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Bullish about your brand

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John Pratt
John Pratt

If you want to understand success in social media marketing look no further than the extraordinary success of Red Bull

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1 Monday, 15 April 13 Copyright John Pratt 2013
Brand value is the price premium that consumers are prepared to pay for a branded product in preference to a functional equivalent, generic, or otherwise competitive product. Photo: John Pratt 2 Monday, 15 April 13 Copyright John Pratt 2013
The purchase of a premium- branded product may not be a rational choice ... but one that appeals to consumer vanity, cultural or social values. 3 Monday, 15 April 13 Copyright John Pratt 2013
Brand values are all R E V I E W readily addressed by social media T R E N D D P P E S U P P O R T R A S S O C I A T I O N O I S C A R C I T Y F G T I N P R I C E L E O E N D O R S E M E N T 4 Monday, 15 April 13 Copyright John Pratt 2013
AIL ED F The market research results are devastating. The thin color of the new drink is totally unappetizing, the sticky mouth feel and taste deemed ‘disgusting’, the product concept rated irrelevant. The verdict of the research firm: ‘No other new product has ever failed this convincingly.’ 5 Monday, 15 April 13 Copyright John Pratt 2013
Brand News April 2013 Red Bull Media Produces Content For Radio, TV, Internet, Magazines, Games, Mobile Applications The Red Bulletin is published monthly in 5 languages and distributed Internationally. Initially offered sporadically as a ‘freebie,’ now subscription revenues are rising fast as the magazine’s reputation for quality and interactive content continues to grow. Current circulation is 2.7 million copies published every month. 6 Monday, 15 April 13 Copyright John Pratt 2013
Brand News April 2013 Felix Baumgartner Cracks Open The Sound Barrier More than 8 million people watched Felix Baumgartner leap 39 km from the edge of space to land in Roswell, New Mexico and claim 4 new World Records, including the first person to break the sound barrier at Mach 1.24. 37,328,305 registered fans Worldwide, and growing fast 382,106 fans ‘talking about’ Red Bull this week Now Three Consecutive F1 Titles For Red Bull Racing The Red Bull F1 franchise is now second only to Ferrari in terms of it’s value, having won three straight F1 Constructors Championships in addition to it’s 3 Driver’s World Championships. 7 Monday, 15 April 13 Copyright John Pratt 2013
Most Most Expensive Valuable 8 Monday, 15 April 13 Copyright John Pratt 2013
The Word From The Top Red Bull in the words of CEO Dietrich Mateschitz Authenticity "It is a must to believe in one's product. If this were just a marketing gimmick, it would never work." Strategy "When we first started, we said there is no existing market for Red Bull, but Red Bull will create it. And this is what finally became true ... we created the market. If you appreciate the product, you want the real one, the original.” 9 Monday, 15 April 13 Copyright John Pratt 2013
The Word From The Top Red Bull in the words of CEO Dietrich Mateschitz Differentiation Mateschitz says he didn't care about the taste issue then, and he doesn't care about it now. "It's not just another flavored sugar water differentiated by color or taste or flavor," he says. "It's an efficiency product. I'm talking about improving endurance, concentration, reaction time, speed, vigilance, and emotional status. Taste is of no importance whatsoever ... if we'd only had a 15 percent price premium, we'd merely be a premium brand among soft drinks, and not a different category altogether." 10 Monday, 15 April 13 Copyright John Pratt 2013
The Word From The Top Red Bull in the words of CEO Dietrich Mateschitz Engagement "In the beginning, the high-school teachers who were against the product were at least as important as the students who were for it. Newspapers asked, 'Is it a drug? Is it harmless? Is it dangerous?' That ambivalence is so important. The most dangerous thing for a branded product is low interest. ... it was a part of the strategy from the beginning. We would make the brand interesting enough that people wanted to get their hands on it." 11 Monday, 15 April 13 Copyright John Pratt 2013

