connection with its target audience by sponsoring extreme sports competitions and athletes. By connecting itself with thrilling and daring activities, Red Bull can cultivate a deeper connection with customers by appealing to the emotions and aspirations of its target market (Arafat & Hamamra, 2022).

BUS FPX 3030 Assessment 4 Promotion Analysis and Sales Plan

 By sponsoring extreme sports competitions and athletes, Red Bull can increase the visibility of its brand. Red Bull sets itself apart from its rivals by sponsoring extreme sports events and athletes. While other energy drink brands may emphasize traditional sports sponsorships, Red Bull’s focus on extreme sports allows it to stand out and appeal to a younger, more adventurous population (Kang, 2019). Red Bull’s marketing strategy of sponsoring well-known extreme sports athletes and events has proven to be highly successful in increasing sales. This is because it targets a specific group of people, giving them a sense of authenticity and credibility that sticks. In essence, Red Bull has successfully attracted a dedicated fan base by partnering with the world’s best extreme sports athletes and showcasing them at various events.

Social Media Strategy and How it Impacts Marketing and Sales Plans

Red Bull’s marketing and sales goals are heavily dependent on its social media strategy. The company actively promotes its products on popular social media platforms like Facebook, Instagram, Twitter, and YouTube in order to increase brand recognition and customer acquisition. Red Bull wants to connect with its target audience, build a strong online presence, and ultimately boost sales by utilizing these platforms’ power. Red Bull’s social media strategy boosts its image and grows its following. In order to increase customer engagement, Red Bull’s social media strategy encourages fans to communicate, upload content, and participate in contests and prize giveaways (Kerns, 2021). This interaction may result in customer repeat business and brand loyalty. Sales may rise as a result of Red Bull’s social media advertising and urgency-generating strategy. Discounts on social media may increase Red Bull sales.

The brand creates top notch outrageous games, supported competitors, and item advancement recordings. Through the quantity and quality of social media, brand perception and user interaction can influence sales. The methodology of Red Bull towards web-based entertainment is revolved around the production of dazzling and invigorating substance, which is intended to spellbind the consideration of their main interest group and empower connection and commitment on their different virtual entertainment stages. Social media is used by brands to engage customers (Spielmann, 2020). Highlights from extreme sports, behind-the-scenes footage, and sponsored athlete content can be found on Red Bull’s YouTube channel. Millions of people watched and engaged with the brand as a result of the “Red Bull Stratos” campaign, which streamed Felix Baumgartner’s record-breaking skydive from the stratosphere.

Examine the Implications of the Marketing Program

Red Bull’s success depends on how well its marketing efforts work together. To keep a brought together and lucid brand picture across different channels, the organization utilizes a synergistic methodology that includes the reconciliation of assorted showcasing procedures like promoting, deals advancement, advertising, direct showcasing, and individual selling. Red Bull is able to effectively spread its message and increase its market presence by strategically combining these strategies. This strategy assists work with marking mindfulness and picture. (Trivedi & Malik, 2022) A consistent message across various media increases sales and brand loyalty. Customers are more likely to remember a brand and its message after multiple touchpoints. This builds familiarity and trust, which can increase sales.

BUS FPX 3030 Assessment 4 Promotion Analysis and Sales Plan

To convey a consistent message, Red Bull makes use of social media, television, events, and sponsorship of extreme sports athletes and events. The brand’s showcasing reliably advances “giving you wings,” making a powerful and paramount brand character. This strategy further develops advertising and deals (Trivedi and Malik, 2022). For Red Bull to make money, it needs to use an integrated marketing strategy. Reliable information across media can fabricate brand-recognizable proof and devotion. Revenue and market share rise as a result.

Conclusion

Red Bull’s insightful evaluation of promotional campaigns and sales planning clearly demonstrates the company’s efficient marketing strategies, indicating a sound strategy for achieving their marketing goals. Social media marketing, sports sponsorships, and brand ambassadors have all played an important role in promoting the brand and increasing sales. Red Bull’s coordination of assorted promoting angles across numerous media has further developed memorability and steadfastness. Among the proposed enhancements are focusing on neighborhood advertising efforts and extending item choices. Red Bull’s continuous flourishing and overall development can be ascribed to the extensive assessment of the organization’s special methodologies and deals approach. The brand has been able to develop a successful sales strategy thanks to this analysis, which ultimately contributed to its ongoing economic success.

References 

Arafat, T., & Hamamra, B. (2022). Word elongation as an audience-design strategy in social media marketing in Palestine. Cogent Arts & Humanities, 9(1). https://doi.org/10.1080/23311983.2022.2116772

Dębińska, D. (2019). The evaluation of global marketing strategy based on the example of Red Bull GmbH. Ruj.uj.edu.pl. https://ruj.uj.edu.pl/xmlui/handle/item/234378

Dumont, G., & Ots, M. (2020). Social dynamics and stakeholder relationships in personal branding. Journal of Business Research, 106, 118–128. https://doi.org/10.1016/j.jbusres.2019.09.013

Edwards, C. G., Pollack, C. C., Prischett, S. J., Haushalter, K., Long, J. W., & Masterson, T. D. (2021). Prevalence and comparisons of alcohol, candy, energy drink, snack, soda, and restaurant brand and product marketing on Twitch, Facebook gaming, and youtube gaming. Public Health Nutrition, 1–32. https://doi.org/10.1017/s1368980021004420

Kang, J. (2019, July 26). Consumer perception of the brand in social media: 3Es as drivers of brand admiration. Repositories.lib.utexas.edu. https://repositories.lib.utexas.edu/handle/2152/76208

Kerns, C. C. (2021). A postfeminist multimodal discourse analysis of red bull sponsored female action sports athletes’ digital media representation. Doctoral dissertations. https://trace.tennessee.edu/utk_graddiss/7018/

Spielmann, D. (2020). School of management, economics, law, social sciences and international affairs (hsg) master of arts in marketing, services and communication management opportunities and barriers for non-endemic brands in eSports-sponsoring. https://center-sportmanagement.com/wp-content/uploads/2021/02/Doktorarbeit_Danielle-Spielmann.pdf

Trivedi, S., & Malik, R. (2022). Social media marketing as new marketing tool. Research anthology on social media advertising and building consumer relationships. https://www.igi-global.com/chapter/social-media-marketing-as-new-marketing-tool/305324