Case Analysis Of Red Bull

Decent Essays
Enhancing business success is a challenging task for the enterprise owners due to the hostile and dynamic environments that the initiatives operate. Additionally, the roles are more complicated as it confines managers with the obligation of maximizing profits based on the scarce resources in the market (Veljković & Kaličanin, 2016). Significantly, the most fundamental intangible materials required by companies is the brand as it provides substantial market value to the industry. A brand is described as a symbol or design or its combination that is incorporated into a firm to identify its good and services to its consumers (Veljković & Kaličanin, 2016). Therefore, this paper discusses Red Bull’s brand strategy, threats, and opportunities, and its success in the entrepreneurship.
Red Bull’s Key Success in the Market
Red Bull Company faces numerous rivalry from other industries such as Pepsi, Coca-Cola, and retailer brands like Blue Charge offered by Walmart. In essence, Red Bull is an energy drink enterprise that has a significant number of loyal customers spread across the globe making it be a lifestyle icon through the development of effective brand strategy Cnossen et al., 2015). Additionally, the branding approach is created to enhance deep and emotional
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The approach enabled consumers to readily acquire the commodity and influence other shoppers in the pyramid through word of mouth (Aaker, 2011). Additionally, integration of sport and entertainment personalities in influencing customer’s decision in the market played a significant role in expanding the firm’s trademark. Similarly, the pre-marketing tactic employed by the business such as sponsoring of activities in places that the company has not launched its product also helped in creating consumer awareness and market ambassadors (Aaker,
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