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Business Plan for Red Bull

Essay by   •  October 20, 2015  •  Research Paper  •  3,795 Words (16 Pages)  •  1,550 Views

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Business plan for Red Bull

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16 December 2013


Executive Summery

        A business plan is a very essential marketing tool. It is a tool that is used as part of the marketing strategies adopted by an organization. In the current extremely competitive markets, business plans are vital for the success of organizations. They enable organizations plan on how they engage the market. A detailed plan provides details of procedures, processes and activities to be carried out by an organization in meeting the needs of different markets. This report evaluates a business plan that should be adopted by Red Bull. The report does this by giving an overview of the Red Bull in the beverage industry, the marketing strategies adopted by the firm, and the financial analysis of a year based on changes in its business model.


Table of Contents

Executive Summery        

Business Overview        

Product and services        

Promotion and advertisement        

Objectives        

SWOT Analysis        

Market analysis        

Target market        

Targeted share        

Market trends        

Competitors        

Competitive advantage        

Benefits to clients        

Sales and Marketing Plan        

Customers        

Pricing and distribution        

Customer service        

Operating plan        

Business location        

Equipment and technology        

Environmental factors        

Management and Organization        

Key employees        

Red Bull Management organization chart        

Policies and procedures        

Financial Plan        

Income statement:        

References        

Business Overview

        Red Bull Gmbh is a company that produces and distributes Red Bull energy Drink. The company was founded by Dietrich Mateschitz in 1987 (Red Bull, 2013). It is headquartered in Fuschl am See, Austria (Red Bull, 2013). The entrepreneur came up with the Red Bull concept from an existing energy drink which is called Krating Daeng. Krating Daeng was introduced to the market as an energy drink by a billionaire named Chaleo Yoovidhya in Thailand, 1976 (Red Bull, 2013). The term Krating Daeng loosely translates to Red Bull in English. Dietrich Mateschitz modified the ingredients used in Krating Daeng creating a unique taste that has been able to develop a global appeal (Red Bull, 2013). Together with Chaleo Yoovidhya, Dietrich Mateschitz made Red Bull a global success. Red Bull is owned by Chaleo Yoovidhya and Dietrich Mateschitz who own 49% stake each with the remaining 2% owned by Yoovidhya’s son Chalerm. Mateschitz, is in charge of running the company (Red Bull, 2013).

Product and services

        The company’s main product is the Red Bull energy drink which packaged in a tall and slim blue-silver can (Red Bull, 2013). The can is synonymously associated to this popular brand. In Thailand and some parts of Asia the brand is sold in wider gold cans with the name Krating Daeng or Red Bull Classic (Red Bull, 2013). Red Bull is a legal company that obtained the license to trade in the energy drink and associated products. Some of the other popular products and services that the business is engaged in include; Red Bull Cola, Red Bull Energy Shot, Red Bull Sugar-Free, Red Bull Total Zero, Red Bull Racing, and Red Bull Racing Team (Red Bull, 2013).

Promotion and advertisement

        Red Bull’s products are promoted and advertised by the Red Bull team which comprises of knowledgeable entrepreneurs and dynamic individuals who are widely spread across the globe. The team offers the consumers with memorable customer experience that is aimed at creating consumer loyalty (Red Bull, 2013). They are passionate about what they do and they ensure that consumers receive the company’s product where and whenever is considered most convenient. The company markets its products through numerous Television, radio and publication advertisements, as well as events such as the red bull air race and red bull crashed ice (Sadler, 2010). The company also uses its sports team ownerships to increase the brand awareness, and it uses various celebrity endorsements and music through the Red Bull Records to ensure that its products are extensively marketed to the consumers.    

Objectives

The company’s mission is to become the leading producer and distributer of energy drinks across the globe. So far it is in the right direction and it can be considered as the global leader in the energy drink market having the largest market share. In 2012 alone the company sold more than 5.2 billion cans (Red Bull, 2013). The company believes in trading in products that are safe and healthy for the consumers. It has a priority of conserving the environment, ensuring that communities are safe and that it contributes significantly to the growth and stability of the economy. The company intends to achieve this through building long term relationships with the people who enable it to achieve its goals. The company’s mission statement is: “To Spread Our Wings Over The World” (Red Bull, 2013). This is in line with the company’s brand slogan which is: “Red Bull Gives You Wings” (Red Bull, 2013). With the mission statement the company is dedicated to upholding high quality standards whilst maintaining global market leadership in the energy drinks industry. The company is also dedicated to offering quality customer service to its consumers. At the company, employees are highly valuable and the organizational culture fosters the sharing of best practices. The employees receive adequate coaching making the organization one of the most preferred organizations to work for in the job market (Red Bull, 2013).

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