We were assigned the job of analyzing the Energy Drink sector so that we can predict its trend and give an investment decision to a financer, who has got enough money and want to invest in this sector. We started our research and it was based on an immature market which lacks education regarding energy drinks. Also there are numerous existing and potential competitors on the rise which will stiffen the competition level and distribute the market share.
“How is one to market an energy drink when the market does not relate with the product”
The foremost problem which we faced was that the target market of Pakistan differs from other markets so it is a tough job for the energy drink market players to introduce their product and educate about it to their target market. Furthermore Pakistani market has false affiliation of Energy Drinks with alcohol.
For our research we analyzed the market through questionnaires, interviews and indirect observations. The questionnaires will be filled by our potential target market and will be aimed towards individuals who belong to teenage and younger age bracket. After identifying our target market by the help of questionnaire we will conduct interviews with our newly established target market. Secondary data will also be collected in order to identify our competition. It will also be used to get financial figures regarding other energy drink companies. We will further try to get a view of the marketing strategies which are used by the energy drink companies and if they are helpful to them, has it actually helped them to increase the target market share.
After the rigorous and thorough research work which we carried out, we found out that Red Bull is the market leader. After studying there marketing strategies it was evident that they have a strong market share