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Essay example - Marketing Plan for Red Bull Company
Pages 10 (2510 words)
Marketing Plan: Red Bull Company Name: Date: Market Plan: Red Bull Executive Summary Dietrich Mateschitz found Red Bull in the mid 1980’s. Mateschitz developed the marketing idea for Red Bull, and he created the formula for Red Bull…
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Cumulatively, the company sold over 35 billion cans worldwide to date. Red Bull is the brand name used by the Red Bull Company from Austriai. This energy drink contains several ingredients, which make it a super energy drink. These include glucose, glucoronolactone, caffeine, sucrose, taurine, and B-group vitamins (Red Bull GmbH, n.d.). This drink trades in two major brands i.e. R-B Energy Drink and R-B Sugar Free. The later is similar to the former, only that it lacks sugars. Aspartame and acesulfame K sweeteners replace this glucose and sucrose. Red Bull enjoys worldwide market coverage as well as global competition from established soft drinks players. Emerging markets for soft drinks and health concerns of consumers are some of the issues affecting the market growth and expansion of the drink. Obesity is also becoming a major threat in the soft drinks market due to the sugars they contain. This is even more challenging to this industry owing to the fact that most of its target market ranges among children and the youth who are most vulnerable to obesity. However, Red Bull managed to maneuver though all these challenges to sit comfortably at the top of preferred energy drinks around the globeii. Current Marketing Situation For any firm that seeks to succeed, it is important to define a company product's position, target and segmentation. ...
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