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Red Bull continues to push marketing boundaries with its Stratos event
The Red Bull Stratos event is another indicator that Red Bull is a company that continues to change the way modern marketing and advertising is implemented, with its unique cultural and sporting sponsorship. The benefits to the company for funding such an event are likely to outweigh the amount invested in the project, as has been seen with some of Red Bull’s other investments (such as the Formula One racing team) and may similarly lead to a spike in revenues.
On Sunday October 14th, after some nervous waiting, the Red Bull Stratos project was successfully completed. Felix Baumgartner plummeted from a hot air balloon high in the stratosphere faster than the speed of sound (from a height of 128,100) metres and landed safely to break a number of world records in one attempt. The jump could be streamed live on a specially created website that featured an embedded You Tube platform and viewers could watch as Baumgartner stepped forward and leaped from the balloons pod in full Red Bull livery and then released his parachute emblazoned in with the Red Bull logo.
In terms of risk, the Stratos event could have been hugely damaging for the company if something had gone wrong, for instance, experts commenting on the event suggested that ultimately there was no definitive way of ensuring the safety and if any equipment failed during the jump Baumgartner could be killed. But despite this, Red Bull has shown that it is willing to take risks in order to stay ahead of the competition and add to its already robust reputation as a sponsor of extreme events that wouldn’t be possible without its support.
The hugely ambitious project, bankrolled by Red Bull, has produced a media storm with millions of people tuning in to watch the jump live and a hive of activity and chatter on social media sites, under hash tags such as #Stratos, #RedBull and #Baumgartner. All this activity serves to increase Red Bull’s international presence and recognition. Before the Red Bull Stratos event, Red Bull was already listed as number 80 in the top one hundred brands in the world in Millward Brown’s index, but after the event is likely to continue to rise in the rankings.
Red Bull is a unique company in that its main marketing and advertising efforts are pushed into sporting and cultural events such as: buying football teams, running record labels, running radio stations, holding music festivals and organising expensive Formula One and World Rally racing teams are just a few of the extensive activities that the company runs in order to get its brand, noticed and attract consumer good will. The brand has been so extensively linked with the positive events in which it invests, that its products have not needed to be hard sold or heavily discounted, and so the company remains as the market leader continuing to record higher sale volumes than its competitors.
For more information on Red Bull’s unique marketing methods head here