The Extreme Sports Market : Red Bull

1516 Words Dec 10th, 2015 7 Pages
The extreme sports market is one of the fastest growing sports industries in the world, and many companies attempt to capture this emerging market in order to branch out into new industries to attract more consumers. Although many companies have attempted to capture this market, no company has been able to match the success of the energy drink powerhouse, Red Bull. Red Bull was founded in Austria in 1984, and since then has grown rapidly, while also inventing new marketing strategies along the way. According to Forbes, Red Bull is the “76th worldwide most valuable brand”, which is estimated to be worth 7.2 billion dollars. “The brand that gives you wings sold 5.6 billion cans, up 4%, across 170 countries in 2014” (Badenhausen, 2015). On the Other hand, just like many of the fortune 500 companies Red Bull is way more than just an energy drink company. According to Red Bulls official website, Red Bull owns an F1 racing team, aircraft racing series, motorcycle racing team, motorcycle racing series, skateboard series, and has its hands on a plethora of other extreme sports all across the globe (Red Bull, 2015). This company prides itself on hosting world record breaking stunts, huge musical festivals, and is constantly a major partner in lower level extreme sporting events, Red Bull as a company has seen rapid expansion over the past 30 years, which can be greatly attributed its massive marketing budget aimed directly at creating an image of excitement that Red Bulls strives…

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