Survey Analysis for Red Bull Energy Drink
Purpose of Survey
Understanding consumer behavior was the primary purpose of the survey conducted on Red Bull energy drink. There is a lot of information that is necessary to synthesize about the behavior of the consumer which may be made necessary through a thorough understanding of the effect of various market issues which influence decision making of the consumer. Consumers have been seen to be affected by several aspects of daily living which will ultimately have an effect on the decision made by different consumers on certain products.
As such, the information contained in the survey conducted was to test for factors such as perception, attitude, motivation, group & individual differences, culture, and family & lifestyle and their effects in the process of decision making for the consumer when in the market. Red Bull energy drink manufacturing company sought to have a recent analysis on the case of its product purchases and how these market factors affect business in the company.
Survey Development Process
Following the identification of the testable decision making influencer, it was seen necessary to conduct a survey study in some of the effects the mentioned factors have on the consumer decision-making process. A set of ten questions which addressed most of the issues identified as the major decision influencers when making purchases was developed. The questions were limited to closed-ended questions so that the data obtained would be easy to manipulate to come up with comprehensive data analysis.
Using a survey tool offered in surveymonkey.com, an online survey sample question paper was developed which included the ten questions that had been previously incepted to address influencers of the consumer decision-making process. The survey template was then distributed through the use of a website link which would lead the respondents to easily answer the questions. A minimum of fifteen respondents was supposed to take part in the survey by answering the survey questions presented to them on the website as they deemed right.
Results were then electronically transmitted to and recorded in the website and the software produced a set of results analysis graphs as per the choices of the respondents who took part in the survey. Respondents were chosen from people who have in most recent times purchased the product, Red Bull.
- Data Analysis
Data obtained from the research shows that there were fifteen participants in the survey who actively answered all the questions without skipping any of them. Of the 15 respondents, there was 66.67% males and 33.33% of females who took part in the survey research. All these respondents reported that they had recently purchased Red Bull which makes them eligible for taking part in other survey research questions concerning the same product.
In addition, respondents to the research were aged from eighteen years to thirty-five years of age. Clustered into three groups, respondents aged 18-24 years seemed to have been active consumers of having taken a total of 71.43% of all the respondents, with those aged from 25-34 years having taken 21.43% of the total number of respondents.
Product preference seemed to be majorly concerned with the ingredients used to make the energy drink rather than the sugar content and the caffeine content of the product. Ingredients scored at 46.67% of the total survey respondents while the other two components tied at 26.67% of the total survey responses received.
The role of friends in advertising products seemed to have been evident in this survey since friends were the motivation of most respondents who completed the survey with an indexing score of 66.67% while advertisements and family took it at 26.67% and 6.67% respectively of the total respondents.
While some respondents thought it necessary to conduct market research, others did not find it necessary to do the same. In the survey research, 53.33% of respondents sought market research while the remaining 46.67 need not conduct market research about the product prior to making a purchase of the product.
A majority of the consumers believe that Red Bull energy drink is affiliated with a higher social class while others believe that it is not a product which may not be attributed to social class. 26.67% believe it is not affiliated to a higher social class while 33.37% believe that Red Bull is associated with social class and 40.00% believe that it may be attributed to social class at times.
100% respondents have shown satisfaction with the product with a whopping 100% reporting that in most cases Red Bull has achieved its function of energizing the consumer whenever they purchase it. However, the frequency of consumption of Red Bull remains alarming since all the response options remain at less than 50% of the expected consumption rate among the consumers.
- Findings and Comprehensive Analysis
Obtained in the survey research is data which may be used to quantify the six aspects considered to be determinants of consumer behavior when coming up with a substantial market analysis of the consumer decision-making process. The six testable decision determinants are perception, attitude, motivation, group & individual differences, culture, and family & lifestyle.
In a research conducted by Hawkins and Motherbaugh (2010), they have identified that coming up with a strategic marketing plan is always based on the behavior of the consumer and their response to some of the marketing strategies put in place to ensure that the product is made known to the public. In the survey conducted on Red Bull energy drink, it is evident that the advertisements put forward by the marketer have not been efficient in ensuring that the public is made aware of the product presence. Advertisements scored 26.67% as the motivation or the influencer of purchase decisions compared to Hawkins and Motherbaugh’s research which out to have placed advertisements at slightly past 50% major influencers to purchasing decisions (Hawkins and Motherbaugh, 2010). Therefore, it is important for marketing managers to come up with a more comprehensive marketing strategy that will be able to woe consumers in buying the product.
The influence of culture and reference group is openly discussed in Childers and Rao (2012) where they mention that the reference group plays a vital role in luring a consumer to making a decision based on what they like. In the survey conducted for Red Bull, the friends who are the reference group have played a vital role in ensuring the product sales are progressively increasing with friends being motivators for consumer purchase standing at 66.67%. In addition, friends take part in drinking Red Bull more thus influencing others to develop the same habit towards the product.
The effect of market research on consumer behavior is such that the consumer will be able to develop an attitude based on his emotions towards the product, explains Holbrook (2017). Holbrook has identified that when purchasing Red Bull, it is important for one to identify product information and conduct market research about the same product before moving a step into purchasing the product. It is observed in the survey that market research and product information affect the decision of whether or not one should purchase the product. It has been observed that some consumers have agreed to take part in market research while others have not while consumers make the decision to buy the product more based on the information they have obtained about the ingredients used to make Red Bull. Therefore, market research and product information are vital determinants of consumer behavior.
Finally, social class and culture have been tested in the survey. Levy (2017) has mentioned that consumers of Red Bull feel like they are in a higher social class considering that they have purchased a more expensive energy drink than the other brands. From the survey conducted, it is evident that a majority of the consumers feel like they have achieved a higher social class than the others compared to those who take other brands of energy drinks. This attribute affects the consumer decision-making process whereby the consumer is now able to decide on what he/she wants more compared to other people.
Conducting a more comprehensive consumer behavior survey would be essential for coming up with a more comprehensive analysis. Therefore, recommending a comprehensive survey which involves more participants and has a diverse range of questions will enable the company to better understand consumer decision making.
In conclusion, understanding consumer behavior would further require the use of research such as the survey research conducted for Red Bull energy drink rather than dwelling on estimated income from the product’s sales. Red Bull shall now be able to come up with a better marketing strategy and further improve the product on to perfectly suit consumers which will have an effect on consumer decision making the process.
Childers, T. L., & Rao, A. R. (2012). The influence of familial and peer-based reference groups on consumer decisions. Journal of consumer research, 19(2), 198-211.
Hawkins, D. I., & Mothersbaugh, D. L. (2010). Consumer behavior: Building a marketing strategy. Boston: McGraw-Hill Irwin.
Holbrook, M. B. (Ed.). (2017). Consumer value: a framework for analysis and research. Psychology Press.
Levy, S. J. (1999). Social class and consumer behavior (pp. 297-308). Thousand Oaks, CA Sage Publications.
Chart representation of responses received by respondents taking part in the survey research on Red Bull energy drink as constructed by surveymonkey.com
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