ADVERTISING STRATEGIES USED BY RED BULL AND THEIR INFLUENCE ON BUSINESS’ CONSUMERS

ADVERTISING STRATEGIES USED BY RED BULL AND THEIR INFLUENCE ON BUSINESS’ CONSUMERS

BA(Hons) Business Management

 
Research Methodology

The methodology, in this case, will include exploratory research that intends to explore the research questions and study a real issue that has not been examined in the past. The current problem is identifying the respective advertising strategies that Red Bull utilizes in product marketing among a diverse range of advertising strategies that most companies use. The study will first identify relevant advertising strategies used in business before singling out those that are exclusive to Red Bull and enable the company to gain a huge customer base and diversify the brand through loyalty from consumers. Thus, the study does not focus on getting conclusive evidence. Instead, it targets a better understanding of the issue and its implications for actual business due to the numerous insights gained throughout the process. Exploring the topic in depths forms the basis for more conclusive research because the goal is to tackle problems that have not received much attention in previous research studies.
The advantages of using an exploratory research approach in the case of Red Bull include maximum flexibility and adaptability to change. Understanding how Red Bull advertises its products and the impacts of such advertising strategies on consumers will consist of a vast range of information and insights into the topic. Thus, a method that guarantees flexibility will effectively facilitate the process and enable the development of better insight (Pickard 2013). Secondly, this type of research will be useful in creating the framework or basis for future studies on the same topic while also presenting the convenience of time- and cost-effectiveness (Hallingberg et al. 2018). However, the potential disadvantages of exploratory research include the fact that qualitative information generated from this method could be challenging to interpret because it could be subject to bias. Again, the results may be less useful in decision making at a practical level, and besides, the small number of samples used may not represent the large population efficiently; thus, generalization may not be accurate (Pickard 2013).
The study will explore general advertising strategies and the advertising strategies used by Red Bull in marketing their energy drink and the effectiveness of such strategies on consumer behaviour. Data collection will incorporate both qualitative and quantitative approaches through the use of open-ended and close-ended questionnaires to collect data (Salvador 2016). Positivism, as research philosophy, in this case, involves the utilization of existing theory sourced from secondary sources to develop hypotheses that will be tested during the study. Positivism is centred on quantifiable observations or surveys that facilitate statistical analyses, which rests on the view that knowledge is a product of human experience (Stumpfegger, n.d.). Consequently, information about Red Bull and the effects of its advertising strategies to consumers will be primarily based on the aspect of human experience and interaction with the company (Chrenkova et al., n.d.).
The primary objectives within the process of data collection include the identification of Red Bull’s advertising strategies, the examination of the effectiveness of such strategy using questionnaire survey data and identifying any research gaps or ethical issues to consider when advertising products. Again, the recommendation of appropriate measures based on the results of the study will be valuable in leading the company to new potential customers and satisfaction of existing customers, thus increasing profits (Boerman et al. 2017).

Data Collection

The study will utilize open-ended and close-ended questions designed to collect both quantitative and qualitative data that can be analysed to provide more concise information on the research topic (Desai and Reimers 2019). Incorporating both types of data will provide a large knowledge pool and diverse ideas that help in making inferences for answering the research questions and proving the hypotheses. The questions will focus on:
• Why is creative advertising essential in product and service marketing? What is the importance of advertising in business?
• How does creative product marketing affect consumer perception of the products?
• What are the common strategies used by companies in advertising their products?
• What advertising strategies does Red Bull utilize, and what is the effectiveness of such strategies?
The Bristol Online Survey tool will be used for data collection with a structure of the questionnaires divided into two sections. The first section will comprise the close-ended questionnaire, while the second segment will entail the open-ended questionnaire (MacQueen et al. 2014). The advantage of using both types is to ensure they complement each other to overcome possible shortcomings (Reiter 2017). The close-ended questions are less likely to effectively collect data on participant feelings, thoughts, views, and attitudes, but the open-ended questions can cover these elements successfully. Open-ended questionnaires grant participants the liberty to give individual responses without being confined to a specific way of responding to questions (Hallingberg et al. 2018). The opportunity to explain their perceptions without any restrictions is a suitable strategy for maintaining the diversity of the research topic and detailed information about a specific topic. The questions will be emailed to the survey participants following a drop and pick technique.

Research Participants

The study will utilize a sample of 150 participants who are students from Perth College in Perth, Scotland. They will first be selected at random from the college mailing list after getting access to the list from the UHI Student Records Office. A request to use the Bristol online survey will be placed to the PC helpdesk with specifications that will be used for research purposes only. Next, they will be chosen based on willingness to participate in the research at will without being forced, tricked, or coerced to participate. Before the commencement of the study, the respondents will be given detailed information about the study, its objectives, the benefits, and any potential risks. Once they get a clear understanding of the nature of the study, they will be allowed to give informed consent and participate in the study. The confidentiality of any personal information about the respondents will be maintained.

Data Analysis

Once the data is collected from respondents, Excel will be used for data analysis. The data are likely to be collected in an unstructured form that cannot be used in making appropriate inferences; hence, coding will be done to categorize responses into various subgroups. Statistical analysis methods of pie charts, bar graphs, and a frequency distribution table will be used to organize the qualitative data into usable forms. The close-ended questionnaire will be presented in these forms to present information in a way that can deduce trends, identify valuable patterns, and present a framework to use for identifying the results of exploratory research (Reiter 2017). For the quantitative data collected using open-ended questionnaires, the diverse data pool cannot be organized into pie charts or bar graphs due to overlapping. Thus, theme coding will be used as the primary analytic tool for the data. First, the data will be cross-examined to identify any possibility of similar data categories then once any repeating themes are identified. They will be coded and analysed to provide reliable responses on advertising strategies, the strategies used by Red Bull, and their impacts on consumers.

Research Gaps and Ethical Issues

While the data collected will target identifying an existing problem and developing a vast knowledge about the topic, the data collected from participants may not be reliable enough to make conclusions. The topic of marketing and advertising strategies differ within various companies, and diversity has not been considered within previous research studies to identify distinct organizations with specific advertising strategies (Samson 2013). Another research gap is that since the method used is exploratory, it fails to provide data that can be utilized efficiently in making valid conclusions. Therefore, future research could target a detailed approach to understanding how various companies advertise their products and services and the effect they have on consumers (Shakib 2013).
Similarly, the data collected from participants about Red Bull cannot be relied upon in making conclusions regarding the company because from the inferences made, most respondents may be aware of the advertising strategy that Red Bull uses, but they may be less familiar with the impact of such strategies to consumers. Understanding the effects of such strategies requires the use of a more accurate method of data collection to source a broad data range that can be used in making valid conclusions (Stumpfegger, n.d.). Some ethical issues to consider during the research include informed consent, the confidentiality of respondent private information, and ensuring the study does not inflict any harm to the respondents or expose them to any form of harm (Pickard 2013). Also, for companies using various advertising strategies, they should ensure ethical conduct by avoiding any discriminatory messages that may depict a negative perception of certain groups. Similarly, advertisement messages should not be deceptive but instead, should align with the company’s products.

Conclusion

Finally, based on the results of the study, specific appropriate measures could be recommended due to their importance in leading Red Bull Company to the acquisition of new potential customers and satisfaction of existing customers, hence increasing profits. Red Bull has a broad consumer base because its advertising strategies target all populations and groups. Again, the message that the company aims to put across in advertising ensures a particular mantra that consumers can stick to and refer to as an association with the company. Thus, the research methodology utilized in the study will be useful in answering the research question by identifying various advertising strategies and those applied by Red Bull.

 
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