The strength of the energy drink industry is what drives the industry. The industry itself has marketing tactics at its advantage and a large customer base. Red Bull as an example had a specific target market of athletes, artists, musicians, and younger people. Focusing on their specific target markets helped them to strongly and efficiently build their brand. They were able to reach out to their target market because of their different marketing tactics and were able to gain supporters and a strong fan base who believed in what Red Bull as a company stood for.
There are not many leading weakness factors in the energy drink industry. Red Bull’s weaknesses did not dictate their success. Due to their unique branding technique, they charged more …show more content…
Due to Red Bull expanding and becoming more than just and energy drink company, their opportunities were endless. They began their expansion with their media house and a phone service in a select few countries and if they continue to expand and build their brand than can have the leading market share in many more markets than just energy drinks.
The threats within the energy drink industry would be the more popular and well-known companies such as Pepsi and Coca-Cola whom were coming out with energy drinks as well. Energy drink companies also have to compete against the existing energy drink companies such as Monster, Rockstar, and Red Bull. There are also a lot of other healthier, cost efficient substitute goods that are available, such as coffee that can give the safe affect. Other energy products such as vitamins and 5 Hour Energy also exists and may cause threats in this …show more content…
Once Red Bull enhances their technology they can first begin with creating a healthier formula that still gives off the same energy affect. This will allow the company to be in compliance with all health regulations. Customers are always looking for the healthiest and most cost efficient product which will steer more people towards Red Bull. More people being willing to buy the product due to its advances will increase Red Bull’s market share. The use of social media will help Red Bull reach out to their customers. Twitter, Facebook, Snap Chat, and Instagram are all leading social media outlets. Being able to advertise Red Bull along with socializing with customers through these social networks will attract and get the attention of millions, especially the younger generation of customers. Being able to communicate with customers through social media will enable Red Bull to do things such as ask customers what kind of product enhancements they would be interested in. This will allow Red Bull to start making products that meet customers’ direct wants which will not only reach customers, but expand their market
There are not many leading weakness factors in the energy drink industry. Red Bull’s weaknesses did not dictate their success. Due to their unique branding technique, they charged more …show more content…
Due to Red Bull expanding and becoming more than just and energy drink company, their opportunities were endless. They began their expansion with their media house and a phone service in a select few countries and if they continue to expand and build their brand than can have the leading market share in many more markets than just energy drinks.
The threats within the energy drink industry would be the more popular and well-known companies such as Pepsi and Coca-Cola whom were coming out with energy drinks as well. Energy drink companies also have to compete against the existing energy drink companies such as Monster, Rockstar, and Red Bull. There are also a lot of other healthier, cost efficient substitute goods that are available, such as coffee that can give the safe affect. Other energy products such as vitamins and 5 Hour Energy also exists and may cause threats in this …show more content…
Once Red Bull enhances their technology they can first begin with creating a healthier formula that still gives off the same energy affect. This will allow the company to be in compliance with all health regulations. Customers are always looking for the healthiest and most cost efficient product which will steer more people towards Red Bull. More people being willing to buy the product due to its advances will increase Red Bull’s market share. The use of social media will help Red Bull reach out to their customers. Twitter, Facebook, Snap Chat, and Instagram are all leading social media outlets. Being able to advertise Red Bull along with socializing with customers through these social networks will attract and get the attention of millions, especially the younger generation of customers. Being able to communicate with customers through social media will enable Red Bull to do things such as ask customers what kind of product enhancements they would be interested in. This will allow Red Bull to start making products that meet customers’ direct wants which will not only reach customers, but expand their market