“Red Bull isn’t a drink, it’s a way of life”- an off the radar subculture; very appropriately put across through the company’s slogan “It gives you wings”. In order to face the challenges and grow in the future, Red Bull should mainly concentrate on using the following strategies: - 1. INCREASE CONSUMPTION LEVELS: Highest consumption rate was in Ireland, which had been 11 cans per person, and if the same is achieved in USA then Red Bull can achieve additional annual sales of 2 billion cans in the US market alone. 2. USE DISTRIBUTION STRENGTH AND NETWORKS: To further grow as a maturing brand Red Bull can use its brand muscle to drive further strengthen distribution networks. 3. BRAND AMBASSADOR: Many products are associated to its brand ambassadors and Red Bull being positioned as a brand associated with danger can rope in people known to be involved in risky sports to represent the brand. 4. PRODUCT DEALS: Red Bull can tie up with various products like Smirnoff, Grey Goose, etc. so as to provide free red bull drinks with such alcoholic drinks as it is known to be of good taste. 5.
OFFERS +PRIVATE PASSES +MERCHANDISE: Red Bull can increase its sales by giving various offers to customer (to attract F1 lovers and fans of Red Bull racing team) for eg. On purchasing a certain number of red bull cans, the customer can win free red bull team merchandise, passes to watch an F1 race or even a chance to meet and interact with red bull team’s drivers and view the race in a VIP room. 6. PARTIES: Redemption of a ticket for certain number of cans that enables a person exclusive access into VIP parties or free drinks or free entry to the ticket holder. (This can be done by tying up with a certain clubs in and around town) 7. OFFERS TO RETAILERS (To keep interests of retailers): Retailers can be given various offers on selling a certain number of cans of Red Bull. 8. NEW PRODUCTS AND PACKAGING: Red Bull should bring in new flavors to add to its...
Please join StudyMode to read the full document