1) Prateek Dassani
2) Priyanka Sharma
3) Rikin Dharani
The objective of the task is to increase the market share to 10% in a span of one year. This can be done by various methods; hence we have put forward all the available option thorough which this can be achieved. With all the available options presented we would suggest a final communication strategy based on our understanding and knowledge. The main aim of the brand should be to increase visibility currently and grabbing customer attention. This will help in capturing the market share, though the marketing strategy is expensive, a detailed analysis of it will give you an insight regarding the positive outcome of the plan. Presently the objective is to gain consumer attention and improve market standing.
CHALLENGES FOR ENERGY DRINKS-
• The caffeine content in energy drinks is perceived as an addiction causing things by many consumers and it may bring the companies under the scanner of the regulatory authorities
• There is no higher limit set on the maximum quantity of the caffeine that can be used in these drinks and hence the limits vary and so consumer awareness is necessary before consuming them
• Private labels may deter their position as they gain premier shelf space and hence may move fast thereby eating into their profits
• People are suspicious of consuming these drinks as they are generally sold at pubs and discos and hence there is a misconception that they too are alcoholic beverages.
• These products can’t be mass marketed because they may have detrimental effects on the health of children and people who have certain diseased condition or some physiological disorders.
• There is no proof of what will be optimum dose for all as it may vary from person to person.
• Caffeine containing energy drinks will lose on points where the competitor’s product contains natural ingredients.
• Pricing is premium for these products which is also a major hurdle affecting the sales figure.
Market for energy drinks-
• The market for energy drinks in India is growing at 10 times the global growth rate at above 50 percent both on trade and off trade.
• The increasing health consciousness among Indian youth has certainly benefited the noncarbonated segment such as energy drinks.
• The growth in this segment is mainly coming from the metros
• It is a very niche market with the target audience being in the range of 18 to 35 years
• Red bull is the market leader with 70 percent of market share
• Coke burn lags far behind with market share off trade of 2.6 percent.
Current situation of coke burn-
• It has proved to be black sheep of coca Cola Company so far
• In spite of having brand value of coke in its forte it hasn’t been able to leverage that advantage
• It is currently distributed at select few locations in only 3 metros.
• It lacks a face in form of someone with a strong persona who resembles the identity of the brand and the product.
• It is suffering from lack of awareness of the brand and still the market itself hasn’t reached its full potential.
Key Challenges for the brand and its communication-
• The brand coke is an established in the carbonated drink segment and this may harm the brand Coke Burn.
• The brand visibility of Coke Burn is less in compared to the competitors in the same segment.
• The market is niche hence the area of advertisement is confined. The competitors have absorbed the available area. Thus the task of marketing is uphill.
• Differentiation between the brands is difficult.
• Awareness of...