Red Bulls Competitors - 1151 Words

Competitors In the Hong Kong energy drink industry, Red Bull has several main direct competitors, Paolyta, Libogen and Shark. These products have similar main ingredients, taurine, glucuronolactone and caffeine with Red Bull. Therefore, these competitors provide the same benefit, which is to enhance energy, performance, concentration and speed of response by similar products. In addition, Shark keeps trying to attack Red Bull, by comparing the taste, benefits and usefulness through their advertisements and public relational events. Although Shark is still not very popular in Hong Kong, it should be a great potential threat for Red Bull in the future energy drink market. Besides the direct competitors, Lucozade, Essence of Chicken and†¦show more content†¦In Hong Kong, it does not compete very well, so it is a weak competitor of Red Bull. Product The prescription and ingredients of Paolyta are also similar to Red Bull. Price The price of each bottle of Paolyta is about $10 and there is no significant change in recent years. Place Its distribution network is relatively poorer than Red Bull as it is only sold in convenient stores. Promotion It has placed a set of television advertisements in Hong Kong several years ago. However, there is no more advertisement is shown in Hong Kong afterward. 2.1.2. Indirect Competitors Lucozade Lucozade was developed in 1927 by an English pharmacist. It has a similar function of Red Bull that is recharging people’s mind. However, the formula of this product is totally different from Red Bull. It is mainly made of glucose syrup which is proved that it does not have any negative effect to people’s health but this product cannot help people to enhance physical performance. The Lucozade company recently has put a lot of resources to boost its sales include placing advertisements on television and introducing new versions of its products like Lucozade Extra. It uses also animation to tell people about the strength and major function of it which is to improve brain performance. Compare with other competitors, it introduced many flavors and the flavors are more likely to be accepted byShow MoreRelatedRed Bull735 Words   |  3 PagesCase: Red Bull Red Bull’s success is a result of a great marketing strategy including product placement and creating brand loyalty. Success is also a result of avoiding marketing myopia. Red Bull accomplished this by claiming to satisfy more than just your thirst. Dietrich Mateschitz took the energy drink concept of Krating Daeng in Thailand and broadened it usage by also marketing Red Bull as a sports drink, functional drink, and nutritious drink. Their success was also stemmed fromRead MoreRed Bull Marketing Problem773 Words   |  4 PagesThe central problem I believe Red Bull is facing is the fact that it reached its maturity phase while many competitors have arisen, taking up some of its market share. 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