...Marketing Principles Task 3 LO2.2 Propose segmentation criteria to be used from products in different market Market segmentation Market segmentation involves grouping the various customers into segments that have common needs or will respond similarly to a marketing action. Each segment will respond to a different marketing mix strategy, with each offering alternate growth and profit opportunities. Some different ways you can segment your market include the following; Demographics which focuses on the characteristics of the customer. For example age, gender, income bracket, education, job and cultural background. From what have been observed, most Redbull consumers are male aged in the range of 14 to 50. Not concerning their income range, education level, job status or positioning and their cultural background. Psychographics which refers to the customer group's lifestyle. For example, their social class, lifestyle, personality, opinions, and attitudes. Redbull product is an energetic drinks that provides energy to the consumers. Therefore, the targeted consumer group is who are doing sports activities or whose work responsibility requires them to work on site exposed to the sun. Behaviour which is based on customer behaviour. For example, online shoppers, shopping centre customers, brand preference and prior purchases. Geographical location such as continent, country, state, province, city or rural that the customer group resides. The energy drink...
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...massive market of United Kingdom. Goals To capture maximum market share in the energy drink category in the least given time and earn customer loyalty with a repetitive positive brand re-call value. Solution Launch the product nation wide with a huge marketing strategy but at the same time keeping the values of budget and establishing a brand re-call value. Project Outline The following document has been prepared for the International Marketing course. It focuses on introducing a new product into the market of the United Kingdom. The product is the GRAVITY energy drink. This drink directly competes with RedBull and Lucozade. In the very beginning, I have mentioned both the vision and the mission statement. The product will be introduced into the market soon and the marketing strategies have been prepared for it to penetrate into this massively established market with established players. The document isGRAVITY ENERGY DRINK GRAVITY ENERGY DRINK divided into various parts as it explains about the product and the market respective to the present scenario. It focuses on the marketing mix, the strengths and the weakness, the entry mode, the distribution channel, marketing strategy, product positioning, positioning strategy and mentions in brief about the evaluation about the market. It also mentions step wise launch programme. I have paid special attention towards the packaging and the identity since this is the primary source of interaction between the product and the customer...
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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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...Table of Contents Page 1: Title Page, Table of contents Page 2: Introduction Page 3: 4 P’s Marketing Mix: Product Page 4: 4 P’s Marketing Mix: Price Page 5: 4 P’s Marketing Mix: Place Page 6: 4 P’s Marketing Mix: Promotion Page 7: Works Cited Introduction Red Bull is one of the biggest energy drink successes, created in 1987 by Austrian company Red Bull GmbH. The slim blue silver can has developed a following among those who claim that it helps them with virtually everything to work better and play better. Red Bull is sold in over 165 countries globally. In terms of market share, Red Bull is the most popular energy drink in the world, with 5.2 billion cans sold in 2012. Over the years, the drink has been copied by more than 100 rivals, but such companies as Anheuser-Busch and Coca-Cola have been unable to take market share away from Red Bull. In 1982, Dietrich Mateschitz, the founder of Red Bull became aware of products called “tonic drinks” which enjoyed extensive popularity in Thailand. He took this idea, modified the ingredients to suit the tastes of westerners, and, in partnership with Chaleo Yoovidhya, founded Red Bull GmbH in Austria. Energy drinks containing taurine, glucuronolactone, caffeine and important vitamins and carbohydrates are claimed to help with physical endurance, improved reaction, speed and concentration and a feeling of well being. In the present days more than a billion cans of Red Bull are consumed each year around the world...
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...production, the caps on its bottled mineral water can be sealed only on nights when the moon is full in the sky. This is the kind of behaviour that could infuriate shareholders of a publicly listed company. Mr Mateschitz is unambiguous about the likelihood of Red Bull appearing on the stock market in the future, however. “Never. Thanks to our financial philosophy, we are not and never have been in need of additional capital, nor does anybody want to cash in. If we were to go public, the company would lose all of its benefits and in turn we would be left with numerous disadvantages,” he says. http://www.ft.com/cms/s/0/8733b030-de30-11e0-9fb7-00144feabdc0.html#axzz1nQrxHXt1 Some observers say that Red Bull's branding is revolutionary, calling it an 'anti-brand' strategy. The company faced additional problems in Pakistan where there were already many established drinks available. The firm avoided usual methods of marketing, relying more on what is called 'buzz marketing' or word-of-mouth. A brand image was created and cultivated which associated the drink with youth culture and extreme and adventure-related sports, such as motor sports, mountain biking, snowboarding and dance music parties. In other countries...
