Red Bull Marketing Strategy - 979 Words

Red Bull Mission Statement: To be the premier marketer and supplier of red bull in Asia,Europe and other parts of the globe. We will achieve this mission by building long-term relationships with the people who can make it become a reality. Marketing Mix Product * ProductRed 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 Bvitamins. Distribution Strategy/Place: * Super market * Gyms * Coffee Houses: Subway, Barista, Costa Coffe, Cafà © Coffee Day * Pizza outlet Needs, Wants and Demands†¦show more content†¦Wants: A want can be defined as ‘the form taken by human needs as they are shaped by culture and individual personality’. Extreme athletes want to accelerate their performance and to revive themselves quickly after each event and this want is satisfied by Red Bull. Red Bull promotes its consumption ‘to increase physical endurance, improve concentration and reaction speed, improve vigilance and stimulate metabolism.’ Demands: Red Bull is arguably one of the most expensive soft drinks on the market, a can of Cokegenerally costs around $2.50 for 375ml whereas a smaller 250ml can of Red Bull is sold at$3.75. 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. Selling Concept/Product Concept/Marketing Concept: Red Bull fits into three of the marketing management philosophies. Selling Concept 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†. Mateschitz used buzz marketing to promote the product by giving consumers free samples. Product Concept: Once Red Bull established itself it then moved into the product concept philosophy. It seems that many consumers buy the Red Bull productShow MoreRelatedMarketing Strategy Of Red Bull952 Words   |  4 Pagesdrinks 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 dominated by premium brands, Red Bull, Monster, and RockstarRead MoreRed Bull Marketing Strategy5299 Words   |  22 PagesBusiness Unit 3 Marketing Of ‘Red bull’ Introduction As part of my marketing assignment, I will be looking at the marketing of a consumer product or service. Therefore, my chosen product is ‘Red bull’, which is an energy drink. I have assumed that my product is targeted at people that have similar situations to the ones used in advertisements for red bull. I will be looking to spot if the strategy used is based on the principles of marketing: Ø Understanding consumer wants: to becomeRead MoreMarketing Research: Red Bull Strategy6213 Words   |  25 PagesExecutive Summary Red Bull is the pioneer in the energy drink category worldwide. Founded in 1984 by Dietrich Mateschitz in Austria, the product was formally launched in 1987. Mateschitz originally became aware of products called â€Å"tonic drinks†, which enjoyed wide popularity in Asia. He brought this effective product in Austria and developed a unique marketing strategy. The drink mainly targets young students and urban professionals. It is exclusively produced in Austria and then distributed aroundRead MoreRed Bull -- Research/Marketing Strategy3028 Words   |  13 PagesCompany Overview Red Bull, founded in 1984 by Deitrich Mateschitz and Chaleo Yoovidhya, is headquartered in Austria. In 2006, Red Bull generated over €2,6 billion (euros) in 2006 throughout the world with the help of its 3,903 employees. The origin of Red Bull dates back to 1962 where the original formula was developed by Chaleo Yoovidhya, a Thai businessman, and sold under the name Krating Daeng by a local pharmaceutical company to treat jetlag and boost energy for truck drivers. TheRead MoreEvent Marketing - the Lessons from Red Bull Strategy1813 Words   |  8 Pagesapproach the next generation of marketing than Red Bull. Focusing their strategy on earned media, cultural integration and value creation, Red Bull’s approach is pioneering, and a template that many brands would love to follow. However it’s also proven a difficult strategy to replicate, specifically because just how different it is from the traditional marketing model. It’s definitely not just about sponsoring a couple of youth events and calling it a day. The scale of Red Bull’s commitment to non-traditionalRead MoreRed Bull Case Study1166 Words   |  5 PagesRED BULL CASE STUDY Q1. How will you characterize Red Bulls overall global marketing strategy? Red Bull has built an image as a trendy energy drink, catering to young adults and young professionals between the age groups of (16-29) years. It also targets young club-goers and private parties in order to spread its picture as a stylish drink. It also believes that it is not just selling a beverage, but instead it is selling a ‘way of life’. Red Bull also uses a catchy slogan as ‘Red Bull givesRead MoreRed Bull1107 Words   |  5 Pagesyou characterize Red Bull’s overall global marketing strategy (global, glocal or local)? Ans 1 – It is my opinion that Red Bull has a global marketing strategy which it implements in all the markets in enters into. Red Bull has built its name as a trendy energy drink, catering to young adults (aged 16-29), young urban professionals and post secondary school students. Also it targets young club-goers and private parties to spread its name as an active and stylish drink. Red Bull believes that itRead 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 enthusiastsRead MoreRed Bull1115 Words   |  5 Pagesyou characterize Red Bull’s overall global marketing strategy (global, glocal or local)? Ans 1 – It is my opinion that Red Bull has a global marketing strategy which it implements in all the markets in enters into. Red Bull has built its name as a trendy energy drink, catering to young adults (aged 16-29), young urban professionals and post secondary school students. Also it targets young club-goers and private parties to spread its name as an active and stylish drink. Red Bull believes that it isRead MoreRed Bull735 Words   |  3 PagesCase: Red Bull Red Bull’s success is a result of a great marketing strategy including product placement and creating brand loyalty. Success is also a result of avoiding marketing myopia. Red Bull accomplished this by claiming to satisfy more than just your thirst. Dietrich Mateschitz took the energy drink concept of Krating Daeng in Thailand and broadened it usage by also marketing Red Bull as a sports drink, functional drink, and nutritious drink. Their success was also stemmed from