Red Bull Marketing Strategy Essay

trade Unit 3 Marketing Of sanguine hoot Introduction As part of my marketing assignment, I leave alone be looking at the marketing of a consumer extinctput or service. Therefore, my chosen product is bolshie bull, which is an muscle imbibing. I have assumed that my product is targeted at people that have similar situations to the ones used in advertisements for red bull. I will be looking to spot if the strategy used is establish on the principles of marketing O Understanding consumer wants to become successful, it is zippy for a problem to understand the wants and ask of its target audience.For example the needs and wants of a target audience for a high street retail salt away dep ratiocination upon the age, style and income of its customers. O Understanding and keeping ahead of contender businesses must consider their agonistical markets as well as the products and prices provided by their competition in order to gain customers and provide a fracture standard of ser vices and totals than other companies. This can be done with devising strong, different marketing strategies and by selling a product that is unique and efficient.O Communicate effectively with its customers to satisfy customer expectations converse with customers is vital for a business to understand the wants and needs of their customers. A slap-up relationship must be continuously created between a business and its customers to maximise its success. O Co-ordinate its functions to achieve marketing aims co-ordination of functions is key to talent and therefore success. To maximise the success of a business, all of its marketing aims should be met. O Be aware of constraints on marketing activities.I will be also looking at the external impact on the marketing decisions, how the appropriate strategy is decided upon and how they are developed in order to meet consumer needs and the reliability of the different marketing models. departure bull comes in two types, original and su gar free. This can be purchased at ? 1. 15 for 150ml Features of Business Marketing O Consumers are of vital importance. cherry bull has a far greater chance of being a success if it satisfies consumers needs. Marketing must be aimed at determination out what these needs are and making sure that blushing(a) bull meets it requirements.O Marketing is a business philosophy it is not full a series of activities such as advertise or selling, only more a way of thinking about how to satisfy the consumers needs. O Marketing affects all aspects of a business. A production department would not continue making a product that does not satisfy the needs of the consumer at whom it is aimed. O Marketing is not just about selling. interchange is only one part of the marketing process. Before selling Red bull, they must carry out market research. O Marketing and advertising are not the same advertising is just one of a number of tactics used by marketing departments.O galore(postnominal) b usinesses regard profit making as their main objective. Firms in competitory markets must make a profit in the long accord to survive. Marketing must therefore satisfy their customers wants profitably. O Marketing involves make relationships with the customers of Red bull profitable businesses are often built upon good customer relations. This may be dealing with their complaints in a mensurable and considerate manner. O Marketing is a process that is on difference all the time, it does not have a start or an end as you can see below. Red bull must be prepared to respond to the changes that take place.The marketing process Red bell ringer Gathering Market Information AO1 My reason for choosing Red counterfeit is because the drink has become incredibly successful at a very competitive advice. By choosing Red dogshit I will find out what marketing strategies has made Red Bull so successful. What is Red Bull? Red Bull started off as an energy drink that stimulates forefront a nd corpse. After becoming an international icon, Red Bull went on to frequent extreme sports such as F1, sailing, surfing, bmx-ing, and many other extreme sports. Red Bull is a non-alcoholic drink with key ingredients, which have a proved revitalising effect on mind and body.Red Bull is a functional energy drink and therefore unjustly classified among the velvety drinks. The Red Bull effect results from a combination of two indispensable substances and vital metabolic transmitters the amino acids taurine and glucuronolactone with stimulating caffeine, vitamins and carbohydrates. The effectiveness of Red Bull has been proven by a large number of scientific studies. Its function is not to quench thirst, but to improve endurance and alertness, to increment feelings of well being, to support the metabolism in short to stimulate body and mind. The HistoryIn 1982, Dietrich Mateschitz came up with the idea of marketing energy Drinks, which were thence already quite widespread in So utheast Asia while school term in the bar at the Mandarin Hotel in Hong Kong. In 1984, Mateschitz founded the union known as Red Bull. In 1987, he started selling the energy drink Red Bull on the Austrian market. Red Bull got off the ground in no time, giving people wiiings proper(ip) from the start. In 1992, Red Bull touched down in its premiere foreign market, Hungary and in 1995 it was launched in the UK, which is now one of its largest markets.