Judgment role in financial statements
Introduction
Red Bull is the largest producer of energy beverages, with a world market share of 40% (Yahoo Ltd, 2011). Its main competitors include “V” and Mother who compete with Red Bull in the mass market of energy drinks. This report will focus on a different number of aspects that will critically analyse Red Bull’s position in the market today. Covered in this report is the background of Red Bull and where they fit into the market, an analysis of their competitors, an analysis of the macro and micro elements concerning Red Bull and a strengths, weaknesses, opportunities and threats analysis (Kotler ,Adam, Denize, Armstrong, 2008) which will show how Red Bull managers the companies situation.
Company Background
For years now Red Bull has researched and developed products to stay competitive in the market. This research includes the internal and external analysis of the company and provides Red Bull with information that can be used to gain a competitive advantage. An example of Red Bull using this information is when the sugar free energy drink was developed. Red Bull developed this side product as customers were thinking more about their health and desired a healthier beverage. The SWOT analysis is a key component in the production of Red Bull energy drinks. It provides vital information on what strengths Red Bull can play to their advantage and weaknesses they need to improve on. It also indicates threats from other competitors or environmental impact and opportunities such as the change in customer desires that Red Bull can utilise.
The target market is a group of customers a company chooses to target its products to (Kotler et al. 2008). Red Bull’s main market it targets is youthful students. To utilise this market Red Bull uses the marketing mix containing the seven “p’s”, a few which must be monitored by Red Bull in order to stay ahead of their competitors and maintain a competitive advantage. The seven “p’s” include product, price, place, promotion,
Red Bull is the largest producer of energy beverages, with a world market share of 40% (Yahoo Ltd, 2011). Its main competitors include “V” and Mother who compete with Red Bull in the mass market of energy drinks. This report will focus on a different number of aspects that will critically analyse Red Bull’s position in the market today. Covered in this report is the background of Red Bull and where they fit into the market, an analysis of their competitors, an analysis of the macro and micro elements concerning Red Bull and a strengths, weaknesses, opportunities and threats analysis (Kotler ,Adam, Denize, Armstrong, 2008) which will show how Red Bull managers the companies situation.
Company Background
For years now Red Bull has researched and developed products to stay competitive in the market. This research includes the internal and external analysis of the company and provides Red Bull with information that can be used to gain a competitive advantage. An example of Red Bull using this information is when the sugar free energy drink was developed. Red Bull developed this side product as customers were thinking more about their health and desired a healthier beverage. The SWOT analysis is a key component in the production of Red Bull energy drinks. It provides vital information on what strengths Red Bull can play to their advantage and weaknesses they need to improve on. It also indicates threats from other competitors or environmental impact and opportunities such as the change in customer desires that Red Bull can utilise.
The target market is a group of customers a company chooses to target its products to (Kotler et al. 2008). Red Bull’s main market it targets is youthful students. To utilise this market Red Bull uses the marketing mix containing the seven “p’s”, a few which must be monitored by Red Bull in order to stay ahead of their competitors and maintain a competitive advantage. The seven “p’s” include product, price, place, promotion,