Red Bull Marketing Research
Red Bull- Final Report
“Gives You Wings”
Team 1:
Amanda Laverman
Chelsea Anderson
Jake Jamison
Jon Maeser
Rachel Rimathe
Background
The Red Bull brand is an iconic worldwide model of how a company can create a powerhouse and a style of marketing that many traditional companies would never attempt. The company uses its extreme stunts and sponsorships of extreme sports to promote the brand and product and excel in a style that has attracted a younger generation with a main focus on teenagers to the late twenties. This has mainly been due to the success of Dietrich Mateschitz, who helped found the company with a marketing degree from a school in Austria, and prior corporate marketing experience after working for Blendax, (now Proctor & Gamble) (Solomon). Thus far, the brand has found ways of success even in difficult economic times using its marketing to pave the way for other companies and competitors to emulate. In recent times, Tim Krieglstein has been promoted to a lead marketing position for the company (Ramsay). Krieglstein, as well as the other Red Bull marketers now have a decision to make for the brand in order to stay relevant with their current consumer base. As the clientele ages, their wants in a drink slowly change too. As a company, Red Bull will have to exercise their options and find whether it would be appropriate and cost effective to introduce a different product into the market still living up to the Red Bull advertising ideals of extremity however have a focus on health and wellness. Their other alternative would be to create or buy a brand, as other competitors have done to differentiate all-together in order to focus on their current as well as new older clientele.
Competition
The option for Red Bull to create or buy a brand with a healthy focus or for the older clientele is a relatively common practice for brands that want to expand their consumer base. There currently are competitors already in Red Bull’s market that have
“Gives You Wings”
Team 1:
Amanda Laverman
Chelsea Anderson
Jake Jamison
Jon Maeser
Rachel Rimathe
Background
The Red Bull brand is an iconic worldwide model of how a company can create a powerhouse and a style of marketing that many traditional companies would never attempt. The company uses its extreme stunts and sponsorships of extreme sports to promote the brand and product and excel in a style that has attracted a younger generation with a main focus on teenagers to the late twenties. This has mainly been due to the success of Dietrich Mateschitz, who helped found the company with a marketing degree from a school in Austria, and prior corporate marketing experience after working for Blendax, (now Proctor & Gamble) (Solomon). Thus far, the brand has found ways of success even in difficult economic times using its marketing to pave the way for other companies and competitors to emulate. In recent times, Tim Krieglstein has been promoted to a lead marketing position for the company (Ramsay). Krieglstein, as well as the other Red Bull marketers now have a decision to make for the brand in order to stay relevant with their current consumer base. As the clientele ages, their wants in a drink slowly change too. As a company, Red Bull will have to exercise their options and find whether it would be appropriate and cost effective to introduce a different product into the market still living up to the Red Bull advertising ideals of extremity however have a focus on health and wellness. Their other alternative would be to create or buy a brand, as other competitors have done to differentiate all-together in order to focus on their current as well as new older clientele.
Competition
The option for Red Bull to create or buy a brand with a healthy focus or for the older clientele is a relatively common practice for brands that want to expand their consumer base. There currently are competitors already in Red Bull’s market that have
Cited: "Coca-Cola Global: Soft Drinks & Beverage Products." Coca-Cola Global: Soft Drinks & Beverage Products. N.p., n.d. Web. 28 Nov. 2012. <http://www.cocacola.com/>. "PepsiCo Home | PepsiCo.com." RSS. N.p., n.d. Web. 28 Nov. 2012. <http://www.pepsico.com/>. Ramsay, Fiona. "Red Bull Drafts in Tim Krieglstein as Marketing Director." Marketing Magazine. Haymarket, 3 Mar. 2009. Web. 28 Nov. 2012. <http://www.marketingmagazine.co.uk/news/886884/Red-Bull-drafts-Tim-Krieglstein-marketing-director/>. Solomon, Brian. "Defying Corporate Culture." Forbes. Forbes Magazine, 15 Oct. 2012. Web. 28 Nov. 2012. <http://www.forbes.com/sites/briansolomon/2012/10/15/meet-the-billionaire-behind-red-bulls-death-defying-corporate-culture/>.