Giving Red Bull Chinese Wings
Giving Red Bull Chinese Wings
Following a slow birth to their inception in 1984, Red Bull (RB) went back to the drawing board and through ‘out of the box’ ingenuity and innovative marketing strategies by 2003 RB captured not only the American but many European markets (Buchholz 2008). However, now in a deeply saturated market, RB must try and differentiate themselves once more against their competitors in order to remain dominant in the energy drink market.
The most critical marketing issue we have identified with RB during this period was their untapped potential to strategically market themselves in the large and economically growing Asian markets. One particular market we believe should be exhausted is China. We aim to advertise and increase the sale of RB and thereby ensuring more financial profit and increasing RB’s overall global brand recognition and image.
The rationale behind choosing China as our market is twofold. Firstly, it has been recorded that the total population for mainland China was 1,265 million with 70.2% of the population aged between 15-59 (National Bureau of Statistics of China, 2000). This indicator displays that the Chinese market has a potential large untapped consumer group which would align themselves coherently with RB’s product. Secondly, the reason why we chose China was due to their alarmingly high GDP which was RMB 13.7 trillion in 2004, whilst also encompassing the world's fastest-growing major economy, with growth rates averaging 10% over the past 30 years we believe RB market entry to China would be fruitful and worthwhile (National Bureau of Statistics of China, 2005). In addition, specific to the beverage industry, it is estimated that China will become the world largest beverage market. However, RB only occupy 0.2% market share in 2004 (Euromonitor International).
This report is concerned with creating a viable marketing strategy for RB to penetrate the Chinese market in hope of generating new
Following a slow birth to their inception in 1984, Red Bull (RB) went back to the drawing board and through ‘out of the box’ ingenuity and innovative marketing strategies by 2003 RB captured not only the American but many European markets (Buchholz 2008). However, now in a deeply saturated market, RB must try and differentiate themselves once more against their competitors in order to remain dominant in the energy drink market.
The most critical marketing issue we have identified with RB during this period was their untapped potential to strategically market themselves in the large and economically growing Asian markets. One particular market we believe should be exhausted is China. We aim to advertise and increase the sale of RB and thereby ensuring more financial profit and increasing RB’s overall global brand recognition and image.
The rationale behind choosing China as our market is twofold. Firstly, it has been recorded that the total population for mainland China was 1,265 million with 70.2% of the population aged between 15-59 (National Bureau of Statistics of China, 2000). This indicator displays that the Chinese market has a potential large untapped consumer group which would align themselves coherently with RB’s product. Secondly, the reason why we chose China was due to their alarmingly high GDP which was RMB 13.7 trillion in 2004, whilst also encompassing the world's fastest-growing major economy, with growth rates averaging 10% over the past 30 years we believe RB market entry to China would be fruitful and worthwhile (National Bureau of Statistics of China, 2005). In addition, specific to the beverage industry, it is estimated that China will become the world largest beverage market. However, RB only occupy 0.2% market share in 2004 (Euromonitor International).
This report is concerned with creating a viable marketing strategy for RB to penetrate the Chinese market in hope of generating new