Principles of Marketing Assignment - Red Bull

Added on - Nov 2020

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PRINCIPLES OF MARKETINGRed bull is founded by the Dietrich Mateschitz in 1987. Red bull is the energy drinkwhich os first time sold in the Australian market. Red bull is the energy drink which is marketedto truckers, workers, and farmers(Yardeni and, 2017). The drink has a mix of caffeine andta-urine to make the people more energetic. It is inspired by the functional drinks of the Far East.Red bull, has the highest market share in any of the energy drink in the entire world as its6.790 billion of cans were sold in a single year. Red bull have market share of 89.3 % and alsothe volume market share of 73.1%. It posts the record of the profit 501 million euros in the year2015 which further increase to the 35 % according to the magazine trends which clearlyindicating that company has increasing trend of sales and profits(Wiggers and, 2019).The following graph depicting the actual target market and market share of the Red bull..SegmentationIt is basically activity of divinglarge group into sub group onbasis of some factors.Red bull has segmented theirproduct on the basis of lifestyle, personality, attitudetowards the product, Occasionand the loyalty status(Farris,2017).TargetingFor extending the brand, targetmarket for the new protein barmust be the place wherepeople of young generationwho spends more of time inthere higher education studiesso that to stay energetic theyneed to consume the bars,travelers, and young adultPositioningThe positioning strategy whichred bull is using is completelydepends on its image andproduct differentiation. Asbrand image of the red bull isthe strongest competitiveadvantage(Melrose and Bell,2018). They are focusing onsponsoring rain and sport
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