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The Energy Drink Market
Transcript of The Energy Drink Market
The Energy Drink Market
Founded in 2002
"Unleash the beast"
Second largest market share
Mid-range brand equity
Red Bull is the market leader when it comes to energy drink, with an impressive 43% share of the market.
- 20 flavors
- Distributed to 30 countries
- Sponsors musicians and athletes
- Target market 18-24 year olds
- 10% Market share
-Low brand equity
Vodka Red Bull
-Increase brand awareness
-Expand target market
-Arouse interest from the public
- Expand communication methods
-Create a different market appeal from competitors
- Focuses on the product quality and features
- Product can be marketed both as an energy drink and as a soft drink
- New forms of communication
- Fastest mass marketing technique
- Variety of ages
Has potential to expand methods of communication to target market
Word of Mouth advertising
Keep up with ever changing world
- Be open to diversity, equality and technology
Female sporting representatives e.g. Libby Tricket
"give your life the sweeter edge"
Expand range of events organised
Noticed that events sponsored by Rockstar still not increasing much of their brand awareness
Such as Telethon
Put Rockstar's brand in a positive light
Increase brand awareness
Most energy drink consumers are within the age range of University students
Sponsor university events such as music festivals annually for various University
Recommended events to organise
Development of Vodka Redbull - Brand extension and Co-Branding possibilities.
Increasing brand awareness and customer loyalty, and develop a new brand image.
New marketing campaign to increase brand awareness and expand target market
All natural ingredients
Develop new advertising concepts
Market research found a high number of people associated Red Bull with the popular alcoholic spirit, Vodka.
The association was known as a "Vodka Red Bull"
This led us to investigate the range of products available in the alcoholic energy market!
What we found was an opportunity...
The opportunity we found was in the form of a distinct lack of products available, and no real market leader.
For Red Bull, this means a chance to expand into a new, highly profitable market.
Therefore, for Red Bull, the recommendation is an extension of their product line to produce a pre-mixed alcoholic energy drink which can be called by the already well known label of a "Vodka Red Bull"
Alternatively, Red Bull has the option to co-brand with an already well known brand of vodka. By doing so, Red Bull can take advantage of the perceptions consumers already have of these brands
Absolut Vodka is known for being a fun and good quality brand of Vodka, with a large range of flavors. The brand also has a "live for the moment" attitude, which would work well with Red Bull's image of thrill seeking and extreme sporting.
Red Bull could potentially co-brand with Absolute and create a range of differently alcoholic energy drinks.
For Example: "Raspberry Vodka Red Bull"
Introducing new product ranges e.g. fat and sugar free
Resizing their drinks in order to break into women's market.
Have advertisements that cater to both men and women
Encourage athletes and females to consume their drinks instead of their competitor's
Appeals to those who are on strict diets to consume their drinks.