Monday, April 4, 2011

Dietrich Mateschitz - Red Bull

Dietrich Mateschitz is an Austrian entrepreneur, who cofounded the energy drink Red Bull. He didn’t even invent the product, he founded an existing Thai product called “Krating Daeng” and ran with it. He took that recipe and tweaked the formula, which soon turned into what is now known as Red Bull. Dietrich used his marketing and entrepreneurial skills to the ultimate. He targeted the youth and marketed to them in so many ways. He made a simple product stand out from all competitors. Simple but effective marketing, Red Bull, “it gives you wings.” It took Mateschitz about three years of hard work and experimenting to get it right, but when he did the product boomed.
He is currently a billionaire, and many successful events of his own. The Croation entrepreneur is known as a marketing genious due to the effectiveness of all of his advertising campaigns. Mateschitz has also dipped his fingers in the vast world of sports in various ways. He also owns a nascar team which is called, "Team Redbull", the successful business man also owns two soccer teams in Brazil and Germany. Another important fadct is that Mateschitz company Redbull, hosts many big time sporting events including, Redbull rampage, Redbull Crashed Ice, Redbull X-figthers, Redbull Air Race World Championship, Redbull Flugtag, and many more. Red Bull also sponsors many big time athletes such as Travis Pastrana.
Dietrich Mateschitz is the ultimate entrepreneur in my eyes, because he did not create a new product, he found an existing product and , stumbled upon the idea for Red Bull. He then used his great entrepreneurial mindset and advertizing expertise to seek out the best target market which is the, and focus on selling to them. This worked out very well because kids aspire to be like a lot of athletes they endorse. All of his success led him on a path to become one of the world's billionaires.

Submitted by: Dilan Desai

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