Mother Energy Gaining Market Share!
Coke's energy drink 'Mother' has been revitalized thanks to their 2008 product revamp. The 500ml can, new flavour and completely new marketing campaign has allowed them to break the shackles of Red Bull & V and potentially cement a place in the growing energy drink market. So what marketing strategy have they implemented and what have been the results?
Product composition was the main change, a new flavour, 1/2 litre can and text that pokes fun at how rubbish Mother #1 was, but the $3 million advertising campaign was the real driving force. When Coke pulled Mother #1, they were left with a brand awareness that most marketers dream of. A massive 84% of 16 - 29 year old's knew what mother was, but less than 50% that had tried it had made a repurchase. Negative brand equity can be an enormous problem, luckily Coke pulled the pin on product #1 early and the TVC's and print advertising has been distancing themselves from it as much as possible.
The result of the marketing strategy has been sensational (in contrast to 2007). 42% of the target market have trialed new Mother and of that number, 70% have purchased again. The overall result of which has seen them gain somewhere between 12 - 20% market share. Coke executives are estimating turn over will be $696 Million for 2008, up 13% from 2007. The figures do sound excessively high and I'm sure there will be plenty of fluctuation, but don't forget that Coke has enormous channel power in almost every drink vendor in the country!
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