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Bullish about your brand

  • 1. 1 Monday, 15 April 13 Copyright John Pratt 2013
  • 2. Brand value is the price premium that consumers are prepared to pay for a branded product in preference to a functional equivalent, generic, or otherwise competitive product. Photo: John Pratt 2 Monday, 15 April 13 Copyright John Pratt 2013
  • 3. The purchase of a premium- branded product may not be a rational choice ... but one that appeals to consumer vanity, cultural or social values. 3 Monday, 15 April 13 Copyright John Pratt 2013
  • 4. Brand values are all R E V I E W readily addressed by social media T R E N D D P P E S U P P O R T R A S S O C I A T I O N O I S C A R C I T Y F G T I N P R I C E L E O E N D O R S E M E N T 4 Monday, 15 April 13 Copyright John Pratt 2013
  • 5. AIL ED F The market research results are devastating. The thin color of the new drink is totally unappetizing, the sticky mouth feel and taste deemed ‘disgusting’, the product concept rated irrelevant. The verdict of the research firm: ‘No other new product has ever failed this convincingly.’ 5 Monday, 15 April 13 Copyright John Pratt 2013
  • 6. Brand News April 2013 Red Bull Media Produces Content For Radio, TV, Internet, Magazines, Games, Mobile Applications The Red Bulletin is published monthly in 5 languages and distributed Internationally. Initially offered sporadically as a ‘freebie,’ now subscription revenues are rising fast as the magazine’s reputation for quality and interactive content continues to grow. Current circulation is 2.7 million copies published every month. 6 Monday, 15 April 13 Copyright John Pratt 2013
  • 7. Brand News April 2013 Felix Baumgartner Cracks Open The Sound Barrier More than 8 million people watched Felix Baumgartner leap 39 km from the edge of space to land in Roswell, New Mexico and claim 4 new World Records, including the first person to break the sound barrier at Mach 1.24. 37,328,305 registered fans Worldwide, and growing fast 382,106 fans ‘talking about’ Red Bull this week Now Three Consecutive F1 Titles For Red Bull Racing The Red Bull F1 franchise is now second only to Ferrari in terms of it’s value, having won three straight F1 Constructors Championships in addition to it’s 3 Driver’s World Championships. 7 Monday, 15 April 13 Copyright John Pratt 2013
  • 8. Most Most Expensive Valuable 8 Monday, 15 April 13 Copyright John Pratt 2013
  • 9. The Word From The Top Red Bull in the words of CEO Dietrich Mateschitz Authenticity "It is a must to believe in one's product. If this were just a marketing gimmick, it would never work." Strategy "When we first started, we said there is no existing market for Red Bull, but Red Bull will create it. And this is what finally became true ... we created the market. If you appreciate the product, you want the real one, the original.” 9 Monday, 15 April 13 Copyright John Pratt 2013
  • 10. The Word From The Top Red Bull in the words of CEO Dietrich Mateschitz Differentiation Mateschitz says he didn't care about the taste issue then, and he doesn't care about it now. "It's not just another flavored sugar water differentiated by color or taste or flavor," he says. "It's an efficiency product. I'm talking about improving endurance, concentration, reaction time, speed, vigilance, and emotional status. Taste is of no importance whatsoever ... if we'd only had a 15 percent price premium, we'd merely be a premium brand among soft drinks, and not a different category altogether." 10 Monday, 15 April 13 Copyright John Pratt 2013
  • 11. The Word From The Top Red Bull in the words of CEO Dietrich Mateschitz Engagement "In the beginning, the high-school teachers who were against the product were at least as important as the students who were for it. Newspapers asked, 'Is it a drug? Is it harmless? Is it dangerous?' That ambivalence is so important. The most dangerous thing for a branded product is low interest. ... it was a part of the strategy from the beginning. We would make the brand interesting enough that people wanted to get their hands on it." 11 Monday, 15 April 13 Copyright John Pratt 2013