Mktg 2101 Red Bull Case Study

MKTG 2101 Consumer Behaviour Case memorise - florid doodly-squat Rampaging through with(predicate) Global Markets 1. What breakdown base has ablaze(p) shit adopt to target customers? How should inflamed Bull but segment the market in the future? Red Bull have adopted a segmentation base strategy relating to market demographics. In circumstance the union has targeted untried mobile lot ancient 16 29 years. Red Bull as well as use geography, identifying mainly university students and urban professionals who needed an dexterity boost throughout their busy schedules and activities.Mateschitz strategy aimed to target tactual sensation leaders, believing that the ascendancy of one of import bee can influence the buying habits of hundreds. The Red Bull segmentation strategy also has an significant psychographic component, particularly focussing on young people with attitudes, perceptions and life zeals that be consistent with risk taking, sporting paced and energet ic doingss highlighted with the play along motto No Red Bull, No Wings. In order to relate to succeed, I conceive that Red Bull must optimise opportunities in the growing economies of India and China.With greater economical freedoms and increased existence growth in the middle class there are millions of young people falling into an gentle demographic for the Red Bull crossing. These young people will be the opinion leaders of the future in their countries, therefore holding the key for a success. Ways in which the company can poke out its current activities to begin the process will lie in the correct merchandise strategies in particular I believe that the continued sponsorship of intense events in these regions will be the absolute authority to familiarize young people to the product in an exciting new way. . How does Red Bull arouse the motivations of customers to purchase its energy drinks? Red Bull and Mateschitz explain we are always looking for a more(prenomi nal) creative, unalike point of view (Dolan 2005) to promote and present the product to the customer. This attitude is consistent with the marking name temper and the cypher of its customers. It is for this reason that the company aligns itself with the young male fast paced and energetic, interested in extreme sports, risky behaviour and never satisfied with the last thrill.The company too, is never satisfied, continuing sponsorship of extreme sports, owning polity 1 rush teams and even underdeveloped its own sports such as BMX bike riding, Kite Boarding, Freeskiing, paragliding and more The company is adapted to continually satisfy the needs of the market, arousing the customer with exciting new promotions and events which challenge the limits of gentlemans gentleman belief. For example, the Red Bull sponsored BMX events where the riders are attempting and completing unseen tricks and death defying acts on a weekly basis.The company has also try a viral marketing strateg y, in order to get the product to the consumer in a sleazy and effective way. However, these efforts are also well calculated, for example, the drivers of the Red Bull VW Beetle are generally extremely good looking females aged 19 28 years, attractive and corresponding for the targeted young male. 3. Describe the brand temperament of Red Bull. Why do you think the concept of brand personality is so important to Red Bull?Brand personality allows the consumer to develop a meaty appurtenance to the product. People do not develop meaningful, long lasting relationships with the thing itself, it is when the consumer is able see the product with a authentic persona, with disembodied spiriting and meaning it is then that the relationship develops and potentially blossoms. Red Bull and Mateschitz insure this and have created a brand personality that embodies excitement, energy and exhilaration, Red Bull isnt a drink, its a way of life.People are overwhelmed with the image, the amazi ng aura around the events and the excitement created by the athletes. teenage people feel the product, the brand and the colours when they see these competitors doing the amazing things that they aspire to, enshrouded with the simple colours of smooth-spoken and blue. A clean, improve image burned into their brain, connected to the memories of thrilling moments when their heart was pumping, hands were sweating and epinephrin was frantically pulsating through their bodies.By creating these experiences for their consumer Red Bull are facilitating the development of important relationships with their product. In my opinion, maintaining brand personality and relationships is imperative for Red Bull. Mateschitz himself states, We dont bring the product to the people. We make it available and those who love our style come to us highlighting his acknowledgement of the importance of people aligning themselves with the brand personality and developing a meaningful and long lasting relati onship with the Red Bull productReferences * Dolan, K. (2005). The Soda With Buzz. Forbes. com http//www. forbes. com/global/2005/0328/028 print. hypertext markup language * Sciffman, L. , OCass, A. , Paladino, A. , DAlessandro, S. and Bednall, D. 2011. Consumer Behaviour, 5th Edition. Pearson Prentice Hall Australia * Gschwandtner, G. (2004). The Powerful Sales Strategy