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Extreme Energy Drink

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Introduction

Extreme Energy Drink Principles Of Marketing November 30th, 2009 This paper is the result of a group assignment for Principles of marketing in which we as a group had to think about a new product that can be developed for an existing company. The course material was there to sustain our idea. Table of Contents Introduction 3 New-product development and product life cycle strategies 4 Branding Strategy 7 Pricing 11 Distribution 13 Promotion 15 Conclusion 17 INTRODUCTION Lacking energy every day? Extreme Energy Drink is your solution. Energy drinks are non-alcoholic, often lightly carbonated beverages that are designed to give the consumer a burst of energy by the addition of a number of energy enhancing ingredients, most notably caffeine. Despite warnings that energy drinks should not be mixed with alcohol, they have nevertheless become quite popular at bars and clubs. Energy drinks are commonly available in grocery stores, corner stores and gas stations, usually displayed alongside soft drinks, juices and sports drinks. The Company The Curacao Beverage Bottling Company NV produces and cans our new product the "Extreme Energy Drink". This company has over 60 years of carbonated beverages experience in Curacao, which is the ideal company to introduce a new line of beverage besides their soft drinks. Marketing Environment Energy drinks are now a very noticeable convenience product readily available in many locations when customers need them. Energy drinks are currently enjoying a growth in popularity and marketing presence and newcomers to the scene seem to be popping up constantly. Over 200 new energy drinks hit store shelves in 2006, according to the market research firm ACNielsen. Led by such brands as Red Bull, energy drinks are a $3.7 billion dollars industry whose revenues have increased by 51 percent in the past year alone. So this is a big industry with many opportunities awaiting. Many energy drinks have names that convey strength, power, speed, and sexuality (such as "Shark", "Climax", and "Monster"), and many energy drinks are being marketed primarily to a male crowd, between 18-30 years old. ...read more.

Middle

, licensed brands or as a co brand. In our case manufacturers' brand is the best option at this time, it is a new product and to make it noticeable to consumers its best to have a sponsorship that is already known to the consumer so we can attract customers faster. They might feel loyal to the manufacturer's brand which would help us exceptionally. Brand development A company has four choices when it comes to developing brands. It can introduce 1. Line extensions (existing brands names extended to new forms, sizes, and flavors of an existing product category) 2. Brand extensions (existing brand names extended to new product categories), 3.Multibrands (new brand names introduced in the same product category) 4. New brands (new brand names in the new categories) Our product's brand development choice is of multibrand. The Extreme Energy drink is a new brand name but is in the same product category of beverages in which Coca-Cola operates. Support services Our first step will be to survey customers from time to time to evaluate the value of current services and to obtain ideas for new ones. In the first two years of the introduction of Extreme Energy Drink, we will do this every 6 months and after the first two years every year to keep in contact with our customers. Product line a product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges. Our product line consist of the different flavors of our Extreme Energy drink such as Original Blue, Mango, Coconut, Cranberry Grape Blast, Tropical Blast, "0" with no sugar and no Carbohydrates, and the Vitamin Energy Power Shot. Line stretching Product line stretching occurs when a company lengthens its product line beyond its current range. ...read more.

Conclusion

Radio: we will have a spot on every radio station on Curacao that would play at least once a day. 6. Internet: We will have an ad of the Extreme Energy drink on websites of companies on Curacao. Sales promotions The sales promotion of the product will be that we will distribute coupons, stickers for cars, flyers, and we will have various contests. Public relations To promote the product we will have our PR representative go on radio stations and local TV shows for interviews. Other ways are holding and hosting events Personal selling Under personal selling, we will have trained salespersons go to different neighborhoods to personally speak and introduce the product to consumers. We will also have a sampling table in various supermarkets to give customers of those supermarkets free samples for tasting of the product and communicate with them to get their feedback. We will also have a promo-van, which will distribute all over Curacao. Direct marketing Our direct marketing will consist of the following: Direct Mail: we will send emails consisting of information about our product, ads, and also put a link to the website of the product. We will also have brochures. CONCLUSION Extreme Energy Drink is a new product to the Coca-Cola Company that can target a new type of customer. The product will be better than competitors concerning taste, vitamins, flavors, packaging and price. With the curiosity of our people, we think that this product should do great in Curacao and be profitable. There is always somebody who would ask why they don't have more time in a day or feeling sleepy when personal tasks aren't even finished yet. Maybe they were just tired and causing inefficient efforts. With a product such as Extreme Energy Drink, they won't have any more complains. It will give them energy to do what they have to, in the time period that it has to be done. Anyone who needs energy or is lacking energy, this Extreme Energy is for you and will not fail you. ?? ?? ?? ?? ...read more.

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