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... 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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...energy drinks will likely see a sturdy development from a mere 78% in 2014 to around 85% by the end of this decade. Red bull is stated to be one of the leading energy drink producers in the world (Mourdoukoutas, 2014). The company states to have 9694 employees in around 166 countries worldwide with a total sale of 5.3 billion cans just alone in 2013 (RedBull, 2014). Moreover, the brand stated to “give you wings” is identified to be one of the most successful energy drink companies in the world (Mourdoukoutas, 2014). Furthermore, the success of Red Bull brand led to the creation of an entirely new category of the energy drink in the food and beverage market of the world. This essay will look to critically analyse the strategies used by Red Bull and argue to what extent the differentiation strategy has aided the company in gaining competitive advantage. Furthermore, it will examine the company’s environment will also look to explore the positioning of the brand in the market. Additionally, it will analyse its route to gaining competitive advantage. Finally, it will assess how successful the company has been in implementing their strategies. Kotler (1984) cited in Gilbert and Kapur (1990) defines strategic marketing as the process through which a company can look to establish and manage an applicable accord between the environmental opportunities, resources and the objectives of the organisation. Iyanabo and Otubanji (2013) further state that the process consists...
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...founded in Austria in 1987 and then went international in 1992 with its introduction into Hungary (“Red Bull SWOT Analysis”). Today, Red Bull sells more than 4 billion cans of energy drinks each year in more than 160 countries (Kotler & Keller, 2012). Red Bull’s success over the past ~20 years can be attributed to the company’s ability to highlight its strengths and minimize its weakness. Understanding these strengths and weaknesses are important for Red Bull to maintain its current position as the market leader. In addition to being the current market leader, Red Bull’s strengths include its marketing strategy and its alliances with distributors. Red Bull’s marketing strategy is vastly different from other companies in the beverage industry. Rather than employing traditional marketing techniques, Red Bull has adopted “anti-branding” and “anti-marketing” strategies. They have used no print, billboards, banner ads, or Super Bowl spots, and minimal television ads. Instead they focus on viral marketing based on word of mouth and a “seeding program” focused on getting Red Bull products into trendy shops, clubs, and bars (Kotler & Keller, 2012). They also target opinion leaders by providing free samples in efforts to generate additional buzz about their products. Free Red Bull products are available at “sports competitions, in limos before award shows, and at exclusive after-parties” (Kotler & Keller, 2012). This is perfectly illustrated by the number of paparazzi photos...
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...powerful effect on reducing his jetlag post travel to the Far East. Mateschitz had experienced nothing as effective in the Western market and saw huge potential for a more palatable version amongst the Westerners, who needed more than one of the few existing sports energy drinks to help relieve them of the symptoms of a busy lifestyle. In 2006 it was recorded that more than three million Red Bull’s were consumed worldwide! (Simpson J & B Dore, 2008). So who is it that consumes these drinks? Red Bull is targeted at three main groups of people: the sporty, the party-animals, and the workers, each seeking the benefits of endurance that Red Bull provides in their individual disciplines. With a funky can design and an extreme promotional strategy, Red Bull has been...
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...SWOT analysis……………………………………………………………………………………………………….………42 10.PESTEL analysis……………………………………………………………………………………………………..…….43 11.Supply and distribution of red bull………………………………………………………………………….…….45 12.Red bull in news…………………………………………………………………………………………………………....46 13.Reccomendations…………………………………………………………………………………………………………. 50 References Exhibit(survey questions)………………………………………………………………………………………………….53 2 INTRODUCTION TO BRAND AUDIT A brand audit is a thorough examination of a brand’s current position in an industry compared to its competitors and the examination of its effectiveness. When it comes to brand auditing, five questions should be carefully examined and assessed. These five questions are how well the business’ current brand strategy is working, what are the company’s established resource strengths and weaknesses, what are its external opportunities and threats, how competitive are the business’ prices and costs, how strong is the business’ competitive position in comparison to its competitors, and what strategic issues are facing the business. Generally, when a business is conducting a...
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...and art, all aimed squarely at the youth market (Dahlen, Lange and Smith, 2010). This brief examines brand development, which strategies have helped it to success and where the brand goes from here as it faces the prospect of losing its cuttingedge image while continuing largely with only one product. Red Bull is a European success story. The product was launched in 1987 in Austria. It faced opposition from the Food and Drink Administration (FDA), who refused to clear it for distribution but despite this it became an underground success through clubbers and snowboarders. This anti-establishment stance found synergy with consumers, even after it was cleared for sale. It quickly spread into neighbouring countries and into the US market (Franzen and Moriarty, 2009). Dahlen, Lange and Smith (2010) note that by 2004, it had gained 40% share of its market sector and 70% in Europe. However, the brand still faced problems; it was banned in Denmark and France following unsubstantiated rumours that people had died from drinking the product in Sweden and Ireland (Mail Online, 2001). The European market was stagnating, and it faced distribution problems from companies supporting their own-brand products. The ever-present competition from Pepsi and Coca-Cola limited the scope for expansion. With these pressures, the company developed a marketing strategy that avoided mainstream advertising, instead focusing on grass-roots promotion. The product was sold in trendy nightclubs and ...
