Marketing Red pull Assignment Example | Topics and Well Written Essays - 5750 words

Marketing Red pull - Assignment Example The study has selected UK as target international destination for Red Bull in order to develop marketing plan. In order to develop three-year marketing plan for Red Bull, the study will focus on three key issues. Issue 1- analyze the macro and micro environmental dynamics pertinent to UK and conduct environmental appraisal for Red Bull. Issue 2- on the basis of environmental appraisal; identify two new target segments appropriate to Red Bull in the U.K. market. As part of new target market selection, customer profiling, age group, characteristics of target group and positioning of the brand ‘Red Bull’ will also be discussed. Issue 3- on the basis of new target market selection; develop differentiated marketing mix for each target market identified. In the report, marketing objectives and control mechanism for individual marketing mix projected for particular target group will also be discussed. Red Bull is regarded as most popular energy drink across different countries in the world (Farris, 2010). Although, the Red Bull products were developed by TC Pharmaceutical during early 1980’s but Dietrich Mateschitz rejuvenated the product and established the brand as ‘Red Bull Energy Drink’ in Austria during 1981 (Red Bull, 2014a). From the initial years, market position of Red Bull Energy Drink was strengthened through unique positioning, integrating research and development (R&D) activities with product innovation and customization of marketing activities (Farris, 2010). In the last 26 years, the company has established its distribution channel in more than 55 countries. As of 2012, Red Bull sells more than 5 billion cans annually (Red Bull, 2014b). During 1980s, Red Bull was sold as medicine containing caffeine that can boost energy level upon consumption but the company has successfully repositioned the brand through streamlining