Description of the target market

Description of the target market a detailed description of the TA for the new brand extension supported by reference to secondary sources eg.. Mintel and tgi supported by academic coverage of STP marketing planning process. We are going to ti use Redbull brand for extension and the brand extension will be called Redbull flexi use and less 2 reference's

Description of Target
Market
(Redbull Flexi)

Table of Content
DESCRIPTION OF TARGET MARKET USING STP MODEL FOR BRAND EXTENSION
KNOWN AS REDBULL FLEXI....................................................................................................3
Segmentation, Targeting and Positioning (STP) of Redbull Flexi.........................................3
REFERENCES................................................................................................................................4

DESCRIPTION OF TARGET MARKET USING STP MODEL FOR
BRAND EXTENSION KNOWN AS REDBULL FLEXI
Segmentation, Targeting and Positioning (STP) of Redbull Flexi
Redbull is an Australian company which is market leader in energy drink producer and seller.
The company was founded in 1987 and was initiated by an Australian entrepreneur. The
company is now looking for a brand extension into a new market with a brand name of RedBull
Flexi. The company will be offering the same products and services to the customers of the new
market where the brand is being extended but with providing several variants of the drinks. In
order to identify the target market of the entity STP model is utilised which is as follows
(Camilleri, 2018).
 Segmentation- This is a process of dividing the entire population of a respective
location into smaller groups and segmenting them. RedBull Flexi the new brand
extension will be segmenting its population through geographical characteristics by
standing the brand into new geographical location where it does not has its presence till
now.
 Targeting- The targeted audience and customer base of the new brand of Red Bull will
be the people belonging to the age group of 18 to 40. The reason behind targeting the
respective people of the mentioned age group is to keep the focus and attraction of new
younger generation on the offerings provided by RedBull (Vinuales and et. al., 2019).
 Positioning- The positioning factor focuses over using the brand into the new market
and showcasing its credibility to the potential targeted audiences. There are several
positioning strategies that are useful for businesses but in the present scenario online that
is social media with this link is the very attractive and productive strategy which will be
useful for RedBull Flexi to adopt for developing their presence in a new market and
amongst new target audience.

REFERENCES
Books and Journals
Camilleri, M. A., 2018. Market segmentation, targeting and positioning. In Travel marketing,
tourism economics and the airline product (pp. 69-83). Springer, Cham.
Vinuales, G. and et. al., 2019. Description and evaluation of an innovative segmentation,
targeting, and positioning activity using student perceived learning and actual student
learning. Marketing Education Review. 29(1). pp.24-36.