Red Bull Case Study
1. How will you characterize Red Bull’s overall marketing strategy (global, glocal or local)?
Globalization is the deviation of businesses, philosophies, or technologies to propagate throughout the world, as well as the process of making this happen (SearchCIO, 2014). Glocalization is the idea that in a global market, when it is customized for the local or culture in where it is sold, a service or product is more likely to succeed (Rouse, 2013). Localization refers to the adaptation of a product, application or document content to meet the language, cultural and other needs of a specific target market (Ishida, W3C, Miller, Boeing, 2005). It is to believe that Red Bull is using globalization strategy in overall marketing strategy based on Red Bull had built an image as a trendy energy drink where approaching target are young adults and young professionals aged between 16 to 29 worldwide. Red Bull claims that they are not selling beverage but selling ‘a way of life’ which catches younger generation attention. Strategy such as promote Red Bull on university campuses by recruiting ‘student brand manager’ obviously shown that their main target audience. Red Bull uses the same marketing strategy throughout the world, there is no individual strategy in another country. Red Bull only uses grassroots, guerilla, word of mouth, viral marketing, underground and buzz-marketing for advertising. There is no print media advertising in any country as Red Bull thinks it’s too flat and dull to express the product. Red Bull believes in keeping one brand image all over the world and does not conform to local considerations. Red Bull only have two varieties throughout the world as well as the packaging and label.
2. Argue for the most relevant segmentation (screening) criteria to be used by Red Bull in the process of international market selection (IMS).
In order to segment criteria for Red Bull in the process of international market selection, the primary segment
Globalization is the deviation of businesses, philosophies, or technologies to propagate throughout the world, as well as the process of making this happen (SearchCIO, 2014). Glocalization is the idea that in a global market, when it is customized for the local or culture in where it is sold, a service or product is more likely to succeed (Rouse, 2013). Localization refers to the adaptation of a product, application or document content to meet the language, cultural and other needs of a specific target market (Ishida, W3C, Miller, Boeing, 2005). It is to believe that Red Bull is using globalization strategy in overall marketing strategy based on Red Bull had built an image as a trendy energy drink where approaching target are young adults and young professionals aged between 16 to 29 worldwide. Red Bull claims that they are not selling beverage but selling ‘a way of life’ which catches younger generation attention. Strategy such as promote Red Bull on university campuses by recruiting ‘student brand manager’ obviously shown that their main target audience. Red Bull uses the same marketing strategy throughout the world, there is no individual strategy in another country. Red Bull only uses grassroots, guerilla, word of mouth, viral marketing, underground and buzz-marketing for advertising. There is no print media advertising in any country as Red Bull thinks it’s too flat and dull to express the product. Red Bull believes in keeping one brand image all over the world and does not conform to local considerations. Red Bull only have two varieties throughout the world as well as the packaging and label.
2. Argue for the most relevant segmentation (screening) criteria to be used by Red Bull in the process of international market selection (IMS).
In order to segment criteria for Red Bull in the process of international market selection, the primary segment
References: 1.4 ADVANTAGES & DISADVANTAGES OF INTERNATIONAL TRADE. 2014. [e-book] [Accessed: 18 Feb 2014] http://www.dpcdsb.org/NR/rdonlyres/0535EFD9-639D-4D95-B7AA-461E34742340/63024/Chapter_141.pdf. Brands, C. C. 2012. Statement Regarding Monster Beverage Corporation. [online] [Accessed: 18 Feb 2014] Available at: http://www.coca-colacompany.com/press-center/press-releases/media-reports-related-to-monster-beverage-corporation. Friedman, S. 2014. Sponsorship: A Key to Powerful Marketing. [online] [Accessed: 18 Feb 2014] Available at: http://marketing.about.com/od/eventandseminarmarketing/a/sponsorship.htm. Ishida, R. and Miller, S. K. 2005. Localization vs. Internationalization. [online] [Accessed: 18 Feb 2014] Available at: https://www.w3.org/International/questions/qa-i18n.en. Kokemuller, N. and Media, D. 2014. Advantages & Disadvantages of Doing Business in Emerging Markets. [online] [Accessed: 18 Feb 2014] Available at: http://smallbusiness.chron.com/advantages-disadvantages-doing-business-emerging-markets-22725.html. Rouse, M. 2014. What is glocalization? - Definition from WhatIs.com. [online] [Accessed: 18 Feb 2014] Available at: http://searchcio.techtarget.com/definition/glocalization. Searchcio.techtarget.com. 2014. What is globalization? - Definition from WhatIs.com. [online] [Accessed: 18 Feb 2014] Available at: http://searchcio.techtarget.com/definition/globalization. UK Essays, A. A. 2014. Reasons and stratagies for entering foreign markets. [online] [Accessed: 18 Feb 2014] Available at: http://www.ukessays.com/essays/marketing/reasons-and-stratagies-for-entering-foreign-markets-marketing-essay.php. Young, A. 2013. Top 10 hybrid drinks. [online] [Accessed: 18 Feb 2014] Available at: http://www.thedrinksbusiness.com/2013/12/top-10-hybrid-drinks/.