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Evaluation: Red Bull - Case Study Example

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Case Study Evaluation: Red Bull BY YOU YOUR SCHOOL INFO HERE DATE HERE Case Study Evaluation: Red Bull Red Bull’s Sources of Brand Equity Red Bull has multiple sources of brand equity that come from having a well-known and recognized brand with considerable recognition and recall (Holehonnur, Hopkins, & Fine, 2009)…
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Case Study Evaluation: Red Bull
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Download file to see previous pages The presence of this energy drink in desired consumer markets has made Red Bull stand out over other energy drink marketers by appealing to their emotional and/or psychographic lifestyle tendencies. For example, the adult cartoon concept maintains sophisticated content with a very clear message that is reinforced by the integrated messages delivered. By not selecting a specific target segment, the business is able to promote itself to many different audiences that have a need for energy drinks. This gives the brand more word-of-mouth capabilities and therefore improves brand equity since it is well-known by so many different demographics domestically and across the world. For the most likely target groups to use Red Bull as a lifestyle choice in energy drinks, the company built even higher brand equity through events marketing principles that included opinion leaders that have the ability to influence consumer behaviour (Keller). Event marketing links lifestyle with attitude and uses appropriate logo presentation so that recall of the brand is possible in these events where Red Bull has decided to advertise. The positioning strategy selected by Red Bull also improves brand equity as it gives consumers the correct impression about what to expect as tangible benefits of this energy drink option. The slogan “revitalizes body and mind” sends a very distinct and clear message that Red Bull is intended for energy purposes and has some form of lasting benefit for the buyer related to their needs for thirst or energy production based on lifestyle activities. Equity is built by not confusing the customer segments with complicated messages and stays focused on its position as a market leader among competition. The brand’s distinctive packaging and features also contribute to equity, as well as content and caloric content for those who are concerned about excess calorie consumption. For example, a typical can of Red Bull only has 12 calories (drinksmixer.com, 2010). This is desirable for markets that have social and athletic trends where the volume of excess calories consumed is an emotional need, therefore the psychology of the brand builds more equity from satisfied diet-conscious drinkers. Packaging includes a smaller 3 oz can (Hein, 2001) so that there is not a considerable commitment. It is convenience packaging for customers that do not require large-volume drinks to sustain their thirst needs and thus establishes itself as an energy drink that can be consumed in one, immediate setting. As far as convenience is concerned, equity is built by satisfied users that are concerned about volume quantities. The equity built does not change from country to country since Red Bull sends consistent messages about the quality and use of the product, though the advertising style changes slightly from region to region. The executive leadership at Red Bull believes that using the cartoon advertising format sends a consistent message despite the need for translation of the content (Keller). Basically, Red Bull marketers believe that thirst and energy needs are rather uniform from one consumer to the next all across the globe and can therefore use the same messaging format to deliver perceptions of quality and value. Other than areas where the brand is promoted, such as sports ...Download file to see next pagesRead More
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