Technology Transfer and Marketing Strategies

This article discusses the concept of technology transfer and its importance in marketing strategies. It explores the different types of technology transfer and how it can benefit organizations. The case study of Red Bull is used to illustrate the use of marketing strategies in promoting a product.

Running head: MARKETING
Marketing
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Introduction:
Technology transfer in simpler words can be described as the transfer of technologies
from one person to another or from one organization to other. Technology transfer happens
along various axes: within the universities, from universities to businesses (and vice versa),
from large businesses to smaller ones (and vice versa), from governments to businesses (and
vice versa), across geopolitical borders, among these the transfer of technology is very
common and both openly and surreptitiously. One of the primary reason of technology
transfer is mainly to exchange or to share ideas and strategies and also efforts to share skills,
knowledge, technologies, methods of manufacturing, samples of importing, exporting and
also manufacturing, and facilities among governments and other institutions to ensure that
scientific and technological developments are accessible to a greater range of users so that the
people within and outside the organization are having better ideas in terms of processing
applications, materials, or services. It is closely related to (also it can be considered a subset
of) knowledge transfer. Horizontal transfer is the movement of technologies from a particular
to some other area having exchange of ideas and technological strategies. So the technology
transfer can be categorized into two groups as the horizontal and vertical technology transfer,
where in case of vertical techno logy transfer occurs when technologies are moved from
applied research centres to research and development departments (Mahroum 2016).
Discussion:
In the year 1987 Dietrich Mateschitz is well known to launch the energy drink called
Red Bull, where red bull also makes use of a progressive, apart from it there are many other
progressive approaches. However making use of advertisement is the most essential and the
smart way for promoting and attracting by convincing the customer around. This is termed as

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the above the line promotion which is probably the best approach to promote the products
sell. In case of above, there is a promotion of the goods to a very wide range of audience by
making use of several bodies like press, media, television and radio (Wolter et al. 2016).
This is however a very costly affair and also it is not very successful in delivering a
targeted message to the masses. Coming to the below line is mainly implanted to reach or
attract the targeted consumers, it encompasses all the other forms of promotional activities.
Red Bull however mainly focuses on developing benefits among and below the line
promotion activities. Red Bull mainly aims at targeting its customers by organising its events
and programmes all around town platform by the world and provide platform to several
sporting events which include Red Bull X Fighters, Red Bull Air Race where the world’s top
class riders and air force pilots showcase and present their feedback in respect of the Red Bull
effect. Push Marketing makes use of the above the line promotional a techniques to promote
the products sells and thereby attract the customers for the sales and consequently promoting
the products sell in the market (Tzoumaka et al. 2016).
Word of mouth which lies under the promotion technique of pull marketing which is
mainly implemented to promote the selling of any product in the market. The techniques is
used is mainly personal communication over emails, messages or direct talk in between the
organization which is transferred from one person to another of the same organization and
mostly outside it so as to promote the products promotion on a wider and a larger scale.
Talking about Red Bull which extensively makes use of the pull marketing which comes
under which eventually make use of word of mouth via emails or text messages. The main
purpose of the events held is to promote the Red Bull is in such a manner so that the people
attending the events are so convinced about the product that they also try to convince about
Red Bull to the other in their family and friend circle around, so that Red Bull gets a greater
coverage and footage in the market with respect to its market sells (Lovett et al. 2017).

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Conclusion:
The founder of Red Bull in the early years of the launch of the product in the year
1987 used the word of mouth and pull market technologies to promote the product also he
hired a Red Bull wings team which involves hiring a group of people to go out about to
discuss among the masses the product usage and its benefits and to do one on one business
meeting with the customers mainly the targeted customers and also to convince the customers
friends and family in using Red Bull usage and know its advantages as far as the energy
boosting is concerned.

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Reference list:
Lovett, M. J., Peres, R., & Xu, L. (2018). Can Your Advertising Really Buy Earned
Impressions? The Effect of Brand Advertising on Word of Mouth.
Mahroum, S. (2016). Red Bull in Fuschl am See: A Special Place for Special People.
In Black Swan Start-ups (pp. 103-117). Palgrave Macmillan, London.
Tzoumaka, E., Tsiotsou, R. H., & Siomkos, G. (2016). Delineating the role of endorser's
perceived qualities and consumer characteristics on celebrity endorsement
effectiveness. Journal of Marketing Communications, 22(3), 307-326.
Wolter, J., Barth, V., Barthel, E. M., Gröbel, J., Linden, E., Wolf, Y., & Walther, E. (2016).
Inside the host's mind: psychological principles of viral marketing. International Journal of
Internet Marketing and Advertising, 10(1-2), 54-89.