Among the target customers, the reinforcement of the products is done by the company only through its premium pricing strategy. Red Bull can easily capture their new target markets attention through advertisings. This was brought about by the seeding program Red Bull used when entering new markets where the energy drink was exclusively sold to high-end shops, clubs and endorsed by famous personalities. Lack of Innovation and Unique Selling Position: Within the industry there are number of competitors who are utilizing innovation in product and unique selling product. For promotional purpose, Red Bull organizes several kinds of activities in its marketing process to promote its products on the global level.
Red Bull ensured this by making certain that the consumer knew what consumption of the drink would result to. The company tries to engage with consumers using new and exciting channels of communication. Instead, please judge us by the quality and professionalism of what we produce across our many products and projects. Category leader: Red Bull has established a strong consistent brand image globally. Now Red Bull can catch up to them and expand their presence in the energy drink market along with creating brand loyalty towards them by simply also offering their products in a variety of places. Furthermore, it is worth to note, that releasing of new non-energy drinks will entice new consumers who are adverse to the energy drinks concept Walker, 2010. This product basically established the energy drink market segment in many countries and functions to combat mental stress and physical fatigue.
S are very saturated, Red Bull holds 46% of the U. Along with that, increasing mass media promotions would allow them to simply grow as a company. That allows them to satisfy different taste preferences that their customers may have. If these problems are not solved they might possibly be the cause of a downfall, in the midst of facing major competitors. But they are selling well that Red Bull does not participate in the price-off regularly seen in different flooded beverage industry. It also targets young club-goers and private parties in order to spread its picture as a stylish drink.
This value may create by increasing differentiation in existing product or decrease its price. Place Mix: Distribution of the products is the main concern of the business organization in their overall marketing functions. Any firm who has valuable and rare resources, and these resources are costly to imitate, have achieved their competitive advantage. Therefore by making Red Bull available in supermarkets and vending machines it will only make it much more convenient for the customer by giving them easier access to the product. The development of the high energy products is done by Red Bull with the inclusion of the specific product formula.
Ambitious campaigns can be created for any company, even without massive funds. The persona created by the Red Bull social media team is one that associates greatness with the brand. Thus, the main question is how Red Bull marketing strategy should be adjusted to the changing external environment or should this non-traditional buzz-marketing approach be maintained in order to increase market share in soft drinks and effectively compete with rivals. While there is much about the Red Bull social media program that can be dissected and observed, it makes sense to start with the most prominent network in their social media arsenal: Facebook. Dietrich Mateschitz founded Red Bull with a single product in Austria in 1987. Even for exporting Red Bull is not producing a concentrate, instead of they shipping it finished in the cans. They need to develop their brand and attract a new generation of young males and females.
Dietrich Mateschitz, an Austrian entrepreneur approached the manufacturer and was granted a licensing agreement to market the product in other countries. Price Mix: Price mix is the second important element of the marketing mix strategy of the business organizations. This strategy helps the company to make any strategy that would differentiate the company from competitors, so that the organization can compete successfully in the industry. They sold more than 5 billion cans in 164 countries all over the world in 2013. Before over-achieving brands like Coca- Cola and Pepsi begin to attract newer and different users, Red Bull needs to step up their game so that in the end they are not left behind. Red Bull drives its global product positioning over the other brand of competing firms by selling its products on premium price. Red Bull is made to improve performance, concentration, reaction speed and vigilance.
Create Clear Distinctions Red Bull has become famous for some of their viral content. Furthermore Red Bull can increase advertises on the Internet. There will be no concern of their consumers switching brands when they will have the option to purchase a can of Red Bull from a vending machine along with the other brands, this will help strengthen their relationship with their consumers even more and will result in an increase in brand loyalty as well. These concerns may go on to affect not only their reputation, but also their sales. Red Bull targets those whose lifestyle also includes a lot of social media, as they are known to have a lot of promotions and news about events online through their different social media channels. Competitor Analysis The main competitors of Red Bull are Coca-Cola and Pepsi-Cola, although the energy drink market is growing bigger with other energy enhanced products being introduced.
As a result, its sampling campaigns take place at concerts, parties, festivals, sporting events, beaches, highway rest areas for tired drivers , and college libraries and in limos before award shows. Monster represents the biggest threat as it contains natural ingredients, which seems more desirable than Red Bull for some consumers. The version of content included: Caffeine, taurine, and glucurononolactone. Sports, physical triumph and even record-breaking feats are now associated, almost by instinct, with the brand, and much of that is to the credit of their Facebook presence. Recognizable symbol: Red Bull has a strong long-term brand image with strong customer loyalty. Chat with us Please leave your feedback Elements of Red Bull's Marketing Strategy was generally acknowledged by marketing experts to be a good example of an ordinary product of uncertain worth that was transformed into a powerful brand through innovative marketing. In terms of market share, Red Bull is the most popular energy drink in the world, with 5.
These types of promotions will encourage the consumers to buy the product and it will result in an increase in sales and their market share as well. In its marketing practices, the main focus by the company is given on the different elements of the marketing mix. A larger demographic can be drawn through the radio, magazines, as well as celebrity endorsements. It´s twice expensive compared to the competitors. Consumers tend to think twice at the time of purchase. It goes faster to deal with individual accounts, not big chains and their authorization process. Opportunities Extension of Product: Red Bull is a single product on the market, there is an opportunity for it to extend its products line by developing more innovative products.
What changes were made for the U. Red Bull used this strategy and provided samples only in the ideal usage occasions, which was when the consumer needed or wanted a boost in energy levels. It is not easy in a cluttered confusing world of canned drinks with energy connotations like Monster, Gatorade, Coca-Cola and many more. For example Red Bull had been banned in Norway for a couple of years because of the high caffeine content. While the Red Bull Facebook page featured content from the jump, it was not the primary source for fans.