Year 12 IB Extended Essays 2018

4 Conclusion

Red Bull and Dare have both shown to have extremely successful marketing campaigns that have seen

them both gain the highest market share in their individual markets. Red Bull has created an iconic

lifestyle brand using a content marketing strategy that has focused on increasing brand recognition and

reputation instead of its product. Dare, unlike Red Bull has focused on its product and its effects,

marketing a habitual loop to consumers, ‘when you’re not thinking straight, a dare fix’ll fix it.’ This

habitual loop leads to loyal customers, who will grow the company’s market share. The companies

have focused these strategies towards different target markets by using segmentation. Red Bull has

used psychographic segmentation as a means to target thrill seekers who would align with the

company’s culture of extreme sports. By targeting this market Red Bull has gained a loyal customer

base who are attracted to the company thrill seeker brand image. Dare uses demographic segmentation

to focus its marketing towards blue collar workers. This is effective as they are most likely to be

affected by Dare’s habitual loop, as the jobs of blue collar workers are often repetitive and tiring,

causing ‘not thinking straight’ moments.

The peer review survey, conducted on fellow students, and limited by a pool size of 28, shows that Red

Bull and Dare are clear favourites, in both value for money and popularity. While this is an indicator of

the effects the companies marketing strategies have had on teenagers, the limited pool size as well as

limited demographic surveyed does mean that the survey is not highly accurate, and thus a larger

survey would be required to draw more significant evidence.

Red Bull and Dare both have a strong brand recognition which they are able to use to encourage new

customers as well as maintain their current customer base. Both companies have a limited product line

but have implemented ‘limited edition flavours’ to supplement their usual product lines. As both

products contain caffeine, they also face threats from health critics. Dare has tried to combat this with

the introduction of their ‘Raw’ line which aims to look more ‘natural’ and healthy compared to its

original line, meaning customers who would have originally avoided their product are likely to be more

inclined to purchase a healthier option, broadening their target audience and increasing market share.

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