Describe Red Bull’s sources of brand equity. Do these sources change depending on the market or country.
BRAND EQUITY Brand equity is a set of characteristics that are unique to a brand. In essence, brand equity is the perception that a good or service with a given brand name is different and better. (Clow & Baack, 2012 ) Brand equity is the added value endowed to products and services. ( Kotler & Keller, 2012 )
SOURCES OF BRAND EQUITY
UNITED KINGDOM “gives you wiiings” “never under estimate what Red Bull can do for you”
UNITED STATES 65% Market Share
Analyze Red Bull’s marketing program in terms of HOW it contributes to the brand’s equity. Discuss its strengths and weaknesses.
BUILDING BRAND EQUITY RECOGNIZED REGISTERED COMPETITION PERSUASIVE LESS SUGAR FUN LINGUISTIC
BRAND EQUITY TWO BULLS COLLIDE FUNCTIONAL GRAPHIC ENERGY SHAPE “GIVES YOU WIINGS”
RED BULL TV AD, SUPERHERO
“ sampling [is a] key element of Red Bull’s marketing strategy. The customer feedback that they get in invaluable and the conversion rates are huge. “ - Henry Drnec, Red Bul Managing Director United Kingdom
RED BULL FLUGTAG DAY 2012
RED BULL SIGNATURE SERIES
How can Red Bull maintain its marketing momentum? Would you recommend that Red Bull develops any brand extensions? If so, what would they be? Would you use the same marketing strategy?
Red Bull maintain their marketing momentum thru their Marketing Program
RED BULL STRATOS 2012 JUMP
RED BULL STRATOS 2012 JUMP Felix Baumgartner's epic jump from the edge of space was successful. Supported by a team of experts, Felix ascended in a helium balloon to an altitude of 120,000 ft / 36,576 m where he took a leap of faith into the unknown in an attempt to become the first person to break the speed of sound during freefall.
Brand Extensions Brand extensions could be considered, but marketing research needs to be conducted to assess the effect of such extensions on the image of the brand.
Before doing brand extension , refer customer Brand equity pyramid at performance dimension. Red Bull need to cope up: Primary ingredients and supplementary features Product reliability (consistency of performance), durability (life-span), and serviceability (after sales) Service effectiveness (speed), efficiency (responsiveness), and empathy (caring, trusting) Style and design Price
Currently there are only four product made: Red Bul Energy Drink, Red Bul Sugar Free, Red Bul Energy Shots, and Red Bul Cola. Each product is in line with the original tagline that makes Red Bul so successful- “Red Bul Gives You Wi ngs”. In 2005- Thailand launch Red Bul ice coffee.
Lower-priced extensions as well as extensions to new product categories are possible options. One of the pulling buying powers for Red Bull is lower price which offer by Red Bull compare to other company is same category.
Evaluate Red Bull’s move into herbal teas, fast-food chains, and magazines. Does it make sense for the company to expand into these areas? What are the potential benefits and dangers?
There is pro and contra to extend product development. What Red Bull need to do is to have proper research in extending product and associate it with other product or services.
“a Red Bull consumer first attracted to the product as a nightlife enhancer in his or her early twenties might later use the drink as a morning pick-me up or a revitalizer during a long day meetings.” How effective is Red Bull at a advertising to these varied groups ?
“ The reasons for consumptions change, but the basics are always there: the real benefit.” - Norbert Kraihamer, Red Bull’s Group Marketing and Sales Director