...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 “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 polarizing drink, the marketing plan will take a dual approach of increasing the rate and profitability of sales from existing loyal customers, while addressing the needs of potential new customers who have not recently found their needs met by Red Bull’s current offerings. Situational Analysis A classic SWOT analysis of Red Bull reveals many positive attributes that make the drink a strong product upon which to build a successful marketing campaign, but also show that there are negative aspects of the product that lead to a wealth of opportunities for improvement in marketing and product design. The product’s strengths are numerous, but the primary strength of the product is its strong brand recognition. Because Red Bull was the first energy...
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...BUSINESS RESEARCH METHODOLOGIES RESEARCH ON SMART MARKETING STRATEGY OF RED BULL AND HOW THE COMPANY MAINTAIN ITS LEADING POSITION IN ENERGY DRINK INDUSTRY TABLE OF CONTENTS I. ABSTRACT 4 II. INTRODUCTION 4 III. BACKGROUND OF RED BULL 5 IV. LITERATURE REVIEW……………………………………..….6-7 V. RESEARCH OBJECTIVES…………………………………………8 VI. RESEARCH QUESTIONS……………………………………………………………8 VII. RESEARCH METHODOLOGY…………………………………………………9-12 VIII. ETHICAL CONSIDERATION………………………………...…13 IX. LIMITATIONS……………………………………………………….13 X. CONCLUSION 13 XI. REFERENCE 14-15 I. ABSTRACT The marketing and advertising techniques revolution in the late of 1980s enabled Red Bull to create successfully an “energy drink” market. Today, when the market becomes more and more diverse as well as expanding with over 220 competitors, Red Bull may face to loss in overall global market share. However, Red Bull has reasons to feel optimistic with its strategic business and marketing plans. II. INTRODUCTION The global Functional Drinks market was reported to be worth $26.9 billion in the year of 2008. It is fairly new and continues developing; the market is forecasted to increase by over 64% to reach the value of $44.3 billion, said Datamonitor PLC (2008), cover different categories such as Energy, Nutrition etc. Being regarded as the largest brand in energy drink sector, Red Bull® was holding 29% global market share in 2008 (Datamonitor PLC, 2008) and has been successful...
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...Red Bull is an Austria-based company started in 1987 by Dietrich Mateschitz that sells one product: an energy drink containing taurine (an amino acid) that’s sold in a slim, silver-colored 8.3-ounce can. The drink has been an enormous hit with the company’s target youth segment around the globe. For the year 2001, Red Bull boasted sales of $51 million in the United States alone and captured 70% of the energy-drink market worldwide. From Stanford University in California to the beaches of Australia and Thailand, Red Bull has managed to maintain its hip, cool image, with virtually no mass-market advertising. However, today, due to certain health issues and the growth in competitors in the market, several doubts and issues have come across for Red Bull such as Whether Red Bull is able to maintain its lead and its point of differences or the brand may simply lost its edge and become “slate”, Whether the concern of health and bloggers might have a huge negative impact on Red Bull, Whether Red Bull’s target audience move on as it ages is an issue due to its limited product line, and so on. The matter of maintain a company lead in the market is always present as same as for its point of differences in products. In the case of Red Bull, according to recent records of energy drinks product companies in 2015, Red Bull owned 60% to 70% market shares which means globally Red Bull is one of top brands, establishing over 167 countries with approximately 5 million cans selling per year in...
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...RED BULL RED BULL LITTLE STORY: Red Bull is an energy drink sold by the Austrian Red Bull Company. It was created in 1987 by the Austrian entrepreneur Dietrich Mateschitz and on market share, Red Bull is the most popular energy drink in the world. Dietrich Mateschitz was inspired by an already existing drink called Krating Daeng which he discovered in Thailand. He took this idea, and to suit the tastes of Westerners, modified the ingredients, and founded Austrian Red Bull. The first marketing plan was to sponsor extreme sports such as mountain biking, snowboarding, while advertising the drink as a performance enhancing energy booster. With the drink gaining popularity in Austria, it was launched in Germany in 1994. The international roll out came in 1997, with expansion to North America, South America and Australia. There are 2 types of energy drinks under Red Bull. One is Red Bull Energy Drink and the other is Red Bull Sugar Free. In addition to the energy drinks, the company offers Red Bull Cola, which is marketed as a strong and natural soda with no phosphoric acid, preservatives or artificial flavors. According to Red Bull's website, all ingredients are synthetically made by pharmaceutical companies to guarantee the highest quality. Red Bull Energy Drink works best when you are experiencing a lack of energy or concentration. It is to be used 30 minutes before a boost of energy or concentration is needed. This is designed to give the drink time to become effective...
