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Brand Audit Red Bull

Written by J. Barenbrock

Grade 1.0

Paper category

Term Paper

Subject

Business Administration>Marketing & Sales

Year

2018

Abstract

Brand Audit Term Paper: What is Red Bull famous for? Red Bull is known for its brand image that promotes fun, freedom and extreme lifestyles. Their slogan "Red Bull Gives You Wings" is related to various sports, such as water skiing and motorcycle competitions, dozens of Red Bull music events, sponsorship of motocross rider Ashley Fiolek and other athletes, New York Red Bull football team and other teams. Red Bull The website has entertainment features such as the Red Bull Soapbox Racer video game, weekly rock music announcements on Rock Report, and a section of movies and TV shows. The list of their entertainment features is endless and is recorded on their Facebook page, which has more than 49 million fans. The performance of the drink is succinctly expressed by the statement and the well-known (sticker point). These associations have established a strong brand awareness in the minds of consumers. 5.2 Brand elements Red Bull brand, name, logo and symbols, slogans, spokespersons and packaging and other brand elements go hand in hand to make Red Bull stand out from the competition. 5.3 Brand attribute memorability: Red Bull has a highly recognized brand name worldwide, which is inherently memorable and eye-catching. This helps overall consumption. The brand successfully positioned itself in the market, making it easy for consumers to recall the Red Bull brand name. Meaning: The red and blue colors of Red Bull are full of meaning. Indeed, red is the color of life and vitality, as well as the color of passion and desire. Blue is a symbol of strength, confidence and youth. Red Bull insists on taking its values ​​and core ideas as the lifeblood of the company. Cuteness: Red Bull’s packaging is modern, stylish and beautiful, which helps to identify the brand and convey descriptive and persuasive messages. Transferability: Because Red Bull is a global brand, its brand elements must be able to pass through different cultures and regions. The Red Bullsiconic symbol and logo and its slogan are easily transferred across various product categories and across geographic boundaries and cultures. All three elements work together to successfully introduce Red Bullbrand to new markets. Adaptability: Red Bull always retains its baisclogo (two bulls and Red Bull lettering). Depending on the industry, the logo has been slightly extended to product categories, but there has been no fundamental change. Protection: Red Bullbrand is protected by law and is highly protected against any unauthorized use. Other companies must not infringe their logos, symbols and brand names, and must not use and copy logos or symbols. According to the Red Bull website, all content on its website, including designs, graphics, logos, icons, images, audio clips, and downloads, is the exclusive property of Red Bull and belongs to Red Bull. 2 Company Red Bull 2.1 Company Red Bull is a company and brand founded in 1987 with the slogan "Red Bull Gives You Wings". The company founded by Dietrich Mateschitz has sold more than 50 billion cans to date and sold in 171 countries. In 2017, Red Bull sold 6.302 billion cans globally, an increase of 3.8% over 2016. However, due to currency and price factors, the company's turnover increased from 6.029 billion euros to 6.282 billion euros, an increase of 4.2%. In all key areas such as sales, revenue, productivity, and operating profit, the numbers recorded are the best in the company's history so far. The brand is known for supporting a large number of athletes in sports and extreme sports. They organize their own sports events and teams in different fields, for example. Football, Formula One or aviation sports. The biggest event they have supported in the past few years is "the leap from the stratosphere of Felixbaumgartner". 2.2 Business model Red Bull's business model is based on a differentiation strategy. Red Bull aims to showcase its unique product range in the entire industry. They offer their products as high-quality products in the high price segment. Communication based on enhanced product brand experience and unparalleled event marketing has enhanced Red Bull’s brand awareness. Since the launch of their energy drinks, they have been using the slogan "Red Bull Gives You Wings" to motivate people and demonstrate the advantages of their products in a highly resonant way. The properties of this drink-giving vitality, youth and strength-are succinctly represented by the statement and the famous stickman point. Red Bull also has many cooperations as resources, through which the brand becomes tangible. Most importantly, Youtube, Facebook and Instagram are used as channels. The content is about experiences with high memory value and strong emotional bonds. This is mainly achieved through extreme sports sponsored by Red Bull, such as Red Bull Flying Day, which is a successful example of its brand concept positioning. Red Bull's distribution is mainly through indirect sales channels based on the Push strategy. Red Bull sells large quantities of energy drinks to retailers such as convenience stores, supermarkets, pharmacies, clubs and warehouses, and hypermarkets. Their source of income comes from selling different energy products in large quantities at higher prices. The second smaller source of income is the sale of audiovisual media content, which comes from their activities and movies. 2.3 Strategic initiatives and goals Red Bull’s overall strategy is to maintain its leading position in the energy drink category while providing excellent customer service in an efficient and profitable manner. Their mission is to become the United States, Asia, Europe and the rest of the world. Read Less