1. INTRODUCTION 3
2. THE CUSTOMER-BASED BRAND EQUITY 3
2.1. SALIENCE 3
2.2. PERFORMANCE 4
2.3. IMAGERY 4
2.4. JUDGMENTS 5
2.5. FEELINGS 5
2.6. RESONANCE 5
3. BRAND POSITIONING 6
3.1 MENTAL MAP 6
3.2. BRAND MANTRA 6
3.3. BRAND ELEMENTS 7
4. BRAND COMMUNICATION AND PATENTING 7
4.1. EVENT MARKETING AND SPONSORSHIP 7
4.2. PROMOTIONS AND PERSONAL SELLING 8
4.3. CELEBRITY ENDORSEMENT 8
4.4. ADVERTISING 9
5. SOURCES OF BRAND EQUITY 10
5.1. BRAND AWARENESS 10
5.2. BRAND IMAGE 10
5.3. BRAND VALUE 10
5.4. BRAND STATURE 11
6. BRAND ARCHITECTURE AND BRAND EXTENSIONS 11
6.1. BRAND POSITIONING 11
6.2. BRAND ARCHITECTURE 12
7. MANAGING THE BRAND OVERTIME 13
7.1. REINFORCING BRANDS 13
8. CONCLUSIONS 14
9. SOURCES 15
1.
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2.3. Imagery
Red Bull is not differentiated by gender, race or income, but does position itself as young, sporty and dynamic. It is also perceived as the market leader. The brand is not associated with a type of distribution channel, but does insist on usage situations – anytime, anywhere, for any situation (see advertisement A in Appendix 1).
We evaluated the brand personality using the five dimensions sophistication, competence, sincerity, excitement, and ruggedness on a scale of 1 to 5, 1 being the lowest score on that dimension. As we can see on the chart, sophistication and ruggedness have lower scores, while all other dimensions achieve high grades. Red Bull is especially perceived as exciting and competent through its sponsoring of events (see advertising B and C in Appendix 1). Red Bull does not emphasize associations to its history or the country in which it is produced.
We can affirm that Red Bull has strong, favorable and unique brand associations, such as the dynamic and fun association, the typical taste and energy provision feature, and the competence perception due to its market leader position.
2.4. Judgments
The overall evaluation of the quality of Red Bull is very positive. The brand is very familiar, customers believe it is of good quality and have a strong purchase intent. As Red Bull is still growing, will can safely state that customers are mostly satisfied and repurchase the product.
The brand is highly credible due to a strong perceived
In today's world, the name Red Bull and the slogan "Red Bull Gives You Wings has been inscribed into the minds of consumers around the globe. The popular energy drink, which seems to have sky-rocketed in US as well as world-wide sales is no miracle drug, although it does seem that way by the overflowing demand. Known to many as a coffee substitute, Red Bull is able to give its buyers that extra push or burst of energy to keep their day going due to its increased amounts of caffeine, without the nasty aftertaste of coffee. No doubt its marketing strategies have made a massive impact on its increased sales, but at its start, it is no lie to call Red Bull a self-made success. In a time where everyone is
market. With Red Bull’s various ad campaigns, the corporation uses a collaboration of extreme sports videos to market the incredible effects of their product. These differ from previous commercials, that use to be cartoony and display young adults, becoming cool and getting the hot girl, after consuming a delicious and nonaddictive energy drink. The transformation of red bull’s ads has shown that they are changing with pop culture by having what is considered most exciting to their core audience. These commercials show the true purpose of Red Bull corporation, selling children on the idea of consuming large quantities of caffeine, Taurine, B group vitamins, sugar, Alpine spring water in the Red Bull energy drink; are healthy and even make you into a fun and interesting
The company exemplifies the typical branding success story. Since its inception, Red Bull’s successful market strategy and ways of penetrating the lucrative energy drink market has demonstrated the company’s ability to think outside the competitive box through its innovative branding and sales and distribution strategy. Since the targeted’ age range is quite young, Red Bull employed unique methods to attract its customers. Amongst these non-conventional advertising routes, Red Bull used marketing « below the line », « buzz marketing », and « tribal marketing » (Brocooli, April 2012).
