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Red Bull Marketing research Introduction to Marketing 1 7/03/2014 1. Design of the research 1. 1 Objective Our mall objective of Red Bull Questionnaire Is to find out the target population and understand that their consuming behaviors. In this sense we tried to figure out first what comes their mind firstly as an energy drink and their prior factors to buy. We constructed survey in an order of the expectations of consumers from an energy drink and Impacts of Red Bull on them respectively.
For the understanding of the range of meeting expectations’ of consumers about Red Bull we asked the frequency f energy drink consumptions in the questionnaire. Also the organization of the questions mainly constructed as multiple choice and the other option to make easier for the participants. The other important thing that we want to analyze in the survey Is about how people get knowledge about Red Bull and where are they provide It. With this parts of questionnaire we can understand that our focus areas and arrange our marketing strategy’s intensity in order to increase knowledge and profit clearly.
Another important factor, which included in our objective, is the comparison with the other brands. In this way we realized our weaknesses and strengths In the market. Also we did all analyze In the sense that age and gender factors to get clear knowledge. 1. 2 Target Population encourage better, less biased and more in deep discussion. Such groups decided in the sense of age and gender. Our questionnaire results showed that focus group participants’ age range is 18-29 as we expected. We believe that this age range represents Red Bull customer base well enough, in such age range we have 84% participation to the survey.
The higher intensity of the age distribution is between 21-29 with 49% of total questionnaire. Also there are few Red Bull consumers between the range 40-49 and 50-59 with the ratio 7% for both. However there is no participation in the ages of 17 or younger and 60 or older ranges. As shown in the graph our target population is the age range between 18-29. In terms of gender men participation has outnumber to women’s with the 61% and 39% respectively. 1. 3 Site of the Sample In the Red Bull marketing questionnaire we tried to get answers from a wide range in the sense of countries.
Different consumer groups in different regions provide us clear and unbiased point of views to market and strategy adjustment. Totally we get 113 answers from several countries, but for sure our main consumer group is from Spain with 69 participations. However also we get 19 participations from Turkey plus Italy, Ukraine, Hong Kong and USA. In this way the questionnaire had more global view and gave us a chance of to find out common attitudes of energy drink consumptions. 1. 4 Questionnaire 1 . When you buy an energy drink, what is the brand that come to your mind?
Monster Burn -ROR XSL Attitude Other 2. Which factors are important for you to purchase an energy drink? Taste Brand Image Price 3. How often do you consume energy drinks? Several times a week Once a week Once a month More than once a year Once a year 4. Have you ever tried Redouble? Yes No 5. How did you know about Redouble? TV Advertisement Wall ‘ billboards etc) Word of Mouth Sport Events Sponsorships 6. Where do you buy Redouble? Wholesaler Restaurant Vending Machine Supermarkets Convenience Pub 7. What is the most that you like about Redouble?
It keep me to be active during the day I can mix it with other drinks 8. Which version of Redouble do you prefer? Original Sugar free 9. Which factors may influence your decision to buy Redouble? Brand name Ads Brand Sponsors Events Word-of-mouth I Just buy it 10. How would you describe Redouble in comparison with other energy drinks More expensive Cheaper Lower quality Better taste Worse taste 1 1 . What is your gender? (*) Male Female 12. Which category below includes your age? (*) 17 or younger 18-20 21-29 30-39 40-49 50-59 60 or older 13. In which country do you live?
The first graphic gives you the idea that Red Bull owns the majority of the market because people tend to think about Red Bull before any other brand, Monster and Burn have some relevance in people’s minds also. 2 The answers indicate that for people, when they are buying an energy drink, they are the most about the taste, and then the price. They don’t tend to think about their health or the Brand image. 3 This is not a kind of drink that people consume every day, but the graphic shows that they consume it sometimes, more than once a year .
I don’t think that these answers give us a clear idea however. Well, more than 90% of the people we’ve asked have tried Red Bull at least once, probably much of them when they tried theirs first energy drink. That gives you the idea that Red Bull is a brand that has a lot of importance in the market, and they have the leadership in his sector. Red Bull has a lot of ways to make people know them, the most important one seems to be the TV advertisement (47%), but the sport Events and the Sponsorship has nearly 30% combined, the Word of mouth is obviously a normal consequence of the brand’s leadership. Products in a lot of places, the questionnaire tells us that people use to buy it in the supermarkets (64%), maybe because of the cheaper price, they tend to buy it also in Bars or pubs, probably when they are hanging out with their friends. 7 This question shows that our clients buy Red Bull because of its taste but also cause it keeps you awake to be able to make different activities with a 100% of energy. 8 From all of our range of products derivatives from Red Bull energy drink, our costumers agree that the Original one is the most popular.
The rest of respondents, a 12% prefer the Sugar Free version and a 7% doesn’t really care. 9 To the question of factors that may influence the client when buying Red Bull, a 75% of the respondents answer they buy it because they are conscious of everything that surrounds Red Bull as a world brand. However, a 36% of people are said not to be affected for any factor when buying it. When costumers are asked to compare our Red Bull energy drink with other products of the same kind, they believe it has the best taste and the highest quality, but also that it is the most expensive one. 1 Most of the respondents for Red Bull questionnaire has been Males, a 61%; Just a 39% were Females. 12 The range of people that has answered this questionnaire was people from 18 to 29 years old, so we can assure that they are our target clients are young people between those ages. Impact of the results of each question. 1 . When you buy an energy drink, what is the brand that comes to your mind? The iris graphic shows Red Bull’s powerful brand image, which makes it stay ahead from its competitors.
But the company must continue developing the brand’s image, otherwise it could be difficult to maintain its position as this market is getting highly competitive with the continuous entrance of new brands. And some of them are owned by very big companies like Coca-Cola or Pepsico which are already established in other markets, making them even more dangerous. 2. Which factors are important for you to purchase an energy drink? The research also shows that the most important factors for the people who buy energy drinks are taste and price.
This means that the company should create more Red Bull varieties, like adding new flavors in order to reach a higher number of customers. Its most important competitors have applied this strategy already, so if Red Bull does it as well this could be a huge improvement and also give a big boost to the company’s sales. Regarding to the price, Red Bull could also improve its production process or reduce costs in order to make the drink cheaper and gain even more market share. 3. How often do you consume energy drinks? People don’t consume energy drinks as often as other type of drinks, it depends on he needs customers want to satisfy.
This drink has been strongly advertised as a drink to consume when you need to activate yourself before or during a high demanding activity, so people have this idea in mind when they purchase this product. A good way to reach a higher number of customers could be to advertise it also as a casual drink you can consume in every situation, being also possible to consume it for pure pleasure if you want. 4. Have you ever tried Red Bull? Another aspect shown by this survey is that Red Bull has been tried by almost all the asked people, showing that is one of the most popular brands in this sector.