Red Bull is known for having representatives distributing free samples of their product at bars, restaurants, college campuses, etc. Red Bull has a distinctive approach to marketing. What separates Red Bull from most brands is its customer-centric marketing. Red Bull has established a well organized and developed network of local subsidiaries to make the distribution of its products in the overseas countries and all the regions in its approach. Place — Red Bull holds 65 percent of the worldwide energy drink market. Red Bull launch Red Bull Cola and Red Bull Energy Shots as a new product and a sub brand. What are the risks to their brand equity of competing against such powerhouses? The social media strategy surrounds the use of extreme sports in exotic places with captions that are almost daring you to be a part of the fun, as seen in Figure 1.
Metrics to Gauge Success Red Bull is very competitive on Instagram, especially when compared to its lead competitor, Monster. The company produced different energy products according to the customers of the different age groups Yaqoob 2010. If yes, what should Red Bull do in response? The following plans in the table below will indicate some of the ways we will go about reaching our intended results. The launch not only introduced an entirely new product but a new product category as well. Sponsorship is also a marketing strategy that is gaining popularity fast. Brands can now create free business profiles that include access to follower insight statistics and the ability to promote posts.
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. Organizational Objectives: Organizational objectives of the company are always intended to improve the business position of the company on a successful level and improving the sales and profitability of the company on the right track. In Tuckwell, Integrated Marketing Communications: Strategic Planning Perspectives Vol. This can ensure Red Bull priced at average price point of competitor to compete. By 1997, the slender silver-and-blue can was available in 25 markets globally, including Western and Eastern Europe, New Zealand, and South Africa.
Firstly, Red Bull should launch similar product at a cheaper cost. The company can introduce an extension to their product line which may include: newer flavours to the current energy drink or sports drinks. Red Bull is continuously making efforts to expand its business in new and exciting ways. When you go to one of their events you feel like you are part of an experience. With the help of this strategy the company keeps its products affordable for the global customers.
In recent years social media has become a vital marketing tool for many organisations. Red Bull should launch their drinks in other market that Monster have not reach In order to compete wilt n Monster. Some great examples include downhill skating in Toronto, an ice climb up frozen silos in Iowa and the ever popular fly day , where devotees compete to fly or not using home-made contraptions. Within a short time period the strategy were implemented in lots of target market. The development of the high energy products is done by Red Bull with the inclusion of the specific product formula. We talk a lot about brand engagement, but here is a company putting it into action. Because for me it is a demonstration of branding in action.
Unlike their major competitors likeCoca Cola and Pepsi, having different products in various beverage classes like water, soft drinks, electrolytes etc, Red Bull does not. Pick different locations to visit to offer sales promotion. Coverage: We want to be able to target everyone across Canada. Red Bull compared to other products in the market is only positioned as a product and lacks the strategic management that a brand would have. People are more experimental than ever before Young, 2013. 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.
Red Bull has maintained its strong brand identity because of its loyal consumer base and unique business tactics. Their products can be found mainly at supermarkets, in vending machines and college and university campuses where they are most needed. It benefits health with B vitamins. Currently the market size is growing with more energy drink products being presented, but Red Bull still remains in the lead. This way we will be able create activities, allocate costs for it, and create an execution plan to ensure success. There is a lot marketers can learn from the Red Bull social media strategy; these are just a few takeaways from the Red Bull Facebook program. Red Bull loves to sponsor stunts like this, but not in the same way other brands do.
In addition, legal obligations could be hard to meet due to unhealthy accusations in the past, expenses and strong competition could become barriers to success. Red Bull does have a different way of promoting and advertising their products. More than one record was broken when Felix Baumgartner jumped from the Stratos and back to Earth. Moreover, it costs twice as much as other popular energy drinks, and contains a high dose of unhealthy ingredients, which may link to long-term side effects. Teams launch their contraptions off a specially designed Red Bull—branded ramp, 30 feet above a body of water. These sponsorships communicate to its customers that Red Bull loves these events as much as they do. Implicit in his comments was the assertion that you cannot create passion by appealing to all people equally.
By understanding their followers and measuring post effectiveness, businesses can create more targeted, relevant and compelling content to appeal to Instagram users. This product basically established the energy drink market segment in many countries and functions to combat mental stress and physical fatigue. The impact will be high when launch at the same time where viral about the products may occur. Using their favorite sports athletes to endorse it. Red Bull has paid tremendous attention to brand equity, which is clearly shown by the continuous increase in their market share, sales volume and profit margins over the years despite the entrance of competitors in the energy drink market. It works extremely well for good quality products as it gives the consumer an opportunity to try out the product before purchasing it and therefore they do not have to spend their money on it until they figure out whether they want the product A.
Their second objective which is to increase awareness and attract a younger audience along with more women than their original aging market can be achieved through mainstream media and promotions. This is a tactic that should be applied whenever a brand develops a new campaign. Rationale for Media Selection: The forms of media we have selected are the best options because our intended target market will be able to see and experience what we are trying to get across through our strategy. They will keep the loyalty from their customers while, at the same time, attract new customers through the new use of mass media promotions. Another significant feature introduced with Instagram Business Tools is the ability to create Dynamic Ads and promote well-performing ads.