Purchase decision: Buying value
A consumer’s level of involvement in the purchasing process is usually rated from low to high. Monster’s consumers are not overly invested in the purchase decision. They have limited problem solving involvement, examining only few brands, considering only select sellers of products and spending little time searching before making their decision to buy a Monster energy beverage.
Having examined the alternatives (however many); the consumer is almost ready to make a purchase decision. In buying value, the choice of choosing Monster will depend on such considerations as past experience, buying the product/beverage and the location of purchase. Deciding when to buy will include sales persuasiveness, store atmosphere and financial circumstances such as income. From who to buy Monster Energy drinks from would depend on the sellers location; retail stores such as Wal-Mart, Shoppers Drug Mart, various post-secondary institutions and convenient stores all stock Monster beverages. The effects of technology on purchase decisions make it more convenient to purchase Monster beverages and the high profile extreme sport endorsements also strongly influence the purchaser’s decision to buy Monster Energy drinks. Even the marketing for this drink is extreme and edgy, allowing the consumer to assume these characteristics to satisfy their self-perception as well as their desire.
Post-purchase behaviour: Value in consumption or use
The post purchase behaviour of a Monster Energy drink consumer depends on their satisfaction or dissatisfaction of the product or company itself. For instance, customers new and old, who have already tried Monster Energy drinks and are satisfied with it (i.e. quality/taste) will in ...
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From the review of U.S Census on the size of the market segment to which the marketing campaign of Dr. Thunder would target, it has been found that the marketing campaign would target around 3 million Americans. Over the past 10 years, it has been noticed that the target market segment has grown for about 7.7% (United States Census Bureau, 2013). Moreover, the target segment would expand by another 8.9% in the coming ten years. Upon understanding the dynamics of soft drink industry in USA, it is found that the following three factors have an impact on the consumer behavior of this industry:
...three needs onto which the emotional appeal of this ad was directed. Clearly, aside from its pop and hyperbolic effect, it also addresses the emotional side of the audience's perception to ads. The ad is not manipulative in nature and analyses the appeals depicted by the PowerAde. This is a good example of the influential nature of adverts in the general public and can be said that an effective advert must have the appealing nature to ensure that it has an impact in influencing the consumer buying behaviors. The overall appeal of the ad is sufficient and it basically stimulates our emotions in a profound way to challenge us to be successful and at the same time increasing the awareness of the energy drink. The belief that powered brand is the best energy drink is created and the best drink to use to attain ones optimal performance and be outstanding from the rest.
I have chosen to assess Gatorade’s new G Series campaign. It consists of three separate products that are each to be used at a certain point in athletic activity. The first is 01PRIME (Gatorade.com, pictured to the right), it is to be taken 15 minutes prior to activity and has components very similar to an energy drink. It is high in B-vitamins and electrolytes, it’s meant to give a burst of energy right before a workout or competition. The second product is 02PERFORM (Gatorade.com, pictured to the left), which is their original product they’ve been selling for 40 years. It is meant to be consumed during an activity. The only changes are the fancy new name and updated packaging. The third is 03RECOVER (Gatorade.com, pictured below), it is to be taken post-exercise. The product is high in protein and helps the body recover from its exertion. It is comparable to many other post-exercise protein drinks but it also claims to be the first of which that actually quenches your thirst. The audience Gatorade is trying to reach is athletes that want to maximize their effectiveness at their given sport. They are also trying to aggressively penetrate two new markets, energy drinks and post-exercise protein drinks, that they have not previously thrived in, using their flagship beverage as part of the campaign. This campaign is currently running and has been for most of 2010.
The common denominator that all energy drink industry as a whole shares is how much they market to the everyday lifestyle, and that makes it easier for you to want to incorporate the drinks
As per this the authors conducted an experiment with energy drink revealing the importance of motivation as an important factor contributing to placebo effect in marketing.
It is taken for granted that Red Bull is one of the leading companies which is seeking for demanding and offering the best services and products in the field of manufacturing the soft energy drinks all over the whole world. Red Bull has a great opportunity in offering the high-quality products because it always seeking for attracting the great number of population among the world’s countries by applying the required strategies and policies which serve the common interest of the company and give the company the chance to expand its limits among the other competitors of the market who are competing strongly in the field of manufacturing energy drinks.
From what you can see in the (Datamonitor) after 2006 the energry drinks sold just under 400 million more liters then they did in 2006. The market value for energy drink would continue to increase until 2009 when they starteed to decrease the amount of liters sold in the USA. In 2009 and ...
