Red Bull Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Red Bull through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Red Bull Product Strategy:
Red Bull drink idea came from Krating Daeng which is a non-carbonated energy drink available originated in Thailand. The brand has achieved global recognition, and is now sold in over 170 countries. Red Bull drink contained ingredients similar to that but a few more added to accommodate the western taste and also became carbonated. The product mix of Red Bull can be elaborated as follows. Red Bull energy drink contains caffeine, taurine, B vitamins, sucrose and glucose which is mainly required by workaholics, sports people or even youth who want to party at night. As there is a usual trend that occurs in the younger segment, they came up with a sugar free variant called Red Bull SugarFree which contains aspartame and acesulfame K instead of sucrose and glucose. The drink is available in a tall blue-silver can with 2 red bulls on the front whereas Krating Daeng is a gold short can. The two products are produced differently and available in different countries and red bull is a much more popular energy drink worldwide.
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This concludes the product strategy in Red Bull marketing mix & strategy.
Red Bull Price/Pricing Strategy:
Below is the pricing strategy in Red Bull marketing mix strategy:
Red Bull has a number of competitors in the energy drinks industry but yet they are the market leaders. Hence, the pricing strategy is that of a market leader but based on competitor pricing.
Being on the top they can easily charge a premium for their products and customers will even buy it for their quality. Red Bull was the first in its category so it will always be the number one choice for customers and its demand will never decrease. People prefer buying Red Bull in bulk as its’ cheaper than buying a single can. Yet overall they are the most expensive energy drink compared to competitors like Rockstar, Tzinga, Cloud 9, Gatorade, Monster and KS. Despite constant competitive pressure, the brand has managed to maintain its pricing strategy and has consistently grown.
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Red Bull Place & Distribution Strategy:
Following is the distribution strategy in the Red Bull marketing mix:
Red Bull has successfully managed to sell over 7.5 billion cans worldwide in 2019 owing to its vast distribution network worldwide. Red Bull is available at convenient locations like a supermarket, convenience store, retail outlet or even night clubs, bars and casinos. This way it becomes very easy for a customer to buy the product. Also, Red Bull is often stored in Red Bull exclusive refrigerators attracting customers to buy an energy drink when they go grocery shopping or to a bar. Red Bull is also available online either in bulk packs or single making it easier for customers to buy it in bulk. The main motive of selling this drink at night clubs and bars is either people prefer mixing it with another beverage to add some extra flavor or sometimes it is just to help them stay up late and party with friends.
At supermarkets and convenience stores they are placed alongwith other competitive products giving the customer a choice between which one to buy.
Promotion:
The promotional and advertising strategy in the Red Bull marketing mix is as follows:
Red Bull being an energy drink mostly targets sports people with their tagline “Red Bull gives you wings”. It has engaged with customers widely through its TV campaigns. Owing to a huge youth customer base, they organize a lot of sports events and even sponsor teams as well as the events. Some of these events include mountain biking, BMX, motocross, windsurfing, surfing, skating, Formula 1, Red Bull Startos, Red Bull Foxhunt, Red Bull Cape Fear, Red Bull BC One, Red Bull Battle Grounds, etc. They also endorse various sports athletes and celebrities. Besides sports they also have a Red Bull House of Art where they encourage artists to display their art in a period of 3 months at their exhibitions. They have Red Bull T.V available on laptops, PCs, mobiles, gaming consoles and tablets airing various music festivals, shows, films, performances and videos. Red Bull also have their own merchandise stores online and magazines for extreme sports persons. Through all these promotional activities they want customers to recall their brand every time they see or hear energy drink thus increasing their customer base. Hence, this covers the marketing mix of Red Bull.
About Red Bull:
Red Bull Energy drink was founded in the 1980s by Austrian entrepreneur Dietrich Mateschitz in partnership with Chaleo Yoovidhya. This came as an inspiration to an existing drink called Krating Daeng which was introduced in Thailand by Chaleo Yoovidhya. Dietrich modified the ingredients and the first red bull drink was sold in Austria in the year 1987. Red Bull is available in 169 countries and around 5.9 billion were sold in the year 2015 around the world. It has grown and has now become the highest selling energy drink in the world.
It started as an energy drink consumed by Thai truck drivers and laborers and now has now become the most preferred energy drink worldwide by sportsmen, workaholics, youth and many active people’s lives. Red Bull is especially produced targeting the sports people and it is considerably growing in that segment worldwide.
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