This report intends to present a marketing plan for energy drink products in the UAE market. The main purpose of the marketing plan is to identify the target customers, assessing their demand and formulating strategies for the successful market penetration. The marketing plan is developed for enhancing the sales figure of Red Bull’s energy drink in the national market. This marketing plan has set the goals for Red Bull, and also included the target audience for the product. An in-depth research has been conducted to evaluate the present status of the energy drinks in the UAE. This research has also helped to assess the scopes of the company. Market research plays a significant role in the marketing plan by evaluating the preferences of the consumers. In addition, this research also enables the marketers to identify the external factors that can affect the business performance of the company. On the other hand, the marketing plan also provides an opportunity to review the strengths and weaknesses of the rivals firms of the market.
Based on the market research, the marketers can assess the requirement of the resources. In addition, preparation of budget is also considered as an integral part of the marketing plan. Thus, it can be stated that it provides a platform that can be utilized by the marketers for the successful revenue generation through the sales of the proposed product. On the other hand, this marketing plan has also included the risk factors launching the product in the new market. Based on the outcome of this marketing plan, the marketers can formulate tactics for attaining competitive edge over the rivals.
The following goals will be achieved within the period of next 2-3 years:
For reaching to the maximum number of customers with the proposed product, it is important from the perspective of the marketers to identify the correct target audience. In order to set the target audience, the marketers mainly focus on the factors such as age, sex, income and social status. Energy drink products are mainly associated with the youth. More precisely, the sports enthusiastic people are assumed to be more associated with such products. Thus, the marketers of Red Bull can focus on the people aged between 12-35 years. The company will significantly focus on the school and college students and the youth engaged in the sports like football, tennis or any other form of athletics. However, as in the UAE, the percentage of female participating in the sports activities is significantly lower, the marketers of the energy drink company will mainly target the males.
As the energy drink products of Red Bull are expensive compared to that of the other such local products, the income level of the people and social status of the youth play an important role. Thus, the company will target on the youth from high or upper middle class family, based on the income level. However, in this case, the marital status of the target audience will not be considered as a significant one.
According to the research data published by Coca-Cola, it has been found that the consumption of energy drink products in the UAE is approximately 12 million per annum. Coca-Cola has recently launched its new energy drink Burn, in the UAE market with a king-size package. However, Burn has already been launched in the UAE market in 2007 as a 250 ml package; and has been replaced recently with a size which is its double. However, in this context, the company has mainly mentioned the demand of the consumers. Based on this research, it has been found that energy drink has mainly been preferred by the male consumers of the UAE market aged within 19 to 29 years. Most significantly, an energy drink is considered as one of the best options for the youth of the UAE to quench their thirst.
On the other hand, the research has also revealed that due to the hot and humid climate of the UAE, the energy drink products have a high demand. Specifically, for the sportspersons, energy drinks are essential as the chances of dehydration are quite high due to their climate. Moreover, it has also been found that in the UAE market, 500 ml of energy drink products are more preferred by the customers, than those with a lesser quantity. In addition, the research has also revealed that 15% of the entire population of the UAE consume energy drinks regularly. Based on this fact, it can be inferred that the products like energy drinks have a significant demand in the UAE market. Demand for the product indicates the huge opportunity for the marketers to explore the concerned market. According to the market survey, it has been found that for meeting the demand of the consumers in the UAE market, it is important for the marketers to combine a product that deals with daytime energy drinks and are of a bigger size.
The age group between 19-29 years consists of 70% of the population in the UAE. Therefore, it can be stated that a majority of the population of this country can be the target audience for the marketers of energy drinks such as Red Bull.