University of Newcastle Essays

University of Newcastle Essays University of Newcastle Essay University of Newcastle Essay 1)What segmentation base has Red Bull adopted to target consumers? How should Red Bull further segment the market in the future? When marketers begin instigate their strategy they will begin by selecting a marketing base at which they will aim their strategy. The Bases can be broken into four segments on the basis of two criteria: 1- Facts, which can be determined by a single objective or cognitions that are more abstract 2-Consumer rooted features relating to consumers physical, social and psychological needs versus consumption specific behaviour or preferences towards a product. Based on this criteria the four segments business use include: -Demographic, based on general features of human life -Geographic, based on the region the consumers live in -Behavioural, based on the consumers preferences towards products -Psychographic, based on the personality traits of consumers While many companies choose to aim their marketing strategy at a single consumer base, many successful companies choose to engage many segmentation bases with one marketing strategy. This process is called hybrid segmentation. This can be seen with Red Bulls â€Å"guerrilla marketing† strategy that established them as a successful company. It is clear that the marketing strategy segmented the market demographics and psychographic segments. For example the unique strategy that was developed to demographically target students/young adults and aimed to psychographically appeal due to their active and outgoing lifestyles. In order to continue their success in the market, Red Bulls targeted consumer base can be further segmented to increase profitability. ) How Does Red Bull arouse the motivations of consumers to purchase energy drinks? Motivation can be seen as the driving force that impels the consumer to act in fulfilling their needs, hopefully through the consumer purchasing their products. Red Bull achieves this through providing positive motivation for the consumer. 3) Describe the Brand Personality of Red Bull. Why do you think the concept of brand personality is so important to Red Bull?