red bull gmbh - ib union

Red Bull GmbH

PRINCIPLES OF INTERNATIONAL MARKETING Exam: 72 Hours Individual Home Assignment

B.Sc. International Business

19.03.2019 – 22.03.2019

Number of Pages: 10

Number of Characters (Incl. Spaces): 22,746

Student Number:

Student Number: Submission: March 22, 2019 72 Hours Individual Home Assignment Principles of International Marketing

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i. Introduction Red Bull GmbH (henceforth Red Bull) was founded in 1984. The company produces and sells energy

drinks to more than 100 countries worldwide. In 2013, Red Bull had a turnover of almost €5 billion

and nearly 9,000 employees (MarketLine, 2013). This paper will touch upon Red Bull’s

internationalization, the situation of the firm, internally and externally, the most desirable market

for expansion and the needed marketing mix, and the best strategic option for Red Bull in the future.

ii. Delimitations In this paper, I have limited my use of data to the year 2013 being the latest, as this is the year that

the case is from. This is done to be able to utilize the case material to answer the specific exam

questions. Furthermore, this means that the external sources and data used will not be from later

than the year 2013. This is expected to have an impact on the analyses, discussion, and conclusion

of this paper in the sense that it is assumed that Red Bull has not implemented any strategic

decisions after 2013. Furthermore, I shall not refer to the case material or the main textbook

(Keegan, 2016) with a source, when I use the data from this in the paper.

1. Characterization of Marketing Strategy and Internationalization Theory

Looking at the marketing strategy, there are three options for a company: Global, Local and “Glocal”.

Global strategy focuses on a very standardized product and branding. Local strategy, on the

contrary, focuses on localizing product and branding to fit the specific market that it is on. The

“glocal” strategy is the mix of either global branding and a local product or vice versa. After reading

the case of Red Bull it is deemed that the company is using the global marketing strategy, as the

product and the branding is nearly the same on almost all the markets. Looking at the

internationalization theories, factors indicate that Red Bull has followed both the Uppsala model

and the Born Global approach. Firstly, it started in Austria and then, after a few years, started to

move towards the markets closest by, being Hungary, Germany, and then the UK. Secondly, Red Bull

has presumably entered the markets with a low market commitment in the beginning, say by

exporting, and has then followed the Uppsala model, as the market commitment has increased

gradually from sporadic export to doing FDI (foreign subsidiaries). But, even though Red Bull will

likely be categorized as international, it only has one production facility; in the home market,

Austria. Thus, it has not reached the last level of market commitment in the Uppsala model. So,


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thirdly, while aspects of the Uppsala model fit the case of Red Bull, we also see tendencies of the

Born Global approach, as it has expanded very rapidly after its initial internationalization process.

2. SWOT Analysis

Internal Situation

Strengths Weaknesses - First-mover advantages - Leading brand in all markets - Experience - Well-known brand - Differentiated approach to the four Ps - Financed on operating cashflows - Many functions

o Off- and on-trade

- Unhealthy products - Only one production facility - Narrow product portfolio - Expensive promotion - Bad competitive response in North

America

External Situation

Opportunities Threats - High growth for energy drinks

o CAGR of 16% - Increasing trend for energy shots

outside the US

- The development of non-impulse-oriented off-trade distribution

- Competition, especially in the North American region

- Health focus of consumers - Regulations and bans - Expansion of non-impulse off-trade

presence – the fashionable image

Strengths: Red Bull has several strengths. Among the most significant is the experience and first-

mover advantage, which Red Bull still today reaps the benefits from, as the company is one of the

leading brands in all regions in which it is represented. Other than that, Red Bull has a strength in

its very well-known brand. The level of awareness can be a result of the seniority and that Red Bull’s

marketing mix is differentiated from the competitors’. Financially, Red Bull has a strength given that

its growth and investment is financed from the operating cash flow. Finally, the Red Bull product

can be consumed in various scenarios: to stay awake, be it as a truck driver or a student writing an

exam, as a mixer in drinks, and as an energy boost for athletes.

