Marketing Essay: Analyzing Red Bull Consumer Behavior and Strategies

This essay provides an in-depth analysis of Red Bull's consumer behavior, examining the factors that influence purchasing decisions and the marketing strategies employed by the company. The introduction highlights the dynamic nature of the business market and the importance of understanding consumer behavior for organizational growth. The main body delves into the cultural, social, and personal factors affecting consumer choices, emphasizing the significance of these elements for Red Bull's marketing efforts. The essay also explores the buying decision process, outlining the stages consumers go through when making a purchase. The analysis includes the application of the Katzenbach and Smith Model for effective team management. The conclusion reinforces the importance of consumer behavior analysis for enhancing profitability and productivity. The essay uses various references to support its arguments and provides a comprehensive overview of Red Bull's marketing approach and consumer understanding.

Analytical Marketing
Discussion Via an Individual
Essay
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INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7
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INTRODUCTION
Business market is inclusive of number of factors that keeps of changing on dynamic basis
and has negative and positive impact upon company sales and profitability. It is essential for an
organisation to evaluate these factors along with its impact upon company growth (Pasquinelli
and Vuignier, 2020). Present report has been conducted on Red bull a leading brand that offers
energy drinks to customers. In this report formative discussion has been conducted on customer
behaviour which is essential for company to evaluate in order to ensure more growth and
profitability in respective industry.
MAIN BODY
Present report analysis has been conducted on Consumer Behaviour
Red bull is an energy drink brand which was founded in the year 1987 and offers different
type of products. This company is having highest share in market as compared to any other
energy drink in the world. In addition to this, it has been identified that, this company provides
videos benefits in their drinks especially in terms to increase performance. Their product duly
claims that it improve alertness, concentration and reduces fatigue and tiredness. It has been
determined that in today’s business environment organisations are facing intensive or aggressive
competition. Red bull is facing competition from competition from its competitors like Monster
beverage, The Coca-Cola Company, Pepsico and more. These organisations are also attracting
customers with unique features in their products and services that. It has been identified that
behaviour of customers are also changing in a dynamic manner that can affect competitiveness of
Red bull in market segment (Nelson, Walsh and Cui, 2020). Thus, in order to ensure more
competitiveness and higher growth in market it is essential for Red bull to evaluate consumer
behaviour in a well defined and effective manner. Furthermore it has been identified that for a
leading brand like red bull it is important for them to identify these elements. It can help in
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influencing behaviour of customers thus with the help of analysis of customers company can
ensure more profitable advancements and profitability in respective industrial segment. It has
been identified that there are three most important factors which company can influence
behaviour and needs of customers, Cultural factors: Culture is most important aspect for every
society and plays most important role for in organisation. It has been analysed that is most
important cause of behaviour and personal wants. According to the analysis it has been identified
that influence of this factor upon buying behaviour of customers many varies from one graphical
location, region or country to other, as Red bull is worldwide recognisable brand. Thus, it is
essential for marketers to carefully evaluate culture of different region and countries in order to
identify customer’s needs and demand. This will significantly help company to ensure growth
and development. Social factors: It is also one of the most important factors that play an
essential role in influencing consumer behaviour. In context to this factor that are some elements
like reference group, role and status and families. In context with reference group they have
significant potential to form a person attitude or behaviour. Influence of this group differentiates
across brands and product. It is essential for brand like red bull to connect certain amount of
image with consuming the drink. While if it is talked about family, it is one of the most effective
factors that influence consumer behaviour, for example if in the family older brother or father is
consuming Red bull it will significantly influence younger kids (Glozer and Morsing, 2020).
While at last in context with roles and status it include persons with club, family groups,
organisation etc to which he/she belongs. Consumer behaviour can be influenced by status and
role, as if a person living in high status never settles for anything cheaper. Personal
Factors: This factor is having significant efficiency to affect behaviour of customers. It involves
element like lifestyle, age, personality, occupation and income estimation of an individual. In
terms with economic situation and lifestyle it has been identified that if an individual associate
products as per according to reputation and image the affects their behaviour, as person with high
standards mainly prefer costly drinks as compared to cheaper competitors. While in context with
occupation and age it has been identified that students have consideration towards those products
that offers something unique. Thus according to the above mentioned analysis it has been
identified that it is essential for Red bull to effectively consumer behaviour and effective manner
in order to serve them according to the needs and demands. It will significantly enhance
company attractiveness and profitability in market. Along with this, Red bull can also take
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advantage of buying decision process that mainly includes five steps. With the help of this
analysis company can effectively evaluate behavioural conduct of customers and can further
influence them in an effective manner. With the help of this model Red bull can identify
behaviour of customers according to five different levels and can be further influence them
accordingly.
