Saturday, December 28, 2019

The Importance Of Cultural Awareness Essay - 1426 Words

The Importance of Cultural Awareness Introduction Recently, one of my mother’s colleagues lost her father. The deceased lived in one of the urban areas of Nairobi and the family of the colleague saw it fit to bury their loved one the weekend after he passed. To them, this was an appropriate decision as any delays would rack up higher bills for the family and would be a waste of time. However, the extended paternal family of the deceased, who lived in rural areas, would hear none of it. It was their custom to mourn before burying their dead and would carry out this period as long as necessary. To them, a burial occurring soon after death implied there was something wrong with the deceased and that the family wanted to get it out of the way as soon as possible. Cross cultural misunderstanding created complications in the process and the colleagues’ family eventually had to concede to appease the other. According to the Merriam-Webster Dictionary culture is â€Å"the customary beliefs, social forms, and material traits of a racial, religious, or social group† or â€Å"the beliefs, customs, arts, etc., of a particular society, group, place, or time.† It can even be the manner in which a person processes information, acts or labors that governs an area or organization, like a school. (Culture [Def. 2]., n.d.) A culture is formed by a group of people handing down their mannerisms, way of life, food, art and language to their successors. Culture will both directly and indirectly affect theShow MoreRelatedImportance Of Cultural Awareness799 Words   |  4 PagesCultural Awareness is the ability to accept and recognize the different beliefs, values and customs that people have based on their origins. Having this awareness is extremely beneficial and important. There are several benefits involved with cultural awareness. Cultural Awareness allows a person to build much more successful professional and personal relationships in such a diverse environment and society. This is important because it allows people to reach their at-most potential in life. I thinkRead MoreThe Importance Of Cross Cultural Awareness834 Words   |  4 PagesThe Importance of Cross-Cultural Awareness Introduction Large corporations as well as small businesses can reap the benefits of expanding operations into overseas markets. The overseas expansion process does take time and requires careful planning. Cross-cultural differences need to be examines as the may require you to alter your business processes (Joseph, 2015). Cultural differences must be researched and rehearsed to successfully conduct business overseas. I have served the past 26 years inRead MoreAn Alaysis of the Importance of Cross Cultural Awareness for Managers Working in the Banking Industry in Saudi Arabia2462 Words   |  10 PagesGLOBALISATION AN ALAYSIS OF THE IMPORTANCE OF CROSS CULTURAL AWARENESS FOR MANAGERS WORKING IN THE BANKING INDUSTRY IN SAUDI ARABIA Rashed Alzhrany Due Date: 07/ 01 / 2013 Abstract introduction Now days, the world becomes a one village. Although, there are different kinds of management styles and cultures impact on business management in the world, employees needs to increase their awareness to achieve the organisationRead MoreCultural Self Awareness And Cultural Intelligence1024 Words   |  5 PagesCultural self-awareness is strongly linked to development of a cultural intelligence for a number of reasons. Thus, this essay will critically reflect on what cultural self-awareness is and its importance on how it develops ones cultural intelligence. Before we discuss about cultural self-awareness and cultural intelligence, it is important to understand what culture is and how it impacts on our society. Culture is a complex subject that can be defined in various ways. Spencer-Oatey (2012) suggestedRead MoreA Reflective Report on Interpersonal Management1150 Words   |  5 Pages13030219 Words: 1046 December 26th 2014 The purposes of this essay is to analyse the improtances of Interpersonal management skills for successful management, and to reflect on a verbal interpersonal cultural based difference people have personally experienced and how develop the cross cultural awareness for more effective management. Interpersonal management skills for successful management In the last decade, with the fast development of the business in the world, the interpersonal management skillsRead MoreMulticultural Awareness As A Clinical Mental Health Counselor965 Words   |  4 PagesJournal: Multicultural Awareness This paper will introduce and define the need for Multicultural awareness as a clinical mental health counselor. It will further explore examples of various topics in Multicultural counseling such as: Racial and ethnic diversity, gender and social economic status. As a result of this research, in Multicultural awareness, the self-assessment rendered the identity of myself. It allowed me to realize what and who I was as â€Å"other.