Australian Competition and Consumer Commission †Free Samples

Question: Discuss about the Management of knowledge and information of Red bull. Answer: Management of knowledge and information Informationmanagement deals with running an organizations information resources so as to be able to help improve the performance of the business. It focuses on the activities that are needed to control a companys records as the personnel are referred to as important but not critical resources. It uses information technology resources and also by virtue of overseeing information resources. Knowledgemanagement is the process of creating, acquiring, sharing and using the information acquired in order to allow learning in organizations. It carries people as a critical component to be supervised, as it is strategized to help improve the businesses performance and also add value to an organization through a set key of processes which involve knowledge sharing. The company chosen for this research is on Red bull. Its sold by an Australian company which was introduced in the year 1987. It has the largest market share in terms of energy drinks in the world having billions of cans being sold worldwide. It was started by an entrepreneur who went by the name Dietrich who was inspired by an existing drink that he found that was being sold in Thailand whereby he took this idea incorporated his own ideologies into it so as it would suit the avid tastes of the westerners who he had an interest in targeting, thus in partnership with Chaleo they founded the what is Red bull. Its slogan was Red bull gives you wings which were before a lawsuit related to the advantages of utilising the drink which was around the period of 2014. It has a different approach to marketing schemes whereby rather than taking the most used route of mass marketing it generated its awareness and attracted clients by virtue of having proprietary sports events such as cliff diving world series, the Red bull air race and the crashed ice all these act as Red bulls arsenal in terms of commanding crowds and having customers enjoying the drink at such events thereby making it a force to reckon with as of here it breaks apart the norm that the energy drinks organizations have the capability to host and endorse events and also market its accessories properly with no problems Richter (2012). Red bulls strategy to be amongst the leading organisations is held by the fact that it associates itself with a lifestyle and a way of living in terms of having an adventurous spirit by doing so it puts an aggressive marketing process in play. this is so followed through by having their slogan Red bull gives you wings being a constant message broadcasted to the customers via many streams of communication in a broad integrated manner. Product differentiation is what sets aside Red bull apart from other energy drinks as it is a premium energy drink. The drinks are more expensive as compared to the other drinks in its categories like monster, NOS, Lucozade and Amp. This is because the customers are charged according to the benefits that they get by being able to lead a good functional lifestyle and also increasing physical performance by triggering mental strength Dobkin (2008). The aspect of competitive advantages falls on these points. Being the first to bring the energy drink to developed countries- this happened when the founder brought the idea of this by incorporating some ingredients to what they learnt from the drink Krating Daeng. This is vital as it shows its the first in west thus has a loyal consumer base as from where it started off from thus having an edge over others by this aspect Dobkin (2008). The sweet taste and uniqueness of the energy drink set it apart from others as it sticks to its originality where it is still produced in Bangkok and shipped to the processing plants Richter (2012). This helps it maintain its authenticity by sticking to its roots of start and not changing the main moving parts. It is an appealing product that is linked to extreme sports as it is involved in a number of teams that help its brand image as it endorses the teams and their occasions capitalising on the customers of the sports. Lastly, effective marketing strategy which integrates it to an online TV channel that is used for marketing and also media strategy on how to capture a larger market size and how to expand conditionally. This strategy of having many acquisitions in the media numbers strengthens the brand image as it passes out the relevant marketing messages to the target segment.