Weaknesses: A weakness for Red Bull is that it produces and sells an unhealthy product. As will be

mentioned under threats, this does not correlate well with the increasing health focus. Also, related

to the product being unhealthy, Red Bull has only two flavor variants of the energy drink, which can

make it riskier for Red Bull if the product e.g. gets bad publicity. Then the company would not be

able to rely on other product while finding a solution. Also, Red Bull spends around 40% of revenues

on promotion, which is a rather large amount. Another weakness appears to be the competitive

response of Red Bull. When Monster gained market shares from Red Bull in the US, one of the main


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reasons was Red Bull’s slow response to the competitor’s launch of larger cans. Furthermore, it

might prove costly to only have one production facility in Austria from which the company produces

and distributes products to subsidiaries and distributors.

Opportunities: An opportunity for Red Bull is the growing market for energy drinks. The compound

annual growth rate is 16%. Another is the increasing popularity for energy shots outside of the US

market. This is mainly in Europe, Asia and Australia. It is a possibility to pursue for Red Bull, as they

have the strengths to do so. Finally, a big opportunity for Red Bull is the development of non-

impulse-oriented off-trade distribution. This creates an opportunity for Red Bull to develop new

packaging formats.

Threats: Red Bull has to accustom itself to some threats. First of all, there is the competition.

Especially in the US, Red Bull must react to fierce competition, in particular from Monster. Another

big threat for Red Bull is the increasing health focus around the world. This will be elaborated on in

question 5. When, as mentioned, Red Bull sells a rather unhealthy product, this can have negative

impact for the company. In relation to this, regulations and bans pose a threat for Red Bull, as seen

with bans in France and Denmark among other countries. Also, the development of non-impulse-

oriented off-trade distribution, also an opportunity, creates a threat for Red Bull’s fashionable

brand.

3. International Market Selection and Marketing Mix

In this question (3), the sub-questions (3.1-3.4) will be answered. The answers will mainly be relying

on the Market Attractiveness – Competitive Strengths (MACS) analysis from 3.1. I will limit my

elaboration to the criteria with the highest weights.

3.1 MACS Analysis

The criteria for the determination of the market attractiveness has been found and weighted looking

at Red Bull’s specific situation. The GDP per capita (World Bank, 2013) is an important criterion, as

it says something about the purchasing power of the consumers in the market. As Red Bull sells at

a premium price, this is weighted 15. Furthermore, consumption, in liters and growth in

consumption (Euromonitor, 2013) are important criteria, as it shows whether Red Bull can expect a

demand for its products. The most important of the two is the consumption in millions of liters,

which is why this is weighted with 20 and growth in consumption is weighted 10. Finally, the psychic


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distance from the home market, Austria, is important focusing on the cultural differences that Red

Bull might encounter when expanding further on the market. This is measured from Hofstede’s

cultural dimensions (not counting indulgence) (Hofstede-Insights, n.d.) This means that the lowest

is the best. This criterion is weighted by 15. Conclusively, it is shown in Table 11 it is shown that

Japan has the highest score and is the most attractive market. This is mainly due to its high GDP per

capita, political stability, consumption and low psychic distance.

In table 2 is the competitive strengths of Red Bull in correlation with the four markets2. First is how

the product fits the market demands. This criterion is important for Red Bull, because it gives an

indication of whether the product will be well received by consumers in the market. Therefore, it is

weighted by 20. The prioritization, Japan as the best, is made from the knowledge that sales in Japan

(80%) is mentioned as one of the reasons of the recent success of Red Bull. In the other countries,

China has the largest nominal consumption and growth in consumption of the countries, which is

why the country ranks number two, looking at the product fit. As with the product fit, there is no

data, specifically, on the local market network of Red Bull in these markets. The criterion gives an

indication of the liability of foreignness that Red Bull might encounter when expanding further on

the market. It is assumed based on the current market share of Red Bull in the given markets

(Euromonitor, 2013) and the demand for energy drinks (derived from the growth in the

consumption). Finally, psychic distance and competitive intensity are seen again, both weighted 20,

as they are essential parts of the competitive strength of Red Bull in the given markets. As seen in

Table 2, showing the competitive strengths, Japan is the market in which Red Bull can exploit its

strengths the most. This is mainly due to high scores in the product fit and a low psychic distance

from the Austrian market.

1 The nominal values of the criteria are shown in Table 3 in Appendix 2 2 The nominal values of some of the criteria are shown in Table 4 in Appendix 3


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Now, as a conclusion on the MACS analysis, Japan scored the highest points in both MA and CS. This

means that Japan is the market for Red Bull to choose regarding further expansions. This is visualized

in Figure 1, showing a MACS scatterplot chart of the market attractiveness on the vertical axis and

the competitive strengths on the horizontal axis.

