Redbull Case

Published: 2021-09-10 18:35:09
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Category: Business

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Red Bull Case
1. Describe Red Bull's sources of brand equity. Do these sources change depending on the market or country?
Red Bull's Brand Equity
* Red Bull has strong brand equity
o Favorable and strong brand awareness as well as brand image
o Strong recognition
o Quality product with loyal consumers
o "Red Bull gives you wiiings" - this slogan helps consumers to better recall the product
o Image of the product as a sophisticated drink that provides consumers with a much needed lift
o Equity has also been built up due to marketing, advertising, and various partnerships and associations (ie sports teams)
* Packaging

o Single silver and blue 250ml can that contains the Red Bull logo as well as the words "energy drink" (which helps consumers quickly identify the type of product they are purchasing)
 Very unique can and easily recognizable
 Logo has two bulls colliding with one another with a sun in the middle. The bulls are supposed to represent strength and energy coming together
* Attributes
o Combination of caffeine, taurine, and glucoronolactone is unique
 Provides energy
 Improves physical endurance
 Stimulates metabolism and helps eliminate waste substances
 Improves overall feeling of well-being
 Improves reaction speed and concentration
 Increases mental alertness
* Positioning
o "Revitalizes body and mind"
o They position themselves to the average consumer who needs something to help them do better in school, work, sports, or any other mentally or physically demanding activity
 This creates multiple segmentation opportunities
* Price
o More expensive than its competitors as well as other soft drinks
o Red Bulls positions the product above 10% of the upper-segment of the competition in order to create the mindset of the premium brand
 Red Bull's brand equity is proven to be strong because consumers are willing to pay for the brand's equity premium
 Makes consumers believe they are getting much more than they get from soda or other energy drinks, hence their willingness to pay a higher price
 Suggests the product is superior and worthy of a higher price
* If Red Bull was priced in accordance with soda then consumers may not recognize Red Bull as being much different than soda
 Do sources change depending on market or country?

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