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 it is not selling a beverage, but it is selling a ‘way of life’. With their catchy slogan, ‘Red Bull gives you wings’; Red Bull has dominated the energy drink markets of a decade now.
These strategies are not doctored for different …show more content…
Red Bull’s pricing strategy has been beneficial to the company. However with the increase in international competitors, Red Bull might have to start considering lowering their prices by just a bit in certain markets.
Red Bull’s product placement is well developed and has a solid foundation. They have a specific distribution strategy which works smoothly for them. They target small distributors and small retailers which help spread word to local consumers. As the demand increases they offer their product to bigger stores. One change they could implement into their product placement is to have a Red Bull store or ‘Red Bull Corner’ in a shopping mall or public area. It would be an outlet to sell Red bull drinks and merchandise as well as passes to Red Bull sponsored events. This would also act as a marketing tool, catching the eye of passer-bys.
Red Bull’s promotion techniques are varied and are plentiful. They have a vibrant package for their drink and engage in smart and consumer sensitive advertising. They are well aware of their type of consumers and make an effort to attract a particular crowd. Red Bull already spends heavily on their marketing and promotion (about 30% of the revenue) and I believe no changes should be made in this area.