Red Bull Marketing Plan - 1809 Words

Table of Content Introduction 2 Executive Summary 2 Current Marketing Situation 2 Market Description 2 Benefits and Product features 2 Product Review 2 Competitive Review 3 Distribution Review 3 SWOT Analysis 3 Strengths 3 Weaknesses 3 Opportunities 3 Threats 3 Objective and Issues 4 Objectives 4 Issues 4 Marketing Strategy 4 Positioning 4 Product Strategy 4 Pricing Strategy 5 Distribution Strategy 5 Marketing Communication Strategy 5 Marketing Research 5 Marketing Organization 5 Action†¦show more content†¦SWOT ANALYSIS Strengths The strong marketing strategy, which is the â€Å"buzz-marketing† strategy, which we have, is one of its main strengths because Red Bull is becoming a wide known brand all over the world. Weaknesses Red Bull is an undifferentiated product from competition. A lot of energy drinks are similar to Red Bull and this may affect us. Also, a lot of other energy drinks prices are lower than Red Bull which puts Red Bull a step behind some other energy drinks. Opportunities Red Bull has a large market share in the energy drink market and it is one of the most popular energy drinks in the world, this may help us to increase the demand for the product and maybe develop a new product within the same brand. Threats The energy drink market is a growing market and a lot of companies are entering it as they have found it to be attractive and profitable. Some of these companies are growing rapidly and they present a threat to Red Bull. One of those companies that are getting stronger by time is Power Horse. OBJECTIVE AND ISSUES Objectives: We set some hard and ambitious but achievable objectives. Our objective is to increase our market share, which is about 60% into 75% in two years and to maximize our profits. After that, we are aiming to introduce a new category of our energy drink into the market. Issues: our main issue is competition and this is why we should increase our marketing strategies to keep our brand image and to drive awayShow MoreRelatedRed Bull Marketing Plan2846 Words   |  12 PagesRed Bull Marketing Plan Introduction Red Bull, the iconic pioneer of the late 20th century energy drink movement, is enormously successful and popular. Everyone has had days where a cup of coffee seems woefully inadequate, and beverages such as Red Bull â€Å"give you wings†, as their slogan promises, and offer a refreshing lift to help people conquer their overfilled schedules and endless meetings. However, with only one flavor and a seemingly narrow target demographic, is Red Bull really capitalizingRead MoreRed Bull Marketing Plan7856 Words   |  32 PagesHow Red Bull woke up the teen market It looks (and tastes) like medicine, but it still conquered the soft drinks trade. Now the edgy pick-me-up is moving into the grown-up world of motor racing. 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