Red Bull Situation Analysis
Executive summaries
This document is part of the requirements of the Foundations of marketing course, the University of Newcastle. It is the first part of the marketing plan for Red Bull, the leader of energy drinks market.
The business overview, current situation analysis and marketing objectives are reviewed in this document as the following briefly details.
The current objectives of the Red Bull are to stay in the same position as the leader, to be the brand icon of the extreme sports and to expand the existing markets. Red Bull has used some strategies to reach these goals, such as extending the product line and being the extreme activities sponsorship.
Since Red Bull positioned itself as a functional drink, the competitors of Red Bull are in several drink markets. Energy drinks market, the direct competitor, has Red Bull, Monster and Rockstar as the main players. As well as the indirect competitors, soft drinks market that lead by the big companies like Coca-Cola and Pepsi-Co and also sport drinks market.
The SWOT analysis of Red Bull is presented based on the internal and external environments. The strengths of Red Bull are market leadership position, marketing efforts, their familiar taste and the representative of the fashionable and trendy, while the weaknesses are the pricing and the lack of the recipe patent as well as less variety of the products. Red Bull has opportunities to expanding the target markets as well as product lines extension, on the other hand, Red Bull also faces some threats which are the health concern of the customers, the forbidden in some countries and the “copy cat”.
The Marketing objectives of Red Bull are set based on SMART objectives. Three objectives have been set for this marketing plan, which are increasing the revenue, rising up the market share and being the brand icon of the extreme activities in target audiences’ perception. These objectives will be used for developing the marketing strategies for Red Bull in the
This document is part of the requirements of the Foundations of marketing course, the University of Newcastle. It is the first part of the marketing plan for Red Bull, the leader of energy drinks market.
The business overview, current situation analysis and marketing objectives are reviewed in this document as the following briefly details.
The current objectives of the Red Bull are to stay in the same position as the leader, to be the brand icon of the extreme sports and to expand the existing markets. Red Bull has used some strategies to reach these goals, such as extending the product line and being the extreme activities sponsorship.
Since Red Bull positioned itself as a functional drink, the competitors of Red Bull are in several drink markets. Energy drinks market, the direct competitor, has Red Bull, Monster and Rockstar as the main players. As well as the indirect competitors, soft drinks market that lead by the big companies like Coca-Cola and Pepsi-Co and also sport drinks market.
The SWOT analysis of Red Bull is presented based on the internal and external environments. The strengths of Red Bull are market leadership position, marketing efforts, their familiar taste and the representative of the fashionable and trendy, while the weaknesses are the pricing and the lack of the recipe patent as well as less variety of the products. Red Bull has opportunities to expanding the target markets as well as product lines extension, on the other hand, Red Bull also faces some threats which are the health concern of the customers, the forbidden in some countries and the “copy cat”.
The Marketing objectives of Red Bull are set based on SMART objectives. Three objectives have been set for this marketing plan, which are increasing the revenue, rising up the market share and being the brand icon of the extreme activities in target audiences’ perception. These objectives will be used for developing the marketing strategies for Red Bull in the
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