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...Contents Stakeholders Analysis 2 Customers 2 Competitors 2 Company 2 Red Bull's key internal stakeholders 2 Red Bull's Strengths and Weaknesses 3 Red Bull's brand appearance, personality and reputation 3 Community 3 Marketing Mix 3 Product 4 Price 4 Place 4 Promotion 4 Positioning 5 Bibliography 6 Reference Material 6 Internet Resources 6 Appendix 7 Stakeholders Analysis Customers Athletes – Red Bull is targeted at athletes serious about their sport and personal performance. Red Bull increases athletes performance, concentration and reaction speed. A good example of Red Bulls support of athletes can be seen with the many extreme and high adrenaline events they are sponsoring, such as the F1 Grand Prix, Moto GP, NASCAR, and FIS Ski Championships. Red Bulls support of athletes shows in their slogan of when to drink Red Bull. “Sport is Red Bull’s natural grazing ground. Whenever athletes are in need of wings you can find Red Bull” (Red Bull, 2011) Students – Red Bull is targeted at students looking to gain that additional performance during challenging days in the auditorium. Red Bull increases students’ concentration, improves vigilance, and stimulates metabolism. Students find these qualities appealing and useful when studying hard or playing harder with fellow students and friends. Competitors Red Bull’s main competitors are Monster and Rockstar. All three are market leaders in the energy drinks market, differentiating themselves with taste...
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...Introduction The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students. Red Bull’s marketing strategy is one of the key factors in their success, they created Mobile Energy Team that consists primarily of young university students driving around in specially designed Mini Coopers with large Red Bull cans on top to attract the younger audience. The students are Red Bull’s team out in the field that attend different events and provide sampling of the energy drink. Oftentimes, the Red Bull representatives host parties with cases of Red Bull. These representatives collect data from these parties and send it back to the company as a form of low cost market research. In 2010 Red Bull had 7,758 employees of which 5,000 were university students. Red Bull is also known globally for hosting extreme sporting events and sponsoring some 500 athletes. Over the years they have acquired four soccer teams, a Nascar team, and two Formula...
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...Red Bull Gives You Wings: Red Bull’s promotional efforts are unique in a variety of ways when compared to it’s mainstream competitors. Instead of promoting the quality of Red Bull’s taste, they emphasized the effect it had on the drinker such as “increased performance, concentration, reaction time, speed, vigilance, and emotional status” (428). The company gained brand recognition by giving away free samples from a fleet of “logo-bearing off roaders” operated by young attractive operators and word of mouth (429). The company also agreed not to say anything in response to the rumors that flourished about the product ingredient taurine which was said to be a derivative of bull testicles or even bull semen. Instead of trying to put out the rumors, Red Bull used them to their advantage. It attracted attention and increased customer’s interest. Compared to other products such as Coca Cola and Pepsi, Red Bull never focused its advertising on TV commercials. Instead, the goal was to create an experience around the product. Red Bull founder, Dietrich Mateschitz, wanted the brand to hit young people right in the face in a way that they experienced Red Bull to the fullest. They sponsor and promote sporting events and athletes, and even musical events. They also create original programming on their YouTube channel and even have their own music and entertainment production company. Promoting Red Bull through these unique methods helped Red Bull catch the eyes of consumers and established...
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... Afsana Zaman . ID# MD.Niaz Morshed. ID#123051039 Date Of Submission Index Particulars | Page No. | Objective, Methodology, Scope | 3 | Executive Summery | 4 | MNE, Red bull Strategy | 5 | Foreign Direct Investment in Bangladesh | 6 | Key Factors for Red Bull’s Market Strategy in Bangladesh:(Challangeges) | 7-9 | Investment Climate | 10-13 | Reference | 14 | Objective · To Analyze the Global strategy of Red Bulls’s to enter in Bangladesh · To identify the position of Red Bulls’s in the consumers mind relative to its competitors. · To recognize how Red Bulls’s can compete with other brands · Analyze the branding strategy of Red Bulls’s · Identify the legal issue · Analyze the international challenge · To make recommendations, how Red Bulls\s can improve their market position Methodology · In preparing the report most of the data obtained through primary sources. A key informant interview was conducted of secondary data · We find important information regarding global strategy international strategy website and magazines served secondary sources of information. Scope We are going to cover what is the...
