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
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Marking Code: Z0944701 Word count: 1929 Contents page Critical marketing issue One of the main questions that can be emphasized in respect of this case is the approach to the marketing strategy of Red Bull. Does the company still benefit from its non-traditional and “anti-brand” approach or Red Bull needs to change its marketing direction to a more common way? One of the root of this question lies in a statistics of market growth provided in the case study (p.2) which shows its decline in
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Red Bull Mission Statement: To be the premier marketer and supplier of red bull in Asia‚Europe and other parts of the globe. We will achieve this mission by building long-term relationships with the people who can make it become a reality. Marketing Mix Product * ProductRed Bull is a sweet‚ caffeinated drink aimed to give consumers the high energy kick. * Available only in rather expensive 250ml cans‚ 350ml bottles‚ with 4 packs and only two‘flavours’ (original or sugar-free).
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Business Unit 3 Marketing Of ‘Red bull’ Introduction As part of my marketing assignment‚ I will be looking at the marketing of a consumer product or service. Therefore‚ my chosen product is ‘Red bull’‚ which is an energy drink. I have assumed that my product is targeted at people that have similar situations to the ones used in advertisements for red bull. I will be looking to spot if the strategy used is based on the principles of marketing: Ø Understanding consumer wants: to become
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MKT - RED BULL Summary Red Bull is the most popular energy drink in the world‚ selling over $4.7 billion cans annually. The company was started by an Austrian entrepreneur Dietrich Mateschitz in the 80s. Red Bull pursued an aggressive yet different marketing strategy to grow their brand globally. Red Bull met an untapped need within the beverage consumer market and the strength of their brand provided them leverage to market themselves in a non-traditional manner. The brand is very strong‚ but does
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Red Bull was founded by Dietrich Mateschitz and officially launched in 1987. Ten years after its launch Red Bull was finally brought to the United States first being introduced in California. In 2000 Red Bull had approximately $1 billion in worldwide sales. In 2006 more than 3 billion cans of Red Bull were sold in over 130 countries. Red Bull now accounts for approximately 50% of the energy drink market in the United States and up to 80% in other countries with an approximate 65% overall market
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Introduction2 2.0 SWOT Analysis of Red Bull2 3.0 Analysis of Red Bull’s Market Structure and Control Systems3 3.1 Market Structure3 3.1.1 The number of players in the Energy Drink Market3 3.1.2 The Degree of Product Differentiation in the Market3 3.1.3 The Ease of Entry and Exit Into And Out Of the Energy Drink Market3 3.2 Marketing Control System4 3.2.1 Intensive Research Work4 3.2.2 Internal Statistics4 3.2.3 Marketing and Pricing Strategies4 4.0 Solutions and Recommendations4
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STRATEGIC ANALYSIS AND RECOMMENDATIONS: 29 4. STRATEGIC ANALYSIS AND RECOMMENDATIONS: 30 GENERIC STRATEGIES 30 Reasoning 30 Strategy 31 Pros/cons 31 Corporate Strategy 31 Market Penetration 31 Product Development 32 Current Strategy 32 SOURCE OF COMPETITIVE ADVANTAGE 33 STRATEGY AND PROPOSED CHANGES 34 MATCHING STAGE: 35 1. TOWS MATRIX 35 2. SPACE MATRIX 36 3. GRAND STRATEGY MATRIX 37 4. IE MATRIX 38 5. BCG 39 MATRIX ANALYSIS AND TOWS SUMMARY 40 DECISION STAGE
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1. Red Bull was founded in 1985 by Dietruch Mateschitz and launched in Austria in 1987. After establishing strong sales in their home market‚ Red Bull gradually expanded into other markets. The brand started with just one SKU which is their signature 250mL silver and blue can. Red Bull’s target audience was defined as people who are mentally or physically fatigued‚ or both. Therefore they had no specific demographic or psychographic segment. The consumer categories were students‚ drivers‚ clubbers
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Running Head: Red Bull Red Bull: Building Brand Equity in New Ways! Three Questions on Pearson Case Study 4. George Ray Redmond Review 1. Describe Red Bull’s Sources of Brand Equity. Do they change depending on market or country? According to Keller (2008‚ p 53)‚ brand equity is the strong‚ favorable and unique brand associations in the memory of customers. He goes on to define (p 54) two sources of brand equity: 1.) Brand Awareness; and 2.) Brand Image. Red Bull has well defined
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