Red Bull Situation Analysis
This document is part of the requirements of the Foundations of marketing course, the University of Newcastle. It is the first part of the marketing plan for Red Bull, the leader of energy drinks market.
The business overview, current situation analysis and marketing objectives are reviewed in this document as the following briefly details.
The current objectives of the Red Bull are to stay in the same position as the leader, to be the brand icon of the extreme sports and to expand the existing markets. Red Bull has used some strategies to reach these goals, such as extending the product line and being the extreme activities sponsorship.
Since Red Bull positioned itself as a functional drink, the competitors of Red …show more content…
And it also provides highly efficient and profitable manner services. (Red Bull final report, 2011)
“Red Bull gives you wings” and “Red Bull vitalizes mind and body” are current tagline of Red Bull. They aim to ‘spread their wiiings’ over the world. The current objectives of Red Bull are to maintain the position as a leader in energy drinks and to be the brand icon of extreme sports worldwide as well as expand the existing markets.
To achieve the goals of maintaining the leader position and expanding the existing market, Red Bull has extended the product lines. They launched the new products which are Red Bull sugar free for health-concerned consumers as well as Red Bull Energy shot which is concentrated Red Bull Energy Drink. Red Bull Cola, one of the family members, has been released for those who would rather drink Cola to energy drinks (Cirillo, 209). The products are also available in various sizes, which are 250 ml., 355 ml. and 473 ml.
To be the brand icon of extreme sports, Red Bull has been the main sponsorship of high-adrenaline activities like mountain biking, BMX, motocross, Formula1, rally, skating, windsurfing, snowboarding, cliff-diving, and also breakdancing. Moreover, two Formula1 teams, four football teams and two ice-hockey teams are now owned by Red Bull (Boome, 2011).
Red Bull spent more than 25% of revenue for buying, creating and getting their name spread on all the extreme sports. This makes Red Bull different from other energy