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Principles of Marketing : Lucozade Energy

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Added on  2021-01-02

Principles of Marketing : Lucozade Energy

   Added on 2021-01-02

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Principles of Marketing
Principles of Marketing : Lucozade Energy_1
Principles of Marketing : Lucozade Energy_2
INTRODUCTIONMarketing consist of all the strategies and the tactics that are used for identifying, creating andmaintaining the satisfying relationship between the company and the customers. This results increating the value for both the marketer and the consumers. It is a social and the managerialprocess through which groups and the individuals obtain what they demand to satisfy their wantsand desire. The principles of marketing involve the 4Ps of marketing mix that are product, place,price and promotion. For implementing or execution of the marketing strategy effectively andefficiently, the use of these four components should be adequately and optimally. The presentstudy is based on the two brands that include Brand A as Lucozade Energy and Brand B as Redbull, where the former is the Japanese company and the latter is the Australian company and bothdeals in the same product range that is energy drink. Furthermore, the study describes theprinciples of marketing of both the brands and their target market. LO1. Analyzing the effectiveness of the principles of marketing for the company.Lucozade EnergyRed Bull Target marketThis brand targets all the youthor the young segment and alsothe sports persons, athletes andthe gym trainers as theyrequire energy drink forcontinuous performing withefficiency. The target marketof the Lucozade is not as wideas the Red bull. They generallyfocus on high as well asnormal income class people.Red bull targets the sportspeople by using their tagline as“Red Bull gives you wings”.They organize several sportsevents and sponsor team. Suchevents include surfing,mountain biking, skating,windsurfing, BMX andmotocross. They endorsevarious celebrities and sportsathletes. Specifically theytarget high income class group.ProductProduct means an item that issold to satisfy and to meet theneeds and want of thecustomers. Lucozade energy isone of the variant of itsproduct category. It is the softThe idea of the red bull camefrom the Kraeting Daeng,which is considered as thenon-carbonated drinkoriginated in Thailand. Itcontains the ingredients that1
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