† In realizing who I was as â€Å"other†, IRead MoreThe Factors That Necessitate And Influence The Teaching Of Culture851 Words   |  4 Pagesthe importance of culture, however, it’s presence in the curriculum remains sparse for a number of reasons including â€Å"lack of time, uncertainty about which aspects of culture to teach, and the lack of practical techniques† (Mao, p. 144). Additionally, the majority of language proficiency tests that score and identify students’ abilities are mainly testing for mechanical knowle dge and examinees’ skills at sitting for tests, leaving cultural knowledge untouched. The shift in interest in cultural knowledgeRead MoreThe Importance Of Cultural Competency On A Healthcare Organization1021 Words   |  5 PagesImportance of Culture Competency in a Healthcare Organization The information in this paper is based on interviews from two executives, research, and personal experiences. Further it will define cultural competency and provide the viewpoints from two executive level employees on the importance of developing a culturally competent environment for their patients and staff in the healthcare setting. Cultural competency from the health care perspective is defined according to † (Betancourt, J.R.Read MoreStudents Are Not Entering The Classroom With The Knowledge And Understanding Of Multicultural Education762 Words   |  4 Pagesentering the classroom with the knowledge and understanding of the importance of multicultural literature. The students are suffering due to the lack of diverse reading literature incorporated into units of reading study. There is a need for staff developments and in-services to help educate teachers on ways to provide multicultural literacy awareness in primary schools. Objectives †¢ To heightening the awareness of the importance of multicultural literature in early grades. †¢ To prepare educatorsRead MoreHeightening Awareness On The Importance Of Using Multicultural Literature974 Words   |  4 PagesHEIGHTENING AWARENESS ABOUT THE IMPORTANCE OF USING MULTICULTURAL LITERATURE Heightening Awareness about the Importance of Using Multicultural Literature In their paper, Heightening Awareness about the Importance of Using Multicultural Literature, the authors, Susan A. Colby and Anna F. Lyon, express the importance how teachers should create an awareness on the importance of multicultural literature in today’s classrooms, and how the role of literature of this type plays an important role in the

Friday, December 20, 2019

Eating Disorders Essay - 1087 Words

Eating Disorders One of the most prevalent disorders amongst the youth of this era is eating disorders. While some overlook it and don’t think it is a problem eating disorders should be given serious consideration. This is because the psychological ramification of eating disorders tends to have lasting effects over the course of the adolescents’ life. An eating disorder is any of various psychological disorders, such as anorexia nervosa or bulimia, which involves insufficient or excessive food intake. They are a silent epidemic and a exceedingly negative response to a misinterpretation of one’s role in the world. Adolescents with eating disorders are usually convinced they’re ugly, worthless, and untalented. While some†¦show more content†¦Also, feeling that the only thing they can control in their lives is the food that they eat especially if they have very controlling parents, or boyfriends. Finally, models, teen idols, and movie stars are role models for m ost teenagers, and the popular look is thin or the most recent description is called the lollypop look. This is a major part of it because adolescents tend to compare themselves to these role models and are taught that sexy is thin and this is the way to be noticed. The major source of this is through television, movies and magazines. Bulimia, on the other hand, is characterized by massive food binges followed by self-induced vomiting or use of diuretics and laxatives to avoid weight gain. The word bulimia comes from the two Greek words, bous meaning cow and limos meaning hunger. Unlike anorexics, bulimics come from all economic levels, develop this disorder between 15 and 24 years of age, and are more likely to seek help because they realize they have a problem. Most people dealing with this disorder are attractive, successful women with no apparent weight problem. Bulimia usually starts when the person is under tension, usually associated with a change or a disappointment. They tu rn to food for comfort and eventually gain weight. Finally they start dieting followed by binging and purging. They also feelShow MoreRelatedEating Disorders : Eating Disorder1205 Words   |  5 PagesEating Disorders in Today’s World Eating disorders are alive and well in today’s world and they are a major problem. An eating disorder can look like a few different things, ranging from a severe reduction of food intake to over eating to feelings of negativity towards your body shape or weight (Lehigh University). While some disorders can only be found in specific age groups, races, etc., eating disorders can be found amongst all and it does not necessarily have to be pointed towards food (LehighRead MoreEating Disorders : An Eating Disorder1184 Words   |  5 Pagesas an eating disorder. Weir (2016) goes on to explain the origins behind eating disorders in individuals. This topic is important because, in the United States, many women and men suffer from a clinically significant eating disorder at some point in their life. It is important to know the influences that cause an individual to experience an eating disorder. Genetically, or environmentally, or both genetically and environmentally. Anorexia ner vosa, bulimia nervosa, and binge eating disorder are eatingRead MoreEating Disorders And Eating Disorder1573 Words   |  7 Pagesaffects people called an â€Å"eating disorder.