Marketing – Red Bull

Marketing

Red Bull

Dietrich Mateschitz founded Red Bull in 1984 after

discovering the widespread popularity of tonic

drinks in the Far East. He developed the Red Bull

Energy Drink, launching the product on the

Austrian market in 1987. Since then, Red Bull

has launched a range of products, including Red

Bull Cola in 2008 and Red Bull Energy Shots in

2009. Today Red Bull has annual sales of around

4 billion cans in 160 countries. Red Bull has a

distinctive approach to marketing. It uses a

progressive marketing strategy. This type of

strategy aims to constantly evolve and develop

the brand. This approach allows Red Bull to engage with consumers using new and

exciting channels of communication. In recent years social media has become a vital

marketing tool for many organisations. Its increasing popularity, predominantly with young

audiences, has had a huge impact on modern marketing techniques. Digital and social

media campaigns are integral to Red Bull s marketing strategy.

The role of the marketing function

To meet the needs of its customers, every organisation seeks a distinctive marketing mix.

This is often referred to as the 4Ps. It involves focusing on:

· product the specific features and benefits of the product

· place where and how the product is sold

· price setting the right price in each market

· promotion using the most suitable form of promotion to reach customers.

For example, the marketing mix for Red Bull Energy Drink is based around:

· a distinctive product - the taste of the product is unlike any other, it also has a

functional effect in comparison to other soft drinks

· it is easy to obtain as it is sold in a variety of places including retail outlets and food

and drink establishments

· Red Bull uses a premium pricing strategy. The product is priced above that of

competitors products. Consumers will pay a premium for Red Bull due to the quality of

the product and the product s benefits. This is reflected in the...