Red Bull Energy Drink Essay Example for Free

chromatic Bull push button Drink show* rubicund Bull can be c all tolded as a pi matchlesser in the capability suck category worldwide. In India too, trigger-happy Bull was the brand that created the free talent drink category. * The brand came into existence in 1984. * The brand came to India in 2003. Although the brand has been keeping a low profile compared to the Cola majors , bolshie Bull has created a category of elan vital drinks in the Indian market. 4. Contd. * According to Economic Times ( 30. 05. 08) the energy drink market in India is estimated to be around 100 crores. * The market now has two main players Red Bull and Power Horse.* RB has an assessed market share of 29% of the global market of energy Drinks. * In the U. S. , Red Bull enjoys a 47% share of the energy drink market, and now has a 50% share of the German energy drink market. 5. SWOT analysis * grocery leadership- Within the energy drinks market Red Bull is the industry leader throughout t he world. Marketing Efforts- a lot of promotions and tumesce targeted campaigns and sponsorship e. g. formula 1 helps to expand Red bull brand and increase consumer brand awareness. * Strong , alert fashionable brand identity. * Strengths 6. Weaknesses * Above-average prices.* Lack of innovation- there are a lot of competitors in the market and they lead their own USP which leaves Red Bull behind. * Reliant on small product base- The company unless markets one branded product, Red Bull Energy Drink (along with a sugar free variety). * Inexperience is only 6 years old in India. * Lack of patent on RB s normal means anyone can copy it. 7. Opportunities * Extension of product line- this will help to retain market share. * loyal Advertising and Promotions. * Consumer recognition through sponsorship of sports events. * New ventures like partnership with Facebook.8. Threats * Health concerns- tougher rules from government on lavishly caffeine content. * Consumer awareness of healt h and well being- people may start to drink other alternatives as it is associated with healthier life style. * Drinks might not be accepted in the new markets. * Organic energy drinks might steal RBs market share. 9. Promotion Opportunity psychoanalysis * Competitive Analysis * Opportunity Analysis * scar Market Analysis * Customer Analysis * Market Segmentation scheme 10. Competitive Analysis 11. Share of Energy Drink Market Red Bull 42. 6 teras 14. 4 Rockstar 11.4 Full Throttle 6. 9 Sobe No Fear 5. 4 Amp 3. 6 Sobe Adrenaline Rush 2. 9 Tab Energy 2. 3 Monster XXL 0. 9 Private gauge 0. 9 Rip It 0. 8 Sobe Lean 0. 7 BooKoo 0. 5 Sobe Superman 0. 4 Von Dutch 0. 4 12. Real Competition * Redbulls real competitors are the market leaders of cola companies such as Pepsi Coca Cola, who have created their brand leadership since several years in the Indian market. 13. Opportunity Analysis * RB has a niche market is yet to percolate in the mass market. 14. Target Market Analysis * Core t arget market segments for RB consists of the core age group of 15 to 60.* Energy drinks with high sugar levels are more popular among children and women, while energy drinks with strong taste and scag are more preferred by male consumers. * Recent studies also indicated that 65% of the energy drinks market consists of male consumers. 15. Customer Analysis * Young people are especially open to determined debilitation and insufficient energy. * More specifically male teenagers people in their 20s, are also most likely to believe in the authenticity of the energy drinks. * As a result, the majority of energy drinks are develop for and advertised to this younger generation.* Appeal to very specialized groups, such as gamers, extreme sports enthusiasts, and the hip-hop crowd. 16. Target Consumer Demographics Psychographics Usage Behavior Consumption collection Age 15- 60 Content Image Conscious Influenced disbursement Power Youth trends Physically Active Eat Out 25% of Indians 17. Market Segmentation system * RedBull avoided usual methods of marketing, relying more on what is called buzz marketing or word-of-mouth. * Red Bull advertised direct to Generation Y , the so-called millennial people born after 1981.* Student brand managers who would be used to promote Red Bull on university campuses. These students would be shape upd to throw parties at which cases of Red Bull would be distributed. 18. Corporate Strategies * Mission Statement * Our mission is to be the premier marketer and provider of * RedBull in Asia, Europe and other parts of the globe. We will * achieve this mission by building long-run relationships with the * people who can make it become a reality. * Vision Statement * People Be a great place to work where people are inspired to be the best they can be.