Question 1 Marketing Research plays an instrumental role in all three phases of the marketing management process in: planning‚ implementation‚ and evaluation. 1. Discuss how Red Bull uses marketing research in the above three phases. The marketing research process as described by Kotler and Keller (2006:103) consists of the following steps: [pic] The next sections detail an analysis of how Red Bull has been able to achieve planning‚ implementation and evaluation using the above marketing research
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The service industry creates the most jobs in Venezuela. Petroleum export is the leading source of income for the government. Therefore‚ the Venezuelan economy is closely tied to the price of petroleum. For the product introduction‚ Red Bull will be targeting the growing economy of Venezuela. After a few years of recession‚ the Venezuelan economic structure seems to be turning around based on the rising petroleum prices. The goal is to introduce the Red Bull energy drink to Venezuela’s growing
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The Red Bull Branding Story Report by: myparanoidego Table Of Contents: Executive Summary…………………………………………………………………….. 3 1.0 Introduction…………………………………………………………………………… 6 2.0 Brand Positioning and Values………………………………………………..... 8 3.0 Brand Characteristics……………………………………………………………... 11 4.0 Product Benefits and Consumer Satisfaction…………………………….13 5.0 Brand Communities……………………………………………………………….. 15 6.0 Brand Equities……………………………………………………………………….. 16 7.0 Conclusion……...………………………………………………………………………
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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
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RED BULL 1. Who are Red Bull´s greatest strengths and risks as more companies (like Coca-Cola‚ Pepsi and Monster) enter the energy drink category and gain market share? Strengths There are six marketing lesions from Red bull which gives them competitive advantage 1. Embrace a sense of purpose 2. Beyond Big Society: do more than grow your bottom line 3. Move beyond ROI: pitch for emotional impact 4. Embrace ‘extreme marketing’ 5. Behaviour trumps brand values 6. Place
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Situational Analysis Trends/Issues Red Bull is an energy drink aimed at students and athletes. No one thought that a “functional drink” sold at a premium price and packaged in a can would ever be successful‚ when the idea first came up in 1987 (www.redbull.co.uk 13.05.2009)‚ however the product became quite popular amongst young people and frequently drank at night clubs as a ‘mixer’ (mixed with other drinks‚ e.g. vodka and whisky). The company’s marketing was also quite successful and the ‘buzz’
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in Segmentation‚ Targeting‚ and Positioning By applying market segmentation‚ targeting‚ and positioning (STP) model into Red Bull Company‚ we can differentiate what Red Bull need to do to recover from dropping in sales (Kotler‚ 2009‚ p.217). First of we need to find out what is the problem‚ second how to tackle that problem‚ and take action. STP is a way to solve the problem facing Red Bull. We would like to produce two new products which are (1) drink of the night and (2) healthy bull. We
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you characterize Red Bull’s overall global marketing strategy (global‚ glocal or local)? Ans 1 – It is my opinion that Red Bull has a global marketing strategy which it implements in all the markets in enters into. Red Bull has built its name as a trendy energy drink‚ catering to young adults (aged 16-29)‚ young urban professionals and post secondary school students. Also it targets young club-goers and private parties to spread its name as an active and stylish drink. Red Bull believes that it
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Contents Introduction 1. Why did we choose Red Bull 2. Executive summary I) Company presentation II) Macro Analysis 1. Market Descriptions 2. PESTLE 3. Five Porter Forces III) Micro Analysis IV) Objectives & Strategy 1. Customer Analysis 2. Segmentation 3. Targeting 4. Positioning 5. Marketing Mix V) Financial Statement VI) Recommendations Conclusion Reference Introduction Red Bull is the leader of the energy drink market. This company created in 1984 by Dietrich Mateschitz performs
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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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