Red Bull and Its Marketing Innovations Essay Example

Introduction

According (Gorse, 2010), companies should be able to come up with effective marketing strategies that will be centered on ensuring the needs of customers are observed. They should do so by developing active marketing brands or campaigns that will engage the customers towards them accepting the products the company is intending to sell. I have chosen to use Red Bull Company due to its robust marketing strategies. Red Bull Company is an energy drink sold by Australian firms.

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According to (Gorse, 2010), Red Bull Company has the highest market place share of any energy drink in the world, with a rough revenue of 6.05 billion euro in the two years ago. The company has a very effective branding campaign that is focused on attracting customers and improving customer loyalty. The company has a more active branding strategy than Coke or Pepsi. Their approach was focused on creating a marketing campaign that aims at promoting lifestyle and audience. The company is well known for sponsoring sports events like Formula 1, Austrian Football team and an RB Leipzig a team featuring in Bundesliga matches and athletic activities (Baltes, 2008). Red Bull Company went Revolutionary to put its brand and cans for most consumers to drink its products. What made me choose Red Bull Company as a branding strategy is a vision they had in the year 2012-2013 which was intended on increasing cognizance of the company products to over 60 populations inclusive of both men and women after the two-hour session. Perhaps their most attractive marketing strategy is that it is focused creating a marketing strategy through sponsoring sports activities geared to promoting the consumption of energy drinks, as lifestyle is supported and traffic will be generated in these events which will inevitably buy their drinks in order to watch their favorite sports activities like soccer, formula 1 and athletics. Red Bull Company uses Amazon typically as a retailer to link to the consumers, once they purchase the energy drink for the company (Kotabe, 2014). The rationale behind the use of Red Bull Company as the best example of the company since it centers on the notion their products give people energy they need to do whatever they feel like doing, this shows that their marketing strategy was centered around fulfilling the tastes and preferences of its customers, especially sportsperson.

According (Andreasson, 2018), Several innovative marketing tools make the company effective in terms of marketing strategy.

Visual Website Optimization (VWO)

The company uses this website for improving and monitoring the sales it makes on its products when their sponsorship events are on ongoing. WVO will help retrieve the sales reports which would have otherwise require hiring expensive sales analysts.

KEYHOLE

This is known as the hashtag concept. It helps to in creating and monitoring conversations on social media platforms like Twitter and Instagram, and the company uses these platforms typically to advertise their products a generate a discussion on it. It evaluates real-time data and showing the results in a graphical format that is easily understandable. It helps single out engaging with your brand. It also provides customers with a comprehensive investigation of performance in analyzing the effectiveness of the marketing campaigns.

VIDEO LEARN

Videos are the most powerful tool for convincing potential clients to buy energy drinks. Red Bull Company uses a video link to create campaigns that will be geared to persuade customers to try out their sponsored events where they will be able to attract more people who will inevitably have to buy their energy drink. Like they can create a video link advertising Monaco Grand Prix and said the entrance would be buying two cans of red bull energy drink and through this means the company will indirectly generate revenues as a result of high numbers of sales. They will be able to create high-quality videos in faster means.

OPTIMIZE PRESS

This is a tool of generating amazing landing pages that get you conversions of ads placed into possible sales. It can also help in creating a high number of templates as a marketing strategy to present your products to the potential clients who will reciprocate through sales of energy drinks.

According to (Chionne, 2014), these tools are compatible with those who the consumer target segment since the above discussed online marketing tools are all focused on enhancing better marketing strategies which will attract the potential customers to participate the events sponsored by the company and through that means they will be able to purchase the energy red bull energy drink, and that is how the company will raise its sales revenue, and they will use online marketing tools to inform those firmly attached to sports activities and athletics of the upcoming dates of events.

Conclusion

Red Bull Company has the best marketing strategy which involves satisfying the lifestyle of its clients in terms of allowing them to participate in sports activities and athletics competitions which they sponsor and take advantage of those events to raise sales revenue. The company has a very effective branding campaign that is focused on attracting customers and improving customers' loyalty.

References

Gorse, S., Chadwick, S., & Burton, N. (2010). Entrepreneurship through sports marketing: A case analysis of Red Bull in sport. Journal of Sponsorship, 3(4).

Baltes, G., & Leibing, I. (2008). Guerrilla marketing for information services. New Library World, 109(1/2), 46-55.

Andreasson, L., Ek Berglund, M., & Svensson, A. (2018). The Power of Innovation: Exploring Innovativeness and its Influence on Brand Loyalty in a Saturated Market through the Eyes of Generation Y.

Chionne, R., & Scozzese, G. (2014). Some evidence on unconventional marketing: focus on guerrilla marketing. International Business Research, 7(12), 153.

Kotabe, M., & Helsen, K. (2014). Global marketing management.