The precise ways in which a brand adds value can be recognised through gaining knowledge about the sources of brand equity (Keller, n.d.). In relation to the provided case scenario related to Red Bull, it can be comprehended that the company focused on the aspect of creating brand awareness as well as establishing their brand image. These two facets are the key sources of their brand equity. Development of the source of brand awareness has facilitated Red Bull to develop its brand equity. Red Bull has especially focused on the element of brand recall. Brand recall refers to the customers’ capability to distinguish a particular brand within different circumstances (Keller, n.d.). . With this notion, Red Bull concentrated on designing its products attractively. Moreover, within its growth strategy the company entered new markets by taking a slow method to optimize the anticipation as well as buzz from the company (Das, 2012). This was a key strategy to build brand equity of the company. Moreover, it focused on inventing the aspect of functional energy within the beverage category segment which facilitated it to create a distinct brand image among the customers. It also focused on above-the-line strategy with regard to marketing aspect to draw the attention of its customers. It created an eye-catching logo of two red bulls and a yellow sun. The animated message reinforced the value of Red Bull as a drink that gives an individual ‘wings’ i.e. it energizes the person. This has been the main notion conveyed by the company to its consumers which is the key source of brand equity for the company (Kumar & Robert 1988). Incorporation of a distinct flavour and packaging along with positioning were the other major facets for the company that facilitated it to develop its brand equity. In terms of packaging, under the logo of the company, highlighting the aspect of energy drink was a major consideration by the company. Moreover, it positioned the brand as revitalizing substance for body and mind. The product started to create a buzz as a mixer element in varied markets, however, the company primarily attempted to go beyond this aspect and appeal to a broader section of consumers especially the young ones (Rehman, 2011). The company also concentred on participating in different events and sporting activities which substantially boosted up its name and logo, which are the imperative elements for success of a company in terms of augmenting its brand equity. Q:2. Analysis of Red Bull’s Marketing Programs in Terms of how it contributes to the Brand’s Equity Red Bull is using uncongenial adverting policies, as it has uniquely positioned itself in the beverage industry. Its distinctive positioning has allowed it to detain a significant amount of brand recognition in different nations. The company focused on creating a sense of mystique amid its customers through its marketing program. It initially focused on word-of-mouth traditional method of advertising technique, however, it wanted to spread the awareness of the brand even more (Collins & Rusktad, 2008). Red Bull’s promotion strategies had facilitated it to flourish in the facets of market share, income, and units sold (Sarah, 2009). Exceptional positioning strategies were focused on by the company by targeting high-school and colleges going
Individual Case Analysis Q:1) Red Bull’s Sources of Brand Equity Brand equity can be stated as a collection of brand assets as well as liabilities related to a brand. It also encompasses the name of a brand along with its symbol which evidently adds to or takes away from the value offered by a service or product to an organisation along with its consumers (Aaker, 1991)…
This practice has been followed for over four decades. Ireland benefitted from the increased scale of global FDI in the 1960s (Casey, 3). They paved a path for establishment of a more fiscal and financial environment among the other European countries. The country entered into the European community in the 1970s and it further enhanced the path to attract more FDI into the country.
His architectural firm has been doing good for about six years now and until he realizes that the normalcy and the complacency is threatening its operations. He thus decides to extend the operations of his company’s operations to newer markets. The brain behind all these push for expansion is a very junior partner in the firm, Mitch Brooks.
Reflection 9 5. Recommendation 10 6. Conclusion 11 7. References 12 1. Executive Summary Every organization requires maintaining cultural diversity in order to promote internationalization at local level. This can have positive as well as negative impact on the performance, profitability and productivity of the organization.
and the efforts to comply with its requisites have their socio-cultural and psychological repercussions. People are prone to resist change (Brownwynne, 2007, p. 119), particularly those compelling a fundamental acceptance of values, norms and attitudes that differ from those to which they had been accustomed.
In 1973, Ireland became the member of the European Economic Community and with the freeing of trade and a larger catchment area, the Irish economy proceeded from strength to strength. In the 1980’s though the economy suffered from
The founder of the company Sochiro Honda and partner Takeo Fujisawa were determined to make Honda amongst the top companies around the world. The founder of Honda was very innovative, whereas Fujisawa was an optimistic man who
Cleveland Clinic’s Overall Strategy. The services of Cleveland Clinic are globally renowned for quality. The Clinic has taken several initiatives in order to grow its business by adopting and implementing the strategies like
r Boston Chicken, more women at work meant the family has less time for home cooking and health concern in food selection meant more chicken on the table. Boston Chicken offered replacement of home meal, which included home-style entrees of chicken, turkey, ham, meat loaf,
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