Brand Development and Marketing (A New Product for Red Bull GmbH)

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Brand Development and Marketing (A New Product for Red Bull GmbH)

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Write a paper Brand Development and Marketing (A New Product for Red Bull GmbH)

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Organizations should drive their marketing energy through proper understanding of the targeted market (Goyat, 2011). Choosing market segments requires an organization to find substantial target values within it through identification of the market’s values, wants, demands, and needs. Effective targeting strategy is considered the one that enables a firm to make substantial adjustments on its marketing mix in order to ensure that needs for the specific market segments are fully catered for. According to Ciribeli and Miquelito (2015), there are four segmentation variables that need to be assessed properly in order to enable organizations apply more specific approaches on the targeted market, including geographic, demographic, psychographic, and behavioral segmentation. Targeting of the market for the new Nutri-Vita Red product will involve retained focus on geographic, psychographic, and demographic variables.

Word Count: 3900