Red Bull Case Study - Soft drink Essay Example
1 - Red Bull Case Study introduction. How will you characterize Red Bulls overall global marketing strategy (global, glocal or local)? * Red Bull’s overall global marketing strategy is kind of glocal because on the Global level, Red Bull distinguishes itself from a lot of the beverage market by only offering their product in one size, 8. 3 ounce or 250ml cans, which is smaller than typical soft drink. The cans are small, sleek vessels with distinctive printing with more of blue and silver color with the bull’s logo on it, which have been more of described as the ‘European’ styling.
With the exception of warning labels, the can design does not vary from country to country unlike other beverages and which further helps in uniformity in the marketing of the product. It also only offers two variants worldwide i. e. Original and Sugar-free which are same through all the countries. Seeing locally Red bull targets the small distributors instead of targeting largest distributors who have larger reach. And further these distributors become the exclusively Red Bull distributor. Apart from this Company also goes to hire the teenager’s or college students and giving them vans for distributing and marketing the product.
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These students were given the post of student Brand Manager. Initially Red Bull gave its energy drinks for free to the pubs and clubs only for the promotion even before the launch of the product. 2. Red Bull is available in large cities in India across supermarkets, restaurants and bars. Evaluate the opportunities for market expansion in India. * The growth strategies that seem to offer the most likely opportunities for Red Bull’s future are their expansion into less extreme sports and the femalepopulation.
Because Red Bull is an energy drink, most consumers think that its primary purpose is to boost the energy of those who are hammering it out on thefield, court, or wherever the action m ay be. However, Red Bull can be used as asimple pick me up when you’re feeling tired or just worn out. This can occurmostly in the work environment. By carrying a can of Red Bull, you can boostyour energy level when it seems you’re not going to make it through the shift. Similarly, Red Bull’s initial target was not towards women.
Currently, Red Bull working on expanding their product to women who, just like men, can enjoy theboost Red Bull gives you. With the expansion of their target market, along with new advertising techniques, Red Bull can better promote their product and keep up with the competition. 3. Which changes would you suggest for Red bull’s future global marketing mix, in order to meet the future challenges? * Current price of the product is really very high as compared to the market. Change in the pricing strategy would be better as the price compared to the other competitors is three times higher.
Lowering the prices will attract more consumers. The pricing of the product should be reconsidered without effecting or compromising on the quality of the product. And under current marketing strategy, the distribution channel should be changed to the large distributers instead of taking the smaller ones. Hiring the larger distributors will take the product to the large masses as there are lot of untapped places where the product has low or almost no reach. This change can help the product with great recognition and higher sales.
Also by introducing more television commercials will benefit the product as more population nowadays is on television and internet. Red Bull is one beverage which has only two variants- Original and Sugar-free. By getting in more flavors into the market like cola or orange with the same energy boosting power will really take the brand flying high. 4. Argue for the most relevant segmentation (screening) criteria to be used in the International Market Selection (IMS) process. * The most relevant segmentation or screening criteria to be used in the IMS process for Red Bull would be Psychographic Segmentation. Psychographic