Red Bull's Innovative Marketing: Transforming a Humdrum Product into a Happening Brand Abstract: The Red Bull energy drink was launched in Austria in 1987, by Dietrich Mateschitz. He claimed to have experienced the invigorating properties of a popular Thai energy drink, Krating Daeng, on a trip to Thailand. Realizing that a similar product could have good potential in Western markets, Mateschitz obtained the license to manufacture a carbonated version of Krating Daeng from its Thai owners. Obtaining
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0 Mälardalen University MIMA-International Business and Entrepreneurship School of Sustainable Development of Society and Technology EFO705 Master Thesis The 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
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Statement Problem Red Bull GmbH faces many challenges in the functional drink market. RUFTS Marketing Consultancy will take a closer look at these challenges with a particular focus on the SWOT and PESTLE analysis as it pertains to the current market challenges as described in the Bahria University case study. Objective The objective is to provide a clear strategic recommendation to the Red Bull executive committee on the best course of action for the company based on the current market challenges
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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
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Red Bull Case Study 14-10 The critical thinking issue discussed in the chapters is the entrepreneurial skills of the Red Bull’s founder; Mr. Dietrich Mateschitz. Often entrepreneurs create products after carrying out market research where there is existing markets and products. These entrepreneurs develop strategies to compete with already established brands in the market. The strategies can be product variation, cost and price reduction or both. Mateschitz chose a different strategy where he
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Red Bull Case Study 1. Red Bull has always done marketing in an unconventional ways compared to the mainstream. When the company first started in the United States in 1997, Red Bull did their promotions by relying on word-of mouth. They gave away free cans of Red Bull all around the country from their specially made Red Bull vehicles. They also let the negative rumors spread about their company without addressing each, causing more stir around the country about Red Bull. They seemed to embrace
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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
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IntroductionThe Red Bull energy drink was launched in Austrlia in 1987 by Dietrich Mateschitz. Dietrich Mateschitz grew up in a small village in Styria, Austria. After graduating with a degree in world trade he decided to become a “really good marketing man.” Dietrich Mateschitz met up with Chaleo Yoovidhya at the beginning of 1980s and they decided to start an energy drinks together. Realizing that energy drinks product could have good potential in Western markets, Mateschitz obtained the license
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However, Red Bull included other ingredients to achieve a different flavor. (Figure 1: Red Bull Founder- Dietrich Mateschitz) So it was that in 1984, Mateschitz founded the Red Bull GmbH company. He fine-tuned the product, developed a unique marketing concept and started selling Red Bull Energy Drink on the Austrian market in 1987. Red Bull rapidly gained in popularity, giving people wings right from the start. In 1992, Red Bull touched down in its first foreign market, in Hungary. Today, Red Bull
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CASE STUDY OF RED BULL OVERVIEW Dietrich Mateschitz, an Austrian businessman founded red bull in 1984 in Austria. He introduced the drink in Hungary, its first foreign market, in 1992. Red Bull currently is the leading energy drink across the entire globe and holds 42% of the markets share worldwide .Today Red Bull has annual sales of around 4 billion cans in 160 countries including Austria, Germany, United Kingdom, Brazil, Japan, India and South Korea and USA. Their target market is centered on
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