Report on Red Bull brand Essay

The energy drink market started to grow in the past 25 years. Red Bull was the first energy drink that started this kind of business. Throughout the unique branding strategy and extraordinary investment on marketing this brand maintained the best selling energy drink worldwide. This report will discuss on the Red Bull’s brand expression and how successful is the user perception of the brand image. History The Austrian businessman Dietrich Mateschitz created Red Bull’s energy drink formula in Thailand in mid 1980’s and the first can sold in Austria in 1987. He also developed a distinctive marketing strategy that established a new category of products. When Mateschitz questioned about the absence of energy drinks market he replied, â€Å"We’re going to invent one†. In 1992 the product reached other markets like Hungary and Slovenia, and then the United States in 1997 and the Middle East in 2000 . Today Red Bull is available in more than 160 countries and more than 35 billion cans been sold so far. Market Share Due to high demand and popularity, the market for energy drinks is constantly growing. People can now find several brands of energy drinks that offer several flavors, options and themes. With all this growth, Red bull still manages to dominate and lead the market over its main competitor such as Monster. With that, it was stated that this makes it the most popular every drink in the world. This can be reflected through the increase of Red Bull’s sales every year, selling 4.6 billion cans in 2011 and 5 billion in 2012. Customer Segmentation With Red Bull’s famous international tagline â€Å"Red Bull gives you wings†, and as an energy that is promoted to ‘increase performance’, it’s websites states that the best times to consume Red Bull is on the road, during lectures, study sessions, at work, while doing sports, playing video games, or going out day and night. This reflects that Red Bull is having a target audience of youth between 18 to 35 years old. In addition, Red Bull had a â€Å"Red Bull Brand Ambassador† Program targeting university students who work on representing Red Bull and bring the energy drink to events or parties, to attract more customers. In addition, Red Bull states that their cans are 100% recyclable, which proves being environmentally friendly and attract people concerned with the environment. Because of this unique branding strategy Red Bull was able to create loyal customers who only go for Red Bull when ever energy is needed, or not! Brand Expressions and Image The Red Bull Company tries to associate their brand with energetic and extreme events although as life style product. The current identity shows a direct connection between the product and it’s target audience, Athletes, students, hard workers, and who needs to â€Å"Vitalities body and mind†. The visual identifier is consist of two bulls butting each other which embodies strength, challenge and energy while the tagline â€Å"Energy Drink† describe the product in a quick catchy way. . Red Bull advertisings are not only pushing into being part of the cool extreme crowd and the risk-taking attitude but also showing that Red Bull is suitable with all aspects of user’s life (work, study and play). Methodology The objective of this research is to investigate publics’ attitude and perception towards the Red Bull brand. A 10 questions survey was designed based on an introductory research. The survey was distributed online and been giving to students and tutors in the Polytechnic campus. A total of 49 responses were gathered. Analysis Graph1: Demographics of respondents Graph2: Product usage It has been noticed that the majority of the respondents are not considered consumers, but since we are investigating the brand reception and not the product itself. Graph3: Aspects and associations This section is narrowed down for the respondents who consume the product and who are not, and examines their motives behind their behavior and attitude towards the brand indirectly. The results shows significant contrast between sports and studying as being what motivate the consumers, hence the brand image here support the brand expression of being part of the life style and not for sport events only. Graph4: User Perception Results indicate that most of the respondents are disagree when Red Bull is associated with sports. While above average satisfaction with the idea of it is being trending. Findings Red Bull’s current expression is focused on making the product appropriate as a life style drink and not connected to one aspect (i.e. sports). The survey that was conducted previously reflects the lack of gap between the current brand expression and the consumer perceive. The respondents are aware of the brand value that the company is trying to portray. This awareness is reflected on the public attitude which both the brand expression and image are settled on the impression of Red Bull as for the cool, fun, risk-taking crowd, not just a drink for athletics enthusiasts. Conclusions This report and survey results showed that Red Bull made successful brand equity that maintained it self on the first rank with customer satisfaction and market share. It also succeeded on delivering the right message and values to the right target audience. Red Bull keeps proving that an effective marketing plan and good brand equity could be a successful impactful business. RefErences Aaker, D. (2012, December 21). How Red Bull Creates Brand Buzz. Retrieved April 16, 2013, from Harvard Business Review: http://blogs.hbr.org/cs/2012/12/how_red_bull_creates_brand_buzz.html Bhasin, K. (2012, Febuary 15). How Dietrich Mateschitz Ignored The Haters And Created The Top Energy Drink. Retrieved April 16, 2013, from Business Insider: http://www.businessinsider.com/how-dietrich-mateschitz-ignored-the-haters-and-created-the-top-energy-drink-on-the-planet-2012-2 Boome, A. (2011, May 31). How food superbrands manage to become your family. Retrieved March 25, 2013, from BBC News: http://www.bbc.co.uk/news/business-13598581 Miller, J. (2011). Red Bull’s Brand Equity. West Virginia University. West Virginia: News America Marketing. Red Bull GmbH Company Profile. (2013). Retrieved April 16, 2013, from Yahoo! Finance: http://biz.yahoo.com/ic/101/101316.html Red Bull GmbH. (2013). Red Bull the company. Retrieved April 3, 2013, from Red Bull: http://energydrink.redbull.com/company Red Bull History. (2004). Retrieved April 17, 2013, from Funding Universe: http://www.fundinguniverse.com/company-histories/red-bull-gmbh-history/ Appendix A: Survey sheet Red Bull Brand Questionnaire 1- Age ââ€" ¯ Less Than 15ââ€" ¯ 16-20ââ€" ¯ 21-25 ââ€" ¯ 26-30ââ€" ¯ Above 31 2- Gender ââ€" ¯ Maleââ€" ¯ Female 3- Which energy drink do you drink the most? (Select one) ââ€" ¯ Red Bull ââ€" ¯ Power Horse ââ€" ¯ Boom Boom ââ€" ¯ I don’t drink any ââ€" ¯ Monster ââ€" ¯ Burn ââ€" ¯ Other _______________ 4- How often do you drink Red Bull? (Select one) ââ€" ¯ Everydayââ€" ¯ Frequently (Once or twice a week) ââ€" ¯ Occasionally (Once a month)ââ€" ¯ Rarely (Once every four months) ââ€" ¯ Never 5- If applicable, Why do you drink Red Bull? (You can select more than one) ☠ Taste☠ Studying☠ Work☠ Physical activities (sports) ☠ Lifestyle ☠ Mixing drinks☠ Driving☠ Brand design and image ☠ Marketing strategies, events, and sponsorships 6- If applicable, Why you do not drink Red Bull? (You can select more than one) ☠ Taste☠ Pricy☠ Unhealthy☠ I don’t believe in it ☠ Bad Reputation 7- On a scale of 1 to 10 Rate the following. Do you think that Red Bull is associated with extreme sports? Not at all