Red Bull Marketing Plan - 2846 Words

Red Bull Marketing Plan Introduction Red Bull, the iconic pioneer of the late 20th century energy drink movement, is enormously successful and popular. Everyone has had days where a cup of coffee seems woefully inadequate, and beverages such as Red Bull â€Å"give you wings†, as their slogan promises, and offer a refreshing lift to help people conquer their overfilled schedules and endless meetings. However, with only one flavor and a seemingly narrow target demographic, is Red Bull really capitalizing on their significant brand equity? In this marketing plan, we will discuss the possibilities that lay ahead for Red Bull, including modifications to product, pricing, distribution, and promotional strategies. Since Red Bull is such a†¦show more content†¦Despite the plethora of strengths and opportunities, there are also threats to the product’s success. One of the main threats is the wide variety of competition that has arisen during the past few years. Many companies such as Monster and AMP have created similar energy drinks that offer more options in flavor and a cheaper price per fluid ounce. Further advances from such competitors provide the primary threat to Red Bull’s success. Another threat to Red Bull is the increasing societal focus on consuming products that are healthy and/or all natural. If this health-conscious societal trend continues, the artificial ingredients in Red Bull and the associated health risks could cause the drink to lose significant popularity. Competitive Analysis In any given market you are bound to have competition, in the case of Red Bull, they were the first company to launch their product that is meant to energize and increase performance. Ever since the release of Red Bull products into the United States in 1996 (www.Redbull.com), they have come across quite a bit of competition. Companies like Monster and Rockstar have since come out with a similar product to Red Bull with a different twist. Considering the fact that these companies are marketing to the same target audience, it is important that they have built up theirShow MoreRelatedRed Bull Marketing Plan7856 Words   |  32 PagesHow Red Bull woke up the teen market It looks (and tastes) like medicine, but it still conquered the soft drinks trade. Now the edgy pick-me-up is moving into the grown-up world of motor racing. John Arlidge reports reddit this John Arlidge The Observer, Sunday 5 December 2004 Article history At this time of year fallen leaves shroud the carefully planned suburbs of Milton Keynes. Mist drifts in from the fields. The posh car firms - Mercedes, Volkswagen, Audi - whose UK head offices ringRead MoreRed Bull Marketing Plan1809 Words   |  8 Pages 2 Executive Summary 2 Current Marketing Situation 2 Market Description 2 Benefits and Product features 2 Product Review 2 Competitive Review 3 Distribution Review 3 SWOT Analysis 3 Strengths 3 Weaknesses 3 Opportunities 3 Threats 3 Objective and Issues 4 Objectives 4 Issues 4 Marketing Strategy 4 Positioning 4 ProductRead MoreRed Bull s Marketing Plan1079 Words   |  5 Pagesworld of Red Bull, a world where anything is possible through high levels of caffeine consumption. Don’t believe wingsuiting down a mountain, parkouring the Grand Canyon or breaking the speed of sound while freefalling from the stratosphere is plausible? If rational and conventional thinking dictates everyday life then the answer is simply no. Although Red Bull strives to genuinely identify with consumers, the company endorses an idealistic world. The main focus of Red Bull’s marketing plan revolvesRead MoreMarketing Plan For Red Bull Gmbh3864 Words   |  16 PagesMARKETING PLAN: RED BULL Company Red Bull GmbH Brand/Product/Service: Red Bull Prepared by: Group 5A Anoop Kamboj I Deepak Tamak I Harshraj Pethraj Mehta I Amit Simant I Ranjit Kaur Chandel OVERVIEW Red Bull was introduced for the first time in 1987 by Dietrich Mateschitz in Austria. The launch of Red Bull gave birth to a whole new product category of energy drinks. It is sold in over 166 countries all over the world, and more than 40 billion cans have been sold till now. It uses the famousRead MoreDirect Marketing with Red Bull!1369 Words   |  6 PagesIntroduction How should Red Bull market its brand in the future? I think, although Red Bull has been extremely successful in the past, times have changed and the company and products should change with it, otherwise we probably lose market share to the tremendous increased number of competitors in no time.At the height of early mornings and late nights, Red Bull energy drink became the fuel of choice for people from all walks of life. So how is Red Bull marketing its brand to meet the changing needsRead MoreRed Bull Company Analysis1061 Words   |  5 PagesOrganizational Analysis Red Bull is an energy drink sold by Austrian company Red Bull GmbH, created in 1987. Red Bull is the most popular energy drink in the world, with 4.5 billion cans sold each year. Austrian entrepreneur Dietrich Mateschitz founded   Red Bull GmbH in a partnership with Chaleo Yoovidhya. After the product was introduced the consumption doubled year by year in Austria, so the company decided to introduce Red Bull in first foreign  markets. Those markets includedRead MoreRed Bulls Market1604 Words   |  7 PagesA Bull s Market - the marketing of Red Bull energy drink Red Bull, Austria s biggest export since Arnold Schwarzenegger, has methodically created and dominated the energy drink category much in the way players of the board game Risk would defeat their opponents. Dietrich Mateschitz, the owner of Red Bull International, created the highly caffeinated beverage in 1987. Five years later, the drink spread into neighboring countries like Hungary and Slovenia, followed by Germany and Switzerland.Read MoreRed Bull993 Words   |  4 PagesRed bull is the worlds oldest and most successful energy drink brands. In 1966, Red Bull was born in Thailand as a kind of vitamin energy drink, and then Austrian entrepreneur  Dietrich Mateschitz  was inspired by this pre-existing energy drink and took this idea, modified the ingredients to suit the tastes of westerners. Now it has more than 40 years of history so far with excellent quality and good reputation, Red Bull drinks are sold in more than 140 countries and regions around the world, rankRead MoreRe dbull Branding Strategy1207 Words   |  5 Pagestowards the purchase of intended products. Market segmentation is the basis for marketing strategy development. A company needs to design the right strategies to develop the relationships between its products to right consumers. Case section In terms of Red bull, the demographic and psychographic segmentation strategies are applied in their product design and branding approach. A key component of Red Bull’s global success is that it takes social variables into account on a global scaleRead MoreRed Bull: the Drink for Generation Y970 Words   |  4 Pages1. What is the marketing mix for Red Bull? What markets does Red Bull attempt to reach? How do marketing mix elements and target markets combine to form the firm’s marketing strategy? The marketing mix for Red Bull consists of the following: Product: Energy drink Price: $1.99 (premium) Distribution: Across clubs and similar outlets, mass merchandisers Marketing Communication: Word-of-mouth to television advertising Red Bull attempts to reach extremists, sports enthusiasts