Year 12 IB Extended Essays 2018

Red Bull’s social media marketing mix: the 7 P’s

Marketing strategies, although having a large variety of approaches, ideas, and motives, all

aim to improve a company’s financial position as well as growth in market share. There are a

variety of marketing strategies used in the world of business today as a result of different

products and services being sold, different long term visions, and different types and size of

the target market. Some of these variations include utilizing a market-oriented versus a

product-oriented approach, as well as adopting a mass marketing approach versus targeting

specific audiences. ! A key part of any marketing strategy is the development of a company’s marketing mix,

which can be described as the key elements of the strategy associated with ensuring

marketing success. These key elements, which from here forward will be referred to as ‘the

seven P’s,’ are: product, place, price, promotion, people, physical evidence, and processes.

Generally, in order to be successful within these elements, they must consistently

complement each other, have clear focuses, consider the degree of competition, and target

audiences appropriately (Oxford University Press, 2014, p.265). Selecting and implementing

an appropriate marketing strategy within a company can have a profound effect on sales

made by that firm, as such, Red Bull’s choice of marketing strategy was to pursue a mass

marketing social media campaign. ! Originally, during their initial years of establishment, Red Bull had a different marketing

approach compared to what is currently in use. Red Bull relied on market segmentation,

wherein a market is divided into smaller groups of consumers in order to meet specific wants

and needs. Red Bull had a much smaller target focus that was based around demographic and

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