* Portfolio gravel to the world a portfolio of quality beverage that anticipate and satisfy peoples desires and needs. * Partners Nurture a winning meshwork of customers and suppliers, t ogether we create mutual, enduring value. * Profit Maximize long-term return to shareowners while being remindful of our overall responsibilities. * Productivity Be a highly useful, lean and fast-moving organization. 19. Brand Development Strategy * capital Strategy Begins with Great Research. * Once the brands core values have been identified, the road towards effective brand proposition development begins.* Development of the brand statement- commencing a Brand development strategy. 20. 21. Brand emplacement Strategy * Clear, Engaging, Unique, Relevant to the target audience. * Able to incorporate an element of positive emotional attachment that is break dance than just quotgood. * Echoed within business, internally and externally. * Consistent across multiple marketing advertising mediums (print, online presence, etc). * continually toughened within the organization so that employees consistently deliver what is promised. * Able to adapt to a ever-changing marketplace. 22. Distribution Strategy.* Intensive distribution aims to provide saturation coverage of the market by using all available outlets such as * Super markets, * Gyms, * Coffee Houses Subway, Barista, Costa Coffee, Cafe Coffee Day * In n Out Convenience Stores. * Pizza Outlets. * Media Relations * Use Technology * Monitor the Web * cook Public Awareness 23. Integrated Marketing Communications Management * Sales Promotion * Must encourage the 1 st purchase of the product in a store. * Make them aware of the product its advantages. 24. IMC Objectives * RedBulls IMC heading is Sales Promotions.* Create new target markets. * Large display in the Departmental stores. * Bull pick stickers on the floors of departmental stores promoting RB. 25. IMC Budget 26. Internet Web site * Promotions through social networking sites such as facebook, twitter, Hi5. * Also, Ad promos on websites such as NDTV, zoom India. 27. Media * Ad Campaigns on Prime TV take such as NDTV good times, MTV, Channel V, Zo om, VH1, Star World a few more. 28. Budget * cartridge holder * Femina, People, Rolling Stones. * 15k per page * 12 mnths- 180,000 * Newspapers * HT City Delhi Times.* 1lac per page * 4 weeks * 12 mnths- 4800000 * Radio * 10k per mnth * 12 120000 * TV * 5 lacs * 4 weeks * 12 2400000 * Total Expense 31,80,000 29. 30. Integrated Marketing Communication Methodologies * How do we move on? How do customers process information? * There are many models theories. * Thorough understanding of the audiences needs, emotions * activities is essential to control accuracy relevance of the * message. 31. Advertising * What target market do you want to reach? * What image do you want to portray? * What product or service do you want to emphasize?* How much currency can you spend? * When is the right time to advertise? * Red Bull has an aggressive marketing campaign. * Red Bull uses all the available media channels, meaning cinema, TV, radio, press and the internet. * In other words the co mpany focuses on the media through which it reaches its primary target market-young people. * RB allows the consumers to interpret the product the moments of use themselves. * Red Bull achieves this by a humorous and witty cartoon campaign, transferring the message that this energy drink helps you to escape by enceinte you wings ?.32. Consumer Promotions * Red Bull sponsors the motorsports or fun sports, but always where Red Bull is needed. * Red Bull does event sponsoring. * Event sponsoring attracts peoples attention towards the product and connects them. 33. Personal Selling * take is another very important part of the three pillar marketing system. * As the major invention of Red Bull is to energize the company samples at the right place at the right time, where it finds its direct target market. * Examples of usage are driving, studying, working night shifts and sports.34. 35. Media Plan * TV * Still a staple fibre medium of advertising. * Allows to demonstrate the advanta ges of RB. * Good Reach. * Magazines * Economical. * Provides higher brand awareness. 36. Evaluation Control Metrics Campaign piece Metrics News Media No. of viewers of the articles Social Media No. of people using the Blogs such as Twitter, Facebook Internet TV No. of people viewing particularly when the Ad is being aired. Print publicizing No. Of Subscribers of those magazines, Newspapers Product Placement No.of comments (+ or ) mentioned on social networking sites.37. Timelines IMC/ Month Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 RedBull on the Web Print Media Blogs Radio TV Other Misc.* DARE TO BE DISCOVERED 38. 39. Sources * http//www. rediff. com/money/2006/may/24drink. htm * http//www. thestudentroom. co. uk/showthread. php? t=986602 * http//www. trcb. com/business/marketing/redbull-marketing-strategy-7375. htm * http//www. drawert. com/red_bull_2. php http//energydrinks. factexpert. com/882-energy-drink-industry. php.