Case Study: Monster Energy Bars
Monster Energy Bars
To Recharge the World
November 26, 2014
Table of contents
Introduction
2
Mission Statement
2
Macro environment Analysis
2
Demographic
3
Economic
3
Natural
3
Technological
3
Political/Governmental Regulations
3
Cultural
3
Market Segmentation
3
Geographic Segmentation 3
Psychographics Segmentation 4
Behavioural Segmentation 4
Demographic Segmentation 4
Target Market
4
Market Segmentation and Target Market(combined)
5
Segments in Pie Chart
5
Multi Segments
6
Marketing Mix
6
Product
7
Price
8
IMC
8
Channel Strategy
9
Product Life Cycle
10
Budget
11
Communication Plan
12
References
13
Introduction:
Have you ever thought …show more content…
As monster energy bar is the source of energy which is targeted for youth, sport’s athletics and corporate people. The potential in the sports nutrition market is around US $4.6 Billion (Euro monitor International 2010). Also is important that the maturity in energy drinks market drives the opportunity to expand the market towards the energy bars, in order attract new customers. The proportion of residents by province shows that British Columbia has the highest rate with 64% of people physically active followed by Yukon with 66% and Ontario the third with 54% (Canadian Community Health Survey, n.d.).
Psychographics Segmentation: The psychographics segmentation is based on various aspects like social class, lifestyle and personality characteristics. This segmentation will help us to identify the people from different lifestyle, their values and beliefs.
Behavioural Segmentation: This segmentation will help Monster to segment their customers on the basis of usage of the product. The consumption of the bars will help us to segment the product to the target customers. Mostly customers are going to use for snack purpose, instant energy or during hectic work …show more content…
The brand reputation of Monster Inc. will play a vital role since it’s well established and have their expertise in the energy drink and now the energy bar area. The product has the potential to become a huge success in other parts of Canada as well. Its features are advantageous to individual of all age groups especially athletes and other people living a busy and hectic life.
Product Lifecycle
“The product will last long as there is a great demand for it and as it targets the present as well as future generations to come. Since energy bars is the growing trend it is still in the growing stage in the product life cycle. This product will continue growing. However the monster energy bar is still going to start from the introduction phase, but owing to the brand image and popularity of the product this bar will have a huge growing stage.” (Adam Link, 2010)
Introduction- The product launch will be with intensive marketing strategies and skimming prices. The packaging of the product will be vibrant and attractive to attract customers to buy the product. The energy bar will be launched only in Canada to test customer reactions and analyse how the product is doing in the
To Recharge the World
November 26, 2014
Table of contents
Introduction
2
Mission Statement
2
Macro environment Analysis
2
Demographic
3
Economic
3
Natural
3
Technological
3
Political/Governmental Regulations
3
Cultural
3
Market Segmentation
3
Geographic Segmentation 3
Psychographics Segmentation 4
Behavioural Segmentation 4
Demographic Segmentation 4
Target Market
4
Market Segmentation and Target Market(combined)
5
Segments in Pie Chart
5
Multi Segments
6
Marketing Mix
6
Product
7
Price
8
IMC
8
Channel Strategy
9
Product Life Cycle
10
Budget
11
Communication Plan
12
References
13
Introduction:
Have you ever thought …show more content…
As monster energy bar is the source of energy which is targeted for youth, sport’s athletics and corporate people. The potential in the sports nutrition market is around US $4.6 Billion (Euro monitor International 2010). Also is important that the maturity in energy drinks market drives the opportunity to expand the market towards the energy bars, in order attract new customers. The proportion of residents by province shows that British Columbia has the highest rate with 64% of people physically active followed by Yukon with 66% and Ontario the third with 54% (Canadian Community Health Survey, n.d.).
Psychographics Segmentation: The psychographics segmentation is based on various aspects like social class, lifestyle and personality characteristics. This segmentation will help us to identify the people from different lifestyle, their values and beliefs.
Behavioural Segmentation: This segmentation will help Monster to segment their customers on the basis of usage of the product. The consumption of the bars will help us to segment the product to the target customers. Mostly customers are going to use for snack purpose, instant energy or during hectic work …show more content…
The brand reputation of Monster Inc. will play a vital role since it’s well established and have their expertise in the energy drink and now the energy bar area. The product has the potential to become a huge success in other parts of Canada as well. Its features are advantageous to individual of all age groups especially athletes and other people living a busy and hectic life.
Product Lifecycle
“The product will last long as there is a great demand for it and as it targets the present as well as future generations to come. Since energy bars is the growing trend it is still in the growing stage in the product life cycle. This product will continue growing. However the monster energy bar is still going to start from the introduction phase, but owing to the brand image and popularity of the product this bar will have a huge growing stage.” (Adam Link, 2010)
Introduction- The product launch will be with intensive marketing strategies and skimming prices. The packaging of the product will be vibrant and attractive to attract customers to buy the product. The energy bar will be launched only in Canada to test customer reactions and analyse how the product is doing in the