† Why did you choose this topic? I chose this topic because it is a very prevalent issue in our society today, and a close friend of mine is suffering from an eating disorder. What question(s) did you want to answer or what was your hypothesis regarding this topic? As mammals, there is no chance of escaping the need to consume food in everyday life. However, when it comes to food there can be a major concern of eating too much or eating too little. Doing eitherRead MoreEating Disorders And Eating Disorder1104 Words   |  5 PagesEating disorder is a serious problem happens in both men and women. Eating disorder is a sort of disease in which a person is having a strange routine of eating like consuming a huge amount of food each time they eat. This can incorporate not eating enough nourishment or indulging. Eating disorder influence many people around the world. The larger part of peoples who are dealing with this issue are ladies. A person with eating disorder issue may focus nonsensically on their weight and shape. EatingRead MoreEating Disorders And Eating Disorder1410 Words   |  6 Pagesâ€Å"An eating disorder is about anxiety and control and healing from trauma and food and weight are just the tools of destruction† (Floyd, Mim ms, Yelding, 2008). An eating disorder is defined as a severe disturbance in eating behavior. An eating disorder, as defined by our text book for class, is psychological disturbances that lead to certain physiological changes and serious health complications. The three most common and most easily identifiable forms of eating disorders include anorexia nervosaRead MoreEating Disorders : Eating Disorder966 Words   |  4 PagesEating Disorders Many people, both women and men of all ages, suffer from the psychological disorder, eating. Up to thirty million people in the world suffer from some kind of an eating disorder. There a two types of eating disorders, anorexia and bulimia, and have several methods of treatment. What is an eating disorder, and what do they cause? Eating disorders are maladaptive and very serious interruptions in eating. They can come in the form of overeating, or not eating enough, they are oftenRead MoreEating Disorders And Eating Disorder1496 Words   |  6 PagesAn eating disorder is an illness that causes serious disturbances to your everyday diet, such as eating extremely small amounts of food or severely overeating. A person with an eating disorder may have started out just eating smaller or larger amount of food, but as some point, the urge to eat less or more has gotten out of control. Severe distress or concern about body weight or shape may also signal an eating disorder. Common eating disorders include anorexia nervosa, bulimia nervosa, and a binge-eatingRead MoreEating Disorders : Eating Disorder1031 Words   |  5 Pagesâ€Å"The eating disorder is a very jealous and abusive partner. It requires a lot of devotion in the extent that you have to devote yoursel f to tending to the anorexia. There s not a lot of time left over for adult life,† was stated by Dr. Doug Bunnell, a specialist in eating disorders. Eating disorders effect a variety of people. Age, race, and gender aren’t role playing keys in eating disorders. Not everyone gets an eating disorder, but if they do then, it will more than likely destroy their livesRead MoreEating Disorders : An Eating Disorder1906 Words   |  8 Pagesobtain their body goal, thus causing an eating disorder. An eating disorder is a psychological condition that is characterized by abnormal or disturbed eating habits. There are three types of eating disorders; which are Anorexia Nervosa, Bulimia Nervosa, and Binge Eating.These disorders affect all aspects of a person’s life, including their psychological, emotional, and physical health. There are many factors that contribute to individuals developing eating disorders including: genetics, family pressuresRead MoreEating Disorders : Ea ting Disorder1235 Words   |  5 PagesEating Disorders Eating disorders are a very serious psychological condition that affects your mind so that you are more focused on your food and weight than you are on everything else. The most known and most commonly diagnosed eating disorders are anorexia, bulimia, and binge eating disorder; however, these are not the only eating disorders. Eating disorders cause psychical and psychological problems, which at their worst can even become life threating. Statistics show that more women are affected

Thursday, December 12, 2019

Business Plan Analysis

Question: Describe about the business plan. Answer: 1) Business Topic When I think of business, what comes to my mind is, to own many good service station sites. Further,With 17.6 Million vehicles registered (year 2014 according to Motor vehicle census)(Dean, 2015) in Australia, fuel station can be seen a good business to start in such a good expanding market. Furthermore, talking more specifically, I like to start with a Caltex site as, it is a very good brand with a marvelous hold in Australia. Although, it has a tough competitions with Shell, 7 Eleven and BP, but not to forget a good hold too. 2) Research questions and Problems: Any new business plan comes lot many questions to be answered and have to deal with many problems too. So, what came to mind first when I thought of this was: How much does a fuel station cost? Like how much money you have to pay for brand, land and machinery and all other stuff. What would be your expected customer base? Like which fuel like in mining area, you have to keep diesel in high quantity. How much personnels you need? Like how much staff and working capital. What would be the return on investment? Like how much time it would take to reach a breakeven point. Who would be the vendors? Like who are the vendors for all shop stuff nearest and cheapest. Have to ask for their quotes. How can I advertise it? Like what would the strategies to increase the customer base. How much can I expand this business after a successful first investment? In how much time of the first investment can you expect to expand your business like but more sites? 