Reference no: EM133188191
This case concerns the marketing efforts to build Red Bull's brand equity, a product first discovered in Thailand and launched in Austria in 1987. The case discusses the companies slow growth strategy and plans to enter new markets in a methodical fashion in order to maximize buzz and anticipation. Red Bull achieved remarkable growth with only one product (the familiar blue/silver can) and very little advertising support, especially when compared to many other companies in the beverage industry. The company's strategic choice of brand elements played a major role in the successful creation of the brand as we have come to know it. The future challenge for the brand is to continue its growth and market category dominance, despite growing competition from Coke, Budweiser, PepsiCo and additional new competitors.
1) Describe Red Bull's sources of brand equity. Do these sources change depending on the market or country?
2) Analyze the various aspects of Red Bulls' marketing mix (product, price, place, promotion) and the design and utilization of their various brand elements (name, logo, symbols, packaging, slogans, etc.). How does the design of the various brand elements support and reinforce the brand's equity and positioning (example - "Red Bull gives you wiings!")
3) Analyze Red Bull's overall marketing program design (marketing mix) in terms of how it contributes to and supports the brand's equity. Discuss what you feel are the strengths and weaknesses of Red Bull's strategy?
4) In recent years, Red Bull has lost significant market share, especially in the U.S. to the likes of Monster Beverage Corporation. How can Red Bull maintain / regain their marketing momentum? Would you recommend that Red Bull develop any additional brand extensions (new products)? If so, what would they be? Would you use the same marketing strategy for your new products?
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