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Pricing: Red Bull versus Monster Energy
Transcript of Pricing: Red Bull versus Monster Energy
Similarities & Differences
Who did it better?
More effective, even at a higher price
Has always been #1, doesn't plan on moving
Use of ADS
Improving our choice: Red Bull
Offer more drink for your buck
While they still remain #1, Monster Energy experienced a 22% growth in 2012, so they should lower prices to maintain dominance over Monster
Maintain its unique marketing
Founded by Dietrich Mateschitz in the mid 1980s
First sold on April 1, 1987 in its home market of Austria
Introduced in the United States in 1997
Today it is available in more than 165 countries
Rodney Shacks and Hilton Schlosberg came to America in 1989
Bought a juice company called Hansen in LA in 1992 for $14.6 million
Sales were $17 million with 12 employees, but weren't well known outside of CA
"We needed to create something different," says Shacks
Knew that Red Bull was doing well
Made an "energy smoothie" in 1996
Sold enough to have it stand alone in 1997 (same year Red Bull hit America)
Started to lose target market
They needed to get a brand
more than 35 billion cans of Red Bull have been sold
In 2012, they sold 5.2 billion cans alone
Have used athletes such as Lindsey Vonn, Travis Pastrana, Blake Griffin, and Ryan Sheckler
Most recently notable for the Red Bull Stratos mission
8.4 oz/250mL can average a U.S. of $2.36
Flavors include: original, sugar-free, total zero, and the red, silver, and blue editions
The introduction of Red Bull led to the birth of a new product category: energy drinks
Uses the catchphrase: "It Gives You Wings"
"Unleashing the Beast"
Hired Mark Hall for sales in 1997
Decided on MONSTER after polling employees and teenage boys
Made a 16oz drink for same price as an 8.4oz Red Bull
"We created a beast"-Mark Hall
MONSTER used Anheuser-Busch for distribution, now they use Coca-Cola
Rob Dydrek, Ken Block, Dave Mirra
"It Gives You Wings"
Used penetration strategy at first now more use of competitive strategy
Lager can for smaller price
MONSTER doesn't use ADS, commercials, etc
Status Quo pricing, maintains it's price
Dollar sales for 2013: $237,661,408
Pricing budget is priced towards 18-28 year-old boys
Skimming Strategy: more of a luxury item
Prices are based around allowing RED BULL to make sales
Highest price in energy drink market
Same target market
Pricing startegies are not similiar