Red Bull Marketing Plan

In: Business and Management

Submitted By alexandrasnyder
Words 2838
Pages 12
Red Bull Marketing Plan
Introduction
Red Bull, the iconic pioneer of the late 20th century energy drink movement, is enormously successful and popular. Everyone has had days where a cup of coffee seems woefully inadequate, and beverages such as Red Bull “give you wings”, as their slogan promises, and offer a refreshing lift to help people conquer their overfilled schedules and endless meetings. However, with only one flavor and a seemingly narrow target demographic, is Red Bull really capitalizing on their significant brand equity? In this marketing plan, we will discuss the possibilities that lay ahead for Red Bull, including modifications to product, pricing, distribution, and promotional strategies. Since Red Bull is such a polarizing drink, the marketing plan will take a dual approach of increasing the rate and profitability of sales from existing loyal customers, while addressing the needs of potential new customers who have not recently found their needs met by Red Bull’s current offerings.

Situational Analysis A classic SWOT analysis of Red Bull reveals many positive attributes that make the drink a strong product upon which to build a successful marketing campaign, but also show that there are negative aspects of the product that lead to a wealth of opportunities for improvement in marketing and product design. The product’s strengths are numerous, but the primary strength of the product is its strong brand recognition. Because Red Bull was the first energy drink to become widespread in the American market, most people are familiar with the brand, and they trust that Red Bull will affect a distinct change in energy level of the consumer. Like Kleenex, its brand recognition is so universal that individuals sometimes refer to the brand name to describe any member in the category of products similar to Red Bull, and the brand name has become…...

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...
 Marketing
Plan
Outline:
Red
Bull
 Marketing
Background
 Company
and
Product
Review
 
 In
1982,
Dietrich
Mateschitz,
creator
of
Red
Bull
alongside
Chalerm
Yoovidhya,
saw
 1
 where
Japan
and
Thailand
were
heading
in
the
energy
drink
market
and
decided
they
 wanted
a
piece
of
the
pie.
By
1987,
Austria
proved
to
be
a
difficult
market
for
Red
Bull
to
 survive
in
and
soon
Mateschitz
expanded
into
Hungry
and
the
rest
of
Germany.
After
 expanding
across
Europe
with
a
lot
of
trial
and
error
Red
Bull
was
$12
million
in
the
hole.
 Rather
than
scrapping
Red
Bull
as
a
loss,
Mateschitz
fired
all
his
staff
and
hired
a
marketing
 firm
to
help
him
target
nightclubs
and
students.
Buzz
marketing
became
the
main
focus
of
 Red
Bull’s
marketing
plan,
and
soon
students
were
pounding
campus
pavement
and
driving
 around
in
Mini
Coopers
with
a
big
Red
Bull
can
strapped
on
top
with
free
samples.
His
buzz
 marketing
proved
to
be
not
only
cost
effective,
but
the
very
thing
that
gave
Red
Bull
its
 appeal.
Although
Red
Bull
was
not
welcomed
with
open
arms
in
all
countries,
such
as
 France,
Denmark
and
Norway,
it
was
growing
and
expanding.

 
 Mateschitz
soon
realized
that
an
extreme
sporting
event
was
a
profitable
avenue
to
 take
Red
Bull
down.
Red
Bull
started
supporting
approximately
500
extreme
sports
 athletes
and
hosting
exclusive
parties
for
these
rock
star
competitors.
By
1997,
Red
Bull’s
 buzz
marketing
strategy
proved
successful
in
the
U.S.
as
well.
Events
are
now
hosed
......

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