As stated in the case, “the market for energy drinks was growing; between 2010 and 2012, the market for energy drinks had grown by 40%. It was estimated to be $8.5 billion in the United States in 2013 [and] forecasts projected that figure to reach $13.5 billion by 2018” (pg 5). However, much of this market’s revenue -- 85% in fact -- is dominated by five major brands, while the remaining 15% is split between approximately 30 regional and national companies. (pg. 5). With this saturated market, it might not be best for Crescent Pure to enter as a completely new product to the industry, as there is the possibility that it will be squeezed out of the profit shares by more established brands -- especially if it is not properly secure in its identity. In addition, while the market for energy drinks appeared to be growing at an exponential rate compared to the market for sports drinks -- which increased only 9% in five years and would be at approximately 60% of the rate for energy drinks in 2017 (pg 6) -- the consumers appeared to be wary of partaking in the market for several reasons, which would potentially harm the reach of Crescent Pure. These concerns included rising news reports discussing the safety of energy drinks (pg. 5). Taking into consideration the data provided in the case that concerns reasonings of why consumers choose specific drinks over others, there
On page 111, the power of Cultural and Political authority has been discussed. As Mountain Dew was grabbing share points for its brand, Coca-Cola Company’s senior management felt jealous and launched Surge supporting it with a clever campaign by Leo Burnett. However, Surge was abandoned by the consumers in less than two years. Mountain Dew remained on the top because Mountain Dew performed myths that resolve the acute anxieties in consumer’s lives. The Coca-Cola Company failed to understand how brand equity worked for Mountain Dew.
We see that energy drinks and sport drinks are used more frequently in young adults. Advertisement market to young individual to influence them to buy their products. Example, in a Powerade commercial you will see a man out on the basketball court running up and, down the court sweating and chugging a Powerade. This commercial put in the mind of young men that cool men play sports and drink Powerade. To fit into the image that was marketed to the young men you see many young men drinking Powerade and playing sports so, that they can be more like the cool man that was shown on the advertisement. We also see that brands like Red Bull and Monster sponsor NASCAR, Big Truck races, and Dirt bike races. These people who take in these activities are role models to many young adults. With sponsorship from energy drinks you will see many fans consuming the product. Energy drink and sport drink brands target people as consumers and, find ways to make money from
From just one restaurant in San Bernadino, California, run by two brothers, McDonald’s has grown to become the best known and most popular fast food restaurant chain in the world.
The beverage industry is highly competitive and presents many alternative products to satisfy a need from within. The principal areas of competition are in pricing, packaging, product innovation, the development of new products and flavours as well as promotional and marketing strategies. Companies can be grouped into two categories: global operations such as PepsiCo, Coca-Cola Company, Monster Beverage Corp. and Red Bull and regional operations such as Ro...
In order for PepsiCo to be successful in selling Pepsi Platinum, the company must research the marketing community. The best way to create a strategic marketing plan is to understand the target market in the beverage and sports drink business. PepsiCo must ask, “What is the demographic of this market, what are psychographics and behaviors of the specific market that PepsiCo, in regards of selling this brand, desires to reach?” Understanding our customer needs, and competitors offerings will help PepsiCo create a strategically integrated marketing plan. The principal to any successful marketing strategy is to understand the customers and their needs. The ability to satisfy customers' needs better than the competitors, will first be, that PepsiCo build customer loyalty and increase sales (Business Link, 2007). Marketing research uses many methods to obtain its results. PepsiCo will use external census data and marketing survey data collected by outside marketing research firms, as a method of understanding customer wants and needs. Computer-aided methodologies will also be used to collect data on the competitors of PepsiCo such as Coca Cola, Jones Soda, and Mo...
In 2002, unexpected findings of a market research showed problems regarding customer satisfaction and brand meaning for Starbucks customers. The situation was unacceptable for a company whose overall objective is to build the most recognized and respected brand in the world. Starbucks was supposed to represent a new and different place where any man would relax and enjoy quality time, alone or with others. But the market research showed that in the mind of the consumers, Starbucks brand is viewed as corporative, trying to expand endlessly and looking to make lots of money. This huge gap between customers' perception and Starbucks' values and goals called for immediate action.
There are three basic human needs that Red Bull satisfies, physical, social and individual needs. ‘Human needs are states of felt deprivation… marketers do not invent these needs; they are a basic part of human makeup…People in industrial societies might try to find or develop objects that will satisfy their needs.’ (Kotler et al. 2006)