3.2 Identification of Target Segment in Japan

There are four kinds of segmentation approaches: demographic, psychographic, benefit and

behavior. Target segments for Red Bull should be identified through the demographic and

psychographic segmentation approaches. From the case material it is known that the main target

segments of Red Bull are young adults (16–29), young urban professionals, postsecondary school

students and club-goers. These main target segments will be the same in the Japanese market. The

first segment, young adults, is found from the demographic segmentation approach, as it regards

age specifically. Young urban professionals and postsecondary school students are also segments

found from the demographic segmentation approach as they regard the occupation and education

of the segments, respectively. The last segment, club-goers is from the psychographic approach, as

it regards the life-style, club-going, of the segment. Also, within the target segment in Japan, the

income is important as Red Bull sells at a premium price. This is also demographic segmentation.


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3.3 Identification of Main Competitor in Japan

The main competitor is the market leader in the Japanese market for energy drinks. This is Otsuka

Holdings Co Ltd (Otsuka Pharmaceutical Co Ltd) (henceforth, Otsuka), which has a market share of

22.7% (Euromonitor, 2013) in the Japanese market in retail sales. In Table 4, Red Bull and Otsuka is

being compared on five factors; Target segment, product, promotion, distribution and price.

Table 4: Comparison Red Bull Otsuka

Target Segment - young adults (16–29) - young urban professionals - postsecondary school students and

club-goers - Gen Y

- Young people - Likely businesspeople - Health-conscious

Product - Red Bull Energy Drink - Two variants - Also, cola and energy shots - Cans

- Oronamin C Drink - Carbonated nutritional drink - Two variants - Small bottles - Many other products

Promotion - “gives you wings” - Sponsorships - 40% of revenue is used

- “Full of Vitality” - TV spots with young people full

of energy

Distribution - Off- and on-trade - One production facility in Austria - Targets small distributors

- Only off-trade - Mostly Asian countries

Price - Premium price - Generally, around €2

- Rather cheap (¥115.56 per bottle)3

From the table, it is clear that there are various differences between Red Bull and Otsuka. Starting

with the target segment, after looking through the website of Otsuka’s products called Oronamin C

drink (Otsuka Pharmaceutical, n.d.), and some advertisements made by Otsuka to promote the

product (Japan TV Commercial, 2013), it is clear that the company is, like Red Bull, targeting the

younger segment. Also, while Red Bull also targets urban professionals and club-goers, it seems as

if Otsuka is targeting a more health conscious segment with its “Nutraceutical Business” (Otsuka

Pharmaceutical, n.d.), in which Oronamin C is included. This could e.g. be business people wanting

to enhance their energy naturally in the everyday life. Looking at the product, both companies sell

energy drinks. Like Red Bull, Otsuka only sells two variants of its Oronamin C energy drink; Oronamin

C Drink and Oronamin C Royalpolis. These two are visually different from Red Bull’s cans, as they

are in 120 ml bottles and have the Japanese “pharmaceutical” look. Otsuka also sells many other

kinds of products. Looking at promotion, Otsuka focuses more on TV advertisements with young

3 ¥115.56 is equivalent to around €0.9


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people (Otsuka Pharmaceutical, n.d.) Red Bull has both on- and off-trade distribution, whereas

Otsuka mainly focuses on off-trade distribution. The price of Otsuka’s Oronamin C is cheaper than

that of Red Bull (Rakuten, n.d.)

Looking at the development of a generic strategy, and based on the previous comparison, it seems

as if the generic strategy of Otsuka is Cost Leadership, as the company has a competitive advantage

in its low prices and low costs, and as the market for its products is broad. Red Bull also seems to

have this strategy, which can be a problem for them, as they likely wish to challenge Otsuka for

market shares. However, given that Red Bull does not resemble the ordinary type of energy drinks

in Japan as Otsuka, it is arguable that Red Bull’s competitive advantage actually becomes

differentiation in Japan. This means, that Red Bull develops a Differentiation Leadership strategy in

Japan.

