Revised Mid Term - Chaisarn, Yodchai
History
Dietrich Mateschitz, an Austrian entrepreneur, founded Red Bull in 1987 and today it is the world’s most popular energy drink brand. The beverage was inspired by Mateschitz’s trip to Thailand where he discovered a local drink by the name Krating Daeng, and he decided to team with the Thai brand and distribute his version of the beverage in Europe, believing that it would sell and become a successful brand. Mateschitz, an innovative marketing specialist, believes in the idea of always having fun, and this translates into all of the company’s marketing moves, such as hosting their one-of-a-kind annual air races and advertising Red Bull through humorous, memorable adult cartoons on television. He is also able to create a fun, vibrant culture for Red Bull employees, mostly comprised of young, like-minded individuals who just graduated from undergraduate college. The company instills the notion of fun in all business activities, from flying out potential employees to Detroit for work training to installing slides in their headquarters to make sure that employees get to their meetings in time and in style.
Red Bull’s strategy in entering the market is to use word-of-mouth and consumers’ recommendations. Rather than opting immediately to have the brand sold in large supermarkets and retail chains, the company selected specific clubs, bars and stores to introduce the drink, allowing the trendy, influential group of people to be the first ones to sample the product, and hoping that they would endorse the drink and tell everyone else in their network about Red Bull. The exclusiveness of the product intrigued general consumers and as a result they began trying Red Bull drink.
Currently the company is continuing to grow in their sales and solidify their brand as the number one energy drink in the world. However, other companies have emerged and entered the energy drink market with their own unique products, and as a result the gap between Red
Dietrich Mateschitz, an Austrian entrepreneur, founded Red Bull in 1987 and today it is the world’s most popular energy drink brand. The beverage was inspired by Mateschitz’s trip to Thailand where he discovered a local drink by the name Krating Daeng, and he decided to team with the Thai brand and distribute his version of the beverage in Europe, believing that it would sell and become a successful brand. Mateschitz, an innovative marketing specialist, believes in the idea of always having fun, and this translates into all of the company’s marketing moves, such as hosting their one-of-a-kind annual air races and advertising Red Bull through humorous, memorable adult cartoons on television. He is also able to create a fun, vibrant culture for Red Bull employees, mostly comprised of young, like-minded individuals who just graduated from undergraduate college. The company instills the notion of fun in all business activities, from flying out potential employees to Detroit for work training to installing slides in their headquarters to make sure that employees get to their meetings in time and in style.
Red Bull’s strategy in entering the market is to use word-of-mouth and consumers’ recommendations. Rather than opting immediately to have the brand sold in large supermarkets and retail chains, the company selected specific clubs, bars and stores to introduce the drink, allowing the trendy, influential group of people to be the first ones to sample the product, and hoping that they would endorse the drink and tell everyone else in their network about Red Bull. The exclusiveness of the product intrigued general consumers and as a result they began trying Red Bull drink.
Currently the company is continuing to grow in their sales and solidify their brand as the number one energy drink in the world. However, other companies have emerged and entered the energy drink market with their own unique products, and as a result the gap between Red