3) Literature review According to Capar et al (2013), the fuel station is a service station which offers a range of fuel products for motorists including diesel, petrol and liquid Petroleum gas or LPG. The fuel stations comprises of the pumps and hoses with the turnover of petrol varying on the size of the station of the firm. According to Mustafa (2015), the fuel station site should be chosen to be sufficiently spacious in its design such that to minimise the risk involved to any individual which would be likely to be occurring at the fuel station. Fuel business The governance of the fuel station is implied by the legal requirements where the owner is required to purchase the liability insurance of the site. This could be the highly individual business to run which requires agencies According to Huijts, Molin and Van Wee (2014), the greatest skill required to maintain and run a successful fuel station is the ability to hire the best and the most conscientious employees. The fuel business cannot run itself on its own. Thus, the maintenance of the station requires enough employees for covering at all the times related to the business process. The fuel station is a business that serves both the passing trade and the locals. The fuel business needs to be providing good customer service. The industry is a high turnover business and thus, it require a good accountant of operation which includes the resources vital for running the business profitable in the long run. Required Skills Organisational skills required for maintaining the fuel stations is in understanding the requirements of the customers, working on retail product revenues and stick ordering on a regular basis. According to Huijts, Molin and Van Wee (2014), the placement of the stock order is the primary option for maintaining the supplier relationship. The owners must be considering the delivery methods and processing time of the vendors while preparing the orders. In addition, the actual delivery of the fuel should be checked for accuracy. Besides, the owner of the station is also required to keep up with the capital aside and which should not be phased by dealing with the large amount of deposit cash on a daily basis. Setting up According to Weber and Hitaj (2015), the fuel stations are larger than the average small businesses which requires the land and building to be leased and thereby costing an additional expense for establishing the same. Moreover, the gas fuel station is not a cheaaper business to buy while, being the most lucrative business in the market. According to Greene and Duleep (2013), getting the fuel margins would be helping in making all the difference to the financial health status of the fuel station. The most common way to measure the earnings is to evaluate the annual sales revenue. The fuel station is likely to generate more than the asking price annually although, the overhead and taxes including the fluctuating cost of the fuel is to be deducted from this amount. According to Greene and Duleep (2013), the most advantageous thing about the fuel station establishment is that the new investment and smart ideas of the owner would be helping the busianess to increase the profitability in the future. 4) Research methodologies Research methodologiesprovide an evidence base for decision making. It consist like the methods used for research. It can be practical research or theoretical research. So here to research about service station we can use more of practical research which further consist Questionnaires Surveys Interviews Observation Discussions So in our case, we need to do online and practical surveys, interviews, discussions and observations. It is difficult to select one method of research because each method has its importance and skipping any step can result in wrong investment. 5) Research process It begins with collecting appropriate infolike by meeting real estate dealers, Site seeing. Site seeing is important too as it would be the base for the whole project. This can be done nowadays through online websites. For example, as I was going through stuff on this website I came across a site in a small town which doesn't even has Woolworths or Coles and nearest Mac-d is 3 hours away. So having a service station in that town with a population of 1200, one need to keep groceries and would earn major chunk from food and groceries(Businessforsale.com.au, 2016).Furthermore, on a different, collecting information regarding Caltex franchise, what are the things one needs to know like their requirements and how much time will it take to compete all the requirements, info about borrowing funds, have to search for the lowest interest rates or from government schemes. Further, have to have a research objectiveand it is believed that, to be successful in any field you have to aim high. Here it means, research has to be intensive about Caltex and other service station sites, like others profit margins and breakeven and comparing it with Caltex fuel stations. Moreover have to select a research methodology,which best suites the type of business you are starting. Here as mentioned above you need more of surveys, observations and discussions with other franchise owners, manager of other sites and asking real estate experts. Furthermore, secondary and primary researchconsists of collection and discussions through internet and through observations and interviews. Use of tables for data analysis and final report would end the research process. Difference between literature review and a survey When we talk of survey, it is mainly more of a practical or physical thing to do. On another hand, Literature review involves paper and pen. Literature review is more of a theoretical stuff. It means to write a review of any research with reference to relevant theory. 