Who is able to complete this assignment?

Product Branding [WLO: 1] [CLOs: 1, 2, 3]

Part 1:

· 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 explains each example.

Part 2:

· Choose a country in Asia (e.g., Japan) and a country in South America (e.g., Brazil) where the mentor company you identified in your  Week 2 - Global Marketing Plan Part 1  assignment currently has a presence.

· Explain what similarities and differences you see in the product and/or brand between the two countries using Maslow’s hierarchy of needs, cultural perceptions, and strategic alternatives in global marketing.Not all of the companies have a branch in those regions. In that case, discuss the implications of moving to an Asian county and/or a South American country should your mentor marketer decides to expand there using Maslow’s hierarchy of needs, cultural perceptions, and strategic alternatives in global marketing.

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.

Part 1: Red Bull

Red Bull presents an image of energy, boldness, movement and adrenaline. Brand equity of a product is based on the customers’ awareness concerning it that makes them have certain peculiar, favorable and great products brand relations in remembrance (Stocchi & Fuller, 2017). The Red Bull’s brand equity is shown in its price, brand design, positioning, and packaging. In its pricing, Red Bull uses premium pricing strategy that makes the price different from that of soda and coffee thus making it stand out among the rest. Red Bull’s positioning is the most influential part of the brand’s equity.

The word’s “revitalizes the mind and body” that are associated with Red bull are extremely enticing because all people require mind and body revitalization every day. Another distinctive part of Red Bull is its attributes. On packaging and brand design, Red Bull is packaged in two hundred and fifty millilitres blue and silver can. The two fighting bulls on the can indicate the vigor and energy from the drink and the phrase ‘energy drink’ summarizes it all. Red Bull’s global marketing is mostly based on extreme sports and events of excitement and movement (Brito, 2019).

This is the most influential strategy especially because athletes seem potent and triumphant. Disney has implemented a host of brand extensions and co-brandings. Firstly, it has co-branded with Dole; urges a healthy lifestyle for children through their best characters in advertising their brand and at the same time enable them to get to their health goals. Secondly, Disney Co-branded with Chase to develop debit cards for customers to do card purchases (Fischer, 2016). Thirdly, Disney Co-branded with Nike through hats with Disney logo. Fourthly, Disney Co-brands with Starbucks where there are coffee mugs with Disney park photos and Starbucks logo. Last but not the least, Disney and Dooney & bourke co-branded to produce and sale purses. 

Part 2

Corporate organizations evolve to stay competitive in the market. Advances in technology, globalization's impacts, and population have caused some businesses to extend their activities to mature markets, while others have opted to do so with internal needs. Samsung products in South Korea and France have offered products that prefer the people within these countries. They have provided gadgets with the required network that is adaptable in both of these countries. They have also maintained a similar brand logo in both of the nations. However, there are different strategies of marketing that have been used in the two countries. In South Korea, advertising of the products has performed effectively. In France, the company included promotions in the sale of products that contributed much to retain its popularity in the market.

The mentor marketers should expand this to develop a robust marketing plan that will meet all the needs of the consumers. They should access the current marketing situation and still analyze the company's needs and goals, thus creating success in the future. They can expand on the marketing systems that will serve people by meeting what they need, such as the product's quality, for a long time. The mentor marketer should also consider the people's livelihood and their beliefs in these countries in expanding the brand products (Green & Keegan 2020).

Mentor marketers of the company should also seek the market penetration of their brands in these countries to deal with their competitors. One should compare the price of their products with that of others within the markets to expose these countries' cultural perceptions. This will make the brand products acceptable within the needs and maintain its effective generation of more products.

References

Brito, D. C. (2019). Sports sponsorship and the impact on a brand's purchasing intention and recommendation: Red Bull, more than wings (Doctoral dissertation).

Fischer, E. (2016). When For-Profit Companies Evaluate Potential Nonprofit Partners Focused on Youth Development, what is the Role of Symbolic Brand Association in that Evaluation?.

Green, M. C., & Keegan, W. J. (2020). Global marketing. Pearson Education Limited.

Stocchi, L., & Fuller, R. (2017). A comparison of brand equity strength across consumer segments and markets. Journal of Product & Brand Management.

(2021). Retrieved 24 March 2021, from  https://www.forbes.com/the-worlds-most-valuable-            brands/#7e1b831e119c (Links to an external site.)