Red Bull is an Austrian beverage giant known for its unique marketing strategies and campaigns. The company is a marketing powerhouse that is known for its adventurous and widespread campaigns for its main products.
History
An Austrian company named Red Bull GmbH founded the energy drink Red Bull in 1987. It is sold in over 171 countries and is the highest-selling energy drink in the world. Red Bull was created by Dietrich Mateschitz, who took inspiration from an existing Thai energy drink called Krating Daeng which translates to "Red Bull". Mateschitz partnered with the Thai businessman Chaleo Yoovidhya, the creator of Krating Daeng and they launched Red Bull in Austria in 1987.
Stats
Red Bull is sold in over 170 countries as an energy drink and continues to dominate the market with more than 40% market share. For Red Bull, the marketing efforts always focus on the audience first, and then on their selling their products.
The company has continued to grow, with annual sales of over 7 billion cans as of 2021.
A total of 11.582 billion cans of Red Bull were sold worldwide in 2022, representing an increase of 18.1% from 2021 to 2022.
Unchanging And Memorable Slogan
Red Bull owns one of the most popular and memorable brand slogans in the world:
“Red Bull gives you wings“.
Created in 1997, it hasn’t changed a single bit until today as opposed to many other companies that are occasionally changing theirs when rebranding.
The company had to pay over 13 million dollars due to a class action lawsuit for false advertising because customers felt that Red Bull did not give them wings.
The Early Days
Red Bull thought that if it could not afford to sponsor events, then it would try to create its own.
Red Bull Flugtag is an event organized by Red Bull in which competitors attempt to fly home-made, human-powered flying machines, size-limited to around 10 meters (33 ft) and weight-limited to approximately 150 kilograms (330 lb). The first Red Bull Flugtag competition was held in 1992 in Vienna, Austria.
"Guerrilla Marketing"
The principle of guerrilla marketing involves using unconventional methods to promote a product or service.
Red Bull has built a reputation for itself as a company that publishes entertaining content. Red Bull's content is geared toward people who are looking for an adrenaline rush, and it often features extreme sports and athletes. From sponsoring the world's longest freefall to sponsoring BASE jumpers who leap from the tallest buildings in the world, Red Bull is always looking for new ways to push the boundaries of what is possible.
Red Bull is also known for its high-energy ads.
Triggering FOMO
Fear of missing out (FOMO) is the feeling of apprehension that one is missing out on experiences, or life decisions that could make one's life better.
In Red Bull’s early years, they placed empty cans in crowded public areas to create social proof and the impression that the brand was popular. Given the high pedestrian traffic, this was an ingenious way to get free advertising and make their presence known. They could even target specific groups of people by leaving cans on college campuses, stadiums, or nightclubs.
This strategy was highly controversial and most likely unauthorized, but it was probably worth the gamble given the low-cost and high potential reward.
This story proves that you don’t need large advertising budgets to get eyes on your product.
Red Bull’s pricing strategy is a complex mix of calculated factors such as consumer behavior, pricing techniques, distribution and promotion strategies, and competition.
The company’s heavy investment in research, marketing, and distribution combined with an open mind helps them to understand the right price for its product.
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