Marketing plan Essay Example | Topics and Well Written Essays - 2000 words

Marketing plan - Essay Example Thailand workers used the drink for staying awake during their shifts. The drink was known as Krating Daeng translated to ‘Red Bull.’ He contacted the manufacturers of the drink and bought the foreign licensing rights in exchange of 51% share in his company. When Mateschitz launched the drink in Austria, he did not target factory workers; his target market was young professionals as he would be able to promote a premium and trendy marketing campaign. Product Portfolio Initially, only the regular version of Red Bull energy drink was launched. However, several other variants with different specific features were launched with time: Red Bull Energy Drink – The drink is available in 3 size variations, with 16oz, 12oz, and 8oz. It has been designed for those people who have clear and focused mind and want to perform physically well. Red Bull Sugar free – This drink is a variant of the Red Bull energy drink but it is without sugar and hence, contains only 3 calor ies per 100ml. It has the same features as the Red Bull energy drink. Red Bull Cola – This is a relatively new addition to the Red Bull product line. It is claimed to 100% without chemicals consisting of only natural products with all natural taste. Red Bull Energy Shot – A very recent addition to the product portfolio, Red Bull energy shots is concentrated Red Bull Energy drink without carbonation and no requirement of chilling. It comes in small size of 60ml and consists of 27 calories. However, the concentrated 60ml have the ability of providing the same energy as a regular Red Bull can. (Red Bull Energy Drink, n.d.) Strategic position & situation analysis Market Performance & Positioning As mentioned earlier, Red Bull was first introduced in Austria in 1987. It later ventured into foreign markets with the first venture being in Hungary in 1992. The drink is now available in 120 countries with more than 2 billion sales annually acquiring the position of worldâ€℠¢s number one energy drink. The brand has acquired the top position among 15 other brands of energy drinks that are subsidiaries of different beverage or other companies (BevNet.com staff, 2009). The brand was promoted with a unique and creative style of advertising. The slogan was ‘Red Bull gives you wings’ that not only creates an image in the consumer minds but also suggests physical properties and benefits. Red Bull has been supported with a unique and creative style of advertising. The slogan â€Å"Red Bull gives you wings† strongly suggests the brand’s physical properties and benefits. Red Bull is sold as an energy drink and is designed to combat mental and physical fatigue. It is the combination of ingredients interacting with each other that provides the energy-building benefit. Red Bull operates within the energy drinks sector of the soft drinks market. The product is an example of a 'functional' drink. Functional foods respond to consumer interes t in well-being and performance. The major multinational soft drinks companies are investing in the area of functional drinks, developing their own brands and buying up existing ones. This is seen as being important, given that their traditional soft drinks markets are at the maturity stage in many countries. For these multinationals, new functional drinks offer opportunities for renewed business growth. Positioning The reason why Red Bull was able to accomplish such a huge market share in such little