Red Bull Company
Red Bull is the company behind one of world’s most popular energy drinks. Red Bull cans have been sold in over 100 countries. Red Bull also has a huge 70% share of the global market for energy drinks and functional beverages. It is the only company that has dominated the market in the fastest-growing segment of soft drinks in many countries. This has attracted many imitations.
Red Bull isn’t just a soft-drink brand. It is an energy drink made to increase physical and psychological stress. Red Bull’s effectiveness was proven by numerous scientific studies and is also highly appreciated by top drivers and athletes around the world. Austrian businessman Dietrich Mateschitz traveled to Asia in 1982 to find Blendax toothpaste. He came across Krating Deng, which literally means “Red Bull” in Thai. This was a cheap tonic that was sold in brown bottles. Factory workers used it to get more energy during long shifts. ChaleoYovidhya was the owner of TC Pharmaceuticals. Matechitz met Yoovidhya. They decided together to create a company for energy drinks.
Red Bull GmbH, which was then producing energy drinks, was founded in 1984. Mateschitz created a unique marketing campaign that allowed the company to begin selling the product in Austria in 1987. Red Bull was popularized and first appeared on the international market in Hungary in 1992. It was also introduced to Germany, Slovenia, and Switzerland in 1994. Red Bull made its first foray into the US market in 1997. By 2003, it had earned an estimated 40% of its turnover.
Red Bull should not use traditional advertising methods such as billboards, radio, or television to promote their brands until the market has matured. The company’s own marketing campaign, such as sponsorship of extreme sports events is expensive. However, it creates brand awareness especially for the target audience of Red Bull’s products, which includes younger adults. Their unique marketing strategy, which does not rely on print and television advertisements, has made the company a success. Red Bull has a unique guerrilla advertising method that explains this. Red Bull would lose its uniqueness if it adopted a traditional marketing strategy similar to its competitors. Sponsoring events and buzz-marketing has made Red Bull’s product stand out. Red Bull has a unique opportunity to reach young people through extreme sports events.