Behind Red Bull. Selling Power. September. http//www. sellinpower. comMktg 2101 Red Bull Case StudyMKTG 2101 Consumer Behaviour Case Study -Red Bull Rampaging through Global Markets 1. What segmentation base has Red Bull adopted to target customers? How should Red Bull further segment the market in the future? Red Bull have adopted a segmentation base strategy relating to market demographics. In particular the company has targeted young active people aged 16 29 years. Red Bull also use geography, identifying mainly university students and urban professionals who needed an energy boost throughout their busy schedule s and activities.Mateschitz strategy aimed to target opinion leaders, believing that the authority of one alpha bee can influence the buying habits of hundreds. The Red Bull segmentation strategy also has an important psychographic component, particularly focussing on young people with attitudes, perceptions and lifestyles that are consistent with risk taking, fast paced and energetic behaviours highlighted with the company motto No Red Bull, No Wings. In order to continue to succeed, I believe that Red Bull must optimise opportunities in the growing economies of India and China.With greater economic freedoms and increased population growth in the middle class there are millions of young people falling into an attractive demographic for the Red Bull product. These young people will be the opinion leaders of the future in their countries, therefore holding the key for a success. Ways in which the company can expand its current activities to begin the process will lie in the correct m arketing strategies in particular I believe that the continued sponsorship of extreme events in these regions will be the perfect way to introduce young people to the product in an exciting new way. . How does Red Bull arouse the motivations of customers to purchase its energy drinks? Red Bull and Mateschitz explain we are always looking for a more creative, different point of view (Dolan 2005) to promote and present the product to the customer. This attitude is consistent with the brand personality and the image of its customers. It is for this reason that the company aligns itself with the young male fast paced and energetic, interested in extreme sports, risky behaviour and never satisfied with the last thrill.The company too, is never satisfied, continuing sponsorship of extreme sports, owning Formula 1 racing teams and even developing its own sports such as BMX bike riding, Kite Boarding, Freeskiing, paragliding and more The company is able to continually satisfy the needs of the market, arousing the customer with exciting new promotions and events which challenge the limits of human belief. For example, the Red Bull sponsored BMX events where the riders are attempting and completing unseen tricks and death defying acts on a weekly basis.The company has also attempted a viral marketing strategy, in order to get the product to the consumer in a cheap and effective way. However, these efforts are also well calculated, for example, the drivers of the Red Bull VW Beetle are generally extremely good looking females aged 19 28 years, attractive and corresponding for the targeted young male. 3. Describe the brand personality of Red Bull. Why do you think the concept of brand personality is so important to Red Bull?Brand personality allows the consumer to develop a meaningful attachment to the product. People do not develop meaningful, long lasting relationships with the thing itself, it is when the consumer is able see the product with a certain persona, with feeling and meaning it is then that the relationship develops and potentially blossoms. Red Bull and Mateschitz understand this and have created a brand personality that embodies excitement, energy and exhilaration, Red Bull isnt a drink, its a way of life.People are overwhelmed with the image, the amazing aura around the events and the excitement created by the athletes. Young people feel the product, the brand and the colours when they see these competitors doing the amazing things that they aspire to, enshrouded with the simple colours of silver and blue. A clean, refined image burned into their brain, connected to the memories of thrilling moments when their heart was pumping, hands were sweating and adrenalin was frantically pulsating through their bodies.By creating these experiences for their consumer Red Bull are facilitating the development of important relationships with their product. In my opinion, maintaining brand personality and relationships is imperative for Red Bul l. Mateschitz himself states, We dont bring the product to the people. We make it available and those who love our style come to us highlighting his acknowledgement of the importance of people aligning themselves with the brand personality and developing a meaningful and long lasting relationship with the Red Bull productReferences * Dolan, K. (2005). The Soda With Buzz. Forbes. com http//www. forbes. com/global/2005/0328/028 print. html * Sciffman, L. , OCass, A. , Paladino, A. , DAlessandro, S. and Bednall, D. 2011. Consumer Behaviour, 5th Edition. Pearson Prentice Hall Australia * Gschwandtner, G. (2004). The Powerful Sales Strategy Behind Red Bull. Selling Power. September. http//www. sellinpower. com