3.4 Marketing Mix Plan in Japan

Product/branding: Product-wise, Red Bull has some options. It could choose to keep the product

standardized and continue with the well-known 250 ml cans, the logo of the two bulls, the same

colors etc. It could also choose to differentiate the looks of the product. First of all, it could make

bottles instead of the cans, as this is more suited for the Japanese market. This would, however,

mean a big change in the production process in Austria, as the factory only produces the 250 ml

cans. Another thing that Red Bull could change to fit the product better to the Japanese market, is

the size of the cans. Here, it has to pointed out that in the US Red Bull did not keep its market shares,

as the competitor, Monster, introduced a larger can on the market. In Japan it might be a good idea

to go the other way and make smaller cans. The logic can be explained looking at Otsuka’s Oronamin

C products. The bottles only contain 120 ml (Otsuka Pharmaceutical, n.d.) and thus, this gives an

indication of the needs of Japanese consumers. They do not want larger cans. They want smaller

ones. This is a tendency of the market that Red Bull should follow. It would still mean a change in

the production process, but not as big as if they were to make bottles. This way, Red Bull would

have a better possibility of keeping the brand as it is known in the rest of the world. This brand likely

means that Red Bull would target different segments than the more health-conscious segments of

Otsuka. Red Bull could target the club-goers and urban professionals of Japan, thus, focusing on the

on-trade market and sponsorships. More will be elaborated on this under promotion and

distribution.


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Price: Following the idea of selling smaller cans of Red Bull with the same brand strategy in Japan,

comes the price. Should it be standardized like in the many other markets or should it be adapted

to the Japanese market? If Red Bull were to keep the premium price in the Japanese market, it

would likely mean that they would not be able to take much of the price- and health-conscious

segment from Otsuka. They would have to target segments willing to pay more for the energy

drinks. This is likely to be found on the on-trade market of Japan, i.e. the clubs and bars. But as the

tendency turns towards a non-impulsive-oriented off-trade distribution, it might be difficult for Red

Bull to maintain a higher price on the off-trade market, where the young segment would likely

choose the well-known, cheaper product from Otsuka. Also, the price sensitivity of Japanese

consumers seems to change towards them being more sensitive to price (Salsberg, 2010). However,

Red Bull could attract the less health-conscious segments who would choose the more “powerful”

brand of Red Bull over the healthier one of Otsuka.

Promotion/brand: Red Bull gets a 69th place of the world’s most valuable brands in 2013 (Forbes,

2013) and this is likely due to the company’s intense promotion. 40% of the revenue goes to

promotion, which is mostly sponsorships and cartoon tv ads. Also, Red Bull invests much in their

Red Bull Minis driving around promoting the brand. This valuable brand is definitely something to

utilize and enhance in Japan through the promotion. As mentioned Red Bull could target the club-

goers and urban professionals by focusing on the sponsorships. But, like in other markets, it would

be preferable to differentiate the promotion, focusing on tv ads etc., to the specific market. Here,

Red Bull wants to find out when and on which channels to get the promotion. Japan is the fourth

biggest online population in the world with trends going towards being on the smartphone rather

than on the PC (Digital Strategy Consulting , 2013). Therefore, Red Bull should consider

differentiating its promotion in Japan to focus towards smartphones rather than TV. The promotion

will also need to be differentiated to fit the language and general norms and culture of Japan.

Distribution: Looking at distribution, it was previously mentioned that Red Bull could gain from

focusing on the on-trade distribution. This is particularly as the competitor, Otsuka, is very much

focusing on the off-trade distribution. That being said, there is growth in the off-trade market, which

is why Red Bull should use a mix of on- and off-trade distribution, like in other markets. Therefore,

a standardized distribution might be beneficial for Red Bull in Japan. However, if the company were

to differentiate the product to the Japanese market, as mentioned, then it might be beneficial to


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outsource production, as the company did with Red Bull Cola, to keep its advantages of economies

of scale in its own factory in Austria. Another possibility, distribution-wise, for Red Bull is to establish

a subsidiary in Japan. This would make it easier for the company to distribute its products in Japan

and to nearby Asian countries. This is due to the fact that Red Bull does not have a subsidiary in Asia.

Market positioning: The market positioning of Red Bull needs also to be addressed. If Red Bull

differentiates its price and products to the Japanese market as previously mentioned, then it could

mean that Red Bull will have a market position in which it sells a rather cheap product, which has

good quality. This position will likely make Red Bull gain important market shares from competitors,

such as Otsuka and Suntory, on the market. If, however, Red Bull obtains this mentioned

Differentiation Leadership in Japan, it would not need to lower its prices as much, as they would

have a competitive advantage in its differentiated product. Then, the price could be higher and more

aligned with its quality, making it a more premium product as in the rest of the markets. Another

way of looking at the positioning is the consumer culture positioning, in which Red Bull is positioned

as a symbol of global culture.

