Red Bull Case Analysis
Red Bull Case Analysis
Purpose: to provide the chain of strategies Red Bull used to develop their brand equity and global market dominance in the energy beverage industry.
Target Market: Red Bull does not target to a specific demographic or psychographic. Its strategy is to reach to a relatively broad consumer base. The target is anyone who need energy boost to combat their mental and/or physical fatigue. Red Bull knows their consumer base mostly involves students, drivers, clubbers, business professionals and athletes.
Marketing Mix:
Product: Red Bull offers a premium energy drink supplement that provides essential ingredients to rejuvenate the mind and body. Red Bull consists of energy-enhancing ingredients: caffeine, taurine, and glucuronolactone packed in a 250 millilitre can.
Price: Red Bull prices one 250 millilitre can at a premium price between $1.99 and $3.00 which makes it significantly more expensive than traditional soft drinks. Their pricing strategy is to charge at least 10 % greater than the most expensive competitor reinforce their position.
Promotion: Red Bull relies on one of the most effective forms of marketing, “word-of-mouth”. Along with the word-of-mouth strategy they also do event sponsorships, sampling programs, point-of-purchase marketing, athletic endorsements, and electronic media buys.
Red Bull Mystic: When the product first lunch Red Bull created a buzz by putting empty cans in bars and night club to make the consumers believe that it was a popular product. As a result the consumers started talking about and want to try it out of curiosity.
Event Sponsorships: Event sponsorships greatly increase the recognition of the brand. Red Bull currently has ninety individual events that have been created from the ground up. Most of the events are non-mainstream sports events that are typically extreme sports. Red Bull invests in doing their own events because they control everything and strive to make the event very
Purpose: to provide the chain of strategies Red Bull used to develop their brand equity and global market dominance in the energy beverage industry.
Target Market: Red Bull does not target to a specific demographic or psychographic. Its strategy is to reach to a relatively broad consumer base. The target is anyone who need energy boost to combat their mental and/or physical fatigue. Red Bull knows their consumer base mostly involves students, drivers, clubbers, business professionals and athletes.
Marketing Mix:
Product: Red Bull offers a premium energy drink supplement that provides essential ingredients to rejuvenate the mind and body. Red Bull consists of energy-enhancing ingredients: caffeine, taurine, and glucuronolactone packed in a 250 millilitre can.
Price: Red Bull prices one 250 millilitre can at a premium price between $1.99 and $3.00 which makes it significantly more expensive than traditional soft drinks. Their pricing strategy is to charge at least 10 % greater than the most expensive competitor reinforce their position.
Promotion: Red Bull relies on one of the most effective forms of marketing, “word-of-mouth”. Along with the word-of-mouth strategy they also do event sponsorships, sampling programs, point-of-purchase marketing, athletic endorsements, and electronic media buys.
Red Bull Mystic: When the product first lunch Red Bull created a buzz by putting empty cans in bars and night club to make the consumers believe that it was a popular product. As a result the consumers started talking about and want to try it out of curiosity.
Event Sponsorships: Event sponsorships greatly increase the recognition of the brand. Red Bull currently has ninety individual events that have been created from the ground up. Most of the events are non-mainstream sports events that are typically extreme sports. Red Bull invests in doing their own events because they control everything and strive to make the event very