Energy Drinks segmentation Demographic Segmentation: The definition of the demographic segmentation is to divide the market into groups on the basis of criteria like age, gender, income, occupation (…). These demographic variables are often correlated with the consumers’ needs and wants. The demographic segmentation variables are easily measurable. Following is the demographic segmentation of Red Bull: - Age: 18 to 30 years old –the major part of the customer base - Gender:Originally, they mainly targeted males. Today, the gender is no longer an important part of the segmentation. - Income:Red bull associated a certain luxury with their brand name and hence caters to a segment that is ‘well off’ in terms of income. - Occupation:Students, working professionals, sports enthusiasts, athletes. Psychographic Segmentation: The psychographic segmentation is the use of psychology to better understand the consumers’ needs and wants. With the changing marketing, companies continuously have to cope up with the new trends and come up with new trends and offers to attract more customers. Red Bull’s psychographic segmentation is as following: Geographic Segmentation: The geographic segmentation is the division of the market into segments depending on the area where people live. In geographic segmentation the criteria are geographical units such as states, regions, cities. Markets are mainly divided into the rural and urban areas. Red Bull’s Geographically segments markets in the following ways: Although Red Bull & Burn have more or less the same segmenting criteria because they sell basically the same products, there are some differences. Red Bull is more expensive than Burn. Also, Burn and Red Bull have different visions about the energy drink. Burn is more focused on the music industry while Red Bull is more concentrated on the extreme sports ad events. That is why the two companies’ brand mantras vary. Red Bull’s mantra is “extreme marketing for an extreme lifestyle” while Burn’s Mantra would be “Party hard and long”. Abdellatif Lazrak Sources: http://smallbusiness.chron.com/positioning-analysis-identifying-target-market-opportunities-15551.html http://www.marketingmagazine.co.uk/article/72100/analysis-co*ke-break-clubland---co*ke-entered-energy-drinks-market-burn-will-targeting-new-audience-reap-rewards-cordelia-brabbs-reports http://eurokulture.missouri.edu/caffeine-culture-austrias-red-bull-creates-its-own-extreme-world/
See Also
What is positioning strategy: how does it workHow to Identify a Brand Character for Your CompanyStarbucks | BrandStruck: Brand Strategy / Positioning Case StudiesWhat Is Brand Personality? How It Works and Examples