Individual Marketing Plan
14 December 2012
Red Bull has been known for its original energy drink, their target market being college students and young adults. They have a product style that is well known and a taste that is loved by many. Although this is the case, they have come out with other flavors of their energy drink, to aim more towards the young adult females of their target market. Against Red Bulls competitors who have had various flavors and varieties out such as Monster, Rock Star, and AMP who have already had various flavors out to suit the needs of various consumers.
Red Bull is a little behind on this; they have 3 other flavors but are still only marketing it in the larger cities. The competitors have had it out and in stores all over for a while now. The goal is for Red Bull to bring their 3 other flavors out to be purchased by a larger consumer base in more than just large cities. SWOT Analysis
Red Bull is considered the leader of the energy drink market in the world with a 70% of the market share in 2012. Red Bull is a product that everyone at least knows something about. Either they have tried the drink or they have heard of it and know what it is. A reason that Red Bull is well known is all the sponsorships that they do. They sponsor many sports, many athletes, and many athletic events. Weaknesses
Although Red Bull is well known they are lacking in variety. Red Bulls competitors have had other varieties out that open their products to other consumers. Red Bull has a distinct flavor that only some people may like, whereas their competitors have many other flavors that may be more enjoyable to woman consumers. Opportunities
Red Bull has opportunities that they can get their new product out into a larger market. Rather than just keeping their 3 flavors to selling them in the larger cities they can start selling them at their events or slowly integrate...