The paper "Brand Development of Red Bull" is a perfect example of a marketing case study. The brand has become a very important word in the marketing sector in the 21st century. There are a number of varying opinions in the market about what exactly branding is. Some believe it is the method through which companies are able to persuade people into doing what they want. Others still are of the belief that brand carries with it certain concepts and ideas which are associated uniquely with it. The brand is all of this.
A brand can be defined as the image that the product possesses in the market and among the people (Heig M, 2006). This includes the brand experience, brand equity and the brand image. It has been observed that the overall growth in the brand equity of the product and the company in the world economy have been high, and it has been able to establish itself as a leading producer for energy drinks. The policies that the company has adopted in various markets have been similar, although it has varied in cases such as that of the UK and even the USA to a certain extent.
As a conclusive result, it has been observed that the overall brand equity of the product has been different in different countries, where it has been very significantly successful in some such as Austria and Germany while having failed in others such as the market of UK (Gitman, Lawrence J.; Carl D. McDaniel, 2005), where it failed to establish itself due to lack of effective and strategic implementation of marketing policies. Also, the perceptions of the consumers alter with the changing trends in society and the culture of the area, thus the overall brand equity of Red Bull is seen to be different in different countries.
Branding today is simply not limited to the brand image of the product in the market but it also looks into various other methods to ensure the creation of awareness about the product as well as the company in the eyes of the consumers and maintain its image in the market. This can be done through various methods like the establishment of brand imaging, Brand personality, etc.
Red bull has tried to ensure that its brand image is seen as sporty and effectively marketed. Marketing is an important concept of the production process and there have been gradual shifts in the marketing strategies of companies. Marketing helps a company ensure that there is the exposure of its products in the market, so as to create awareness and demand of the product among the consumers. It has seen a number of changes with the changes in the economic structure and social developments over the years.
With the changing demands and needs of the market, there has been seen that most of the organizations in the world have changed their management and strategic policies to ensure that greater awareness can be created in the market. This has been seen to have reaped fruits for almost all the companies around the globe. But on the other hand, there has to be realised that there have been certain companies and organizations which have emerged as global leaders in their field and sphere of influence but have not changed their policies or strategic management a great deal but have employed a persistent policy of organization and functioning (Kai H.
L., Choon, L. S., Matthew, K. O. L., & Izak, B, 2006). Red Bull as a company is one which has adopted an aggressive marketing policy when starting in Austria, which it abandoned in the UK. It starts small, through creating a niche within the exclusive class in a society where it targets the bars and the clubs. Following this, once the company has been able to ensure that there is a certain amount of mystic and awareness present in the market it introduces the product to other centers allowing for a greater amount of sale.
Through the adoption of various advertisement schemes, it continues to ensure that there is a greater amount of awareness achieved, and a loyal customer base is prepared based on which the brand equity develops.
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