In this second assignment named „Product and Price Analysis of Red Bull in Central Europe” the goal is to analyse the “product” and “price” strategy and to give a short overview of their “place” and “promotion” strategy.
Red Bull as company was founded in 1987 with its slogan “Red Bull gives you wiiings”.
The firm developed by Dietrich Mateschitz sold more than 35 billion cans until now and is available in more than 165 countries. The product is developed from a Thai energy drink and includes caffeine, taurine, B-Vitamines, saccharose, glucose and water, what can be consumed by people in many situations for their physical and social needs and Red Bull created an emotional binding. The product is only available in six different types but because of the well established brand and its young and modern image people have a positive association with it and so buy it.
The Company has worldwide steady growth rates although it is sold at a very high price level with compared to that low production costs. In contrast to that the competitors’ products are much cheaper, but Red Bull sticks to their prices even many competitors entered the market.. But it can be said that Red Bull is aiming for an abnormal profit and concentrating on internal and marketing orientation when setting their prices. The consumers are paying for the “way of life” and the quality.
To the place and promotion strategy can be said that Red Bull is available in 165 countries (in nearly ever little shop) but produced only in Austria and Switzerland. The company is widespread represented in sports sector where they are sponsoring much sportspersons and events.
To summarize that it can be said that Red Bull is a very successful and powerful company and the world’s market leader in the energy drink sector but the challenge will be how to maintain the constant growth in revenue and market share. The authors hold the opinion that Red Bull should maintain developing their extreme sport sponsoring and should develop some new products as well as produce them from natural resources.
Table of Contents
- Executive Summary
- Table of Contents
- 1. Introduction
- 1.1 Definition of Marketing Mix
- 1.2 Product
- 1.2.1 Consumer Behaviour - Creating Satisfaction
- 1.2.2 Buying Process in Product Management
- 1.2.3 Product - Brand - Innovation
- 1.2.4 Marketing Services
- 1.2.5 Tools
- 1.3 Price
- 1.3.1 The Profit Motive
- 1.3.2 Pricing Strategies and Differentiation
- 1.3.3 Pricing Methods and Buyer Reaction
- 1.3.4 Competitor Reaction
- 1.3.5 Discounts
- 1.3.6 Delivery and Payment Conditions
- 1.4 Place
- 1.4.1 Distribution
- 1.4.2 Channel Strategy
- 1.4.3 Logistics
- 1.5 Promotion
- 1.5.1 International Marketing Communication
- 1.5.2 Advertising
- 1.5.3 Other forms of Promotion
- 2. Product and Price Analysis
- 2.1 Product
- 2.1.1 Buying Process
- 2.1.2 Products
- 2.1.3 Branding
- 2.1.4 Tools BCG Matrix
- 2.2 Price
- 2.2.1 Pricing Strategies
- 2.2.2 Pricing Methods and Discounts
- 2.2.3 Competitor reaction
- 2.3 Outlook and Overview of Promotion and Place
- 2.3.1 Promotion
- 2.3.2 Place
- 3. Conclusion
Objectives and Key Themes
This assignment analyzes Red Bull's product and price strategies in Central Europe, providing a brief overview of its place and promotion strategies. The goal is to understand how Red Bull, despite high prices and numerous competitors, maintains its market leadership.
- Red Bull's product strategy and branding
- Red Bull's pricing strategy and its rationale
- The role of place and promotion in Red Bull's success
- Analysis of competitor reactions and market dynamics
- Red Bull's future challenges and potential strategies
Chapter Summaries
1. Introduction: This chapter lays the theoretical groundwork for analyzing Red Bull's marketing mix. It defines the marketing mix (product, price, place, promotion) and delves into various aspects of each element. The discussion covers consumer behavior, product life cycles, pricing strategies (including cost-plus, value-based, and competitive pricing), distribution channels, and different promotional methods. The chapter provides the conceptual tools necessary for the subsequent analysis of Red Bull's specific strategies.
2. Product and Price Analysis: This chapter applies the theoretical framework established in the introduction to analyze Red Bull's actual product and price strategies in Central Europe. It examines Red Bull's product line, branding, and the consumer buying process associated with the product. A key aspect is the analysis of Red Bull's premium pricing strategy, comparing it to competitors and examining the factors justifying its high price point. The chapter further explores the pricing methods employed, discounts offered, and the reactions of competitors to Red Bull's pricing strategy.
Keywords
Red Bull, energy drink, marketing mix, product strategy, pricing strategy, branding, consumer behavior, competitive advantage, market leadership, Central Europe, premium pricing, promotion, distribution, place.
Red Bull Marketing Mix Analysis: Frequently Asked Questions
What is the purpose of this document?
This document provides a comprehensive preview of a marketing analysis focusing on Red Bull's strategies in Central Europe. It includes a table of contents, objectives, key themes, chapter summaries, and keywords. The analysis aims to understand how Red Bull maintains market leadership despite high prices and intense competition.
What are the key themes explored in the analysis?
The analysis delves into Red Bull's product strategy and branding, pricing strategy and rationale, the roles of place and promotion in its success, competitor reactions and market dynamics, and future challenges and potential strategies for the brand.
What topics are covered in the "Introduction" chapter?
The introduction lays the theoretical foundation by defining the marketing mix (product, price, place, promotion) and exploring various aspects of each element. It covers consumer behavior, product life cycles, different pricing strategies (cost-plus, value-based, competitive pricing), distribution channels, and diverse promotional methods. This chapter provides the conceptual tools for analyzing Red Bull's strategies.
What does the "Product and Price Analysis" chapter cover?
This chapter applies the theoretical framework to analyze Red Bull's actual product and price strategies in Central Europe. It examines Red Bull's product line, branding, and consumer buying processes. A key focus is the analysis of its premium pricing strategy, comparing it to competitors and exploring the factors justifying its high price point. It also investigates pricing methods, discounts, and competitor reactions.
What is the scope of the analysis regarding Place and Promotion?
While the document provides a theoretical overview of Place (distribution, channel strategy, logistics) and Promotion (international marketing communication, advertising, other promotional methods) in the introduction, the in-depth analysis in Chapter 2 focuses primarily on Product and Price. A brief overview of Place and Promotion strategies for Red Bull is included.
What are the key keywords associated with this analysis?
The key terms include: Red Bull, energy drink, marketing mix, product strategy, pricing strategy, branding, consumer behavior, competitive advantage, market leadership, Central Europe, premium pricing, promotion, and distribution.
What is the overall goal of the Red Bull marketing mix analysis?
The main objective is to understand how Red Bull maintains its market leadership position in Central Europe despite its high prices and a competitive market. The analysis aims to provide insights into the effectiveness of its marketing strategies.
What is included in the document besides the analysis itself?
In addition to the analysis, the document includes a detailed table of contents, a clear statement of objectives and key themes, chapter summaries providing concise overviews of the key findings, and a list of relevant keywords.
- Citation du texte
- Julia Teigeler (Auteur), Ann-Katrin Hahne (Auteur), 2014, Product and Price Analysis of Red Bull in Central Europe, Munich, GRIN Verlag, https://www.grin.com/document/271841
