Marketing Plan for Red Bull
This report intends to present a marketing plan for launching energy drinks in UAE market. The purpose of this report is to identify the scopes available for the proposed energy drink brand to operate in UAE market. In order to estimate the expenses, a financial budget has also been included in the report.
An Overall assessment
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.
Setting of goals
The following goals will be achieved within the period of next 2-3 years:
• To become a market leader in the UAE market in the segment of energy drink.
• To ensure sustainability through positive growth of customer base and profitability.
• To identify the risks for launching energy drink products in the new market.
• To recommend strategies for ensuring competitive edge in the concerned segment.
Identifying the target audience
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.
Marketing Plan for Red Bull
Other Free Papers from this subject
- Influence Of E-service Quality On Consumers Online Repurchases Intentions: An Empirical Study Of Alibaba
- Online Marketing Strategy: The Restaurant
- The Factors Influencing Attitudes Towards Mobile Phone Advertising In The Field Of Electronic Product Project In Uk
- The Impacts Of Social Media On Purchase Intention And Brand Loyalty Of Chinese Young Consumers: A Study Of Luxury Fashion Brand
- Importance Of Integrated Marketing Communication (imc) For An Organisation
- Analysis Of Corporate Strategy Of Zara
- Social Impact On Consumer Behaviour
- Marketing Plan For Yollies
- Developing A Marketing Plan: Pg Ice Tea
- Mcdonald Promotion Strategy In Oman And Middle East