The paper "Brand Development and Marketing: Case of Red Bull" is a perfect example of a case study on marketing. According to Keller (2003, p 54), brand equity refers to the strong and favorable as well as unique brand combinations that are created in the memory of the customers by the product supplier based on different ways of presenting the product or service to the market. Brand equity is especially preferred since it can be used to add value to the product when it is recognized and can have positive associations in the mind of the customer. 2.0 Red Bull’ s sources of brand equity Red Bull as based on the company case study has two main sources of brand equity which are brand awareness and brand image and both of which are major marketing issues.
The company has very elaborate tactics which it has continued over the years in order to try and make these sources successful. 2.1 Brand awareness According to Keller, there are two major elements of brand awareness and they include recognition and recall. Keller further notices that if a purchase decision has to be made at a particular point of purchase, then the brand name and the logo as well as packaging and all other elements of brand recognition, are very important factors.
On the other hand, if the purchase decision is made before one arrives at a point of sale, then it implies that recall is particularly important. According to (Aaker & Joachimsthaler 2000), low-involvement purchase normally is done when the products being purchased are relatively cheap and are frequently bought and at the same time are of low risk.
In such circumstances, using traditional advertising and numerous frequency drills would prove to be very productive for the company in the marketplace and amid very stiff competition. This is what exactly is done by Red Bull. In the company, it is provided that using a very distinct and very unique and slim can has been very instrumental in creating brand awareness. The purpose of using this can is to create a very distinct and eye-attracting logo which is presented in two bulls alongside a yellow sun. Further, the wording package communicates it all about the benefits that the product accrues and above all being an energy drink.
The packaging style of a product is a very important aspect of branding and more especially in low-involving products as is the case of Red Bull. Further, for brand awareness, Red Bull has got very high brand recognition. Most customers can identify it very easily while in the store. Brand recall, in this case, will mean that when the customers will be thinking about the energy drinks, they will easily think about Red Bull most probably.
Brand recognition is especially important when the supplier wants to win those consumers that are likely to make purchase decisions at a point of sale (Lynch & de Chernatony 2004), . It is with this regard that branding, the logo, and packaging have been very instrumental for Red Bull in differentiating them from the rest in terms of size, color, and its logo and its slogan that “ Red Bull gives you wiiings. ”