In the Hong Kong energy drink industry, Red Bull has several main direct competitors, Paolyta, Libogen and Shark. These products have similar main ingredients, taurine, glucuronolactone and caffeine with Red Bull. Therefore, these competitors provide the same benefit, which is to enhance energy, performance, concentration and speed of response by similar products. In addition, Shark keeps trying to attack Red Bull, by comparing the taste, benefits and usefulness through their advertisements and public relational events. Although Shark is still not very popular in Hong Kong, it should be a great potential threat for Red Bull in the future energy drink market.
Besides the direct competitors, Lucozade, Essence of Chicken and different brands of coffee are the indirect competitors for Red Bull. These products provide the similar benefits with Red Bull and serve the similar types of consumers.
To compete with other brands of energy drinks, Red Bull is putting a large effort in marketing promotion. It becomes a well-known brand by using creative TV advertisements and the catchy slogan. It is successful for Red Bull to differentiate its image from other competitors by promotional campaigns.
Generally, the popularity of energy drink has been greatly increased in recent years. Several big brands are competing for this profitable market. Not only direct competitors are competing with Red Bull, other indirect competitors like Lucozade are also posing a threat. All of the competitors’ products are distributed widely in convenient stores, supermarkets and departmental stores.
Libogen was developed by Taisho Pharmaceutical in 1962 which has a longer history than Red Bull. This product is well-known in the international market but it is not very popular in Hong Kong. Product
The prescription and ingredients of Libogen are quite similar to Red Bull. Both consist of taurine and...