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RED BULL MARKETING MIX

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by

Terence Bell

on 27 February 2014

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Transcript of RED BULL MARKETING MIX

Red Bull was founded by Austrian native Dietrich Mateschitz and Chaleo Yoovidhya. Yoovidhya had created a drink in Thailand that helped cure Mateschitz's jet lag when he came to visit the country. Mateschitz took the drink and modified the ingredients to fit the taste of consumers worldwide and the two partnered together to create the company Red Bull.
PRODUCT
The Promotion of the Red Bull drink and brand is probably the most interesting part of Red Bull's marketing. With their well-known slogan "Red Bull gives you wings" they take their connection with their consumers to a whole new level by being a part of their target consumers lives from hosting a list of extreme sports events, to creating a magazine for "extreme sporters", to even opening a record label which pushes the boundaries of what's possible and helping them achieve their goals and nurture their talent.
PROMOTION
Red Bull puts their pricing above any other energy drink because of its quality. It is truly unlike any other drink designed specifically for its consumers and introduced an entirely new category in energy drinks. Other drinks such as Monster and Rockstar have tried to compete, but none have been worthy opponents.
PRICING
Red Bull places its product in areas where it is easy and convenient to purchase. This includes not only grocery and convenience stores, but also night clubs and casinos.
PLACE
MARKETING MIX
Red Bulls success comes not only from the popular energy drink that comes in many forms and flavors, but also from the company itself which has built itself as a brand in the "extreme sports" world. Targeting snowboarders, hang gliders, bungee jumpers, car racers, and other extreme sports of all kinds. The drink has a unique taste and an effect that many have yet to copy.
Red Bull is the number one energy drink worldwide with 5.2 billion cans sold in 2012 in 165 countries.
Even in the different countries headquarters the company connects with their consumers in more ways than one by allowing freedom to how each headquarter promotes according to the type of local consumers they have.
Red Bull is such a dominant company because they carefully planned out a strategy, executed it and have consistently created a well integrated marketing mix that fulfills that strategy with any new factors that came into play.
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