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...RED BULL La empresa Red Bull tiene el eslogan „Red Bull te da alas“, y el producto es conocido a través publicidad, eventos, propiedades de equipos de los deportes diferentes y también la música con la marca Red Bull Records. FODA Fortalezas Red Bull es la bebida energética más popular en el mundo y es el líder en su categoría. Ha establecido una marca con un imagen muy fuerte y consistente al nivel mundial. Representa una específica subcultura de borde aún así está siendo consumido por una variedad de demográficos. Tiene tres diferentes versiones – Regular, SugarFree y Cola. Su estrategia de marketing ha llevando a cabo de las actividades de promoción a través de deportes extremos y lo ha ayudado a la marca a construir una identidad fuerte y a aumentar la conciencia y la lealtad del consumidor. Red Bull tiene una amplia presencia geográfica, lo debería asegurar un crecimiento positivo en largo plazo, aunque algunos mercados alcanzan la madurez. Opportunidades El desarrollo de los mercados da nuevas posibilidades geográficas para la expansión de Red Bull en otros países y por eso la compañía tiene mucho sentido de desarrollar la estrategia de marketing y patrocinio rápidamente. Nuevas lugares de producción en los países en desarrollo hacen el precio de venta al por menor más competitivo. Quizás la empresa podría considerar la construción de plantas de producctión en Asia. Si Red Bull empezaría a ofertar nuevos sabores los podrían ayudar a mejorar los cuotas...
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...internationalization process of Red Bull from the perspectives of global expansion Group 2263: Karakawat Sarasalin 830117 Thitiporn Watthanachai 831031 Supervisor: Jean-Charles Languilaire 23rd November 2009 1 Abstract Date: 23rd November, 2009 Level: Master Thesis in International Business and Entrepreneurship (EFO705), 15 credits Authors: Karakawat Sarasalin (830117-T255) Thitiporn Watthanachai (831031-T124) ksn08001@student.mdh.se twi08001@student.mdh.se Title: The internationalization process of Red Bull from the perspectives of global expansion Supervisor: Jean-Charles Languilaire Problem Statement: How did RED BULL manage to be as an important central international market player? Purpose: The purpose of this research is to describe the internationalization process of Red Bull; how Red Bull created, sustained and developed? Method: We mainly use secondary data and the qualitative data. Qualitative data in the form of interview questions through e-mailing. But we also use quantitative method based on documental research from books and internet. Conclusion: Red Bull does not follow the standard pattern of establishment chain presented in the Uppsala model. Its establishment chain is composed of three stages: licensing ,wholly owned sales subsidiaries and jointed venture. Red Bull has developed strong market within the beverage industry network and strong bonds with its external suppliers. The expansion decisions of Red Bull have been influenced...
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...RED BULL IN INDIA The case has been written by Prof. Rishabha Nayyar, Director, Genesis Institute of Business Management (GIBM) for the purpose of an in-class discussion. The content and data is fictitious and has no relevance whatsoever to any existing brand in the market. The case attempts to drive understanding / application of the marketing concept. Rakesh Singh was sitting in his office waiting for the Board of Directors to call him to the conference room. Rakesh has been appointed a year ago as the CEO of Red Bull India Ltd. and had been given the responsibility of growing the brand. However, a year had passed and the results were not there for showing. Rakesh was carefully looking at everything in his office being very sure that this was probably the last time he would ever see it again! Background Red Bull is a highly successful branding story. The brand came into existence in 1984. The brand was created by an Austrian professional turned businessman Mr Dietrich Mateschitz. The story goes like this -The original inventor of Red Bull energy drink is said to be Chaleo Voovidhya, a Thai businessman. In 1962 he created a drink named Krating Daeng (meaning Red Bull in Thai). In 1982 when Mr Dietrich visited Thailand, he came across this product which helped him to tide over the jetlag very quickly. Impressed by the product efficacy, Dietrich decided to take this product to Europe. He started Red Bull Gmbh with equity participation from Chaleo Voovidhya. By the year 1987...
