Wk 4 Discussion Forum 1

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University Of Arizona *

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Marketing

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Feb 20, 2024

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Product Branding Prior to beginning work on this discussion, review Chapter 10: Brand and Product Decisions in Global Marketing, look through Forbes’ list of The World’s Most Valuable Brands Links to an external site. , and watch The Billionaire Behind the Space Jump Links to an external site. video. It is also recommended that you review the Red Bull Links to an external site. website. There are a number of factors that can help a company build its product brand. Considerations in building a brand will require an understanding of both product concepts and branding concepts. Both Red Bull and Disney are among the many listed brands you will find in The World’s Most Valuable Brands Links to an external site. list. In your initial post, address the following: ● Explain the concept of brand image and brand equity for Red Bull. ● Explain why Red Bull’s global marketing activities are so heavily invested around extreme sports and events that are associated with excitement and movement. ● Identify at least five examples of brand extensions and co-brandings that Disney has implemented besides Disney Parks. Briefly explain each example. Your initial discussion post should be 250 words. Cite your textbook and any other sources used to support your ideas. You may refer to University of Arizona Global Campus Writing Center’s APA Style Links to an external site. resource for assistance.

References Brand Image brand image is defined as perceptions about a brand as reflected by brand associations that consumers hold in their memories (Green & Keegan, 2020). Brand Equity Another important brand concept is brand equity, which represents the total value that accrues to a product as a result of a company’s cumulative investments in the marketing of the brand (Green & Keegan, 2020). Brand equity can also be thought of as an asset representing the value created by the relationship between the brand and its customers over time: The stronger the relationship, the greater the equity (Green & Keegan, 2020). Co-Branding Co-branding is a variation on combination branding in which two or more different company or product brands are featured prominently on product packaging or in advertising. Brand Extensions This strategy entails using an established brand name as an umbrella when entering new businesses or developing new product lines that represent new categories to the company. IvyPanda. (2020, May 20). Red Bull-Building Brand Equity in Non-Traditional Ways. https://ivypanda.com/essays/red-bull-building-brand-equity-in-non-traditional-ways/ The kind of extremely passionate but triumphant athletes and sports persons who are linked with the Red-Bull brand tend to correspond to ‘Red-Bull offers you wings’ watchword which further adds to strong brand equity building. Red Bull “gives you wings" is the catchphrase that comes to mind whenever there is an encounter with anything relating to Red Bull. That is a common sentiment that not only North Americans share but people all across the globe. Green and Keegan states that brand image is understood to be consumer perceptions of a company as reflected by brand associations they have in their minds(2020). The Red Bull logo is very symbolic, the red bull symbolizes passion and the blue background signifies strength, the combination of those two image representations creates a brand that will continue to shine in the hearts and minds of their customers. “Brand equity can also be thought of as an asset representing the value created by the relationship between the brand and its customers over time: The stronger the relationship, the greater the equity” (Green & Keegan, 2020). As a result, Red Bull has developed brand equity

over the years by sponsoring sporting events, targeting elite athletes and maintaining a strong presence among the younger generation. Targeting the young people who love being active, whether its sports, dancing or just plain thrill seeking, Red Bull continues to promote a global atmosphere of excitement. The ultimate energy drink Red Bull sponsors many sporting events worldwide and that attracts the majority of young people who are avid believers that Red Bull gives you wings. “The kind of extremely passionate but triumphant athletes and sports persons who are linked with the Red-Bull brand tend to correspond to ‘Red-Bull offers you wings’ watchword which further adds to strong brand equity building” (IvyPanda, 2020). Co-branding is a variation on combination branding in which two or more different company or product brands are featured prominently on product packaging or in advertising. While brand extension is the strategy that entails using an established brand name as an umbrella when entering new businesses or developing new product lines that represent new categories to the company. Disney has used both of these strategies to help grow their brand, they teamed up with Dole foods to provide fruits, vegetables and beverages for families to have a healthier choice of foods at their theme parks and at their local grocery stores. Another collaboration between Disney and Starbucks created ceramic mugs that had Disney park pictures and the Starbucks logos printed on them. Next, Disney and Dooney and Bourke joined their brands to make handbags and purses for customers across the world. Another venture between Disney and Chase Bank allowed Chase customers to shop with their debit cards that were designed with disney characters. Finally Disney teamed up with Nike to make hats that had both Disney and Nike logos on them. References: Green, M. C., & Keegan, W. J. (2020). Global marketing (10th ed.) . Pearson. IvyPanda. (2020, May 20). Red Bull-Building Brand Equity in Non-Traditional Ways. https://ivypanda.com/essays/red-bull-building-brand-equity-in-non-traditional-ways/

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Wk 4 Discussion Forum 1

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