StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Red Bull Marketing Questions - Essay Example

Cite this document
Summary
This essay "Red Bull Marketing Questions" states that generally, Red Bull will attain a high product and brand recognition by acquiring a high market share. The sales team plans to increase Red Bull's market share by first knowing its market and the consumers…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.8% of users find it useful
Red Bull Marketing Questions
Read Text Preview

Extract of sample "Red Bull Marketing Questions"

Red Bull Marketing Questions Analysis of productive sales performance reveals that a sales team success is a significant facet in its tenure, in the customer groups. Red Bull’s sales force will hold duty to the different customer groups on the basis of sales potential and geography. Defining the territory of Red Bull’s sales force will balance its sales potential and work load. In Australia, the sales team will align the territories according to the potentiality of sales. This will be identified through the peoples ability to buy Red Bull products in the different regions across Australia. High income customers have high potential of consumption than low income customers. Therefore, the sales territories will be divided into high sales prospect and low sales prospects. According to the Australian Bureau of Statistics (2012), Australia has a high number of employed people. The employment rate increased by 0.1 percent and this will result to increase in consumer’s consumption. This provides a basis on identifying the sales team territory. The sales territory will be divided into high sales potential and low sales potential territories. The sales team will be allocated roles to seek and increase sales among the income earning people and the unemployment. The income generating individuals constitute the high sales prospects territory while the unemployment make up the low sales territory. Additionally, the sales territory will be determined geographically. The sales team will be allocated responsibilities in different geographical regions. Different sales representatives will be assigned Victoria, New South Wales, Queensland, South Australia, Tasmania, Western Australia, Australian Capital Territory and the Northern territory (Australian Bureau of Statistics, 2012),. In addition, most people living in urban areas have a higher income than the people living in the rural areas. The sales team will be allocated responsibilities in different rural and urban areas. The size of each territory will be determined to decide the number of sales staff to be allocated. This will ensure that the sales representatives are not given too much or too little to do. This can result to over or under servicing of consumers. The sales personnel will be allocated territories appropriately to avoid over servicing of consumers. This can cost the Red Bull since over taxed sales representatives take on suboptimality in their activities. They will take a remarkably small number of leads; spend less time with existing consumers and spot few potential consumers. The consumers will in turn take their business to substitute providers. On the other hand, appropriate allocation will aid in ensuring that consumers are not over serviced. This will result to increased costs and prices which will indirectly reduce sales. After defining the sales force territory, Red Bull will neither frequently redefine its territory nor change the sales force obligations every other month. This has the effect of damaging the company revenue and weakening prospect and customer relationship. Arguably, none of the consumers want a gyrating door of new sales representatives. This may create an environment of volatility that drags sales which competitors may exploit. When launching a new product or bringing a product to the market, managers frequently commences with an inkling of the profits they desire and enquire the sales levels required to attain it. While setting the sales target, Red Bull Company will also set its target output volume and target revenue. Red Bull sales team targets a total revenue growth of 4 percent for this year. Last year the company achieved total revenue of 57 million US dollars. The sales team targets to increase the sales revenue by 2.28 million US dollars. This is because the team has undergone trainings and coaching which will assist the sales representatives set competitive strategies. Each of the sales representatives will have a set goal that he or she will have to attain. In addition, the sales team has a monthly target of 4 percent per month. An observation of the previous sales trends reveals that the company has had an augmenting trend of sales. In addition, the increased employment rate indicated by Australian Bereau of Statistics (2012) implies that consumer consumption will increase. By increasing sales, the company will attain increased profits. The sales team targets a 5 percent increase in profits. Red Bull Company has experienced high cost, which reduced its profits despite high revenues recorded. The costs incurred by a company determine its profits. The sales costs are the manufacturing and distribution process-related costs of the company. These costs determine the overall costs of producing the products. The sales team will attain an increased profit by cutting down on variable expenses such as travelling, entertainment and lodging. In addition, the sales team plans to cover a large territory. Increased sales and profits go hand in hand with increased market share and product recognition. The energy drink industry is crowded with competitors who strive to attain a high market share. The sales team targets to increase Red Bull’s market share and brand recognition from the current 13 percent to 18 percent. A market share will determine the performance of the company compared to its competitors. The sales team plans to increase Red Bull’s market share through changing the product attributes to suit the preferences of the consumers such as improving quality, adding more distribution channels to make the products available to consumers, and through heightening advertising by increasing product promotion budgets. Good customer relation is an imperative facet that triggers increased market share. This creates a substantial rapport with the consumers resulting to increased sales. Through acquiring a high market share, Red Bull will attain a high product and brand recognition. The sales team plans to increase Red Bulls market share by first knowing its market and the consumers. This will assist the team identify the needs, problems, desires of the consumers. Since there are many competitor products in the market, Red Bull’s sales team may differentiate its products. Additional desirable and unique attributes make the consumers desire the products. Additionally, the sales team plans to inform and create awareness of the desirable attributes of products through extensive advertising. In order to attain high market share and reputation, the sales team plans to segment the Australian Market. Segmentation of markets assists organizations comprehend its consumer’s behavior and attitudes of consumers as well as their desires. References Australian Bureau of Statistics. 2012, September. National Regional Profile 2006-2010. Australian Bureau of Statistics. Retrieved October 2012, from http://www.ausstats.abs.gov.au/ausstats/nrpmaps.nsf/NEW+GmapPages/national+regional+profile?opendocument Read More

