Case studies are an important learning strategy in business classes as they provide an opportunity…

Case studies are an important learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides with an end goal of formulating a recommendation for the challenges faced by the company.
Select one of the three case studies listed below, which can be found in your textbook. Evaluate the case of your choice, and respond to each of the questions below using both theory and practical managerial thinking as well as supporting research.
Option 1: Red Bull (pp. 581–582)
1. What are Red Bull’s greatest strengths as more companies (like Coca-Cola, Pepsi, and Monster) enter the energy drink category and gain market share? What are the risks to their brand equity of competing against such powerhouses?
2. Discuss the pros and cons of Red Bull’s nontraditional marketing tactics. Should the company do more traditional advertising? Why, or why not?
3. Discuss the effectiveness of Red Bull’s sponsorships, advertisements, personal selling strategies, promotion, events, and public relations. Where should the company draw the line in terms of risk?
4. Recommend the next steps for Red Bull with respect to their marketing and advertising strategies.
In formatting your case analysis, do not use the question-and-answer format; instead, use an essay format with subheadings. Your APA-formatted case study should be a minimum of 500 words in length (not counting the title and reference pages). You are required to use a minimum of three peer-reviewed, academic sources that are no more than 5 years old (one may be your textbook). All sources used, including the textbook, must be referenced; paraphrased material must have accompanying in-text citations.