Red Bull's marketing strategy has a specific target audience that plays an important role in why the company leads the energy drink market with 24.9% share and selling more than 7.5 billion cans globally. Their target audience is predominantly between the ages of 18 to 34 years old, both male and female, who have an average to high income with an interest in extreme sports and athletic events. They are able to be a marketing powerhouse by sponsoring popular extreme sports or daring stunts and a company slogan of “Red Bull gives you wings.” They also sponsor a lot of events in different countries such as the music academy in USA, parachutes in South Africa, and go karting events in Kuwait. Red Bull is currently in more than 170 countries energizing the population and raising the competition along the way. Due to the effort in different countries, Red Bull is able to captivate authentic and loyal consumers as they are usually into athletics and sports.
Their slogan has become a popular way to advertise in various ways such as online and offline campaigns, television advertisements, and newspapers and billboard ads. They also use some other well known strategies such and pickup trucks and mobile displays which are mounted on top of vehicles.
In 2012, Red Bull was at the forefront of most every headline when it sponsored an event where a skydiver was to free fall from the Earth Stratosphere in a helium balloon. This project broke many records and the video was streamed live through YouTube and GoPro and became one of the most widley streamed videos. The event embodied the company's slogan of “Red Bull gives you wings”. They used this event and photography in its marketing campaigns for years.
The stratos project generated huge number of attention and media coverage worth an estimated tens of millions of dollars which wasn't able to be achieved through their normal marketing strategy. After the project, the company increased 7% of it's sales in just 6 months generating $1.6B and selling 5.2B cans in the following year.