Furthermore, it has been evaluated that in order to effectively develop, manage and lead
team with the use of The Katzenbach and Smith Model team can be managed in an effective
manner through which Red Bull can accomplish their aims and objectives in a well define and
effective manner. According to this model, it is essential in a team to have three important
components that are commitment, skills and accountability. All these components will lead
towards accomplishing team goals in effective manner. However it has been underlined that in
this model it is required for team leaders to provide continuous training to team workers that can
take more time. It has been evaluated that by managing team Red Bull can effectively enhance
satisfaction level of customers and can analyse their behaviour in a well define and effective
manner.
Problem recognition: It is a process in which a consumer realise that they require
something. This realisation further get translated into purchasing, in this is essential for Red bull
select more number of target markets and determined the need of customers with help of
extensive market research. In this company is required to identify those individuals who are
searching for the products that gives extra boost in their life for example athletics, students and
business people. This will create significant advantage for Red bull to enhance their profitability
and sales. Information search: After evaluating need customers further move towards
determining significant solution or products through which they can satisfy their current need.
This state is also defined as information search phase in which they obtained information from
different sources like family, friends, advertisements, website, salesperson, mass media. In this it
is essential for Red bull to effectively conduct marketing and advertisement activities with the
help of digital marketing, website, mass media and more in order to increase awareness among
more number of customers towards their products and its features. It will allow Red bull to
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ensure more consumer base in a well defined and effective manner. Evaluation of
alternatives: In this stage customers are aware of their need in an effective manner and search
for different alternatives in order to fulfil their choice. Customer select product by evaluating
them on different parameters and features and then comes to make their final decision. At this
stage it is essential for Red Bull to offer more attractive features comparatively to its rival and
provide customers with number of choices like flavours and budget (Hutabarat, 2020). It will
enhance company probability to get selected. Purchase decision: This is the final stage of
consumer behaviour process in which customers actually make the decision by considering
different types of brands, mode of payment, quantity and factors. It has been identified that
customers evaluate the product performance, worth of the product and evaluate that product may
cause discomfort or harm and other factors for better replacement. At this stage it is essential for
Red bull to display special features in order to distinguish their products from other competitors
and in a sense that chances to get selected. Post-purchase behaviour: The behaviour of
customers after making purchases is mainly defined as post purchase behaviour (Jung and Jeong,
2020). This is one of the most important stage in which it is essential for Red bull to determine
experience of customers with their products. For it is essential for company to take feedback
from customers on different social media platforms and determine their level of satisfaction.
Along with this company can also ask for suggestions in order to enhance loyalty of customers
towards their brand. It will not only enhance company goodwill in market segment but can also
maximize their overall sales and future growth development in a well define and effective
manner.
Thus according to the above mentioned analysis it has been identified that consumer
behaviour analysis is one most important aspect for a company before formulating marketing
strategies. With the help of this analysis company can not only undertake important decisions
like selecting price of their product, place, segmentation, targeting and positioning but can also
assure more success and profitability.
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CONCLUSION
According to the above mentioned analysis it has been evaluated that consumer behaviour is
one of the most important aspect that have tendency to affect overall profitability and
productivity of an organisation. Thus, it is essential for a company to effectively evaluate
behaviour of customers with the help of different model like buying decision process and more.
It will enhance company profitability and sales in an effective manner.
REFERENCES
Books and Journals
Pasquinelli, C. and Vuignier, R., 2020. Place marketing, policy integration and governance
complexity: An analytical framework for FDI promotion. European Planning Studies,
pp.1-18.
Jung, S.H. and Jeong, Y.J., 2020. Twitter data analytical methodology development for
prediction of start-up firms’ social media marketing level. Technology in Society, 63,
p.101409.
Hutabarat, J., 2020. The Decision of Selecting Online-Store Alternative in Marketing Cosmetic
Products Using Analytical Hierarchy Process (AHP). International Journal of Latest
Engineering and Management Research (IJLEMR), 5(2), pp.24-28.
Glozer, S. and Morsing, M., 2020. Helpful hypocrisy? Investigating ‘double-talk’and irony in
CSR marketing communications. Journal of Business Research, 114, pp.363-375.
Babin, B.J. and Krey, N., 2020. Meta-analytic evidence on personal shopping value. Recherche
et Applications en Marketing (English Edition), 35(3), pp.124-132.
Sharma, P. and Nayak, J.K., 2020. Understanding the determinants and outcomes of internal
reference prices in pay-what–you-want (PWYW) pricing in tourism: An analytical
approach. Journal of Hospitality and Tourism Management, 43, pp.1-10.
Zhang, C., Wang, X., Cui, A.P. and Han, S., 2020. Linking big data analytical intelligence to
customer relationship management performance. Industrial Marketing Management, 91,
pp.483-494.
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Nelson, C.A., Walsh, M.F. and Cui, A.P., 2020. The role of analytical CRM on salesperson use
of competitive intelligence. Journal of Business & Industrial Marketing.
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