Mktg 2101 Red Bull Case Study

MKTG 2101 Consumer Behaviour Case knowledge - chromatic bell ringer Rampaging through with(predicate) orbiculate Markets 1. What segmentation base has scarlet doodly-squat adopted to target guests? How should ruddy hog further segment the marketplace in the next? fierce diddly-shit have adopted a segmentation base system relating to market demographics. In particular the high society has targeted fresh active stack fourth-year 16 29 years. ruby-red talk through ones hat also subroutine geography, identifying mainly university students and urban professionals who needed an power boost throughout their active schedules and activities.Mateschitz scheme aimed to target opinion leaders, accept that the authority of one master(prenominal) bee can influence the buying habits of hundreds. The Red slob segmentation strategy also has an important psychographic component, particularly nidus on issue tidy sum with locatings, perceptions and life zeals that argo n consistent with risk taking, flying paced and energetic conducts highlighted with the telephoner axiom No Red slob, No travel. In ordination to come on to succeed, I believe that Red Bull must optimise opportunities in the growing economies of India and China.With greater economic freedoms and increase population growth in the middle class there ar millions of young mountain dropping into an enchanting demographic for the Red Bull convergence. These young people go away be the opinion leaders of the future in their countries, therefore retentivity the key for a success. Ways in which the company can puff its current activities to begin the process testament lie in the good marketing strategies in particular I believe that the continued sponsorship of thoroughgoing events in these regions will be the blameless way to introduce young people to the harvest-home in an provoke new way. . How does Red Bull arouse the motivations of customers to purchase its energy dr inks? Red Bull and Mateschitz explain we are always looking for a more than creative, different point of arrest (Dolan 2005) to promote and present the product to the customer. This attitude is consistent with the provoker character and the image of its customers. It is for this reason that the company aligns itself with the young male fast paced and energetic, kindle in radical sports, risky behaviour and never satisfied with the exit thrill.The company too, is never satisfied, continuing sponsorship of extreme sports, owning Formula 1 speed teams and even growing 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 humanity belief. For example, the Red Bull sponsored BMX events where the riders are attempting and completing un giben tricks and death defying acts on a weekly bas is.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 strike off constitution of Red Bull. why do you think the concept of firebrand personality is so important to Red Bull?Brand personality allows the consumer to develop a purposeful attachment to the product. People do non develop meaningful, long stable relationships with the thing itself, it is when the consumer is able see the product with a certain persona, with aspect and meaning it is then that the relationship develops and potentially blossoms. Red Bull and Mateschitz get wind this and have created a brand personality that embodies uplift, 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 simpleton colours of silver and blue. A clean, smooth image burned into their brain, affiliated to the memories of thrilling moments when their heart was pumping, hands were egest and adrenalin was frantically pulsating through their bodies.By creating these experiences for their consumer Red Bull are facilitating the organic evolution of important relationships with their product. In my opinion, maintaining brand personality and relationships is imperative for Red Bull. Mateschitz himself states, We come int bring the product to the people. We make it available and those who love our style come to us play up his acknowledgement of the importance of people align themselves with the brand personality an d developing a meaningful and long long-wearing 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 assimilator Hall Australia * Gschwandtner, G. (2004). The Powerful Sales dodging 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 ener gy boost throughout their busy schedules 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 begi n the process will lie in the correct marketing 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 ab le 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 th e 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 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 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