MARKET COMMUNICATION!

Market Communication!

Table of contents

Task One: The Tasks of Marketing Communications3

Marketing communications4

Organization analysis by uses word-of-mouth communications5

Marketing Integration6

Product6

Price7

Place (Distribution)8

Corporate, social and ethical responsibilities8

Psychosocial Meanings9

Recommendations11

Task Two: Developing Channel Relationships14

Task Three: Sales Promotion and Customer Loyalty21

Integration25

Differentation25

Added Value26

Reference28

Appendix30

Market Communication

Task One: The Tasks of Marketing Communications

The majority of managers identified brand equity as a key asset for successful business performance. Through marketing communication strategies a company attempts to create, maintain and increase a sustainable competitive advantage on product attributes in the consumer's mind (Belch & Belch, 2007). Brand names like Coca-Cola, Apple, Red Bull and Microsoft are outstanding examples in achieving such a competitive advantage relative to their competitors. Today nearly everyone is aware of these brands. Who has not heard of Red Bull, the silver-blue canned energy lemonade? But the beverage is much more than a caffeine-loaded drink. Meanwhile, the brand has become a billion dollar trademark (Interbrand, 2008).

This report of integrated marketing communication report on Red Bull was written as a final assignment for the integrated marketing communication module.

This report will be looking critically on evaluating the role of integrated communications in the success of Red Bull, evaluate on the statement that Red Bull is a way of life, and provide a future marketing plan for the company.

The 4P's of marketing will be the basis of evaluating the role of integrated marketing communications further discussions will be based on the wheel of integrated marketing communications, then it takes a look at the branding process through the strategic dimensions of branding, and finally used the SWOT analysis to develop a plan for future integration of marketing communications.

The world's number one energy drink and category founder Red Bull is an extremely lucrative business. Although the canned drink is the only product the company produces, although they only sell it in very small portions, and although these mini-cans have an exorbitant price, the prestigious, functional drink can record an enormous number of loyal customers aged between 15 and 25 (Kumar et al., 2004). This is especially remarkable as that segment, usually, is neither a highly faithful customer group, nor has great financial means on its disposal. And yet, the company has been noting down incredible profits for many years.

Correspondingly, the following expressive figures illustrate clearly what a strong business the Red Bull GmbH is: Today, sales are registered in more than 100 countries, and the company progressively and successfully targets new markets around the world. In 2004, they gained an increase of profits of 41 percent in the USA, 53 percent in the Middle East, 44 percent in Australia and even 328 percent in Central America. Thus, Red Bull had a turnover of 1.261 billion Euros in 2003 (Nimmervoll, 2004). Seiser (2004) reports that Red Bull can afford to put no less than 30 percent of their profits into the marketing sector. All in all, Mateschitz' corporation has a company value of 4 billion Euros and provides work for about 1,850 employees (Nimmervoll, 2004).

Marketing communication tools

The once unpromising product then became one of ...