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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).
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. ...
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