Introduction
Hello All,
As marketers your managers have just handed you a new brief. It is for a new energy drink set to hit the shelves and they want YOU to head their marketing team.
Starting today you have a new task - finding out which energy drinks are more appealing and why. To make it easier start off with two of the biggest brands in the market Red Bull and V.
Task
The Brief
Marketers our goal is to find out how can we make X Energy the number one product for energy drinks in Australia.
To do this you will need to follow a protocol to investigate our competitors (Red Bull and V). We will discover what makes these brands so popular and how we can take over their market share.
Process
The following questions will help to find the best direction for X Energy. Complete them
1. How Big is Red Bull and V?
A good starting point for any research task is Wikipedia. Use Wikipedia to get a background on their advertising approach to the market. Key statistics would include market share, advertising budget, events, sponsorships and celebrity endorsements.
2. How has Red Bull and V's advertising changed over the years? Compare their early advertisements and use ABS to find advertising statisitics.
To help here is a website showing a few early Red Bull advertisements
http://redbull-brand.blogspot.com.au/p/red-bull-commercials.html
Compare this to V
http://www.bestadsontv.com/client/8893/V-Energy-Drink
3. What did you think of those early advertisements? Now record your own soundbite for X Energy using http://www.recordmp3.org/. Aim for a 30 second advertisement likely used for radio. Save the file in the right folder labelled with your name.
4. How did management cope with the GFC? Was there more or less expenditure? (Hint check the previous years advertising budget and compare it the next few years) What strategies did management use to overcome this issue?
5. How do Red Bull and V create and distribute their products? What regions do they ship to?
6. What is the business structure for Red Bull and V? Is the business styled for communication or a clear chain of command?
7. a. What do you think has been Red Bull's best advertising campaign and explain why?
b. What do you think has been V's best advertising campaign and explain why?
8. Write a blog entry about an event or sporting match sponsored by either Red Bull or V.
9. Where has Red Bull and V shown the least innovation? Can X Energy take advantage of this and how?
10. What are some of the biggest obstacles in entering the energy drinks market. Demonstrate using a pie graph with statistics taken from ABS.
11. Consider the best option for the launch of X Energy and justify your choice.
Evaluation
| Assessment | Marks | Your Marks |
| All questions attempted | 10 | |
| Answers are indepth with reputable sources | 30 | |
| Referencing was correct | 10 | |
| Finished on-time and document is correctly labelled | 10 |
Conclusion
Congratulations your research and vision has been warmly recieved by the client and they are considering your proposal. Your manager is happy with your performance and you have been fast-tracked to the next exciting challenge.