Over the past few decades, marketing trends in the globe have undertaken great transformations. This has resulted from increased competition, which has resulted from the use of modern technology. In the evaluation of changes in marketing trends a case study of Red Bull Company is undertaken to determine various aspects that determine its success in the global market. (Kotler, 2012)
Red-bull Company undertakes its modernized marketing campaign with an aim of achieving various marketing goals and objectives. These objectives mainly include developing customer loyalty, attracting new patrons, and promoting global sports. This it has managed to undertake using ‘buzz marketing’ trends, which has associated the company’s products with the youthful culture and extreme sporting adventure. This has resulted to an increase in sporting sponsorships in games such as motor sports, mountain biking, and music parties. In addition, the company has undertaken to adopt nicknames for the company’s products thus enhancing consumer loyalty. (Kotler, 2012)
The Energy drink market continues to grow rapidly following activities such as brand extensions and new entrants in the soft drink market. These transformations have developed a challenge and an opportunity for various soft drink companies. These changes have affected the operations of red bull company since a number of competitors are reducing its market share in various global markets. (Staff, 2015)
In the energy drink market, the main competitors for red bull’s market share include Coca-Cola Company, Pepsi, and Monster. These companies offer products that differ from red-bull Company in terms of the market targeting and segmentation. For instance, Pepsi Company has developed its product to target individuals of all ages within the global market. In addition, the company has undertaken the initiative to create an image of a diet boosting product, which makes it very competitive in the global market. Red Bull Company differs from Pepsi Company by targeting the Y-generation which mainly comprises of young consumers who appreciate sporting activities. (Staff, 2015)
Red Bull Company faces a number of threats within the energy drink company. These threats include, increased copycat drinks such as Mad Bull and red devil threaten to reduce red bull’s market share, increased competition from strong soft drink companies within the globe such as Coca-Cola, and the increased markets for products from small companies within the globe. In addition, this company faces the threat of increased legislations which limit the marketing of products, which contain components such as caffeine and Taurine. For instance, the company faces restrictive legislations which advocate for placement of warning labels on packaging products that are sold within the European Union. (O’Brien, 2012)
Additionally, the company faces the threat of increased negative publicity following student murder cases in which the drink was cited as a motivating factor ,and health concerns which have become a threat to this company’s products since current research has revealed that consumption of red bull products may lead to impaired cardiovascular activities. (O’Brien, 2012)
Red Bull is well known for advertising through very risky behavior and stunts performed by athletes such as sky diving, cliff diving, and racing. Another company known for such advertisements is the GoPro Company. This risky behavior is used to influence people to buy the product in hopes that their lives will be more thrilling. This is demonstrated in their motto “Red Bull Gives you Wings” as noted in the case study. Red Bull should draw the line when people start to attempt such stunts on their own without any professional training or supervision. This can lead to serious injuries or fatalities. (Ratcliff, 2014)
Kotler, P. &. (2012). Marketing management. Upper Saddle River, NJ: Prentice Hall.: 14th ed.
O’Brien, J. (2012). How Red Bull Takes Content Marketing to the Extreme. Retrieved from Marshable: http://mashable.com/2012/12/19/red-bull-content-marketing/
Ratcliff, C. (2014). Red Bull vs GoPro: taking content marketing to the extreme. Retrieved from Econsultancy: https://econsultancy.com/blog/65416-red-bull-vs-gopro-taking-content-marketing-to-the-extreme/
Staff. (2015). Top Selling Energy Drink Brands. Retrieved from Caffine Informer: http://www.caffeineinformer.com/the-15-top-energy-drink-brands
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