Brand Report - Monster v Red Bull
Brand Management - Red Bull v Monster in Australia’s FMCG Industry
At the heart of every great organisation, is a world class product or service and in any competitive business market, organisations rival to be every consumer’s “first choice”. Effective brand management is essential to every business – building strong brands that not only reflect value and credibility, but also outlive the product or service the business offers, is a challenge for many organisations today. The FMCG (Fast Moving Consumer Goods) industry is one of the biggest industries in the world, simply because of the brands and products that make up this sector such as Colgate, Dove, Palmolive and the list goes on. This report will compare two FMCG brands within the Australian market, namely Monster Energy and Red Bull, and the consumer’s levels of brand awareness towards the selected brands. It will also discuss the importance of brand association and how this is measured. Through the use of these brands, Monster Energy and Red Bull, the report will illustrate the importance of an organisation’s ability to continuously build brand awareness with its consumers.
Launched by Hansen Natural in 2002, Monster Energy penetrated the Australian market in 2009 and has since bumped up the consumption of energy drinks in Australia to 225 million litres, resulting in gross sale of $2.37 billion, according to Monster Corp’s 2012 annual report. This figure also includes Australia’s number one selling energy drink company, Red Bull, with a market share of 40%. As defined by Kotler (2009), a brand can be a name, sign, logo, symbol or a combination of these, that identifies an organisation’s product or service, differentiating them from other competitors. According to Keller (1993), brand equity is conceptualized from the perspective of the individual consumer. He also asserts that customer-based brand equity (CBBE) occurs when the consumer is familiar with the brand and whilst holding favourable, strong
At the heart of every great organisation, is a world class product or service and in any competitive business market, organisations rival to be every consumer’s “first choice”. Effective brand management is essential to every business – building strong brands that not only reflect value and credibility, but also outlive the product or service the business offers, is a challenge for many organisations today. The FMCG (Fast Moving Consumer Goods) industry is one of the biggest industries in the world, simply because of the brands and products that make up this sector such as Colgate, Dove, Palmolive and the list goes on. This report will compare two FMCG brands within the Australian market, namely Monster Energy and Red Bull, and the consumer’s levels of brand awareness towards the selected brands. It will also discuss the importance of brand association and how this is measured. Through the use of these brands, Monster Energy and Red Bull, the report will illustrate the importance of an organisation’s ability to continuously build brand awareness with its consumers.
Launched by Hansen Natural in 2002, Monster Energy penetrated the Australian market in 2009 and has since bumped up the consumption of energy drinks in Australia to 225 million litres, resulting in gross sale of $2.37 billion, according to Monster Corp’s 2012 annual report. This figure also includes Australia’s number one selling energy drink company, Red Bull, with a market share of 40%. As defined by Kotler (2009), a brand can be a name, sign, logo, symbol or a combination of these, that identifies an organisation’s product or service, differentiating them from other competitors. According to Keller (1993), brand equity is conceptualized from the perspective of the individual consumer. He also asserts that customer-based brand equity (CBBE) occurs when the consumer is familiar with the brand and whilst holding favourable, strong