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What The Red Bull Product Life Cycle Looks Like

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Introduction

Red Bull first joined the market in early 1987 right after an Austrian toothpaste salesperson names Dietrich Mateschitz moved to Thailand and stumbled upon “energy tonic” which was invented by Chaleo Yoovidhya, it was said to keep those who drink it awake and focused.

Three years later Red bull was introduced in Austria April 1st ,1987 to the market but was doubted to be needed in the market. Red Bull later signed their first two international athletes and entered the UK market and created its first kiteboarding international competition in 1999.

When the Product is Improving

Red Bull nowadays is dominant with more than 43% market share in 2015, still at a high point desired by a lot of people. Red Bull has dominated in less than 3 years. In 2016 it have become the exclusive broadcaster of 6 major music festivals. 

Red Bull focused on targets that are of the age 18-35 years old where they are usually found (college, parties, bars, etc.) by giving free samples they got the people who tried it talking hence attracting more people to try their product.

Sales Hit the Pinnacle and are At Their Highest

Red Bull has sold a total of 6.8 billion cans which also counted up to 8% over 171 countries by 2018 countries growth in consumption included India with +30%, Brazil with +22% and Eastern Europe with the same percentage as Brazil. Ever since Red Bull was introduced to the market in 1987 it has sold about 75 billion cans. Value of the brand is 9.9 billion dollars.

Red Bull performed in three type ways including publicity stunts, events they created and sponsorships. Publicity stunts which include Stratos jump and the Red Bull air force, along with events like Red Bull crashed ice or Red Bull queen of bay this is to attract the attention of the fans of this type of sport and increase their brand awareness; furthermore, sponsorships from electric daisy carnival present in Las Vegas and Coachella which is a great position to be in as all the attendants are their target audience.

Competitive Stage

Red Bull competitions include products like Monster, Rockstar and Full Throttle which were introduced by the US they introduced completion in the price prospective to the segment. Monster trying to copy Red Bull with a similar taste and ingredients also targeting males of the ages 18-25. The major advantage of Monster over Red Bull is that Monster is available in 16 oz. cans while Red Bull is only available in 8.3 oz. cans so Monster is selling a bigger amount for the same price.

Rockstar also a competitor with Red Bull offers different flavors and targets young customers who want to be “wild and crazy” it is said to be 70% real fruit and 100% energy they also where the first to use the 16 oz size which caused all the others to follow aside from Red Bull still using the 8.3 oz cans.

Full Throttle owned by Coca Cola is marketed as a rebellious drink with a size of both 8oz. and 16 oz. It includes plenty of caffeine and contains taurine like Red Bull. Although Red Bull competitions are similar to it and are present in the market no other energy drink could keep up with Red Bull’s 90% of the market share over 100 countries all over the world.

Conlusion

By using social media in artistic videos and visually appealing images, music created by them, and sweet messages they are attracting more customers. Red Bull creates content that their audience find interesting and activities they know their target audience will participate in.

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What the Red Bull Product Life Cycle Looks Like. (2022, July 07). GradesFixer. Retrieved August 15, 2022, from https://gradesfixer.com/free-essay-examples/what-the-red-bull-product-life-cycle-looks-like/
“What the Red Bull Product Life Cycle Looks Like.” GradesFixer, 07 Jul. 2022, gradesfixer.com/free-essay-examples/what-the-red-bull-product-life-cycle-looks-like/
What the Red Bull Product Life Cycle Looks Like. [online]. Available at: <https://gradesfixer.com/free-essay-examples/what-the-red-bull-product-life-cycle-looks-like/> [Accessed 15 Aug. 2022].
What the Red Bull Product Life Cycle Looks Like [Internet]. GradesFixer. 2022 Jul 07 [cited 2022 Aug 15]. Available from: https://gradesfixer.com/free-essay-examples/what-the-red-bull-product-life-cycle-looks-like/
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