Red Bull is an Austrian Company dealing with energy drinks. The brand has a market share of 38% and is among the most popular energy drink brand as of 2022 (Byun, 2018). Red Bull GmbH Is a marketer and producer of energy drinks, and its portfolio includes zero calories drinks, sugar-free drinks, and energy drinks (Learning, 2022). The company also offers special drinks in acai berry, watermelon, and tropical flavors. The company plans to introduce a new product line (a new coffee energy drink) into the market. This paper examines Red Bull’s target market, branding style for the new product, packaging, and product strategies that can help the company achieve business success.
The New Product Line and Primary Target Market
Red Bull’s main aim is to remain competitive in the market and provide unique brands and achieve their consumers’ expectations. This has compelled the company to launch a new product line (A new coffee energy drink) to help consumers replenish their exhausted bodies and regain their lost energy through the help of coffee energy drinks. The huge collection of delicious and flavored coffee energy drinks that the company intends to launch can instantly boost energy and keep one active throughout the day. These products are safe for human consumption, and the company is trusted by millions of consumers globally.
The new coffee energy drink will have approximately 80 – 200mg caffeine. The caffeine content in this new product line tends to be more concentrated than in other energy drinks. Provided this drink has less sugar and is made of natural vitamins, it seems a healthier choice.
The company’s primary market target includes young adults and teenagers. The consumption of energy drinks is increasing rapidly, which can be seen from the increasing market size. Red Bull’s marketing strategy looks into what appeals to the consumer. The brand market official examines the lifestyle and income of the potential customers, including their health goals and habits. The company’s target market is performers who require health-based, clean energy. This energy drink customer base includes gamers, athletes, and teenagers.
The Branding of the New Product Line
As mentioned earlier, the new product line targets teenagers and athletes, especially those who engage in extreme sports. The target audience for the new coffee energy drink is independent professionals with average to high incomes. The product is marketed by appealing to the target audience first before sales. The company also has unique brand positioning that sets it apart from its competitors and helps it build preference among its target audience. The organization’s positioning strategy is based on the idea that the new product line will benefit consumers. The idea that “Red Bull gives you wings” makes consumers believe that when they take this energy drink, they can tackle any difficulty.
The Packaging for the Product
Marketing any energy drink depends on the distribution channel, location, and packaging. The packaging of this energy drink will be in bottles and cans. Most companies produce unique packaging for their products to make them appealing to specific audiences or customer bases. The new product will have smart packaging and a comprehensive packaging strategy based on current technology to enhance the product’s safety, provide consumers with the needed information about the product, and enhance sustainability. This is a multi-dimensional approach to packaging that involves customization and optimization. Apart from impressing the consumers, the packaging plays an important role in protecting the product from loss, counterfeiting, and theft. The product will contain dark blue and silver metallic cans with red writings.
Product Strategies for Red Bull to Achieve Business Success
This new product line’s marketing or product strategy must be based on the target audience and potential market the brand wants to enter. This will require the marketing team to assess the income and lifestyle of the intended market, including their health goals. Personalized marketing is the best marketing strategy that will help Red Bull achieve market success for its new product line. This involves using analytics to develop marketing messages and make product experiences feel unique to every consumer (Chandra et al., 2022).
It is a marketing strategy that uses data to connect with existing consumers and target audiences to provide a heightened marketing experience. By gathering and using information, Red Bull will be able to identify the consumption patterns of its target audiences. This marketing strategy will be effective because it will allow the company to tailor its marketing based on data it has collected from the market, such as consumers’ purchase history, shopping preferences, and interests.
Conclusion
Red Bull targets teenagers and young adults of average to high income with its new coffee energy drink. The company uses a smart packaging strategy to make the product appealing to the target audience. The company intends to use a personalized marketing strategy that involves the use of analytics to develop marketing messages and make product experiences feel unique to every consumer.
References
Chandra, S., Verma, S., Lim, W. M., Kumar, S., & Donthu, N. (2022). Personalization in personalized marketing: Trends and ways forward. Psychology & Marketing. Web.
Learning, L. (2022). Case study: Red Bull wins the “Extreme” niche. Introduction to Marketing I (MKTG 1010).
Byun, J. W. (2018). A global brand of the Red Bull: The successful promotion strategy. 유럽연구, 28(2), 405-423.