Since 1987, Redbull has been in the market with a verity of product in which the company has found success. One of their prime products that put the company on the map is its energy drink. Through vigorous advertisements and endorsements, the product has grown to be popular. The new product is focused on the same concept of Redbull energy drink. However, the new product will not come in liquid form. The new product will come in small sachets, in powder form. There are a couple of reasons of why the product is being selected as the best product for the market. First, the product has already achieved market dominance so marketing it will not be so hard (Dick, 2004, pp.103). Secondly, customers tend to avoid buying the canned type because of the harsh economy that the world is in right now. The new product is aimed at achieving total sales while putting in mind that the world is facing an economical down turn.
The new product will be aimed at a wider customer circle unlike the old product, which is aimed at a clientele due to its prices. The new product will be packed in small and commodious sachets. The small sachets will be as small as one glass while diluted while the bigger sachets will be as large as ten glasses while diluted (Dawes, 2009, p.45). The taste will remain the same in order to save the existing market. The new product will be aimed gaining new market, which will enable the company to enlarge. The product will first be produced and sold in Australia depending on how well it picks up. It will then be distributed through Europe then the rest of the world. The advertisements will be vigorous in that allot will be done to promote the product (Jacoby, 2008, pp.102).
Reference List
Dick, A. (2004). Customer Loyalty: Toward an Integrated Conceptual Framework. Journal of the Academy of Marketing Science, 22 (2), 99-113
Dawes, J. (2009). The Effect of Service Price Increases on Customer Retention: The Moderating Role of Customer Tenure and Relationship Breadth. Journal of Service Research, vol. 11
Jacoby, J. (2008). Brand Loyalty: Measurement Management. New York. John Wiley & Sons, pp 56-178
