MARKETING RESEARCH

Marketing Research on Red Bull

Marketing Research on Red Bull

Introduction of Red Bull

Red Bull the energy drink was founded by 1984 and sold in the internationally in 1989. Red Bull is really famous for its taste and competitive. It is purely an energy drink. Red bull is available in more than 160 countries. Each year more than 4 Billion canes of Red bull are consumed. Red bull is different from all other drinks because it is purely an energy drink and is promoting the same image in the market (Ferrell, 2005,, 12).

Marketing Mix 7P's of Marketing

In order to determine a marketing strategy for a product, 7 P's are needed to be addressed prior to float the brand in the market. These magic P's are basically the analysis of the market i.e. Weather the product gets the required recognition in the market or not. The marketing mix provides marketers an in-depth analysis of the current factors. Following are the 4P's: (Ferrell, 2005,, 12).

Product

Price

Promotion

Place

Marketing Mix of Red Bull

Product

Red bull is an energy drink which boosts up the mental activity and is less carbonated. The ingredients are naturally driven; these ingredients are already present in the body of human. The target market of the energy drink is for young blood consisting of males and females from the age of 17- 36. The standard size of a single drink is approximately 8 to 8.4 ounces. According to the ingredients written on the back of the cane, a single drink contains 110 calories and 27.50 gm of sugar and majorly 80 milli-grams of Caffeine. Red bull is also offering sugar free drink. Sucrose majorly acts as a sweetener. The content of sugar is added in the same manner as it is present in the human body. On the other hand, caffeine acts as a catalyst and fastens the reaction whereas, it increases focus and add another boost to the senses. The major advantage of caffeine is that it helps in burning the body fats as well as it contains B-vitamins. Taurine acts as an antioxidant in the human body. The competitive edge which the energy drink has is the Vitamin B; it contains the vitamin B helps in increasing and enhancing the metabolic rate of the body (Buckley, 2005,, 32).

Price

The pricing decision mainly pillared on the consumers and their target market. The pricing of Red bull is more or less same around all parts of the country. On an average basis, the price of a single packet of Red bull which contains 24 cans cost around $66 i.e. a single can cost around $2.75; but this all depends on the brand image and the marketing expenses the company is utilizing on promoting it. The pricing strategy is directly related to the brand image. For example: price of Red bull and price of Sting (Buckley, 2005,, 32).

The price of Red bull is higher as compared to the competitors in the market in the same industry. Therefore the consumers are still purchasing the energy drink ...