Deconstructing Red Bull's Empire
Red Bull has a couple of distinct advantages as more companies like Coca-Cola, Pepsi, and Monster enter the energy drink category. Firstly, Red Bull knows its audience well and has built a solid reputation among the young people that have helped pioneer the popularity of this beverage. Additionally, Red Bull has cultivated a significant social standing with its audience, to the point where there are certain social situations and settings in which the consumption of this beverage is deemed appropriate -- particularly as they relate to the perceived need for energy, excitement, youthful behavior, etc. Also, Red Bull's marketing approach is unique and difficult for others who are less familiar with the energy drink market to duplicate. The potential risks that Red Bull will likely encounter pertain to its position atop the energy drink market. The aforementioned newcomers will probably attempt to duplicate most aspects of Red Bull's strategies -- from conspicuous ways such as patterning products and placements to look like those of Red Bull's to more subtle approaches involving sampling and sponsorship opportunities. Additionally, Pepsi and Coke have vast audiences that may be willing to follow them into the energy drink market.
2. At this point, it...
Quite simply, the company has made considerable progress and achieved success utilizing its unconventional methods. Therefore, there are few incentives to adopt more conventional methods. Additionally, the company's unorthodox approach coincides with its target audience. Young adults and teenagers are looking for different approaches and ways of dealing with life. Subsequently, alternative approaches to reaching this audience -- such as sponsoring cars in auto races (Anderson, 2015, p. 14) can have a degree of success that others cannot match. An analysis of Red Bull's past and current revenue sheets can attest to this fact. The demographic that Red Bull is targeting has obviously responded to its unconventional marketing approaches. Traditional marketing approaches are proven to resonate with audiences that are not necessarily the ones that this organization is attempting to target. Those methods may work with older audiences and, for that matter, even younger ones that that which Red Bull is attempting to attract. The company's strategy of starting out its campaign efforts at bars and night clubs is invaluable to gathering market share with its audience of 16 to 29-year-olds, since such advertising at these…
