Essay On Red Bull Market Segmentation

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Market penetration involves with entering a new market with an existing products (Ansoff, 1957). Red Bull can make changes in the products they offer by introducing different flavours and non-caffeine drinks to penetrate the new market. This diversification of products will show their innovative skills to their customers. The company should improve their existing product and use market research, product adaptation analysis, and legal review to seek expansion for the existing products (McDonald, 2007). Although it could be risky to enter a new market with an existing stuff but, the industry can use market researchers to collect information from customers by studying customer buying patterns and using tools like customer survey and focus groups (Bodner, 2011). They can also use reverse engineering by disassembling their major competitor‟s product to analyze its design features by using their R & D …show more content…

Red Bull can also introduce new kinds of drink such as non-caffeine product with more vitamins plus and more flavours. But they have to make sure that these new products will not only be energy drink. In effect, it will help to freshen the brand image as well as creating entry barriers against other competitors (McDonalds, 2007). This strategy will eventually lead to the increase in market share and customer base. Market penetration involves with entering a new market with an existing products (Ansoff, 1957). Red Bull can make changes in the products they offer by introducing different flavours and non-caffeine drinks to penetrate the new market. This diversification of products will show their innovative skills to their customers. The company should improve their existing product and use market research, product adaptation analysis, and legal review to seek expansion for the existing products (McDonald,

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