Assignment
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 in creating energy drink and established the brand as the market pioneer in this segment since it launched the drink. In order to maintain a competitive advantage because of the intense competitive domestic markets from not only local companies but also foreign firms, many companies are left with little choice but to find out new markets by going worldwide for the growth, development and profit. This proposal is going to focus on the Energy Drink segment and Red Bull in particular to
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 in creating energy drink and established the brand as the market pioneer in this segment since it launched the drink. In order to maintain a competitive advantage because of the intense competitive domestic markets from not only local companies but also foreign firms, many companies are left with little choice but to find out new markets by going worldwide for the growth, development and profit. This proposal is going to focus on the Energy Drink segment and Red Bull in particular to
References: 1. Armstrong, J. Scott (1982), “Marketing, Strategic Planning and the Theory of the Firm”, Journal of Marketing, 46 (Spring), 15-26. 2. Datamonitor PLC (2008) Global Functional Drinks Industry Profile, Available from: http://mybu.bournemouth.ac.uk/webapps/portal/frameset.jsp?tab_id=_111_1 [ Accessed on 10 February 2013] 3. Drummond, G. and Ensor, J. (2001), Strategic Marketing, planning and control, 2nd Edition, Butterworth Heinemann. 4 5. Gschwandtner, G. (2004). The Powerful Sales Strategy Behind RedBull, Selling Power Magazine, Available from: http://www.redbull.com/images/historysection/pdf/1/Selling_Power_DM_Sept.pdf [Accessed on 11 February 2013] 6 8. Lewis P., Saunders M, and Thornhill A (2007), Research methods for business students. Pitman Publishing. 9. Miles M., Huberman A., (2001) “Qualitative data analysis: an expanded sourcebook”, 2nd, SAGE. 10. Moosa, S.M., (2002) Wellbeing A cross category approach to nutrition, health and beauty. Red Bull GmbH, 132-135. Available from: http://www.globalbusinessinsights.com/content/rbcg0055t.pdf [Accessed on 10 February 2013] 11 12. Ranchhod A., Gauzente C., Tinson J., (2004), “Marketing strategies: a twenty-first century approach”, p.2, Pearson Education. 13. Revolutionmagazine (2009) Smart guide to Red Bull, Haymarket business Publications Ltd. Available from: https://mybu.bournemouth.ac.uk/webapps/portal/frameset.jsp?tab_id=_111_1 [Accessed on 10 February 2013] 14 15. Silk A. J., (2006), “What is Marketing”, p.3, Harvard Business School Press, USA. 16