Red Bull Marketing Strategy

Topics: Red Bull, Marketing, Energy drink Pages: 19 (3251 words) Published: May 14, 2014


National University
School of Professional Studies

MKT 302A
Marketing Fundamentals

Final project based on the marketing strategy of Red Bull

04/18/2014

Contents

1. Executive summary

2. Introduction the project

3. Marketing Plan

3.1 Business Mission Statement

3.2 Situation Analysis

3.3 SWOT Analysis

3.4 Objectives

3.5 Target Markets

4. Positioning

5. Marketing Mix

5.1 Product

5.2 Pricing

5.3 Place

5.4 Promotion

6. Conclusions and Recommendation

7. Bibliography

1. Executive summary

Red Bull is most popular energy drink of the world. They sold more than 5 billion cans in 164 countries all over the world in 2013. The brand has a very good image and is category leader. Red Bull is following a high price/quality premium product strategy, but there are a lot of competitors with lower prices liker Monster or Rockstar. The marketing strategy includes a lot of promotion and well-targeted sponsorship, especially with extreme sports. The aim target markets are young urban males ranging from 15 to 30 years old.

2. Introduction to the project

¹ ”Red Bull is an energy drink sold by Austrian company Red Bull GmbH, created in 1987. In terms of market share, Red Bull is the most popular energy drink in the world, with 5.387 billion cans in 2013.” ¹ http://en.wikipedia.org/wiki/Red_Bull

04/10/2014

History
The idea for drinks enriched with taurine come from japan. Dietrich Mateschitz the inventor of Red Bull imports the idea from Thailand to Europe. During a visit in Thailand he realizes that it was easier to get over the jetlag with an energy drink. He took this idea and the marketing concept, modified the ingredients to suit the tastes of westerners and founded Red Bull GmbH in 1987 in Austria. Based on the good marketing strategy with alternative scenes like techno music, mountainbiking or snowboarding Red Bull got very successful.

Product details
Red Bull is a lightly carbonated drink that enhances mental and physical activity. The standard serving size of Red Bull is 8 ounces, the serving contains 110 calories, 27 grams of sugar and 80mg of caffeine.

Objectives of the paper
The following paper is about the situational analysis and recommendation of the marketing plan of Red Bull. It describes the marketing plan that includes the Business Mission Statement, Situation Analysis, SWOT Analysis, Objectives and the target market. Next chapter is about Positioning which explains the process that influences potential customer´s overall perception of a brand, product line, or an organization general. Furthermore the paper is about the four P´s that are known as the Marketing Mix: Product, Pricing, Place, Promotion. Last chapter is a little conclusion with recommendations of Red Bull.

3. Marketing Plan

3.1 Business Mission Statement
→ The foundation of the marketing plan is the mission statement, which answers the question “What business are we in?” ² “We are dedicated to upholding Red Bull standards, while maintaining the leadership position in the energy drinks category when delivering superior customer service in a highly efficient and profitable manner. We create a culture where employees share best practices dedicated to coaching and developing our organization as an employer of choice.” ²http://joseph-ramos.blogspot.com/2012/09/chapter-1-history-and-mission-statement.html 04/10/2014

Red Bull maintains over 40% of the market share for non-alcoholic energy beverages and has proven to be a strong competitor against soft drink goliaths Coke and Pepsi. The key markets include the United States, Germany, Brazil, Japan, Turkey and Scandinavia. Red Bull is targeting the Western Europe and the USA markets, as well as the growth markets of Brazil, Japan, India and China.

3.2 Situation Analysis

→ Marketers must understand the current and potential...
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