 

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Red Bull Marketing Questions Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Red Bull Marketing Questions Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/marketing/1606103-red-bull-marketing-questions
(Red Bull Marketing Questions Essay Example | Topics and Well Written Essays - 1000 Words)
Red Bull Marketing Questions Essay Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/marketing/1606103-red-bull-marketing-questions.
“Red Bull Marketing Questions Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/marketing/1606103-red-bull-marketing-questions.
  • Cited: 0 times

CHECK THESE SAMPLES OF Red Bull Marketing Questions

Investigating of British Consumer Behavior for Red Bull

No study is available that particularly deals with consumer behaviour towards red bull.... With the aim to gain an insight in to British consumer behavior towards red bull, four objectives have been set.... red bull is a kind of energy tonic, which has the potentiality to strengthen physical power and concentration level up to the mark.... red bull is a kind of energy tonic, which has the potentiality to strengthen physical power and concentration level up to the mark....
16 Pages (4000 words) Essay

Whether Red Bull should invest in the Formula 1 Racing Championship next year or not

The red bull has turned out to be on the most popular brands in the drinks and beverage market owing to its production of energy drinks that has helped the concern in gaining a whole new market altogether.... The red bull has turned out to be on the most popular brands in the drinks and beverage market owing to its production of energy drinks that has helped the concern in gaining a whole new market altogether.... Whether red bull should invest in the Formula Racing Championship next year or not?...
12 Pages (3000 words) Thesis

Push and Pull Marketing

red bull also focuses on pull strategy as it sponsors various events round the year such as Formula 1, soap box derby and concerts.... With all these communication mediums in place, red bull has created its image of being relatable to its target market which is young people who are energetic, adventurous, fun loving and enthusiastic all the time.... This paper ''Push and Pull marketing'' tells us that in the marketing world, communication of an organization with its end consumers is mandatory and it needs to be well-integrated with its product so that consumers can develop an association between them....
4 Pages (1000 words) Essay

Marketing Plan of Red Bull

This research paper focuses on describing of a marketing plan of the well-known red bull company.... The researcher focuses on explaining of it's market as well as analyzing the potential consumers of the red bull, it's services and how they are attempting to integrate with the consumer base.... As a function of such an understanding for the need of research and understanding with regards to the markets and the consumer tastes, the following brief summary will detail the market as it exists for red bull energy drinks....
6 Pages (1500 words) Research Paper

Marketing Program for Red Bull

The paper "Marketing Program for red bull" denotes red bull stands apart from the competition in that it does not engage in traditional activities of marketing.... Although such an approach helped to differentiate red bull's products from its competitors, it is not an approach that would be profitable.... Starting from humble beginnings in the late 1970s and early 1980s, red bull has grown into a dynamic and globally recognized energy trek provider....
4 Pages (1000 words) Essay

Marketing Skills and Difficulties of a Marketing Manager

Since 1987, Dietrich Mateschitz is trading with his “red bull GmbH” to reach world leadership in the Energy-Drink sector.... The brand label of “red bull” is ever since associated with strength and endurance in sporting events.... ‘Face value - red bull's Dietrich Mateschitz'.... The paper "Marketing Skills and Difficulties of a Marketing Manager" presents a model based on 5 basic questions to guide the marketing manager, explains how best to keep track of the products and services offered by competitors, how best to know about the latest rivals' schemes, and prepare a realistic marketing plan, etc....
7 Pages (1750 words) Literature review

Red Bull Market Expansion Plan

red bull marketing Plan Table of Contents Question Marketing Audit 4 PEST Analysis (External Audit) 4 SWOT Analysis (Internal Audit) 5 Question 2:Marketing Orientation 6 ... This business plan conducts external and internal environmental marketing audit for red bull, determines red bull's market segmentation, targeting, and positioning strategy in order to identify the organization's marketing orientation, also includes recommendations on marketing promotion....
8 Pages (2000 words) Business Plan

Marketing Plan of Red Bull Company

The author provides an overview of the geographical markets, overall sales/market share, the expectation for future sales growth, profitability potential, and seeking to analyze and understand the firm's geographic growth strategy of red bull company .... With regards to the financial outlook and the means by which the firm can seek to recover in the eventuality that such a marketing plan is a failure, the approach will maintain something of a conservative financial stance....
5 Pages (1250 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us