Explain the concept of brand image and brand equity for Red Bull
Prior to beginning work on this discussion, review Chapter 10: Brand and Product Decisions in Global Marketing, look through Forbes’ list of The World’s Most Valuable BrandsLinks to an external site. , and watch The Billionaire Behind the Space JumpLinks to an external site. video. It is also recommended that you review the Red BullLinks to an external site. website.
There are a number of factors that can help a company build its product brand. Considerations in building a brand will require an understanding of both product concepts and branding concepts. Both Red Bull and Disney are among the many listed brands you will find in The World’s Most Valuable BrandsLinks to an external site. list.
In your initial post, address the following:
· Explain the concept of brand image and brand equity for Red Bull.
· Explain why Red Bull’s global marketing activities are so heavily invested around extreme sports and events that are associated with excitement and movement.
· Identify at least five examples of brand extensions and co-brandings that Disney has implemented besides Disney Parks. Briefly explain each example.
Your initial discussion post should be 250 words. Cite your textbook and any other sources used to support your ideas. You may refer to University of Arizona Global Campus Writing Center’s APA StyleLinks to an external site. resource for assistance.
Peer response
Mandy Knappenberger
Red Bull – Brand image and equity
The brand image consists of the consumers’ perception of a product. It is the summation of every contact the consumer has had with the product, from consuming it to reading about it, to word of mouth with others, to exposure to advertising (Green & Keegan, 2020, page 310). Brand equity is the total value of a product that occurs due to marketing investments. Green & Keegan used the analogy of home equity to explain the concept further: a homeowner invests in their home and pays down their mortgage, and home equity or value increases.
Red Bull’s brand image was carefully crafted by founder Dietrich Mateschitz in 1987. Marketing efforts began with handing out free samples to the target audience – 18-35-year-old men who talked about the product and created word-of-mouth buzz. Red Bull builds brand equity by investing in events and sponsoring extreme athletes. The strategy is to make the product visible but not push it. The events are designed to be enjoyable for both Red Bull consumers and those who do not drink energy drinks (Priya V, 2020).
Explain why Red Bull’s global marketing activities are so heavily invested in extreme sports and events that are associated with excitement and movement.
Red Bull’s global marketing activities heavily invest in extreme sports and events to create an association between the brand and the activities its target audience enjoys and the perceived benefit of Red Bull giving consumers the energy to participate in an active lifestyle. Red Bull puts the product second and focuses on content and activities the consumer enjoys. The Red Bull website also follows this strategy. The content focuses on future events, sponsored athlete bios, and articles and videos on extreme activities.
Identify at least 5 examples of brand extensions and cobranding that Disney has implemented besides theme parks. Briefly explain.
1. Disney English-language training center in China is a lesser-known brand extension.
2. The Disney Channel is a brand extension that leverages the Disney name to provide Disney-produced programming for small children and teenagers.
3. Disney Vacation Club is a brand extension which is a network of vacation resorts throughout the United States.
4. Disney has often partnered with Pixar films to produce cobranded films like Monsters, Inc., A Bug’s Life, and Ratatouille.
5. The Disney Store is a brand extension found in many shopping malls selling Disney-branded items.
6. Disney has partnered with several unexpected brands like Nike, Kate Spade, Adidas, Uniqlo, Givenchy, and others to produce Disney cobranded items which take advantage of the strength of both the Disney brand equity and the equity of the cobranding partner.
References:
Green, M. C., & Keegan, W. J. (2020). Global marketing (10th ed.) . Pearson.
Priya V, S. (2020, June 24). How Red Bull turned a niche market into a billion-dollar global industry and became a powerhouse of marketing strategies? https://www.linkedin.com/pulse/how-red-bull-turned-niche-market-billion-dollar-vishwanathan/Links to an external site.
Stacey Barnes
Good Morning class,
Explain the concept of brand image and brand equity for Red Bull.
Red Bull has established itself as the dominant force in the energy drink industry, thanks to its effective branding and marketing strategies. The brand is geared towards enhancing performance, and as a result, it has sponsored numerous action sports and events. Red Bull is widely used by consumers for various purposes, whether it’s to stay awake during late-night study sessions, to replace coffee for professionals, or to fuel adrenaline junkies seeking new challenges. The brand has successfully built its image through its slogan “Red Bull gives you wings” and its iconic logo featuring two bulls. “Red Bull has a marketing strategy that focuses on athletes and extreme sports to position itself as a brand for people who want to push their limits”(Rakic, redbull.com). This has created an association with energy, performance enhancement, and the ability to achieve the impossible. By maintaining higher prices and focusing on extreme sports in its marketing campaigns, Red Bull has carved out its own niche in the market, separate from traditional soft drinks, and positioned itself as a superior product.
Explain why Red Bull’s global marketing activities are so heavily invested around extreme sports and events that are associated with excitement and movement.
Red Bull’s formula goes beyond what a consumer can find in a soda or even coffee. “By strategically positioning itself as a high-performance enhancer, Red Bull successfully created a distinct identity in the minds of consumers” (Larsen, untaylored.com). This product is perfect for extreme sports and activities that demand a high level of energy. By focusing on extreme sports and events, Red Bull attracts their target audience without discrimination. Utilizing top athletes to endorse this product gives the general public the impression that they too can perform at their best by consuming Red Bull.
Identify at least five examples of brand extensions and co-brandings that Disney has implemented besides Disney Parks. Briefly explain each example.
1. Media networks responsible for promoting Disney experiences and movies are ESPN, Disney channels, and ABC, among others.
2. Walt-Disney Studios includes Pixar, Marvel, and Disney Music Group among others. As the amusement parks revolve around Disney movies, this segment is necessary for continued promotion.
3. The Star Wars Franchise being a avenue to attract a certain population of people to Disney that they would not be able to without the help of brand.
4. Disney Resorts offer guests the opportunity to immerse themselves in the complete Disney experience, with the assurance of receiving top-notch treatment and exceptional customer service throughout their stay.
5. Disney has collaborated with companies like Coca-Cola, General Motors, Nestlé, and McDonald’s to expand its brand reach to various audiences.
References
Rakic, J. (2022, January 20). FOCUS: What drives the world’s top athletes. Red Bull. https://www.redbull.com/au-en/focus-what-drives-the-worlds-top-athletesLinks to an external site.
Larsen, R. (2024, April 26). The business model and revenue streams of Red Bull explained. Untaylored. https://www.untaylored.com/post/the-business-model-and-revenue-streams-of-red-bull-explained
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