The Product that I have chosen is Monster Energy. Monster Energy is a caffeinated drink, which was presented by Hansen Natural Corporation in 2002. There are 34 distinctive caffeinated drinks under the Monster brand, which includes the regular flavor, which can be recognized by its dark can with the green tear, which is the logo that Monster uses for all its drinks.
The company is known for supporting numerous extreme sports, for example, motor cross, speedway, snowboarding and skateboarding and other sports. In addition to this, Monster Energy supports and sponsors music bands around the globe.
“Companies with a marketing orientation focus on customer needs as the primary drivers of organizational performance”
(Fahy and Jobber, 2012, page
Click here to unlock this and over one million essaysGet Access
I. The rush that takes over your body when you take a sip of that refreshing drink keeps you wanting more. The power you feel after consuming this product, makes you feel alive and well enough to climb the tallest tower. II. Has it ever crossed your mind, what exactly is an energy drink?
Monster Objectives Hansen has jolted the Monster brand with a dose of guerrilla marketing. Teams of Monster ambassadors ' ' give out samples of the product at concerts, beach parties, and other events. The company also sponsors motocross, surfing, and skateboarding competitions. Hansen representatives in black Monster vans supplement the company 's network of 300 independent distributors by assembling store displays and restocking specially designed racks in
Core Firm companies that directly compete with Monster Beverage’s energy drinks that are noted in their Annual Report for 2016 are Coca-Cola Co (TCCC), PepsiCo, Dr. Pepper Snapple Group, and Red Bull Gmbh.
There are (3) reasons why I have chosen energy drinks as my NAB. First off, there is a growing market for energy drinks. Red Bull and Monster Beverage Corporation, together, form over 80% of domestic energy drinks volumes by estimates. Dollar sales for energy drinks grew almost 6% to $6.67 Billion in measured channels in 2013, which propelled sales growth for convenience stores (Team, 2014). A growing thirst for caffeinated “energy” drinks, which include the likes of Red Bull, Monster, and Rock star, has spurred a heart-thumping surge in sales. Globally, the energy drink industry has gone from a $3.8-billion business in 1999, to a $27.5-billion
Marketing is a management function which involves creating, communicating and delivering value for an organisation’s customers (Kotler, Brown, Burton, Deans & Armstrong (2010). Although many earlier academics define marketing as merely a process of satisfying customer needs in order to gain profits, more recent developments of the definition include its inherent connection with delivering superior value to customers in order to maintain ongoing relationships (Webster, 1992).
Energy drinks have outperformed the growth in carbonates in the last few years, and present a substantial opportunity for beverage manufacturers to extract further growth from their sales. There are many driving forces of change and critical success factors in the energy drink industry. Companies such as Coke Cola and Pepsi contend with criticism from health officials due to the excessive caffeine in most high-energy drinks. However, before the 2000’s consumers were accustomed to carbonated soft drinks as the traditional beverage. The shift to an energy drink, sports drink, and vitamin enhanced waters increased sales while becoming an alternative beverage choice for a fast-paced mobile society. Therefore, this industry endures many
Monster Beverage Corporation (MC) is a California based company that manufactures energy drinks, sodas, and juices. The company, formerly named Hansen Natural Corporation, was founded in 1990 and sells beverages in over 200 countries. MC launched the Monster Energy brand in 2002 in an attempt to compete with Red Bull. The Monster Energy brand consists of over 30 beverages that range from lemonade flavored to those that are enhanced with protein. Since its launch, the Monster Energy brand has become one of the largest energy drink products in the US.
For an organization to beat the competition, they need to understand what the consumer wants. Marketing concepts are based upon consideration on what the organization’s customers need and nourishing these needs better than the
It would have been good if this fundamental vision was in place right at the very beginning of the company’s formation. In the end it is the customers that make the company, so it makes sense to work towards satisfying this customer relationship. To become profitable and achieve market share are secondary objective that can be measured on a annual basis and overall company well being targets can be rewarded with incentives that link into the company’s performance as opposed to individual contribution to the company’s success.
In today’s modern era, the world is moving faster than ever, every organization is running a race of gaining maximum market share, and so as the customers, for their organization’s long-term growth but only those companies who transform themselves according to the need and requirement of the customers are able to achieve success and profit they desire and that’s what exactly said by Theodore Levitt (Head of the Marketing area at the Harvard Business School) in his article “The Marketing Imagination”.
When it comes to Monsters Energy there are a few threats they have like competitors, government regulations, people learning about the harm from energy drinks, and people moving to healthier alternatives. Monsters biggest threat to their business it would be one of their competitors, Red Bull. In 2015, Red Bull had a market share of about 43%, while Monster in a close second had 39% of the market, allowing them to have that slight advantage (“Packing a punch”, 2016). With them each having two of the top four energy drinks sold in the United States the competition is fierce ("2017 State of the Industry", 2017). However even though there are none at the moment, Monster will have