The paper "Building Brand Equity for Red Bull" is a great example of a term paper on marketing. Brand marketing for Red bull has undergone a broad evolution to build brand equity as an acceptable energy drink product. This aggressive growth was due to the company’ s marketing strategy which was aimed at more customer satisfaction. Considering the fact that Red bull was new in the energy drinks industry, proper marketing strategies essentially attributed to its success. This was made possible by employing a small number of staff despite its growth and preference of marketing towards simple commercials on television.
Therefore, the enormous growth of the Red Bull in Austria and the international community is used to demonstrate the important aspects of building brand equity. Sources of brand equity and adjustments in different market As a new brand, Red bull struggled to enter the market as a functional drink. Functional foods were not classified in the market and in order to enter the market, Red bull had to introduce well-planned strategies for it to succeed in its market niche. The company was drawn in various marketing activities to make sure the brand came out as a high selling product. The major activities for Red bull’ s marketing were geared towards ensuring the consumers had a complete idea of what the drink contained.
They were in different forms but with the same motive of attaining the brand’ s popularity. It is also noted that Red bull changed their marketing strategies in different markets according to consumer response. The first launch of the red bull took place in Austria where it enjoyed the market for five years before expanding to Europe and other countries such as the United States of America.
This was mainly because Red bull was the only functional drink in the Austrian market at that time. Several market strategies were put in place to ensure brand equity for the red bull brand. The most common approach applied in Austria was using the word of mouth strategy. This strategy involved convincing particular groups of people especially the youths and after drinking the brand they could go around informing the people about Red bull. This source of brand marketing was effective for Red bull’ s market brand entry in Austria.
To add on this, Red bull applied other strategies including the promotion of sporting activities, sponsorships of athletes and point-of-purchase marketing programs. Steadily, these approaches enabled the Red bull to penetrate into the market from the notable increase in the number of consumers. Another important strategy applied in marketing Red bull was by point of purchase marketing. This strategy involved various activities such as allocation and supply of refrigerators in assorted wholesaling and retailing entities (Simovic, 2010). Supply of the refrigerators was to enhance the easy supply and marketing of the Red bull brand in the market.