Principles of Marketing: A Comparison of Lucozade and Red Bull

Principles of Marketing
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Comparison of target market:......................................................................................................3
The marketing mix:......................................................................................................................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1
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INTRODUCTION
Principles of marketing help marketer to understanding the key element which effect the
marketing strategy of the company, these key element include product, price. Promotion and
place. These feature of the marketing mix allow company to understand how they can use these
strategy for the purpose of marketing (Thabit and Raewf, 2018). This study is based on Lucozade
energy drink and Red Bull energy drink both the company use principles of marketing to
understand their potential market. In this report we will discuss target market of Lucozade and
Red bull. Later we will discuss and compare four mix of marketing of both the company to
clearly understand the principle of marketing.
MAIN BODY
Comparison of target market:
Lucozade drink: target market means the location or area where a company wish to sell their
product or service, every business sector have their own market who they target. Target market
simply means if the car company want to sell their cars then they will target car buyers not
shampoo buyers, this is understanding the target market where the company actually find the
right customer. The Lucozade drink target their market after segmenting the customer base, this
company tend to divide their customer into various age group and according to gender. The
Lucozade have been targeting young age men who are approx. 18 to 39 age, the marketer of the
company only bid to those audiences (Išoraitė, 2016). The segmentation process of this company
allow them to segment those audiences who willing to better their lifestyle, the marketing
campaign of the company also target labour who want energy drink while working on a tough
day. In marketing, when the marketer segmented their audience according to the age, gender,
income level and taste and preference then they can easily target their audience. The Lucozade
have one of the most successful marketing strategies who win the target market. The company
know the details and in formation about the customer which include location and customer bases,
the market of the company use these information for the promotion of product to the right
customer in the right market.
Red Bull drink: Red Bull is one of the most successful energy drink provider company who
have effective marketing strategies to pull the customer. This company mainly target
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