6) Data collection and analysis Data collection can be done in many different ways. So for any research, data collection can start with simply going online through websites as, Internet has connected whole world, otherwise it was very difficult to go far off places for data collection by surveys. As off now, we can find research outcomes on websites or can post a blog asking questions and you would find couple of relevant answer within few hours. Online survey for literature review can also be done survey monkey. Other ways to do survey nowadays can be through emails or through social media, posting for comments on Facebook in several groups. Talking more specific to topic, survey could be conducted in particular suburb, observing the type of vehicles people own ( diesel or petrol or LPG) in that area and which community has majority and their eating habits (processed foods like pies, sandwiches and sausage rolls, donuts, coffee, tea etc.), even though cant change much if it is franchisee, but in case of free hold station, we can do much more things of our choice and for that intensive surveys need to be done even involving door to door knocking. Collecting data of competitors in that area and studying their weaknesses and strengths, their customer base etc. Collected information can be made meaningful with the help of descriptive statistics like, Excel and SPSS. 7) Expected Research outcomes After studying the collected data, it can be said that, service industry in Australia is still in a childhood phase and pretty many things are still to be discovered. There are highways with no fuel stations, people travelling have to carry big jerry cans, and some of them even stretch more than 1000KMs. If I was given a chance to open fuel station in India, I wouldnt have done that as there is hardly any highway left without fuel pump and you cant set fuel prices by yourself, as prices are imposed by government, further people prefer to buy stuff from their regular wholesalers and retailer and they do not change their preference very often. I expect fuel station is a good business to start in Australia than many other countries. Reference Businessforsale.com.au. (2016).Business For Sale - BusinessForSale.com.au. Capar, I., Kuby, M., Leon, V.J. and Tsai, Y.J., 2013. An arc coverpath-cover formulation and strategic analysis of alternative-fuel station locations. European Journal of Operational Research, 227(1), pp.142-151. Dean, S. (2015). An introduction to buying a gas station. Difference? L. (2013). Literature Review versus Survey. What is the difference?. Greene, D.L. and Duleep, G., 2013. Status and prospects of the global automotive fuel cell industry and plans for deployment of fuel cell vehicles and hydrogen refueling infrastructure. Oak Ridge National Laboratory. Huijts, N.M.A., Molin, E.J.E. and Van Wee, B., 2014. Hydrogen fuel station acceptance: A structural equation model based on the technology acceptance framework. Journal of Environmental Psychology, 38, pp.153-166. Mustafa, A.M.H., 2015. Fire Safety in Petroleum Service Stations, in Wad Medani-Gezira State (Doctoral dissertation, UOFK). Weber, J. and Hitaj, C., 2015. What can we learn about shale gas development from land values? Opportunities, challenges, and evidence from Texas and Pennsylvania.

Wednesday, December 4, 2019

Red Bull Marketing free essay sample

From 1987, Red Bull was launched in Austria with the tag line â€Å"Red Bull verleiht Fluuugel† (Red Bull Gives You Wiiings). It wasn’t until 1992 that Red Bull began to roll out in other European countries. â€Å"Part of the growth strategy was to enter new markets slowly and methodically in order to maximise buzz and build anticipation† Keller, K. L (2008 *A) By 1997, Red Bull was available in 25 markets globally, including Western and Eastern Europe, New Zealand and South Africa. Over the decade since its inception Red Bulls sales by 200%, from 1. million units to over 200 million units, and by 2004 the company had worldwide annual sales of nearly 2 billion cans in 120 countries. The Marketing Strategy used by Red Bull was not to pound the market with their presence but to be seen as an exclusivity, and to be perceived as the drink for all occasions when needed. In this way, marketers left empty cans in nightclubs, placed samples and dispensers in universities and allowed the value of Red Bull to spread via word of mouth. Red Bull marketed the following properties: * Improves Physical Endurance Stimulates Metabolism and Eliminates Waste Substances * Improves Overall Feeling of Well-being * Improves Reaction Speed and Concentration * Increases Mental Alertness These characteristics of the Red Bull product opened itself up to a whole range of potential consumers and marketing situations. Because of its properties, Red Bull used the slogan â€Å"Revitalizes Mind and Body†, and positioned the drink using a premium pricing strategy, marking the price up by at least 10% on the most expensive competitors product. Norbert Krailhamer explains: We are much more expensive that [cola]. This is OK because ours is an efficiency product, so we can charge this price premium, which is the secret of its success†¦ Due to the respect for a price premium brand†¦ we can charge what is fair for the benefit† Keller, K. L (2008 *A) A large portion of Red Bull’s success has to do with the use of the distinctive Red Bulls and Rising Sun logo and slender 250mL can as seen on their sponsorship sign writing and general advertising. It is debatable whether or not Red Bull would be as popular and successful without this insignia. Evidence of this can be traced to the introduction of Red Bull in Germany , where the demand was so great that they sold out of canned stock and had to switch to glass bottles to keep up with the demand. As soon as the bottles were introduced the demand dropped. The success of Red Bulls marketing strategy can be highlighted with the bungled entry of Red Bull into the United Kingdom in 1995. The marketers believed that the United Kingdom was too different from the Austrian market, so altered the marketing plan. The changes occurred in three distinct ways: â€Å"Extract: 1) the company marketed Red Bull as a sports drink, not a stimulation drink; 2) it did not pursue a word-of-mouth strategy, choosing instead to sell via the largest beverage channels; and 3) it created new advertising and focused on billboards rather than electronic media. As