Brief • 2 min Read
The name Red Bull evokes more than an energy drink. Depending upon your personal interests, you may think of eSports, F1 racing, ice hockey, extreme sports, or soccer…just to name a few.
Red Bull attaches its name to multiple sports and industries beyond the beverage space. The company spends roughly 30% of their revenue on marketing, including events, buying sports teams, and executing high-drama stunts. This keeps the Red Bull name top of mind, well beyond the sporadic instances that consumers consider purchasing Red Bull for a midday jolt.
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Using QuestBrand data, we compare Red Bull’s brand equity among US adults to Red Bull’s brand equity among fans of sports with a Red Bull team. For this report, we examined data from fans of F1 racing, NASCAR, soccer, and eSports. This comparison shows how associating Red Bull’s name with a popular sport positively influences viewers’ perception of the beverage brand.
Brand equity measures the value consumers see in a brand at a particular moment of time. It is an average of four components: brand familiarity, perceived quality, purchase consideration, and perceived momentum.
The chart below signals that Red Bull’s strategy is paying off. All components of Red Bull’s brand equity are higher among the sports fans than the general population. The power of positive association is raising Red Bull’s brand value within each group.
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