Marketing Plan Redbull

Red bull
Marketing Plan LO3

If we don’t create a market, it doesn’t exist.
(Dietrich Mateschitz, Red Bull’s founder)
Business summary:
‘Red bull’ is an energy drink brand worth 10.4 billion dollars. It offers its products in over 171
countries with its headquarters in Fuschl am see in Austria. Red Bull’s mission is to be the first
choices of a large group of people who want physical or mental enhancement by consuming a
beverage and their moto is “it gives you wings” which clearly indicates how they market their
product as an instant way of becoming more productive.
SWOT analysis:
Red bull’s marketing team is always looking for ways to adapt to the latest trends in its market in
order to better approach potential customers. Since it is consumed by a varying group of people
with varying interests, it needs to be more dynamic and think of various ways to further strengthen
the current brand image and adapt to better changes in its weak points that might draw customers
away.
Strengths- it is a powerful and well recognised brand with its unique market and an energy drink at
its core so one of the best things it does is always invest and close itself in with extreme sports,
concerts and physical activity which emphasis to the consumer that it fuels you with a lot of energy
to be able to do such things.
They also focus on advertising their product in such a way that they don’t seem like they’re pushing
the consumer to buy it as a want, but instead focusing solely on the benefits of their product which
make it seem as a need. The content they publish along with their ads focus on the enjoyment of the
reader through the activities which “redbull” leads to rather than showing the drink itself. As a result
their audience begins to think more about those activities and see red bull as an essential means to
be able to do them.
Weaknesses- limited product range, whereas other food and beverage companies look to diversify
their product range; redbull’s sales are entirely dependent on just one drink with a sugar-free
variant. This puts the company at high risk just in case the energy drink market starts to lose
customers, such as due to changing government policies or a shift in public perception of energy
drinks. In addition it also means they lose out on selling different products and increasing overall
sales to a loyal customer base.
High price, redbull sells its drinks as a premium product with only a limited number of competitors
which allows them to be the price setters for the market. This allows them to sell it at a higher price
and gain more profit but it also means they lose out on potential customers who would rather buy a
cheaper alternative or just switch to a completely different type of drink.
Opportunities- new markets, redbull operates successfully on a global level and as economic growth
changes the countries in Africa and asia day by day; there are newly emerging markets in which
redbull could use the same strategies as before and increase its sales.
New product line, since redbull generates its core revenue from only one beverage it could
introduce new products which would appeal to newer customers and their previously brand loyal
customers. It would also reduce the threat of a major bankruptcy due to industry dependence.
Introducing healthy options which appeal to a wider range of customers as more and more people
grow health conscious would attract a higher number of sales and revenue as redbull conations a lot
of stimulants which many people consider unhealthy. This could be done by introducing other
energy drink variants which are made up of natural stimulants or organic chemicals.
Threats- competition, as is the case with all globally influential brands; redbull is facing growing
competition day by day. And since there is not that much variation between the contents of energy
drinks, it allows other brands to easily copy its product with a slight taste change and offer it for a
lower price, cutting redbull’s market share.
Loss of consumer interest, since the beginning of redbull energy drinks they have only ever offered a
single product, while that does create a strong product image over the years which has a loyal
customer base; it also means that it loses out on attracting new customers and giving the previous
ones new incentives to keep buying from the brand.
Health regulations, due to the growing health conscious mind-set of many people and growing
safety regulations; sales of redbull have been effected in a few countries. Drinks containing a high
amount of sugar are taxed higher, which reduces the overall revenue for redbull, while hazardous
labelling and prohibitions on under age sales also make it harder to appeal to customers who have
cheaper and more easily accessible alternatives.
Business initiatives
Redbull aims on maintaining its position as the global leader in energy drink sales and a unanimously
recognised brand that is almost interlinked with all the extreme sports and action filled activities
going on. To do this I have come up with few initiatives that may help them secure and increase their
market share.
1. Try and offer a varied range of products that appeal to wider customer base. This could be
done
2. Offer the product at new locations with different groups of people to attract a new group of
consumers.
3. Focus on environment and sustainability
Target market:
Industries
(industry 1)
(industry 2)
Buyer personas:
(buyer persona 1)
(buyer persona 2)
Competitive analysis:
(company 1)
(company 2)
(company 3)
Market strategy:
o Product
o Price
o Promotion
o People
o Process
o Physical Evidence
Budget:
Marketing channels:
https://pestleanalysis.com/swot-analysis-of-red-bull/

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Red bull

Marketing Plan LO3

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