a result, Red Bull was considered a failure in the United Kingdomafter losing more than $10 million during the first 18 months in that market. † Keller, K. L (2008 *A) 1. Introduction: Red Bull GmbH, the Austrian based energy drink manufacturer is a remarkable brand that has grown to surpass some of the worlds most established brands. After founder Dietrich Mateschitz returned from Asia with the rights to patent Red Bull and alter it to suit the Western market, he had a defined idea in his mind as to what he wanted to achieve with the energy drink. After trialing more than 200 designs and finally cementing the right combination of caffeine, taurine, carbonation and flavoring the â€Å"original† Red Bull flavor was established. What follows is the amazing story of how Red Bull was marketed in Austria and then from 1992 onwards into the rest of Europe, the Americas, Asia-Pacific and the United Kingdom. Some of the key stones in the Red Bull brand marketing triumph has been the simplicity of their marketing approach through application, the positioning of the product and the clever ways in which they have side stepped traditional channels when bringing the product to the market and building the buzz and anticipation of Red Bull rather than just solely relying on the decision making derived from traditional advertising methods. The diversity of the Red Bull brand has allowed itself to move with the market and remain the worlds most popular energy drink. Looking at the brands tangible flexibility can even be posed at the move in the market to sugar free beverages and the quick and succinct way that Red Bull acted in order to uphold its position and remain creditable at the same time. As of the 2009 financial year, Red Bull GmbH had net sales report of 3. 3billion dollars and now has 3900 employees worldwide. Source: BNET Resources 2. Brand Positioning and Values From the day of inception, Dietrich Mateschitz had a clear plan for how he wanted to establish Red Bull. The current positioning has left Red Bull in a very strong position among the market place and the values that it represents are continually being lived up to through its corporate presence in our daily lives. The position of Red Bull is: â€Å"Revitalizes Mind and Body† this tangible benefit, direct from Red Bull endorses the product to satisfy consumer needs before they have even made a purchase. Red Bull has also positioned themselves as the â€Å"Premium Energy Drink† above all other energy drinks in the market. The key word in this phrase being ‘premium’ as Red Bull has an exclusive appeal and a higher market price than its competitors; factors that have been thought through very thoroughly by the Red Bull marketing team. The â€Å"Premium Pricing Strategy† that Red Bull has incorporated, dictates that Red Bull will be priced at a rate 10% higher than the most expensive competitors price to ensure the class standard of the Red Bull name and set the standard for all of the rest of the competitors. In addition to the Premium Pricing Strategy, Red Bull introduced the Seeding Program, whereby initially Red Bull would only be stocked in the best and most classy establishments, whether this be exclusive clubs, nightclubs, bars, sporting events and related events to build the necessary hype or buzz about Red Bull, and to enable the word of mouth from the social elite to filter down into the working class. Once the market place was saturated with Red Bull buzz, the general market received the product too. In addition to the Word of Mouth strategy, Red Bull would supplement this with event sponsorship, athlete endorsements, sampling, point of purchase marketing and select electronic advertising. This allowed Red Bull to cover the necessary avenues which potential consumers were likely to come into contact with the brand and go on to purchase the drink. The values of the Red Bull brand are derived from the benefits of the drink itself: * Improves Physical Endurance * Stimulates Metabolism and Eliminates Waste Substances. Improves Overall Feeling of Well-being Improves Reaction Speed and Concentration * Increases Mental Alertness The Red Bull brand encourages the consumer to go to their potential and offers an aid in doing so. But offering these benefits in their product, Red Bull values the extension of horizons and energetic approaches to life. This can be summed up through their corporate sponsorship of Extreme Sporting events, individual athletes, the creation of events or the sponsorship of teams. The reasoning behind this is that these events are fast paced, high energy, thrilling and require exactly what Red Bull has to offer. By encouraging these types of events and endorsing the elimination of comfort zones, Red Bull is positioning itself as a goal, a motivation and a stimulant that can be harnessed to achieve any goal. Red Bulls success can be likened to the single-minded approach they have used n order to connect with their target market; 14 – 19yr olds and then the next highest penetration 20 – 29yr olds. Red Bull is an active product in today’s trendy lifestyle habits and is being reflected through their values and displays encouragement of abnormal sporting activities. . The Red Bull Air Races† in Perth Australia; and sponsorship of Mark Webber and Formula One. From a nationality point of view, Red Bull chooses the idols of sport and eye catching events to promote itself as well as support the people in question. This is seen all around the world and has been a strong driver in the popularity of Red Bull in certain areas of the world. Because Red Bull is a stimulant drink, it makes sense to market to the whole variety of consumers in the market place. In its 23 years of operations, the initial people who would have used Red Bull for â€Å"party energy† at nightclubs and parties will now be moving through to the quieter portion of their lives, however this does not mean they will no longer need Red Bull. Working long or irregular hours, studying and going the added distance is still important; therefore Red Bull has applied its benefit across several generations and the cycle continues. 