How to brand your product and make a billion dollars or more
The trend in marketing is brand marketing or social marketing.
This weekend I attended a social marketing event beyond your imagination.
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The marketing people behind this event are shrewd and intelligent people who know how to reach their target market.
Let me be clear. I do not consume the product. I believe it is not healthy for your body.
Still there are many lessons to be learned if you want to use brand marketing to promote your products and services.
This product is the mastermind of Dietrich Mateschitz, an Austrian entrepreneur.
He was the international marketing director for Blendax, a German toothpaste company.
Between 1984 and 1987, Mateschitz worked with TC Pharmaceutical (a Blendax licensee) to adapt Krating Daeng, a cure for jet lag, for the European market.
After acquiring sales and marketing experience, he founded Red Bull GmbH with Chaleo Yoovidhya.
They both invested $500,000 of savings to take a 49% stake in the new company.
They gave the remaining 2% to Chaleo's son Chalerm, but it was agreed that Mateschitz would run the company.
Red Bull GmbH launched the Red Bull in 1987 which is a carbonated high energy drink.
Imagine Red Bull entered its first foreign market (Hungary) in 1992, and the United States (via California) in 1997.
Red Bull has taken almost half of the US market for energy drinks, and up to 80% of the market in some other countries.
In 2006, Forbes Magazine listed Chaleo as being the 292nd richest person in the world with an estimated net worth of over $2.5 billion while Mateschitz was listed at number 317.
Red Bull has an aggressive, multi-angle, and international brand marketing campaign. For example Red Bull GmbH sponsors many activities from extreme sports like windsurfing, snowboarding, cliff-diving, surfing, formula 1 race cars, and break dancing to art shows, music, and video games (the Sony PlayStation futuristic racing game Wipeout 2097)... and other such contests, designed to amuse participants and observers
The event I attended over the weekend was the "Red Bull Flugtag" (German for "flight day" or "flying day").
Red Bull is also sponsoring a football team of Salzburg and included their company name into Salzburg's club name. By associating the drink's image with these activities, the company has created a very marketable "cool" image with tremendous brand power.
In addition, the sleek, thin, sharp packaging creates a "sexier" image than some other cola counterparts. Hence, this one energy drink has created a market for over 150 related types of merchandise, like Red Rooster (drink) and Blue lightning.
Even with all of the concerns regarding Red Bull, in 2000 the corporation earned around $1 billion in worldwide sales and Red Bull held 65% of the market share.
There were over 40,000 people who attended this free "flug tag" promotional event for Red Bull and... everybody was smiling.
Watch the video on the Red Bull flugtag event and see for yourself how they market their product to the right crowd.
The buildings you see in the background are my hometown's Parliament buildings. That's where our politicians make my country, Canada, the beautiful land it is.
Just Imagine Your Success,