In 2008, the UK Energy and Sport drink market is estimated to be worth £650 million, with growth projected for the future. Red Bull stands as the market leader in not only the UK market, but also worldwide. The market is decidedly young, focusing mainly on the 16 to 24 year old segment. The product itself and its effectiveness is highly subjective, shaped by previous conceptions, brand image and health knowledge. Research has shown that these factors play a role in not just the perception of energy conferred by the product, but also the actual effectiveness.
This study hopes to quantify the multitude of factors shaping the consumer buying and usage process with respect to the product and the market. To analyze this effectively, the study focuses on the consumer perceptions of the energy and sport drink market, which are closely related, the perception of Red Bull with respect to its current competitors and the attitudes and opinions specific to the product.
In order to explore our research objectives, a focus group was conducted utilizing eight respondents, 6 female and 2 male. The group, with respect to age, was firmly rooted in the core demographic of product users. Questioning was guided along the lines of the three research groupings and utilized an open ended style to illicit valuable insight about the product. Data was also gathered with respect to quantifiable values on taste, image and other factors relative to the product and its competition.
Findings were analyzed in the context of three models: Fishbein, Means-end chain and the consumer decision process. Findings illustrated the image of Red Bull as a premium market leader within a product classification that is low involvement and highly contingent on the image and perceived efficacy of the product. Consumer value perception played a lower role than assumed from secondary research, with taste and effectiveness heavily shaping consumer decisions. Within the means-end chain, the product was...
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