3. Brand Characteristics Red Bull is now a very distinctive product in the market place and can be recognized based on some key points. Two Red Bulls and Rising Sun Logo * Slender Silver 250mL can (with silver and blue pattern) The name Red Bull * Endorsed Events or Persons i. e. Mark Webber As opposed to other energy drinks on the market it is the most represented and advertised product on supermarket shelving in Australia, (per unit) and is represented by an 80:20 spread of cans to bottles in the standard 250mL variety(1). Dominant characteristics of Red Bull include its involvement in Extreme Sports, high-energy events and the encouragement of athletes and the involvement within comfort breaking activities. It is important to note that the Red Bull marketing strategy encourages the promotion of the brand through non-traditional channels and is not seen in the same context as traditional carbonated drinks, or energy drinks. This fact makes adds to the characteristics of the brand. People recognize Red Bull based on its involvement and support in events and occasions. Rather than times, controversies or lengthy advertising campaigns which try to deliver a message over a long period of time. The marketing message for Red Bull has remained consistent throughout the 23-year reign it has had in the marketplace; adding to the resilience of Red Bulls brand characteristics. The Red Bull Australia website promotes Red Bull as: â€Å"Red Bull  ® Energy Drink has always been and always will be more than just a hot secret for the night owl and the non-stop party-animal. It is appreciated by a wide range of people, such as the overworked taxi driver, the stressed manager, the exam-anxious student and the pressured journalist†¦. It is used by surfers in the summer and snowboarders in the winter. For day or night, for job or fun. People who need more energy learn to value Red Bull ® Energy Drink. And the number of people who do is increasing all the time. † Red Bull Australia 2010 The Red Bull Australia website explains, through a marketing set spiel the characteristics of the brand and the direct benefiters. The exert highlights very clearly the intentions of the brand and the way in which it is appreciated. 4. Product Benefits and Consumer Satisfaction Red Bull markets itself on the two phrases â€Å"Gives You Wings† and â€Å"Revitalizes Mind and Body†. This can be demonstrated through its ingredients: Caffeine, Taurine, Sucrose Glucuronolactone, Glucose and B-Group Vitamins. These six ingredients all combine to give Red Bull the kick that consumers need. * Improves Physical Endurance * Stimulates Metabolism and Eliminates Waste Substances * Improves Overall Feeling of Well-being * Improves Reaction Speed and Concentration * Increases Mental Alertness As stated earlier the benefits listed by Red Bull allow themselves to be focused on a wide variety of people, whether they be office workers, truck drivers, athletes, students or partying. The given benefits of Red Bull provide the reasoning to buy and continue re-buying. Consumer satisfaction based on the product benefits is evident through the sales figures that Red Bull has been generating, with positive growth of 10% or more per annum. Performance the American Market shows the Market share of Red Bull compared to its competitors: Based on its 42. 6% share of the energy drink market sales in 2006, it is evident that Red Bull is a satisfying and enticing product. A large portion of Red Bulls ability to satisfy both physically and mentally comes from the consumption of the drink and seeing the performance of those around the consumer who are either consuming Red Bull or endorsed by Red Bull. This positive reinforcement from the elements encourages the consumer to drink more and to be brand loyal to Red Bull. 5. Brand Communities Red Bull’s mass sponsorship and consumer loyalty would work considerably well with a network of dedicated Red Bull Communities, rather than just the Red Bull sponsored, run and presented events. The basic criteria for the Red Bull Brand Community have already been met with the purchase of a Red Bull Product, as they have features and needs that are common to the other consumers who had purchased Red Bull previously. Ways that Red Bull could maximize on this could be through loyalty reward schemes, groups, emailing lists, gatherings, committees or clubs. While the idea of a Red Bull Brand community is appealing the practical application of one of these communities would be an expensive and difficult task to manage. The on paper, and metaphorical idea of a Brand community is a safer, more cost effective and ultimately simple Utopia when thought through. The Brand Community idea is one that should have been conceived during the introduction to the market or while the market was considerably smaller and more manageable. Red Bull uses the basic premise of Brand Communities already with their Red Bull Events and Sponsorships, in which it is then upon the individual to become a consumer and subscribe to these communities. The stress between the brand, the individual and the culture in which both exist is not under any amount of tension in the current marketplace and does not need to be altered at any point in the near future. The Brand Community, which Red Bull could potentially highlight, contains around 1 Billion people globally and would require large amounts of money to communicate to all of these people, let alone bring attention to it and get consumers to act upon it. 6. Brand Equities Red Bull has at its disposal a large set of