4. Healthy Product Variant in the US

As mentioned in the SWOT analysis, there is an increasing focus of healthy products in the world.

This trend is also in the US, where especially the health issue regarding energy drinks is in focus

(Brody, 2011). This could give Red Bull an incentive to try and figure out if there is a market for a

healthier product variant. To do this, they must gather information regarding consumer preferences

for healthier products. This can be done by gathering secondary and primary data. Secondary is data

already collected and is a good idea to find first. If this data is not sufficient for Red Bull’s situation,

it will be a good idea to gather primary data. Even though this is costlier, it can give the exact data

that Red Bull is searching for. The type of study can be qualitative and quantitative. Quantitative

studies are good for hard data, e.g. demographic tendencies. However, for Red Bull’s situation, it

will be better to go with a qualitative study, as they need to know something regarding the

consumers’ preferences. This is more detailed and subjective, which needs to be taken into account.

This could be carried out by making a study with a focus group to.


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5. Recommended Strategic Option

I will recommend Red Bull to go with its strategic option (a). This can be argued for in various way.

Firstly, in the markets, there is a grow in demand for energy drinks. This was also shown in the MACS

model and is a lucrative opportunity for Red Bull to explore. Secondly, by expanding further on one

of the given markets, Red Bull has an opportunity to gain more experience about the markets,

looking at different factors such as consumer behavior, competition, suppliers and political

structure. By investing more in the current activity in the countries, Red Bull will be able to learn

more. Thirdly, this knowledge and experience gained from the market can be used to gain market

shares and expand in other countries close by. E.g. if Red Bull expands in Japan, they could use the

knowledge from this market and apply it, although with minor changes, to e.g. China, which also is

a potentially good market to expand on, given the MACS analysis. Another strategic option that was

intriguing was option (b). During this paper, especially in the SWOT and in the discussion of the four

Ps in Japan, it has been seen as an impediment that Red Bull only produces in Austria, which is why

international production seems like a good idea. This is not the chosen option, however, as Red Bull

has a very standardized product. Thus, it is not deemed a necessity for the company. Also, it has the

possibility of outsourcing production or licensing it to a company closer by.

Conclusion

Following will be a conclusion to the paper. Red Bull is a manufacturer and distributor of energy

drinks. Red Bull has used a global marketing strategy and has followed aspects of the

internationalization models Uppsala and Born Global. The strengths of Red Bull include its

experience and well-known brand. Weaknesses include its unhealthy product and its limitation

regarding production facilities. Opportunities are present in the form of growing market for energy

drinks and threats include the competition, especially in North America. In the MACS analysis, Japan

scored highest points in both market attractiveness and competitive response. The main competitor

on the Japanese market is Otsuka. Red Bull will have to differentiate its product, price and

promotion, and can use a standardized distribution. This can give Red Bull a position in the market

as a premium product. If Red Bull were to analyze the consumer preferences for healthier products,

it would be best to find primary data and to conduct a qualitative type of study. Strategic option (a)

from the case is deemed to be the most desirable for Red Bull given the opportunities following its

implementation.


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Appendices Appendix 1: Table of Contents

Table of Contents

i. Introduction ............................................................................................................................................... 1

ii. Delimitations ............................................................................................................................................. 1

1. Characterization of Marketing Strategy and Internationalization Theory ................................................ 1

2. SWOT Analysis ........................................................................................................................................... 2

3. International Market Selection and Marketing Mix .................................................................................. 3

3.1 MACS Analysis ................................................................................................................................... 3

3.2 Identification of Target Segment in Japan ......................................................................................... 5

3.3 Identification of Main Competitor in Japan ...................................................................................... 6

3.4 Marketing Mix Plan in Japan ............................................................................................................. 7

4. Healthy Product Variant in the US ............................................................................................................. 9

5. Recommended Strategic Option ............................................................................................................. 10

Conclusion ....................................................................................................................................................... 10

Appendices ...................................................................................................................................................... 11

Bibliography ..................................................................................................................................................... 13


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Appendix 2: Market Attractiveness, nominal values

Appendix 3: Competitive Strengths, nominal values


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