Hi All

All the photos taken during our paper plane activity has been uploaded. Please check out the Photo Gallery tab for the lovely photos! =)

Sunday, 6 November 2011

Red Bull Brand Strategy

Having investigated the challenges that Red Bull currently face in Singapore and calculating the worth of the Red Bull brand, we will now look at formulating future growth strategies for Red Bull, so as to ensure that market share can be increased in the long-term.
Taking into consideration ever changing consumer preferences in Singapore, Red Bull should venture into extending its product lines and crafting new product categories to better meet consumers’ needs. With its strong brand reputation, Red Bull will likely be highly successful in extending its current product line, and pushing out new product categories into the market.
In formulating appropriate strategies for Red Bull, it is pertinent that we understand consumers’ lifestyles so as to come up with products that are useful to them, and to also look at what the current competitors in the market are offering so Red Bull can better differentiate itself from the competition.

Health and Wellness Trend in Singapore
Currently, Singaporeans are increasingly placing greater emphasis on having a healthy lifestyle, especially in view of the aging population. The media has played a part in promoting this trend by raising awareness of the need to live healthily. For example, Straits Times publishes a weekly newspaper called Mind and Body, which provides tips such as nutrition and exercise to help people stay healthy.
Furthermore, Singaporeans’ lifestyles are becoming more hectic be it at school or work and this leads to a high level of stress experienced. It is common for people to skip meals or stay up late to meet deadlines. Hence, the need for a healthy lifestyle is even more compelling.
With the impact of the media, there is also a trend of male and female consumers becoming more image-conscious as they aspire to look as good as their favorite celebrities. As a result, consumers are placing more emphasis on improving their inner well-being to boost their external looks.
Due to Singaporean’s hectic lifestyles as well as health and image consciousness, there is a increasing demand for health products such as vitamins and dietary supplements, which are consumed to maintain their well-being, compensate for any dietary deficiencies, enhance looks and to boost performance.

Competitive Offerings
Shark Energy Drink and Naughty G have been identified as the two main competitors of Red Bull in the Singapore market. Shark Energy Drink contains different types of vitamins like B-group vitamins, Patothenic acid and Niacin that provides health benefits. However, this is not a unique proposition because these ingredients are also found in many other energy drinks such as Red Bull.

On the other hand, there is Naughty G, which offers a unique combination of ingredients. One of the main ingredients is horny goat weed that is used in traditional Chinese medicine. Another ingredient used is Ginkgo Biloba, which is used as a memory and concentration enhancer. Also, the ingredient Tribulus Terrestris assists the body to perform in peak condition. Despite containing these ingredients, the sugar and caffeine levels in Naughty G are much higher than that of Red Bull. However, consumers might still perceive Naughty G to be a healthier alternative as compared to Red Bull.

No comments:

Post a Comment

Note: only a member of this blog may post a comment.