• Home
  • Marketing
  • Enhancing brand appeals through an understanding of consumer personality and self-concept

Enhancing brand appeals through an understanding of consumer personality and self-concept Essay Example

  • Category:
    Marketing
  • Document type:
    Essay
  • Level:
    Undergraduate
  • Page:
    2
  • Words:
    1091

Enhancing brand appeals through an understanding of consumer personality and self-concept — Based on the product Red Bull

Introduction

Red Bull GmbH Company introduced an energy drink by the name Red Bull in 1987 in Australia. Its founder is Dietrich Mateschitz. The energy drink first advert was done in 1987 and it attracted so many customers. In 2011, Red Bull Company made sales of 4.6 billion cans of the Red Bull energy drink. The company operates on a slogan that ‘red bull gives you wings’. Mateschitz got the insipartion to introduce the energy drink after visiting Thailand in 1982 and used KratingDaeng a Thailand energy drink that he used to cure jet lag problems. After getting inspired, Mateschitz lured his friend ChaleoYoovidhya to invest $500,000 for the launching of the energy drink. By 1992, the company gained popularity and started stretching into international markets. In 1997, the energy drink started making sales in USA(Shayon, 2011).

The two founders are amongst the 250th richest people in the world. This is according to Forbes magazine each worth $4 billion. In China, the drink is sold as regular strength version in a short wide can. It is also sold in an extra strength version in taller, thinner, blue silver cans and not carbonated. There have been concerns about the health effect of the drink. However, Health Canada conducted a research on the drink and made conclusions that people who use the drink are at minimal risk of caffeine levels. Humans require an average limit of 400mg of caffeine per day. The research also conclude that Taurine and glucuronolactone are normal body constituents which are present in human diet hence pose no health risk to humans (Natasha, 2011).

Red Bull’s marketing approach was evident in the 1990’s when the brand gained so much popularity and began opening branches in foreign countries. Despite the negative rumors about the drink, its founders believe that their silence has played a major role in winning a larger market share in the world and beating its stiff competitors. Mateshitz believe that their marketing strategy is unique and appeals to the many customers. Their slogan has also played a role in attracting new customers. Characters such as intelligence, innovative, non-conforming, self-confidence, extreme, and witty has helped in marketing and promoting the product in a unique way(Rodgers, 2001).

Red Bull’s strong personality and their unique personality is responsible for their positive profile and their success. The company is involved in sponsoring athletes in traditional and extreme sports. Red Bull is a major promoter of sporting events that takes place in the world. They are the official sponsors of Red Bull Stratos, Red Bull crushed Ice Series, Red Bull X-fighters World Tour in 2010 and Red Bull cliff Diving World Series. In addition to this, they are also the owners of the New York’s Red Bull stadium, Red Bull Leipzig and Brazil, 2 Formula racing and 1Nescar team. The company also sponsors Abt Sports line for the TT DTM, Audi Sport for the A4 DTM. The company is involved with sponsoring young drivers who compete in single seater races under Red Bull Junior Team(Redbull.com, 2013).

The distinctive marketing approach to marketing has ensured that the company sells 4 billion cans in 160 countries in the world. Progressive marketing strategy is the key to this success. The strategy aims at constantly eve loving and developing new products. In 2008, the company introduced Red Bull Cola. The approach also ensures that customers are engaged in providing feedback to the company hence providing their desired Red Bull energy drink to the innovators. The company has also ensured that it makes full use of the social media to market its product. The social media is a faster and a cheaper means of communication, which allows for easy customer seller interaction (Redbull.com, 2013).

Without the marketing mix approach, it is not easy for multinational companies like Red Bull to make sales. It involves the 4P’s.

  • Product- these involves the specific features and benefits of the product

  • Place-involves where the product is sold

  • Price- involves setting of the right price in each market

  • Promotion- By use of the most suitable form of promotion to reach customers

In the case of Red Bull Energy drink, the taste is unique and not the same as others. It has a functional effect of proving energy compared to other soft drinks. Most of the long travellers prefer this drink to supplement their energy after a long journey. The product is also easy to find. Red Bull energy group is in 160 countries and most of the major international airports in the world. The Company has ensured that it uses a premium pricing strategy that ensures the product is able to compete effectively in the market. Consumers of the product are always willing to pay premium prices for the energy drink due to its quality. This is evident by the fact that the energy drink is the world’s bestselling energy drink. Amongst the four marketing mix elements, promotion is the most interesting. The company has managed to create lasting impressions to its customers.

This is mainly through the slogan of giving people wings. In nature, it is real since the drink provides energy and activates the muscles hence people feel like flying. Besides this, the company has provided many athletes with ‘wings’ by promoting them in different disciplines of sports that have already been mentioned above in this paper. In addition to this, the company has provided its customers with awareness by capturing their attention. They then stimulate their interest through their slogan and this leads to a lasting desire for the product. Psychologically, the customer will eventually take action and purchase the product (Redbull.com, 2013).

The company therefore needs to continue with its strategic innovation to please and attract more customers. There is also the need for the company to engage in opening of more branches in the world to enhance a wider pool of customers. Red Bull Company needs to acquire new technology to increase its efficiency in terms of production.

Works Cited

Natasha (2011), “Red Bull Shows Its Brand Personality” New To The Block on Marketing,

(February) <http://newtotheblock.wordpress.com/2012/02/11/redbull/>

Red Bull (2013), “Who Makes Red Bull, Red Bull Origin” Red Bull The Company, as viewed

16th July 2013, < http://energydrink.redbull.com/company>

Red Bull (2013), “Story and Milestones” Red Bull History, as viewed 16th July 2013,

<http://energydrink.redbull.com/red-bull-history>

Rodgers, Anni L. (2001), “It’s a (Red) Bull Market After All” Fast Company, (September)

<http://www.fastcompany.com/64658/its-red-bull-market-after-all>

Shayon, Sheila (2011), “Red Bull High Energy Extreme Branding” Brand Channel, (September)

<http://www.brandchannel.com/features_profile.asp?pr_id=545>