Creating a Brand using the Low-Budget Route

Lack of premium image: Lack of premium image may reduce brand appeal to target audiences seeking elitist or exclusive products.Suggestion of Solutions:Packaging and Design: - Update the packaging design with a focus on minimalism, elegance and premiumization. A quality and stylish design can make a significant impact on brand perception. Differentiate Red Thunder's brand identity through packaging, messaging and market positioning. Marketing & Positioning: - Launching advertising campaigns that emphasize the flavor profiles of the products and the unique features of the brand. Promoting the brand as exclusive, quality and stylish, at a reasonable cost. - Brand Loyalty: Building customer loyalty through consistent quality and value proposition.Correcting perception problems and strengthening the premium brand image requires a comprehensive approach that includes product diversification, design and packaging updates, increased marketing efforts and collaboration with key industry figures. Implementing these recommendations will allow the brand to improve its market positioning and attract new audiences (Simplilearn.,2024).The new identity brand proposition "Red Thunder" is based on the strategy of offering a quality product at an affordable price, which is in line with Cheap Price Stores. By applying key brand concepts and theories, the proposition aims to balance value and quality, which is a key criterion for successful entry into the energy drink market.IMAGE TRANSFERThe energy drink company portrays an image of high quality combined with affordability and beautiful packaging, creating a unique positioning in the market. Let's analyze and justify the process of image transfer using theoretical terms and concepts(Charlene R. Chedi., p. 6-16.,2020):Brand Content:Material/Immaterial: The material aspect includes physical attributes such as the packaging design. The packaging design is bright which immediately attracts attention, the red color is associated with action, something active and even a little aggressive. The brand reputation is transparently clean as the brand is new and positions itself as an affordable quality product, the advantage of the brand is that a small percentage of each sale goes to a charity.Manifest/Latent: Manifest content refers to the visible elements like packaging, taste, and price, while latent content delves into deeper meanings and emotions associated with the brand.The plan is to launch several flavors for different contingents, berry, citrus, sugar-free for people who keep fit, and classic close to competitors. The formulation will contain fewer chemical elements such as taurine, reducing the likelihood of adverse side effects. Red Thunder because of its name is associated with the super hero Flash, which is super-fast, in the design of the energizer will be yellow lightning bolts, which will help to evoke the right emotions and associations in the buyer. Flash super hero - drink energy drink will become fast and active as the Flash.Brand Image Components:Favorability: The brand image is perceived positively due to the combination of high quality and affordability.Strength: The brand image strength is high, resonating with consumers looking for value without compromising on quality.Perceived Performance: Perceived performance is high, as the brand is associated with effectiveness in delivering energy and taste satisfaction.Psychosocial Meaning: The brand conveys a moderate psychosocial meaning by striking a balance between high quality and affordability.Brand Awareness: The brand has active brand awareness, with consumers recognizing it as a viable option in the energy drink category.Aaker's Five Personality Dimensions:The dimensions of Excitement (dynamic, youthful), Competence (reliable, effective), and Sincerity (down-to-earth, honest) are likely to apply, reflecting the brand's qualities of energy, reliability, and authenticity.Product Relatedness: The product is closely related to consumer needs for energy, taste, and value, aligning well with market demands.Target Group Similarities:The brand resonates with a diverse target group seeking a balance of quality and affordability in energy drinks, potentially appealing to a wide demographic.Family Resemblance:The brand's image may show family resemblance with other products in its category through shared characteristics like functionality, taste appeal, and packaging aesthetics.By understanding and analyzing these theoretical terms and concepts within the context of the energy drink company's brand image, we gain