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Red Bull is a version of a Tai drink called Krating Daeng and now is well known energy drink market leader. The product has developed a unified advertising communication strategy to extend its target onlookers i.e. youth around the world. Value, product, employment and elevation are the major parameters of this product's marketing. Red Bull gives assurance to increase performance throughout the times of anxiety or tension. It will rise attentiveness and recover response speed and stimulate metabolic rate.
This product refreshes the body and improves concentration levels.
Strengths: Market management, advertising struggles, durable, new and stylish product uniqueness, calm, flexible promotion throughout the world and product selection method are the main strengths of this product.
Marketing Strategy: Red Bull is advertised via promotion, events, athletic club, proprietorships and stars support. The catch line "Red Bull gives you wings" is the main purpose which astonished and fascinated the clients to purchase the beverage. Also with the help of stars support this product gains publicity.
Competition: Pepsi-Cola and Coca-Cola are very active in the marketplace. Coca-Cola advertises two products under the Rock star and Full Throttle. 2 another competitive products are named as Monster and Lost that come under the Hansen Natural Corporation. Coca-Cola and Pepsi-Cola also gaining a reputation via their delivery network in North America. Their product accessibility in superstores, selling apparatuses and at universities where high-class delivery agreements are in effect proposal vital potential to gain market segment.
Challenges: Red Bull has gained unbelievable achievement, but now this product is facing many challenges.
First one is market share has shortened over the last few years. Also there are health worries due to the high amount of caffeine. Disappointment in the new facility or market classification. Control of the Red Bull is vulnerable by the coca cola into the business. This product is dropping the tight attention among the existing products and destroying the impression of the existing products.
Recommendations: Red Bull should follow some latest advertisement i.e. social media advertising that works superior for the product and will be very useful for them in future. Red Bull should focus on new methods such as free drinks to the students occasionally.
Red Bull is an Austrian company which was established in 1987 and marketed by Red Bull GmbH. It has the highest market share among all energy drinks in the world. Red Bull is the first product of its kind which gives the energy and boosts the metabolism. It revitalizes the body and mind. The key ingredients in 250ml can of Red Bull are taurine 1000mg, glucuronolactone 600 mg and caffeine 80 mg. It was introduced to the US in 1997 and to Canada in 2004. Red Bull should not be confused with other products like Gatorade as later only rehydrate the body while exertion during sports participation. In Canada its market share is estimated to 50 percent with $22 million worth of retail sales. Coca-Cola and Pepsi are the biggest competitors of Red Bull energy drink market. Red Bull uses buzz marketing strategies for advertising. Their target market comprises of young urban males from ages 16 to 29. Red Bull market its product using the theme and slogan "Red Bull gives you wings."
Research openly says that Red Bull comprises an extreme quantity of substances, certain journals, even compare it to extremely addictive medicines. Also Red Bull is following the traditional ways for their advertisement. Other brands are taking advantage and gaining popularity. A Measurable portion of the research has also identified that twenty five out of thirty members have purchased Red Bull. Remaining members stated that they did not like the taste of the product. Also, according to them it is harmful for health.
The situational analysis of Red Bull is grounded on the interior and exterior environments.
There are multiple ways that Red Bull can use to overcome their marketing issue.
The alternatives include Growing the product availability, Global extension, Expansion of product line.
We assume that the available marketing communication plan budget will be $1.7 million, which mostly will be used to create awareness among new and young audience and also maintain and increase the market share.
The Red Bull Market analysis is Manifold. Primarily for apportioning the advertising costs for the firm while using the market research to learn about market rivals and their grip on the Market. The information allows the Organization to look into options, to penetrate new markets. Red Bull primarily targets youthful and energetic members of the society. They promote at gaming conventions focusing on the extraordinary game members. Additionally, to focus their marketing on the enthusiastic onlookers Red Bull's market position depicts the picture of being youthful, reliable, outrageous game sports necessities. They do this by promoting and supporting numerous Games and rivalries and target more similar youthful gatherings.
Red Bull showcasing destinations are to expand benefit, making an all the more universally known item and brand name to gatherings and to build deals.
Red Bull is presently boosting individuals around the world, marketing more than nations around the world. The Red Bull consumers are divided into two segments- Students who love to party and Workers. Every one of them utilize the caffeinated beverage in their own way. The primary focus for Red Bull is in maintaining the Top Brand status in the caffeinated drinks market. In order to achieve its Objectives, the company showcases its product at every available opportunity to its targeted market. The promotion activity is achieved by using the three main methods- Advertising, Sampling and Supporting.
Red Bull Marketing campaign isn't just to sell the product, but to make a statement that it is in fact selling a way of life. Seizing on the belief that individuals are eager to be part of Red Bull's amazing behavior towards life.
It is due to this belief and promotion that Red Bull maintains a significant portion of the Overall Energy Drinks Market. Considering that the advertising component in the energy drinks markets is as high as 70%, Red Bull continues to hold its own. This is not without Challenges. In order to maintain the lead and continue growth in Asian countries and Western Europe, the company will be producing new products and showcase unique target gathering.
Red Bull PESTEL (Political, Economic, Social, Technological, Environmental and Legal elements) investigation helps understand the influence on the product.
The main marketing strategy goes on to build the loyal customer network which includes energy, excitement and emotional connection so that a customer can relate easily to the brand. The company does not do much of advertising because they are more of a performing brand rather than just the speaking brand. The company makes sure that a consumer experience a good life long memory with brand and in return they do a positive word of mouth for the brand.
Energy Drink industry used to be dominated by Red Bull. Dietrich Mateschitz and Chaleo Yoovidhya in 1987 established the company Red Bull GmbH. The brand's logo itself attracts a lot of customers in the young generation, two bulls facing each other neck's down ready to fight looks kind of cool and itself provides the energy drink an X- factor. The brand has also managed to identify their target market as well which makes it easy for them to understand the customer need and desire of the product. The brand first introduced its drink in Thailand, Red Bull was inspired by the then existing brand called Krating Daeng.
Red Bull has a positioning strategy of high price, high quality which shows they maintain the quality of the product but also maintain the brand image by putting good price. They have an upper hand in the market as they sponsor many events mostly are of racing events. Also it's a premium brand so they keep their customer satisfaction to high level by providing products readily available and not only just by convenience store but also by providing vending machines at different places and also customer can acquire it at different events such as tennis matches, horse ride racing, car racing etc.
Red Bull's slogan "It gives you wings" is their main strategy as they link every marketing event to this slogan. This slogan means "you can do the impossible" so to prove that they sponsor sports or events which require a lot of hard work and intensity. By sponsoring these events they give their customer message about how can they achieve impossible by having red bull as their main drink. They also sponsor some non-sports events such as festivals from which they show creativity and also they want to enter the market other than sports which shows a non-sport person can also prefer red bull drinks over other. So they have linked every marketing strategy with each other.
From the analysis that we have conducted, it is evident that Red Bull have young generation in their target market. Therefore, the IMC strategy that Red Bull is using is helping them immensely.
Moreover, Red Bull also uses Social Media sites, TV advertisements, Radio to promote and advertise their products. Furthermore, Red Bull sponsors sports events such as Rugby Union, Snowboarding, Air Racing, Soccer and Motocross.Red Bull Soccer team- New York Red Bulls (USA), Red Bull Salzburg (Austria). Red Bull F1 Team- Aston Martin Red Bull Racing.
Integrated Marketing Communication Case Report on Red Bull. (2024, Feb 10). Retrieved from https://studymoose.com/integrated-marketing-communication-case-report-on-red-bull-essay
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