This document is part of the requirements of the Foundations of marketing course, the University of Newcastle. It is the first part of the marketing plan for Red Bull, the leader of energy drinks market.
Red Bull energy drink competes in the Non-alcoholic drink market which could be the overall Food and Beverage market. ‘Red Bulls target market is young, on the go, who enjoy extreme sports and live an active nightlife, anywhere from 18-35’(Swartz,Jon).
If one has to analyze the profitability scheme of Red Bull Energy Drink, perhaps it can be safely said that it is in a very uncompromising situation. First and foremost, the stiff competition have paved the way for the emergence of many small time players (Helm 2005). With every bottled drink that aims to steal the limelight nowadays, Red Bull should capitalize more on its creativity and ingenuity—this is of course, in relation to advertising and marketing. The company should never disregard that Coca Cola and Pepsi are still top competitors (Helm 2005). More so, even if the two share equally different components as with Red Bull, still, it is evident that the two continue to partake into the market share. Meanwhile, the notion that energy drinks offers no variety in taste is an important marketing aspect that the company should take into full consideration (Laing 2005). In 2001, Pepsi had already released AMP Energy Drink (“Amp Energy Drink” n.d). It is the company’s maidens venture into the energy drink arena. Evidently, AMP’s raison d’ etre is to capitalize on Mountain Dew’s established image. The concept would be to introduce something new, yet very familiar (“Amp Energy Drink” n.d).
Market share and strategy - RedBull had dominated the market of energy drinks all over the world. Its main mission is to provide an energy drink made with natural ingredients which provide energy to man, women or children in their day to day life. It provides instant energy which helps college students or working people to maintain their energy and keep doing their work with full enthusiastic way.The Red Bull brand had created a great impact on the mind of its customers by its product results and pricing strategies which make it a larger energy drink on the market.("The Top 15 Energy Drink Brands.")
Red Bull as a product has many strengths, which increase buyer demand. Buyers feel the physical need to buy Red Bull such as when they are feeling sleepy behind the wheel of a car. Socially people feel the need buy Red Bull because of the many extreme sports red bull associates itself with.
Red Bull has built an image as a trendy energy drink, catering to young adults and young professionals between the age groups of (16-29) years. It also targets young club-goers and private parties in order to spread its picture as a stylish drink. It also believes that it is not just selling a beverage, but instead it is selling a ‘way of life’. Red Bull also uses a catchy slogan as ‘Red Bull gives you wings’. These non –traditional marketing strategies of Red Bull are not unique to any market.
Red Bull have used crazy sounding and subversive names to build excitement around events before you’ve even heard of them to and to indelibly stamp them as “Red Bull”.
Initially the Red Bull’s slogan was “Red Bull gives you wings”. Later on as the taste changed with the change of its ingredients. Earlier it was an energy drink and later it was functional energy drink. Mateschitz devised the brand positioning that Red Bull “Revitalizes Body and Mind” This phrase conveyed the tangible benefit of the product in an easy grasping manner. It meant that Red Bull can be drunk any time whether it was morning, noon, or night. Thus Red Bulls consumption was not limited to any occasion or activities.
The original formula for Red Bull was developed in 1964; however, the Red Bull company was not founded until 1984 after a merger between Dietrich Mateschitz, marketing guru, and Chaleo Yoovidhya, the owner of the Red Bull formula. Categorized as an energy drink, Red Bull was initially designed to “treat jet lag and boost energy for truck drivers” (Hollensen, 2012). In today's era, Red Bull is commonly used as an energy drink; like coffee, and as a mixer in alcoholic drinks, like Red Bull Wings and the Jägerbomb. This aligns with the company's focus on the younger generations of partygoers and post-secondary students.
Red Bull has been able to create and sustain a competitive advantage in the sports drink industry by setting a goal and expanding from it. Red Bull was launched in hopes of capitalizing on extreme sports such as snowboarding and
3. Describe the brand personality of Red Bull. Why do you think the concept of brand personality is so important to Red Bull?
Red Bull has a large market share in the energy drink market and it is one of the most popular energy drinks in the world, this may help us to increase the demand for the product and maybe develop a new product within the same brand.