Case Study - Red Bull: Rampaging through Global Markets
1. What segmentation base has Red Bull adopted to target customers? How should Red Bull further segment the market in the future?
Red Bull have adopted a segmentation base strategy relating to market demographics. In particular the company has targeted young active people aged 16 – 29 years. Red Bull also use geography, identifying mainly university students and urban professionals who needed an ‘energy boost’ throughout their busy schedules and activities. Mateschitz’ strategy aimed to target opinion leaders, believing that “the authority of one alpha bee can influence the buying habits of hundreds”. The Red Bull segmentation…show more content… It is for this reason that the company aligns itself with the young male - fast paced and energetic, interested in extreme sports, risky behaviour and never satisfied with the last thrill. The company too, is never satisfied, continuing sponsorship of extreme sports, owning Formula 1 racing teams and even developing its own sports such as BMX bike riding, Kite Boarding, Freeskiing, paragliding and more!
The company is able to continually satisfy the needs of the market, arousing the customer with exciting new promotions and events which challenge the limits of human belief. For example, the Red Bull sponsored BMX events where the riders are attempting and completing unseen tricks and ‘death defying’ acts on a weekly basis.
The company has also attempted a viral marketing strategy, in order to get the product to the consumer in a cheap and effective way. However, these efforts are also well calculated, for example, the drivers of the Red Bull VW Beetle are generally extremely good looking females aged 19 – 28 years, attractive and corresponding for the targeted young male.
3. Describe the brand personality of Red Bull. Why do you think the concept of brand personality is so important to Red Bull?
Brand personality allows the consumer to develop a meaningful attachment to the product. People do not develop meaningful, long lasting relationships with the thing itself, it is when the consumer is able see the product with a certain persona, with