Brand Equity that it uses to distinguish itself from other energy drinks and its competitors. These include its logo, its amber coloring, its taste, advertising, packaging, pricing and its reputation as a reliable and beneficial product for onsumers. In comparison to its competitors, Red Bull prides itself on being an al rounder energy drink that can be consumed anytime, in the right conditions, at the right place and the right time. Which has worked well for Red Bull as they have positioned the brand specifically to suit any occasion and to answer â€Å"Yes† to any of the Three Right questions. The development of these brand equities has been a continuous run through the development of Red Bull as a brand and its establishment in all the countries it now occupies space in. The Red Bull logo is a key device in the success of Red Bull and is possibly the strongest asset that they have in terms of Brand Equity. Many comparisons of competitor energy drinks such as Rockstar, Monster and Sobe No Fear yielded results that consumers could not differentiate between the Red Bull and its competitors while using unmarked cups and blindfold tests according to Helium Comparison Tests. In a real market perspective this fact is worrying that competitors are fabricating similar tasting products and that they are indistinguishable from one another. However this instance is found across all products in any category when basing comparisons without brand equities such as packaging, logos and distinctive colorings. Red Bulls marketing strategy has ensured that the strength on the product based on its merits receives the credit it deserves. The initial slow entry into markets, creating buzz and desired anticipation of the products has proven valuable for Red Bulls long term existence and has given merit to them too, in that they did ot let down the people who had tried the product based on hype and anticipation, creating return buyers and brand loyalties. Red Bull’s price premium is considered a winner with the market place as people believe that paying for benefit is better than paying for volume, as can be seen with competitors such as Rockstar who sell only the 500mL cans of energy drink and who deliver solely on their marketability rather than on product benefit such as Red Bull has done. The pricing premium has ensured that Red Bull be taken on its quality rather than on a commodity measurement ike quantity. This perceived value given to it and received by consumers tightens the consumer’s loyalty to the brand. Red Bull has seen a long run of marketing in sporting events and endorsing athletes to create awareness to potential consumers of its benefits in sporting activities, on and off the field. This spending on endorsements and events is evidence to the wider community that Red Bull is not just about profiteering, but supports the sporting world and provides entertainment and encouragement to those people who would like to strive to this level. However know where does Red Bull market itself to state that it will put you in this position. The clever marketing strategies which Red Bull have used remain honest and aim solely to promote Red Bull in a positive light whilst involving the consumers it is reaching out to. The Brand Equity that Red Bull keeps is a well-earned set of criteria that has been nursed from the beginning of the brand back in 1987 in Austria. The expansion of Red Bull into more than 120 countries is a sign of strength and highlights the diverse regions of differing brand equities among varying cultures. The underlying success of Red Bull remains in the marketing strategy that put it ahead of the competition in the first place. Without this, the basics of brand equities would not exist and Red Bull would follow the same course of one of its competitors. Because of this I believe that Red Bulls greatest brand equity is the brand itself and its history among the market over the past 23 years. Combining all of the elements discussed previously and essential make up of campaigns, strategies, advertising, targeted markets, successes and failures. This long history will benefit Red Bull in the long term, as it will become even more cemented into the grain of society and stay as the go to energy drink, rather than the fad competition products which have entered into the market in order to unseat the firmly held Red Bull. As for the continuing growth of Red Bulls Brand equity listings that is to be foreseen in the future, but there is little doubt that it will continue to build positively as the Red Bull product range changes to suit the coming changes to the current market. When it does I have no doubt that Red Bull GmbH will be ready for it. . Conclusion The Red Bull Branding Story follows a long timeline of success and obstacles that Red Bull GmbH has turned into triumphs. Red Bull have managed to turn a small Austrian drinks company into a global giant as one of the fastest growing brands and now staying true to one of the most popular of the 21st Century. Over the course of the 23 years that Red Bull has been manufactured, we can see a growing trend and the synthetic need created by Red Bull for energy stimulation drinks; and now the popularity of them to a point where we could no longer exist without them. Red Bull has become part of pop culture and every day slang and jargon, which intensifies its impact on the market and its sustainability in the consumers mind. As far as brands go, Red Bull has remained faithful to its consumers and to its own marketing goals, with little to no changes to the marketing strategy, the product packaging and flavoring, besides of course the Sugar Free Red Bull. This steadfast approach to marketing has clearly worked and a comparison of Red Bull and other Energy drinks shows that these brands lack the same commitment that Red Bull has.