insights into how the brand is perceived, how it adds value to consumers, and how it aligns with key dimensions of personality and market relevance. This analysis provides a deep understanding of the brand's positioning and strengths in the competitive energy drink market.CONCLUSIONIn the fast-paced and competitive realm of branding and marketing, the adoption of the low-budget approach to brand building has emerged as a strategic avenue for entrepreneurs and businesses looking to carve a niche without hefty financial investments. In a landscape where scarcity often presents hurdles for aspiring brand owners, the low-budget path serves as a gateway to innovation, originality, and effectiveness in crafting brand identity and reaching desired audiences.The introduction sets the stage for the exploration of creating a brand through economical means by shedding light on the prospects, advantages, and considerations intrinsic to navigating the branding domain with constrained financial resources. As we immerse ourselves in the world of low-budget brand construction, we uncover the intricacies of tactical decision-making, inventive solutions, and noteworthy outcomes that stem from approaching branding with fiscal limitations in mind.Through an understanding of the strategies, techniques, and triumphs associated with forging a brand on a shoestring budget, we gain a glimpse into the potency of resourcefulness, creativity, and adaptability in shaping brand narratives, fostering customer connections, and attaining enduring growth within a competitive market milieu.As we conclude this journey into the realm of low-budget brand development, it becomes evident that the path may be challenging, but the rewards are significant. The expedition through financial constraints reveals the immense power of strategic thinking, inventive problem-solving, and a steadfast commitment to realizing brand visions. The narrative of low-budget brand creation underscores the resilience, determination, and strategic vision required to triumph over adversity, pivot in the face of challenges, and construct brands that resonate deeply, inspire ardently, and flourish in the ever-evolving landscape of business and marketing.SOURCESSimplilearn., (2024)What Is Brand Management: Definition, Principles, Strategies, and Benefits. [Online]Available at:https://www.simplilearn.com/brand-management-article/ [Accessed: March, 2024].The Division of Continuing Education (DCE) at Harvard University., (2024) Brand Revitalization: A Comprehensive Brand Strategy Course. [Online]Available at:https://professional.dce.harvard.edu/programs/brand-strategy-course/ [Accessed: March, 2024].Sailer, S. (2018) Harvard's Brand Management. [Online]Available at:https://www.unz.com/isteve/harvards-brand-management/ [Accessed: March, 2024].Pahwa, A. (2023)Brand Management – Definition, Functions, & Process[Online]Available at:https://www.feedough.com/brand-management/[Accessed: March, 2024].Rosenbaum, R. et al. (2023) Strategic Brand Management. Oxford University Press.Charlene R. Chedi.p. 6-16. (2020) The influence of brand preference on brand image transfer: A research on brand event congruity in sponsorships. [Online] Available at: https://essay.utwente.nl/856/1/scriptie_Chedi.pdf[Accessed: March, 2024].Keller, K., Aperia, T. and Georson, M. (2013) Strategic Brand Management: A European Perspective, 2nd Edition. Prentice Hall.The Strategy Story [Blog]. Red Bull SWOT Analysis. [Online] Available at: https://thestrategystory.com/blog/red-bull-swot-analysis/[Accessed: March, 2024].Рereira,В. (2023) Red Bull Business Model. [Online] Available at:https://businessmodelanalyst.com/red-bull-business-model/ [Accessed: March, 2024].Red Bull Company Official Channel. (2024) [Youtube]. Available at: https://www.youtube.com/@redbull [Accessed: March, 2024].Red Bull Business Model. (2023) [Online] Available at: https://businessmodelanalyst.com/red-bull-business-model/ [Accessed: March, 2024].THE BRAND TAKEN AS A BASISRed Bull is a brand of energy drinks created and owned by the Austrian company Red Bull GmbH.With a market share of 38%, it is the most popular energy drink brand as of 2019, and the third mostvaluable soft drink brand behind Coca-Cola and Pepsi. Since its launch in 1987,more than 100 billion cans ofRed Bull have been sold worldwide, including over 11.5 billion in 2022. THE BRAND WE DEVELOPED FOR THE STORE.Unique and colorful design.High quality and taste.The line consists of different flavors, including sugar-free.The brand actively participates in charity.At its price, the quality of the drink is at a high level