Wednesday, July 20, 2016

Ch. 1 - Overview of Marketing (Brief History and Mission Statement)

 
Inspired by an energy drink called Krating Daeng during a business trip to Thailand, Austrian entrepreneur Dietrich Mateschitz developed the formula and concept of Red Bull in the mid 1980’s. The drink was first sold in Dietrich’s home market of Austria, blowing a new product category wide open for the rest of the world as it steadily made its way through a majority of Europe, before reaching the US in 1997. Fast forward to 2016 and Red Bull is now sold in more than 169 countries with approximately 60 billion cans having been consumed worldwide. The company slogan is “Red Bull Gives You Wings” – with the product historically being perceived as targeting young men with advertising and sponsorships that include a host of male dominated extreme sports.

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