Thursday, August 8, 2019
Report on the Case Study of the Red Bull Brand Essay - 1
Report on the Case Study of the Red Bull Brand - Essay Example Although Red-Bull is a single product offering, it has been able to achieve brand equity across the world through its uniqueness and other factors that enable customers to identify it as unique and different from other soft drink and energy drink offerings on the market. In summary, it's unique packaging (the blue, silver and red 250ml can) is famous around the world. Also, the unique content and effects on users is a very strong element of brand equity since it gives consumers a very positive physical, mental and health advantages that most competitors do not give. The Burnett model states that a brand equity has four main facades: personality image, source, differences and functions (Randall, 2000). In terms of personality image, customers around the world feel good about the health and mental alertness that Red Bull provides. They respect it as a premier energy drink because it does what a normal cup of coffee would do but with a very positive impact on the individual. Secondly, Red Bull seems to stand for good health, vitality, and productivity and that is exactly how it is promoted and packaged as a revitalized. Also, Red Bull was originally created to be different from all other soft and energy drink offerings on the market. Now that several similar products are available, Red Bull still maintains its distinct packaging and content which keeps it embedded in the mind of consumers. In spite of the universal nature of Red Bulls brand, there was the need for some variation in the brand offering in markets around the world. Dunn (2004) points out that there are six main processes that a business needs to go through before they can create brand equity and they are: Market analysis involves scanning the dominant environmental factors in a country before offering your products in a country.