I. INTRODUCTION
Founded in 1981, Red Bull – an energy drink – quickly became a famous and successful in Thailand. In 1987, Red Bull entered the international play field with a totally new product category, and since then it has continued to authenticate its leading reputation, being the highest-selling energizer all over the world (Red Bull, 2016)
Red Bull is a global energy-drink brand. A global brand is “a brand which is sold in a very large number of national markets on the basis of a single unique brand name and offers considerable economies of scale in marketing and production with the customs and sentiments of all the target nations” (Collins Dictionary of Business, 2005). Thus, available in 169 countries, Red Bull holds the market leadership …show more content…
Sales of energy drink have risen significantly, with 21.5% annual growth from 2009 – 2013 to almost US $60 million and volume of 73.3 million litres. The National Food Institute of Thailand forecasts sales will reach US $73 million in 2016 (Bangkok Post, 2015).
Generally, beverage is a very appealing industry in Vietnam (Business Monitor International, 2012).
III. WHY RED BULL SUGAR FREE?
Red Bull is a global energy brand that has already achieved a sustainable position in the last 20 years in Vietnam for its consumer confidence (Euromonitor International, 2015). However, in the long term growth, it is necessary that Red Bull lift up its brand to the next level by launching a new product with higher health value to customers. In truth, health is the top concern of Vietnamese people (Vietnam Today, 2016).
Understanding the demand of a healthy functional drink, Red Bull Sugar Free is introduced to the market and targets at health-and-sugar-conscious consumers. Containing high quality ingredients, including Caffeine, B-group Vitamins, Taurine, Aspartame/ Sucralose, Acesulfame K, Alpine water (Red Bull, 2016); this product is suitable for Vietnam market, a place with majority of young population who are energy-hunter, and also health-conscious.
IV. IMPACT OF …show more content…
How Red Bull has been marketed
Most of the previous Red Bull products have been successfully marketed in Vietnam in the main four ways. These approaches will be applied in the marketing of the new product.
a. Advertising Based on the survey of 726 interviewees (DI-Marketing, 2015), advertisements on TV is still the most effective way to bring the product to customers in Vietnam. TV is still king in Vietnam, because women – the family decision makers – spend a lot of time watching TV (Breu, Salsberg, & Ha, 2010). Therefore, this is an indispensable technique to market Red Bull Sugar Free.
b. Events
Community events have attracted a vast number of young participants in Vietnam. Consuming products during events have proved the effects of products to users. Therefore, this method is continued with Red Bull Sugar Free for customer’s experiences.
c. Social media
The growth of the Internet allows people easily access information and buys products online. Currently, 51% of Vietnamese population use the Internet, and nearly 80% of which subscribe Facebook (International World Stats, 2016). Currently, Red Bull has 23 million fans on Facebook and Twitter (Red Bull, 2016). This is also a least expensive way of
Founded in 1981, Red Bull – an energy drink – quickly became a famous and successful in Thailand. In 1987, Red Bull entered the international play field with a totally new product category, and since then it has continued to authenticate its leading reputation, being the highest-selling energizer all over the world (Red Bull, 2016)
Red Bull is a global energy-drink brand. A global brand is “a brand which is sold in a very large number of national markets on the basis of a single unique brand name and offers considerable economies of scale in marketing and production with the customs and sentiments of all the target nations” (Collins Dictionary of Business, 2005). Thus, available in 169 countries, Red Bull holds the market leadership …show more content…
Sales of energy drink have risen significantly, with 21.5% annual growth from 2009 – 2013 to almost US $60 million and volume of 73.3 million litres. The National Food Institute of Thailand forecasts sales will reach US $73 million in 2016 (Bangkok Post, 2015).
Generally, beverage is a very appealing industry in Vietnam (Business Monitor International, 2012).
III. WHY RED BULL SUGAR FREE?
Red Bull is a global energy brand that has already achieved a sustainable position in the last 20 years in Vietnam for its consumer confidence (Euromonitor International, 2015). However, in the long term growth, it is necessary that Red Bull lift up its brand to the next level by launching a new product with higher health value to customers. In truth, health is the top concern of Vietnamese people (Vietnam Today, 2016).
Understanding the demand of a healthy functional drink, Red Bull Sugar Free is introduced to the market and targets at health-and-sugar-conscious consumers. Containing high quality ingredients, including Caffeine, B-group Vitamins, Taurine, Aspartame/ Sucralose, Acesulfame K, Alpine water (Red Bull, 2016); this product is suitable for Vietnam market, a place with majority of young population who are energy-hunter, and also health-conscious.
IV. IMPACT OF …show more content…
How Red Bull has been marketed
Most of the previous Red Bull products have been successfully marketed in Vietnam in the main four ways. These approaches will be applied in the marketing of the new product.
a. Advertising Based on the survey of 726 interviewees (DI-Marketing, 2015), advertisements on TV is still the most effective way to bring the product to customers in Vietnam. TV is still king in Vietnam, because women – the family decision makers – spend a lot of time watching TV (Breu, Salsberg, & Ha, 2010). Therefore, this is an indispensable technique to market Red Bull Sugar Free.
b. Events
Community events have attracted a vast number of young participants in Vietnam. Consuming products during events have proved the effects of products to users. Therefore, this method is continued with Red Bull Sugar Free for customer’s experiences.
c. Social media
The growth of the Internet allows people easily access information and buys products online. Currently, 51% of Vietnamese population use the Internet, and nearly 80% of which subscribe Facebook (International World Stats, 2016). Currently, Red Bull has 23 million fans on Facebook and Twitter (Red Bull, 2016). This is also a least expensive way of