Red Bull Case Study Analysis
The Red Bull marketing case study shows that it is the most famous in the world energy tonic drink. When in 1982 the Austrian Dietrich Mateschitz was on a business trip to East Asia, he became interested in local energy drinks. He was particularly impressed by Krathing Daeng and bought license rights.
This exemplum is interesting for studying. It proves that openness to new ideas and breadth of thought increases the chances of success. This offspring was not a novelty in the homeland but became popular in Europe due to a successful choice of the idea.
Why Should We Do a Marketing Analysis?
Business research is a complex procedure. This includes a number of steps to collect and comprehend data about a rialto, the features of the offspring and the needs of its potential customers, the development and analysis of the business plan, the definition of the main goals of the advertising campaign and much more. But all these actions have one common goal.
They should lead the company to success. It is logical that in order to understand what offspring or service to develop, how to position yourself in the market, how to search for the aim consumer, it is necessary to see how already successful companies behaved at the start of their development. Making such an analysis on different company’s activities, one should notice that they have a lot of common features. In one world, these features can be characterized as innovations. These innovations are manifested not only in the choice of a offspring or service but also in its marketing and advertising strategy.
The Red Bull case study is a great exemple to discover all these perspectives and see how they worked out.
The Development of a New Market
The Red Bull marketing strategy case study explains the reason for its success. After the development of the organization’s policy, a new power energetic appeared on the market. However, a start was not successful. There was no market for energy drinks, and Dietrich had no experience at all. The first years the company brought only a million losses, however, over time, unusual business planning yielded results.
This company is worth of studying as an exemplum of work across no developed market. Not many companies would take such a risky step, but this exemplum shows that literate marketing in an unoccupied niche is the key to success. But the matter is even more unprecendented. The company continued its path even despite significant losses, so this moment also should be studied as evidence that sometimes it is worth to take a great risk in order to have a great profit in future.
Straightforward Marketing Solutions
In addition, the manufacturer successfully selected the telic acquirers for the offspring – Red Bull was advertised and distributed in universities and nightclubs.
The Austrian’s confidence in the future of the offspring was so strong that he completely ignored the results of the sociological survey, which unequivocally testified to the negative perception by consumers of the taste, design, and advertising of Red Bull. Of course, this is an unprecedented exemplum of ignoring marketing research. But even if it is rather surprised, the failures were turned into success, which makes the study of the company’s activities even more interesting from the point of view of positioning in the market and belief in future recognition.