Introduction to Marketing Red Bull - 1928 Words

Topic 1: Introduction to Marketing Red Bull 1. The Product/ Competitors/Industry 1.1 Product Red Bull is a sweet, caffeinated drink aimed to give consumers the high energy kick. Available only in rather expensive 250ml cans, 350ml bottles, with 4 packs and only two ‘flavours’ (original or sugar-free). It contains caffeine, taurine, glucuronolactone, and B vitamins. Founded in 1984 by Austrian businessman Dietrich Mateschitz, Red Bull has become the worlds leading energy drink, a staple in many young, and active people’s lives. 1.2 Competitors Big global companies such as Coca Cola and Pepsi have introduced their own energy drink versions to their product base. Mother (by Coca Cola), Amp (Pepsi), V, Battery, 180, RedEye and Bennu†¦show more content†¦Consumers are willing to pay the higher price for Red Bull because it satisfies their needs and wants, it also delivers on its promise to ‘Vitalize Body and Mind. So regardless of size of the can or price, consumers are willing to pay for Red Bull’s product. 3. The Marketing Management Philosophy In our opinion, Red Bull fits into three of the marketing management philosophies. When it first entered the market it could be viewed in the selling concept phase. Founder Dietrich Mateschitz even stated. â€Å"If we don’t create the market, it doesn’t exist.† (Gschwandtner 2004). Mateschitz used buzz marketing to promote the product by giving consumers free samples. Once Red Bull established itself it then moved into the product concept philosophy. It seems that many consumers buy the Red Bull product wholly based on what benefits it can give them, i.e. increased wellbeing and energy. Red Bull cans are branded with the tagline ‘Vitalises body and mind’ and it is well known by consumers that drinking Red Bull can alleviate tiredness. The final philosophy the product fits into is the marketing concept. ‘This is where an organisation delivers target market satisfactions more effectively and efficiently than competitors.’ (Kotler et al. 2006). This can be done by researching its target audience and the company has shown this by the fact that ‘Red Bull hasShow MoreRelatedRed Bull Stratos Analysis1382 Words   |  6 Pages 1. INTRODUCTION 2. THE PROBLEM i. Objectives ii. Barriers 3. THE ALTERNATIVES 4. THE ISSUES 5. THE CONCLUSION 1. INTRODUCTION Red Bull Stratos occurred on 14 October 2012 in New Mexico, USA, and it is commonly considered to be a milestone in the evolution of marketing. Red Bull athlete Felix BaumgartnerRead MoreMarketing Strategy Of Red Bull952 Words   |  4 PagesIntroduction In 1984, after discovering the tonic drinks in Thailand. Red Bull developed the Energy Drink, and launching Red Bull energy drink on the Austrian market in 1987. Since then, Red Bull has launched a range of products in 167 countries, it branded itself as a market leader and premium products. Red Bull is a high road brand, it uses a progressive marketing strategy. This type of strategy aims to constantly evolve and develop the brand. The High Road Brand: The Energy drink market is dominatedRead MoreRed Bull: Building Brand Equity in a Non-Traditional Way1198 Words   |  5 PagesRED BULL: BUILDING BRAND EQUITY IN A NON-TRADITIONAL WAY BY: KAMARUL ARIFFIN NADHIRAH NOORAZLIN BINTI ANI INTRODUCTION 1985 Improves physical endurance Stimulates metabolism and helps eliminates waste substances Improves overall feeling of wellbeing Improves reaction speed and concentration Increase mental alertness Word-OfMouth Sampling Program Event Sponsorship Point-OfPurchase Athlete Endorser Advertisement Controlled All Aspects Of TheRead 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, The Leading Producer And Pioneer For Energy Drinks Essay1685 Words   |  7 PagesIntroduction For our Marketing Plan Project, we chose to research the company Red Bull, the leading producer and pioneer for energy drinks. Within this market, Red Bull offers functional beverages with the intention of boosting alertness and energy while relieving mental and physical stress. Our research will focus on Red Bull’s North American segment, as their beverage lines are mainly targeted towards this market, allowing us to bring more depth and analysis to our project. Immediate EnvironmentRead MoreMarketing Analysis : Red Bull Essay1525 Words   |  7 PagesFundamental of MARS Marketing Essay _____________________________________________________________________________________________ 1. Brand Introduction Red Bull is an energy drink brand that originated in Austria in 1987, and has since sold over 5.6 billion cans. When the product premiered it was the first of its type, and despite many competing companies starting and selling products to oppose Red Bull, the brand has remained a leader in it’s market sector. This essay will explore how Red Bull applies theRead MoreRed Bulls Competitors1151 Words   |  5 PagesCompetitors In the Hong Kong energy drink industry, Red Bull has several main direct competitors, Paolyta, Libogen and Shark. These products have similar main ingredients, taurine, glucuronolactone and caffeine with Red Bull. Therefore, these competitors provide the same benefit, which is to enhance energy, performance, concentration and speed of response by similar products. In addition, Shark keeps trying to attack Red Bull, by comparing the taste, benefits and usefulness through their advertisementsRead MoreRed Bull Environmental Scan1129 Words   |  5 PagesRed Bull’s popularity and status as the number one energy drink in the market reflects the importance allocated to marketing. The company’s hegemony in the energy drink industry is a reflection of their adherence to a multifaceted strategic management plan that considers the imperativeness of environmental factors. As competition increases, companies strive to differentiate themselves through common shared principles to r etain customers. In the case of Red Bull and their annual sales of â€Å"4,204 billionRead MoreRed Bull1644 Words   |  7 PagesWhat is their field of operation? Red Bull operate within the energy drinks sector of the soft drinks market. The product is an example of a functional drink. Functional foods respond to consumer interest in well-being and performance. The major multinational soft drinks companies are investing in the area of functional drinks, developing their own brands and buying up existing ones. This is seen as being important, given that their traditional soft drinks markets are at the maturity stage inRead MoreEnergy Drink Is A Promising Business Niche Essay709 Words   |  3 Pageslectures and revision. Small beverage companies in US are following different marketing strategies to attract potential customers. Many rivals are emerging and coming up with new brands with specific niches. The main success factors of Energy Drinks includes †¢ It generates a new category which is grounded on an innovative product class that is rare and very prosperous in international markets through the adoption of marketing tactics. †¢ One of the biggest advantage of Energy Drinks is that consumers