BUS 330 Week 5 final marketing plan red bull 2

BUS 330 Week 5 final marketing plan red bull 2

BUS 330 Week 5 final marketing plan red bull 2

History of Red Bull:

“Austrian entrepreneur Dietrich Mateschitz was inspired by an existing energy drink

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named Krating Daeng, which was first introduced and sold in Thailand by Chaleo Yoovidhya. He

took this idea, modified the ingredients to suit the tastes of Westerners,[5] and, in partnership

with Chaleo, founded Red Bull GmbH in 1987 in Chakkapong” (Jadhav, 2017).

Red Bull is a popular energy drink consumed by millions, myself included. Red Bull

comes in 8oz, 12oz, or 20oz cans. The package is attractive and eye catching in blue and silver

with the name brand in a contrast red. The can, I have found, is of a make and material that

absorbs and holds refrigeration well. This is most likely a necessity to the quality of the total

product. It has been my experience that a hot red bull doesn’t taste as good as a crisp cold one.

The refrigeration contributes strongly to the recipe of the drink. Red Bull is crisp, refreshing,

and a boost of energy. It has a light citrus flavor that is considerably less syrupy sweet than its

competitor Monster Energy.

The product is sold in most convenience and grocery stores. However, Red Bull products

are subject to more restricted distribution channels. Though, like other drinks, Red Bull is

carried in stores, the stocking, inventory, delivery, and service of its distribution is performed

solely by Red Bull representatives. Products are displayed in a Red Bull specific case that’s easy

to see.

Red Bull was the first energy drink to enter the market in 1987. Since its introduction

Red Bull has managed to grab and keep the majority share of the energy drink market. The

marketing strategy of Red Bull is an interesting one. Red Bull employees an association

marketing strategy that would fit the model for athletic and sports event planners. The company

differentiates itself with the “extreme” image it portrays. Red Bull employs marketing tactics

that make you stop and watch. It’s interesting and exciting. Extreme sports, cliff diving, and

concerts. They project an image that appeals to their target market’s entertainment needs, and

then they create a positive association of that event or production to their product. They sponsor

music and extreme sports events where they create their own sales environments that brings the

audience to the product. Rarely on their website do you ever actually see a Red Bull can. The

marketing focuses more on how do we find new customers rather than how do we sell a product.

New customers then become a stable consumer for their product. Red Bull’s customer base has

proven to be extremely loyal.

Red Bull’s high price point is not a detractor of sales. Red Bull employs a high pricing

strategy and their customers willingly pay it. Although there is now a wide variety of energy

drinks in the market that are lower priced, Red Bull’s market doesn’t seem to waiver with the

lower pricing of other competitor’s substitute products. Red Bull customers associate the energy

drink with quality, and they are willing to carry a higher price for it.

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