REDBULL

A Marketing Mix Report For Redbull

A Marketing Mix Report For Redbull

Introduction

In contrast to the original Marketing Mix Theory based on the 4 P´s, Red Bull Ltd. introduced its own Marketing Mix Strategy. This can be best explained in form of a three pillar system, consisting of the media\advertising category, sports-and event sponsoring and sampling. In 1998 the budget Red Bull spends on marketing in the UK covered the amount of Pound 6 million. Their marketing formula is based on classic creative advertising; precision-targeted sponsorship and events; and right-place, right time sampling when consumers needed (Vakratsas, 2007, 85).

Media Advertising

Red Bull uses all the available media channels, meaning cinema,TV, radio, press and the internet. In other words the company focuses on the media through which it reaches its primary target market-young people.

Therefore they advertise in TV shows like T.F.I. Friday and in magazines like Time Out and men's health. Their advertisements in the different media channels are very successful. They allow the consumers to interpret the product and the moments of use themselves. Red Bull achieves this by a humorous and witty cartoon campaign, transferring the message that this energy drink helps you to escape by `giving you wings ´. The idea of communicating with the consumer in form of a simple cartoon has got the advantage that the message is easy to understand . People do not only enjoy the campaigns they even remember what the product is called and what it delivers, which is the most important characteristic for a successful campaign.

Sports-and Event-Sponsoring

The company also implements sponsoring in their marketing mix strategy. Sponsoring supports the image, the credibility and the visibility of the product.

On the one hand Red Bull sponsors the athlete target market in either extreme sports such as free climbing, paragliding and motorsports or fun sports, but always where Red Bull is needed. This strategy contributes to Red Bull that the brand appears ( logos and stickers) and that the product ´s target market is more precisely defined. On the other hand Red Bull does event sponsoring. The company either creates its own events (i.e. Red Bull Music Academy .......) where the whole events are promoted by Red Bull or they promote other events (i.e. Speed Ski World Championship) . Event sponsoring attracts people's attention towards the product and connects them.

Company Background

Red Bull is an energy drink sold by the Austrian Red Bull GmbH. It was created as an adaptation of the Thai energy drink Krating Daeng (which translates as "Red Bull") and introduced in 1987. Based on market share, it is the most popular energy drink in the world (McCarthy, 2006, 96).

Red Bull's slogan is "it gives you wings" and the product is aggressively marketed through advertising, tournament sponsorship (Red Bull Air Race, Red Bull Crashed Ice), sports team ownerships (Red Bull Racing, Scuderia Toro Rosso, EC Red Bull Salzburg, FC Red Bull Salzburg, Red Bull New York, RB Leipzig), celebrity endorsements, and with its record label, Red Bull Records, ...