Red bull Marketing

Topics: Marketing, Pricing, Dietrich Mateschitz Pages: 2 (628 words) Published: October 29, 2014
Marketing – Red Bull
Dietrich Mateschitz founded Red Bull in 1984 after
discovering the widespread popularity of tonic
drinks in the Far East. He developed the Red Bull
Energy Drink, launching the product on the
Austrian market in 1987. Since then, Red Bull
has launched a range of products, including Red
Bull Cola in 2008 and Red Bull Energy Shots in
2009. Today Red Bull has annual sales of around
4 billion cans in 160 countries. Red Bull has a
distinctive approach to marketing. It uses a
progressive marketing strategy. This type of
strategy aims to constantly evolve and develop
the brand. This approach allows Red Bull to engage with consumers using new and exciting channels of communication. In recent years social media has become a vital marketing tool for many organisations. Its increasing popularity, predominantly with young audiences, has had a huge impact on modern marketing techniques. Digital and social media campaigns are integral to Red Bull’s marketing strategy. The role of the marketing function

To meet the needs of its customers, every organisation seeks a distinctive marketing mix. This is often referred to as the 4Ps. It involves focusing on: · product – the specific features and benefits of the product · place – where and how the product is sold

· price – setting the right price in each market
· promotion – using the most suitable form of promotion to reach customers. For example, the marketing mix for Red Bull Energy Drink is based around: · a distinctive product - the taste of the product is unlike any other, it also has a functional effect in comparison to other soft drinks

· it is easy to obtain as it is sold in a variety of places – including retail outlets and food and drink establishments
· Red Bull uses a premium pricing strategy. The product is priced above that of competitors’ products. Consumers will pay a premium for Red Bull due to the quality of the product and the product’s benefits. This is reflected in the fact...
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