Marketing Strategy Of Red Bull - 952 Words

Introduction In 1984, after discovering the tonic drinks in Thailand. Red Bull developed the Energy Drink, and launching Red Bull energy drink on the Austrian market in 1987. Since then, Red Bull has launched a range of products in 167 countries, it branded itself as a market leader and premium products. Red Bull is a high road brand, it uses a progressive marketing strategy. This type of strategy aims to constantly evolve and develop the brand. The High Road Brand: The Energy drink market is dominated by premium brands, Red Bull, Monster, and Rockstar, these three brands represent 92% of the U.S. energy drink market share. This market is considered as profitable market. Red Bull leads the market and it’s a high road brand. Premium Category: Red Bull launched in 1987, it not only created a new brand, and it created the energy drink market. Red Bull not only tastes different, it has a noticeable effect on the drinker. Red Bull creates its brand equity for its products by making them memorable, easily recognizable and superior in quality and reliability. The Mass marketing campaigns also help to create brand equity. Red Bull uses a premium pricing strategy. It is priced above the price of other competitors. Consumers tend to be loyal and willing to pay a premium for Red Bull due to the quality of the product and the product’s benefits. This is reflected in the fact that it is the world’s best-selling energy drink. Market Leader: Red Bull has created the global market forShow MoreRelatedRed Bull Marketing Strategy979 Words   |  4 PagesRed Bull Mission Statement: To be the premier marketer and supplier of red bull in Asia,Europe and other parts of the globe. We will achieve this mission by building long-term relationships with the people who can make it become a reality. 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It also believes that it is not just selling a beverage, but instead it is selling a ‘way of life’. Red Bull also uses a catchy slogan as ‘Red Bull givesRead MoreRed Bull1107 Words   |  5 Pagesyou characterize Red Bull’s overall global marketing strategy (global, glocal or local)? Ans 1 – It is my opinion that Red Bull has a global marketing strategy which it implements in all the markets in enters into. Red Bull has built its name as a trendy energy drink, catering to young adults (aged 16-29), young urban professionals and post secondary school students. Also it targets young club-goers and private parties to spread its name as an active and stylish drink. Red Bull believes that itRead MoreRed Bull: the Drink for Generation Y970 Words   |  4 Pages1. What is the marketing mix for Red Bull? What markets does Red Bull attempt to reach? How do marketing mix elements and target markets combine to form the firm’s marketing strategy? 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Red Bull believes that it isRead MoreRed Bull735 Words   |  3 PagesCase: Red Bull Red Bull’s success is a result of a great marketing strategy including product placement and creating brand loyalty. Success is also a result of avoiding marketing myopia. Red Bull accomplished this by claiming to satisfy more than just your thirst. Dietrich Mateschitz took the energy drink concept of Krating Daeng in Thailand and broadened it usage by also marketing Red Bull as a sports drink, functional drink, and nutritious drink. Their success was also stemmed from