Red bull is the beverage company leading the market with its energy drinks even before giants like Coca-Cola, Pepsi entered the market. The major component which differs from every other beverage company and surges their strength is their marketing strategy and involvement through participation.
• Marketing strategy: Their marketing strategy differs from their competitors where they follow non-traditional marketing strategies. They started by sponsoring some extreme sports to create a word of mouth considered as their pre-marketing campaign. Once they entered the market they specially formulated their drinks that are different from traditional soft drinks. They are different and unique with their proposition in the market which leads them to continue to thrive in the market.
• Involvement through participation: They introduced a seeding program through their strong base of the brand ambassador who gets free samples to make everyone test it. They encouraged young professionals through their participating methods and to get exposure. They also targeted sports-related influencers to spread positive word of mouth in the market which still helps them grow.
What are the pros and cons of their non-traditional marketing?
Pros and cons of Red bull’s non-traditional marketing tactics:
Pros:
• Targeting a specific customer base. Their target customer is youth and they are sponsoring sports events.
• It’s less expensive. Their campaigns are mostly physical which is less costly.
Cons:
• The ROI is unpredictable. It’s hard to measure the Return on investment.
• Chances of poor executions. This type of campaign is dependent on the executor so it’s also unpredictable.
What is the unique preposition of Red bull?
Red Bull adopted a unique proposition that differs from any other beverage company. Their target group is youths who are more engaged with sports and thrill and sponsoring the sports events are specially designed for their segmented TG. The current strategies represent the brand image which represents their unique propositions so they should follow their non-traditional marketing tactics.
• Sponsoring in sports events is one of their unique marketing strategies. The beverage market is constantly changing with a variety of flavors. They sponsor different sports events engaged with youths who are their TG. So, it’s a proven fact that they are encouraging the youths to conquer and they are motivating them through their campaign. But they have to evaluate the market constantly to understand their target customers and make sure their strategy is effective.
Novelty and risk factors will appear at any time while thriving the market and what they have to do is an approach in a competitive way and invigilate the market thoroughly.Red
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