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...Background of Key Problem The success of Red Bull majorly lies behind their unique marketing strategy which is usually called guerilla marketing, buzz marketing or in simpler words, marketing based completely on Below-the-line activities, word of mouth, endorsements etc. This unconventional marketing has been applied in Pakistan also where instead of executing Above-the-line promotions (which usually work very well in Pakistan and communicate to a larger audience), they have stuck to their unusual styles of marketing and have up till now sustained their position. But whether or not these unconventional strategies can carry on being effective with competitors like Sting and Speed emerging and keeping in mind the behaviors of the Pakistani consumers, is yet to be answered. The difference of Red Bull customers outside Pakistan and Pakistani consumers is vast and hence those extreme sports, club partying do not entirely relate to them. This needs to be addressed any marketing activities should be planned keeping in mind the different nature of the Pakistani consumer who are usually more susceptible to what they see on television, print and radio. The emergence of competitors like Sting and Speed means that Red Bull can now face a problem if they do not start extensive marketing campaign through not just BTL but also ATL methods too, just like its competitors are currently doing. If Red Bull remains in myopia, its downfall may soon be inevitable at the hands of big brands like Sting...
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...------------------------------------------------- Red Bull Vodka ------------------------------------------------- Developing Products and Promotion Strategy Farhan Shah Ramlan (2168102) Abstract MK3UWA: New Product or Service Marketing Plan Introduction Red Bull Gives You Wings Being a market leader in the market of energy drinks and being in the mature stage of the their product life cycle, RedBull constantly comes up with new ideas and strategies to stay at the top of the consumer business among its competitors. By having a variety of types of drinks to cater to different segments of the market, RedBull has introduced various editions of the internationally-renowned energy drink to cater to different segments of the market, such as Red Bull Cola for teenagers, Red Bull Zero Calorie & SugarFree for the health conscious, and flavored Red Bull Cranberry, Lime and Blueberry to meet the wants of the consumers who seek variety. With the introduction of a new addition to the existing product line around the 2014 FIFA World Cup, a major sporting event and a worldwide phenomenon that is watched by millions around the globe at the stadium or at their local pubs or even on the television in their homes. Red Bull aims to increase brand awareness by associating the brand name to the event and increase market share by developing a unique selling point/product differentiation in order to obtain some of the competitors’ regular consumers. The introduction of this new...
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...Executive summary Introduction In 1984 Mateschitz founded Red Bull. Red Bull Energy Drink was first sold on the Austrian market in 1987. Red Bull reached its first foreign markets in 1989 in Singapore and in 1992 in Hungary. In 2008 Red Bull created its own cola, Red Bull Simply Cola. It created a market segment unlike traditional colas, by using only 100% natural ingredients. In 2009, Red Bull extended its product line with Red Bull Energy Shots. Red Bull headquarters are based in Fuschl am See, near Salzburg Austria. Approximately 4 billion cans of Red Bull are consumed each year; the product is available in 160 countries. Red Bull is the leader of the energy drink market and performs an annual turnover of more than 3 billion Euros. As we will see in this report, polemics, nonconformist, genius marketing are, among others, the ingredients that made Red Bull the star product of Energy Drink Segment in the world. For more than 20 years, Red Bull has managed to establish itself brilliantly in the world, which, despite the widespread economic gloom, has always taken a growing interest for this drink. In this report, we will analyse Red Bull and the environment in which the company evolves, its target and positioning trough marketing tools. It will enable us to understand how Red Bull managed to reach its leader position and to think about some recommendations to further improve its strategy. The Product Red Bull is a lightly carbonated drink that enhances mental and physical...
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...assess the company Red Bull and their energy drink Red Bull Energy Drink, in a manner in which the market/industry, environment, competitors, customers, and the brand were all analysed by using secondary research. A SWOT analysis was also conducted. Through this research and analysing, it was found that Red Bull is the dominating leader in the energy drink market and sells the most units of its product worldwide. However the company does have close competitors in Monster Energy Drink and Rock star Energy Drink. Although Red Bull has massive internal strengths in being leader in the market share and sponsorship of events, it also has weaknesses in lack of innovation and diversity. Their opportunities however, could be to extend the product line or team up with another company such as Smirnoff. The threats present to Red Bull are the unhealthy image associated to it by society and health critics and the rising competitors. Despite all these possible setbacks Red Bull continues to be the number one seller of energy drinks worldwide. Introduction 1.1 Give a general introduction to the assignment The aim of this report is to analyse the product Red Bull Energy Drink produced by the company Red Bull, and apply theoretical concepts to the energy drink product category, including analysing information relevant to the industry, environment, competitors, customers and brand of Red Bull all done through secondary research. 1.2 Describe your product The Red Bull Energy Drink is a...
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