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...COOPER: MARKETING STRATEGY, DIGITAL MARKETING, BRAND & ETHICS 10.2478/cris-2013-0005 MINI COOPER: MARKETING STRATEGY, DIGITAL MARKETING, BRAND & ETHICS MARIIA MOISEIEVA The report is designed to examine, analyse, and evaluate where appropriately the current Mini Cooper’s marketing strategy, its digital marketing initiative, branding, and the importance of ethical values in Mini Cooper as well as other organisations. That is important for understanding of the practical applications of marketing is achieved by applying theory to them. It is determined that Mini’s marketing strategy has shifted in terms of targeting and brand positioning. As previously it was an affordable iconic British car, now it has become a cool luxury car dominantly for a young segment. Its international marketing strategy is differentiated in a way that a brand is built up on the historical iconic image of Mini for the UK and associated market, but it is not associated with any values in the past for the US customers. Overall, Mini’s marketing strategy is considered to be innovative, creative, and sometimes ‘silly’, which is of great value for its young energetic target audience. Digital marketing initiative also corresponds to the latest IT and social trends worldwide by ‘digitalising’ marketing initiatives and active social networking with the consumers. Brand is a core competence and ‘everything’ for Mini. Marketing is centered on its brand, not vice versa. An analysis of the Mini’s strategy shows that...
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...A Report on Supply Chain Management System of Agora Acknowledgement The success of this report depends on the contribution of number of people specially my group members who have shared their thoughtful guidance and suggestions to complete this report First; we express our sincere gratitude to our honorable course teacher Mr. Mahabubur Rahman for his valuable contribution to the preparation of this report. He has been gracious enough to spare time out from his busy schedule for giving us all the necessary assistance throughout the entire period of the report writing time. Without his valuable suggestion and help this report might not have been a comprehensive one. We would like to give special thanks to Mr. Harunur Rashid, Head of finance & accounts of Agora for giving us time from their very busy office work to discuss the things & have guided us by giving useful suggestions and providing us data and relevant information for completing this report. We would also like to thank Mr. Bajan saha, accounts manager of Agora for giving us some important information about the official procedure and inspiration techniques of Agora to complete this report. They shared their practical experiences and talk about their loyalty and commitment towards the organization. .All of our group members supported each other, throughout the making of this report and completing it successfully. We have done some group discussions, where we shared each other‘s views on the different...
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...Djuice was first introduced in Bangladesh and then to Pakistan. It has since grown to become one of the largest Youth mobile brands in Pakistan. Since Pakistan has more than 50% population between the ages of 12 to 20, the youth market is very important for telecom sector. This is the reason why Telenor and its competitors Mobilink, Ufone and Warid have their own youth targeted brands like Jazz Octane, Warid GLOW and Ufone Youth Package. Marketing Strategy Over the last decade the telecom sector has matured and become very competitive. That is why even market leaders like Telenor can not adopt defensive strategies against its competitors. Recently Djuice has has dropped to second place after Ufone launched its Youth Brand. Now Telenor has a marketing strategy based on customized service provision. This is because the youth market is much more rationale in making decisions and since the target market is so wide a tailor made service is better than a more rigid offer. Understanding its consumers, Djuice aggressively markets its GPRS and SMS bundles. All the recent campaigns emphasize fun. Even Djuice’s tag line goes like ‘Djuice it’s fun to be young’. Djuice has always tried to grab the attention of the young generation through coming up with surprisingly cheap and innovative offers. The Marketing Mixture Telenor’s Djuice, since is the market leader in the market that it caters, the blend of marketing mix it possesses is quite interesting. Product As said earlier, youth...
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...Marketing Management By Philip, Kevin Lane Keller, Abraham Koshy, Mithileshwar Jha logo copy.tif SUMMARY by Chapter 1 Understanding Marketing Management Marketing is an essential art and science that is engaged in a vast number of activities by both persons and organizations. It has become an increasingly vital ingredient in the success of a business. Good marketing is the result of careful planning and execution. There are two sides to marketing – the formulated side and the creative side. It is important to lay the foundation in marketing concepts, tools, frameworks and issues of the formulated side while at the same time instil the real creativity and passion for marketing, as we shall come to see in this chapter. Social Definition of Marketing Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and freely exchanging products and services of value with others. Marketing is increasingly becoming an important function in all organizations to ensure that demand for a product or service persists along with customer retention. Scope of Marketing A good marketer must be able to answer the following questions: What is Marketing? The formal definition of marketing is, Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationship in ways that benefit the organization and its stakeholders...
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