Marketing Mix of Red Bull tells the 4ps (Product, Price, Place, and Promotion) of the Famous Austrian Energy Drink Brand – Red Bull!
Dietrich Mateschitz, an Austrian entrepreneur, co-founded Red Bull Energy Drink with Chaleo Yoovidhya in 1980. This was inspired by a popular Thai drink called Krating Daeng, which was invented by Chaleo Yoovidhya.
Dietrich changed the ingredients, and in 1987, the first red bull drink was marketed in Austria. It has surged in popularity to become the world’s most popular energy drink.
It began as an energy drink used by Thai truck drivers and workers and has since evolved into the most popular energy drink among athletes, workaholics, youngsters, and other active people throughout the world.
Red Bull is marketed specifically to athletes, and it is rapidly expanding in that market globally.
Let’s start with the Marketing Mix of Red Bull to learn more about its product, price, promotion, and distribution approaches.
Product in the marketing mix of Red Bull
The idea for the Red Bull drink came from Krating Daeng, a non-carbonated energy drink that originated in Thailand. The brand has gained international acclaim and is currently available in over 170 countries.
The Red Bull drink had comparable components, but a few more were added to satisfy the western taste, and it was also carbonated.
The following is a breakdown of Red Bull’s product mix. Caffeine, taurine, B vitamins, sucrose, and glucose are all included in Red Bull energy drinks, which are used by workaholics, athletes, and even young people who want to party late at night.
They came out with a sugar-free variation called Red Bull SugarFree, which contains aspartame and acesulfame K instead of sucrose and glucose, as is a common trend in the younger sector.
Krating Daeng comes in a gold short can with two red bulls on the front, whereas the drink comes in a tall blue-silver can with two red bulls on the front.
The two drinks are made differently and are accessible in various places, with Red Bull being a far more popular energy drink throughout the world.
Price in the marketing mix of Red Bull
Even though Red Bull has a lot of competitors in the energy drink sector, they are still the market leader. As a result, the price strategy is that of a market leader, but it is dependent on the pricing of competitors.
They can easily charge a premium for their items since they are at the top, and people would buy them for their quality. Because Red Bull was the first in its category, it will always remain the customer’s first option, and demand will never decrease.
People like to buy Red Bull in bulk since it is less expensive than purchasing a single can. However, when compared to competitors such as Rockstar, Cloud 9, Monster, Gatorade, KS, and Tzinga, they are the most costly energy drink. Despite continual competition pressure, the brand has consistently expanded and maintained its price approach.
Place in the marketing mix of Red Bull
Due to its extensive distribution network, Red Bull was able to sell more than 7.5 billion cans globally in 2019. Red Bull may be found at places including supermarkets, convenience stores, retail outlets, and even nightclubs, bars, and casinos. This makes it incredibly simple for a buyer to purchase the product.
Additionally, Red Bull is frequently kept in Red Bull-exclusive refrigerators, enticing people to purchase an energy drink while out shopping or at a bar. Red Bull may also be purchased in bulk or individually online, making it easier for clients to buy in bulk.
The major reason for selling this drink at nightclubs and bars is that individuals either choose to combine it with another beverage to enhance taste, or they just want to stay up late and party with their friends.
Promotions in the marketing mix of Red Bull
With the tagline “Red Bull gives you wings,” Red Bull, an energy drink, mainly targets athletes. Through its television advertisements, it has reached out to a large number of customers. They arrange a lot of sports activities and even fund teams and events because they have such a large youth consumer base.
Some of these events include-
- Mountain biking
- Red Bull Foxhunt
- Red Bull Cape Fear
- Red Bull Stratos
- Formula 1
- Red Bull Battle Grounds
- Red Bull BC One
They also support several players and personalities from various sports. Aside from athletics, they also offer a Red Bull House of Art, where artists are encouraged to present their work for three months at their exhibits.
On computers, PCs, gaming consoles, tablets, and mobile phones, they may watch Red Bull T.V, which broadcasts various music festivals, shows, films, performances, and videos.
Red Bull also has its web store and periodicals for extreme sports enthusiasts. They hope that by engaging in all of these promotional efforts, people will remember their brand every time they see or hear an energy drink, hence boosting their customer base. As a result, the Red Bull marketing mix is covered.
I hope you have collected all the essential information about the Marketing Mix of Red Bull and the 4 P’s of Red Bull. Stay tuned for more Marketing Mix Articles.