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Redbull Branding Strategy

In: Business and Management

Submitted By fionafleur
Words 1192
Pages 5
Question 2. (by Shenhua Huang)
Theory section
Market segmentation strategy involves dividing the market into different groups and how a market is segmented is based on certain variables. A Company must identify the parts of the market it can serve best in order to reach their specific target market as well as to achieve the maximum profitability. According to Prof. Dr. Christian Schuhart, several criteria used for different market segmentation include: demographical, socio-economical, psychographic and observable behavior segmentation.

Demographic segmentation is market segmentation based on various demographic factors such as age, gender, marital status, social class, etc. It helps the firm to divide the market into several segments or groups, each having a common variable and target each of these groups to enhance its performance; In Psychographic segmentation category, the attitudes and lifestyle of the consumers are considered; Socio-economical segmentation is done on the basis of profession, education, income etc; Behavioral segmentation is based on the customer’s price behavior, brand loyalty and shopping locations towards the purchase of intended products.

Market segmentation is the basis for marketing strategy development. A company needs to design the right strategies to develop the relationships between its products to right consumers.

Case section
In terms of Red bull, the demographic and psychographic segmentation strategies are applied in their product design and branding approach.

A key component of Red Bull’s global success is that it takes social variables into account on a global scale. This segmentation plays an important role in determining if the product is targeted for mass market or focused on a niche market. Red Bull’s targeted market approach wins across the globe. Its signature slim, silver-colored, 8.3 ounce can bottle has…...

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