Red Bull is a big company that most of us know as an energy drink because it did a lot of advertising in this field, but Red Bull is a very big company that has many businesses. Red Bull is even active in football and manages several teams in several countries. Red Bull even organizes big concerts and is active in music. What is the secret of the success of this big company?
What made Red Bull so successful?
- Thread starter Bango
- Start date
It's been there for so long. One thing that can be attributed to it's grand success is it being a pioneer in the field. When it came up as energy drink, the concept of energy drink was very new to the world. And so people felt curious to try. And their advertisement was tempting. This made them tap the market so well in their favour.
Red bull spent a lot in advertisements just like Coca-Cola. It is known globally. Apart from that, it also maintains quality standards which is the bedrock of successful organizations. Red bull also diversifying into series of productions. Finally, its social responsibility endeared it with its host countries to promote mutual relationship.
I think as a pioneer in the field, it enjoyed a period of monopoly. And within that period, they had gained a significant market share and it became increasingly difficult for new entrants to withstand.
The first name that pops up the mind when one thinks of energy drink is Red Bull. That's how it has established as a brand. And the credit goes to intensive and effective marketing. Also, they maintained the quality and didn't loose their customers.
You are right. In my country, there are some energy drinks popped out recently. However, Red Bull is still the leading among them. They cannot defeat it because of its high customer-based.
When a brand is consistent, it would achieve success. You won't tell me that Red Bull did not have tough times in their growth process which would have made them to stop the business. They are a brand today because they never gave up.
You are right. It is one of the companies that have some constraints during the startup period. I am sure they had tried their best to overcome these things. It is a part of growing in business.
Consistency is one thing that would stand you out in business. Young entrepreneurs give up too quickly and that's why they don't have this kind of legacy.
They had a very good product and they knew how to market and promote their brand very well. It helped them to grow.
