Red Bull Marketing

Venezuela is located on the northern end of South America. Its coastline borders both the Atlantic Ocean and the Caribbean Sea. The country is just over the size of two California’s and has a population of approximately twenty-six million people. Venezuela gained its independence from Spain in 1830. Its government is democratically elected with Hugo Chavez as the current president. Chavez is currently pushing his political idea of “21st Century Socialism” and is nationalizing many of the infrastructural industries. The economy of Venezuela is facing twenty percent inflation rates and a national debt that is twenty-seven percent of the gross domestic product (GDP). Petroleum and agriculture are the two main industries in Venezuela. The service industry creates the most jobs in Venezuela. Petroleum export is the leading source of income for the government. Therefore, the Venezuelan economy is closely tied to the price of petroleum. For the product introduction, Red Bull will be targeting the growing economy of Venezuela. After a few years of recession, the Venezuelan economic structure seems to be turning around based on the rising petroleum prices. The goal is to introduce the Red Bull energy drink to Venezuela’s growing, youthful population. Red bull is an internationally popular energy drink that is intended to taste like mixed berries. Red Bull is packaged in a slim aluminum blue and silver container with two red bulls as the logo. It provides 8.3 US fl. oz. of thirst quenching power fluid and contains 80 mg. of pure caffeine; this energy drink combats mental and physical fatigue. Red Bull however, was not always Red Bull; this energy drink originated in Thailand and it was sold under the name “Krating Daeng”. It was transformed into a global brand by Dietrick Mateschitz, an Austrian entrepreneur. Mr. Mateschitz was an international marketing director and in 1982 when he visited Thailand someone handed him a can of “Krating Daeng”, which cured his