Friday, July 13, 2012
Progress
Our group has decided to do a marketing plan based on a new energy drink called Starik energy. Everybody in our group was in favor of it, and look forward to working on the project. We decided to focus on an energy drink mostly because it was a product we were all familiar with. Also, energy drinks are more popular with younger people, so it is easier for us to understand how to market them and who to market to. We decided to direct our marketing to college students, mostly to create brand familiarity. Our main strategy is to market our energy drink at a lower price than the premium coffee drink, giving students an incentive to choose our product rather than a coffee drink. We will try to explain to our customers that our product will provide the same energy boost at a lower price.
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There is definitely a market demand for energy drinks, so it should be easy to interest an audience in your porduct.
ReplyDeleteWill this drink be more like a coffee or other energy drinks like Monster, Redbull, and Rockstar? Carbonated or not?
Same energy boost at a lower price is always welcome in my opinion, I would definitely try it out. I think with your idea of marketing it to young people in relation to your knowledge of the product is always reassuring!
ReplyDeleteI have been looking for effective energy drinks instead of keeping drinking coffee. I am not sure that the coffee have effect to stay up and give healing. I like their smell though. Before I had feeling exausted after I drank Rockstar. They gave just little bit refreshment but it didn't last long and I ended up feeling so tired. So, I hope I would find good one though this marketing plan.
ReplyDeleteI think that this product may be very successful in the college demographic. There will always be tough competition with other energy drinks such as Monster, Rockstar, AMP, and so forth but if your are guaranteeing the same at a lower price there is a likely chance customers will convert, since many college students cannot afford very expensive things. You would be a good promoting opportunity to give samples of the new flavors at venues on campus as a start up. There you can have students suggest flavors, or give raffles for a few samples for a month or so. Something that will grab the attention of the prospective customers so that you can build a relationship with them.
ReplyDeleteI look forward to hearing more about your plan!
This is a great idea for the average college student. Going to class, working and dealing with extra curriculars is always strenuous and with energy drink prices so high it is hard to justify buying them often. If you were able to create a cheaper energy drink which would work as an alternative to coffee this would be great!!
ReplyDeleteI think that using college students as your target market is a good idea since they are probably the most common group that would drink energy drinks. This target market also presents a great range of ages, since college students at this time are anywhere between the ages of 18 and about 35 years old. This age group in today's society is constantly on the move, with either school or work and need something to keep their energy up, which is where your energy drink would become a great substitute for coffee products.
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