The effective marketing of Monster Energy beverages depends on appropriate segmentation, targeting, and positioning strategies. In spite of applying all approaches to the market segmentation in order to promote the product, including demographic, geographic, behavioral, and psychographic segmentation, Monster Energy accentuates the use of demographic and behavioral analysis (Masek et al. 15). Thus, much attention is paid to such factors as age and gender of potential consumers according to the demographic segmentation principles, as well as to their lifestyles and certain habits according to the behavioral segmentation.
Thus, segmentation approaches determine the targeting strategies used by Monster Energy. As a result, the single-segment approach is followed. The target market for Monster Energy products consists of 18-34-year-old males who are interested in an active lifestyle, sports, gaming, motorbikes, and automobiles (Giese; Masek et al. 15). Thus, the targeting strategy of Monster Energy is associated with the male-centered marketing which orients to professional and amateur athletes, musicians, and bikers among others.
The positioning strategy is usually based on emphasizing certain qualities of a product in order to attract the target audience. Monster Energy has applied attribute positioning and product benefit positioning as its strategies (Masek et al. 15). Thus, the company positions itself as a manufacturer of products with exceptional tastes and appropriate caffeine levels. The company also accentuates unique experiences associated with consuming Monster Energy beverages (Giese). Therefore, in the marketing strategy of Monster Energy, the focus in on the increased energy levels and improved abilities of sportsmen, as well as on higher levels of consumers’ satisfaction.
Segmentation, Targeting, and Positioning Strategies Applied to Red Bull
Segmentation, targeting, and positioning strategies used by Red Bull are closely connected with each other. The segmentation strategy is based on the demographic, psychographic, and behavioral analysis. Following the demographic segmentation, the product is oriented to persons of a certain age and gender (Ayyar). Furthermore, the segmentation is also based on income. The psychographic segmentation is associated with analyzing consumers in terms of their preparedness to pay for Red Bull and its unique qualities (Dudovskiy). The behavioral segmentation is also used by Red Bull in order to differentiate those consumers who prefer sports, an active lifestyle, and who search for sources of energy for them.
As a result, Red Bull seems to apply a specific single-segment targeting strategy, and it is important to note that the company orients to college students and young adults aged 15-35 years. These potential consumers are predominantly males who study at college or who are young and active professionals. This target audience belongs to middle, upper-middle, and upper classes because of a competitive price for Red Bull products (Ayyar; Dudovskiy). These persons are targeted as regular buyers because of their lifestyles, interests, and habits, they are interested in extreme sports and music festivals, and they are usually busy because of their active social and professional life.
Red Bull’s positioning is based on product attributes and benefits. Thus, to promote the product, the amount of caffeine in Red Bull beverages and its effects on individuals’ activities are discussed only from the perspective of their positive impacts and associated benefits. The focus is on how Red Bull drinks can help young adults remain active during a long period of time (Ayyar; Dudovskiy). Furthermore, low levels of sugar are accentuated with the help of labels because of positive effects on health.
Works Cited
Ayyar, Rohan. “Red Bull on Content Marketing.”Target Marketing. 2015, Web.
Dudovskiy, John. “Red Bull Segmentation, Targeting and Positioning.”Research Methodology, 2016, Web.
Giese, Rachel. “How Energy-Drink Companies Prey on Male Insecurities.”The New Yorker. 2015, Web.
Masek, Jacob, et al. Monster Energy Company. 2016, Web.