Marketing Plan For Launching Monster Ultra Energy Drink
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This reports explains in detail the marketing plan for launching Monster Ultra Energy Drink. The product is an energy drink and has been approved from the Ministry of Health. A vision and mission statement has been laid out and further an advertising campaign will is undertaken to successfully launch the product in the UK market through different traditional and modern forms of media.
The energy or sports drink industry has seen a sustained growth in the UK over the past years with brands coming up with innovations to target its youthful market. For example, recently, Red Bull introduced ‘Editions’ - three fruit-flavoured variants in blueberry, cranberry and lime- in the UK. This range targets the consumers who like the “Red Bull effect”…show more content… Business was profitable but modest by 1992, when its present CEO Rodney Sacks purchased the company for $14.5 million.
Then, in 2002, Hansen’s made a Monster. The company’s revenue from drink products increased from $50 million in 2003 to $1.7 billion in 2011, according to October report. The jump was because of Monster. So, Hansen’s Natural announced that it would change its name to Monster Beverage. (DuBois, 2012)
The consumption of various energy drinks has been increased tremendously over the past few years, with a number of brands coming up (Marketingmagazine.co.uk, 2012).
The graph given above shows the average consumption of energy drinks per person in the United Kingdom from 2006 to 2014 (in litres). In the year 2006, an average of 3.9 litres of energy drinks per person were consumed in the UK. This increased to 4.4 litres per person in 2007, 6 litres in 2008 and 6.8 litres in 2009. There was a further increase in the consumption of energy drinks per person in 2010 and 2011.In the year 2014, there was a tremendous increase in the expenditure, to 9.4 litres per person.
The graph given above shows the key metrics for selected brands as of June 2015. 76% of the total respondents are aware of the brand Monster and 31% of the population on respondents has ever drunk Monster.
The graph given above represents the rate of consumption (in Litres) of energy