Marketing Mix Strategies of Red Bull and Lucozade Energy Drinks Report
VerifiedAdded on 2021/01/03
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AI Summary
This report provides a comparative analysis of the marketing strategies employed by Red Bull and Lucozade, focusing on their application of the marketing mix (4Ps: Product, Price, Place, and Promotion). The report utilizes secondary research to evaluate how each brand targets its market, develops its product offerings, sets its pricing, distributes its products, and promotes its brand. The analysis examines the target markets of both companies, highlighting how Lucozade initially targeted mothers and athletes before expanding to a broader demographic, while Red Bull focused on young, active males and has expanded its reach. The report explores the product features, pricing strategies, distribution channels, and promotional activities of each brand, concluding that while both companies effectively utilize the 4Ps, Red Bull has achieved greater success through innovative marketing tactics and content creation. The report also includes references to relevant academic journals and online resources, and includes a visual representation of the product placement.
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