Red Bull Cool Factor
Red Bull energy drink has had wings since it took off 25 years ago.
The iconic Red bull drink as we know it today in the western world was originally found in Thailand in 1987 by an Austrian entrepreneur who was inspired when he realized that it could cure his jet lag.
The original drink called Krateng Daeng was first invented and only available in Thailand. The Austrian entrepreneur, Dietrich Mateschitz then in partnership with Chaleo Yoovidhva modified the energy drink to suit the taste of the western world and the iconic carbonated Red Bull energy drink was found and first started in Austria. In 1992, the product expanded to international markets, at first Hungary and …show more content…
For the convenience of students and women they have developed a Red Bull energy shot that can easily be carried in your pocket, handbag and backpack.
Their target market is very broad in terms of who feels tired at times or who might be in need of a boost mentally or physically. Ideally their target market is males between ages 14 - 19 or simply who wants the “cool” factor and to be seen as extreme and an adrenaline filled adventurer.
Size of Market
Red Bull have strong competitors who are constantly trying to gain market share off Red Bull it is evident that Red Bull’s current marketing strategy are working in keeping them a market leader. In over 100 countries worldwide, Red Bull currently dominates with approximately 70% – 90% market share in the energy drink market.
Red Bull cans are branded with the tagline ‘Vitalizes body and mind’ and it is well known by consumers that drinking Red Bull can alleviate tiredness. The final philosophy the product fits into is the marketing concept. ‘This is where companies product delivers target market satisfactions more effectively and efficiently than competitors.
Below market share 2012
Growth in sales
A total of 4,204 billion cans of Red Bull were sold worldwide in 2010, representing an increase of 7.6% against 2009. Owing to currency and price factors, however, company turnover increased by 15.8% from EUR 3.268 billion to EUR 3.785 billion.
Red Bull end of year sales were 329.5million