The SWOT analysis is the useful way of directing and managing the internal and external factors that affect the organisation. It talks about what the company is at good at, what needs to be improved, and the other things happening outside the company. It stands for Strength (S), Weaknesses (W), Opportunities (O) & Threats
(T). See fig. 2.4.
Fig. 2.4 shows the summary of SWOT analysis done on Red Bull.
opportunities
1.Newer geographies
2. manufacturing unit in Asia
3.Product line extension
4. Red Bull can partner up with other major beverage companies.
4. Can sponsor other sporting activities like professional gulf tournament.
Strength
1. Market leadership
2. Brand name
3. successful in promoting its products.
4. The 250ml can is …show more content…
Expensive as compared to other energy drinks.
2. Offers only three different drinks.
3. No patent on its recipe
HOW TO FIX SWOT ISSUES
For the strengths/opportunities, Red Bull can use „word of mouth‟ campaign to promote their products. In the case of the weakness/opportunites, the company can come out with cheaper version of their products as well as coming out with new flavors.
In order to deal with the threat issues, Red Bull can promote positive marketing campaign against the health concerns and make sure competitors don‟t take over.
MISSION, VISION AND STRATEGIC OBJECTIVES The Mission statement
The mission statement in this study defines the industry‟s business, its objectives
and its approach to reach those objectives. The mission statement of Red Bull is to;
• Be the premier marketer and supplier of Red Bull in Asia, Europe, and other parts of the globe by building long-term relationships with the people who can make it become a reality.
The Vision statement
The vision statement of Red Bull describes the desire future position of the company. Red Bull is globally recognised as one of the world‟s leading providers of energy drink and soft drinks. The company is noted for its high quality drinks and their vision is …show more content…
This objective goes straight with Red Bull‟s mission statement “to remain as the market leader and continue to focus on global expansion”.
• To increase superior customer satisfaction in a highly profitable and efficient manner by 10% in 2016 through the use of customer services and IT department.
• To provide non-caffeine drinks for the kids between 8 to 17 years and other people who do not drink for energy purpose by 2014.
• To design an expansion plan by 2015 through which the company can operate in other geographical areas like Asia and Western part of Africa. This is achievable since the company has decided to go for expansion and has also opened new manufacturing units.
• To implement some cost reduction techniques using guerrilla marketing (low cost/no cost method), carpet-bombing method (flyers), referral networks, the internet and many more so that the price of the products can be reduced by 10% in 2015.
KEY ISSUES & FINDINGS FACING RED BULL
The following issues were noted from the strategic marketing audit;
• Growing Competition and competition from emerging
(T). See fig. 2.4.
Fig. 2.4 shows the summary of SWOT analysis done on Red Bull.
opportunities
1.Newer geographies
2. manufacturing unit in Asia
3.Product line extension
4. Red Bull can partner up with other major beverage companies.
4. Can sponsor other sporting activities like professional gulf tournament.
Strength
1. Market leadership
2. Brand name
3. successful in promoting its products.
4. The 250ml can is …show more content…
Expensive as compared to other energy drinks.
2. Offers only three different drinks.
3. No patent on its recipe
HOW TO FIX SWOT ISSUES
For the strengths/opportunities, Red Bull can use „word of mouth‟ campaign to promote their products. In the case of the weakness/opportunites, the company can come out with cheaper version of their products as well as coming out with new flavors.
In order to deal with the threat issues, Red Bull can promote positive marketing campaign against the health concerns and make sure competitors don‟t take over.
MISSION, VISION AND STRATEGIC OBJECTIVES The Mission statement
The mission statement in this study defines the industry‟s business, its objectives
and its approach to reach those objectives. The mission statement of Red Bull is to;
• Be the premier marketer and supplier of Red Bull in Asia, Europe, and other parts of the globe by building long-term relationships with the people who can make it become a reality.
The Vision statement
The vision statement of Red Bull describes the desire future position of the company. Red Bull is globally recognised as one of the world‟s leading providers of energy drink and soft drinks. The company is noted for its high quality drinks and their vision is …show more content…
This objective goes straight with Red Bull‟s mission statement “to remain as the market leader and continue to focus on global expansion”.
• To increase superior customer satisfaction in a highly profitable and efficient manner by 10% in 2016 through the use of customer services and IT department.
• To provide non-caffeine drinks for the kids between 8 to 17 years and other people who do not drink for energy purpose by 2014.
• To design an expansion plan by 2015 through which the company can operate in other geographical areas like Asia and Western part of Africa. This is achievable since the company has decided to go for expansion and has also opened new manufacturing units.
• To implement some cost reduction techniques using guerrilla marketing (low cost/no cost method), carpet-bombing method (flyers), referral networks, the internet and many more so that the price of the products can be reduced by 10% in 2015.
KEY ISSUES & FINDINGS FACING RED BULL
The following issues were noted from the strategic marketing audit;
• Growing Competition and competition from emerging