Synergy Energy Drink Marketing Report Plan
SYNERGY ENERGY DRINK
MARKETING PLAN
Prepared By:
Damien Rossetto
George
Scott
Aditya
Prepared For: MKTG600
Table of Contents
Executive Summary
This marketing plan report on Synergy energy drink, an Australian owned and produced company provides an analysis and evaluation of the current and future performance and marketing strategies for the future growth and establishment. Being one of the leading brands of energy drinks in Australia, its main competitors are Red Bull, ‘V’ and Mother. Beginning with the introduction and then the environmental analysis which indicates the trend and consumption of energy drinks in Australia and worldwide. Followed by a SWOT analysis of Synergy energy drinks and then there are the marketing goals and objectives that needs to be achieved for the re-launching their brand of energy drinks. Furthermore, there is the marketing strategy for different target markets and ages along with the implementation plan and method of these strategies and later on is the success evaluation of the synergy re-launch along with the qualitative measures to be implemented.
Introduction
Synergy Energy Drink, from an Australian owned and produced company, came to fruition in 2009, and entered the ever-competitive Australian energy drink market.
Statistics from 2007 reveal that the Australian energy drink market is worth $325 million, up from approximately $200 million in 2004. At the time, two products in Red Bull and V dominated the market – capturing 90% of the market share. Coca Cola, in their failed attempt to initially capture a slice of the market, reformulated their Mother energy drink in 2008 backed by a $3 million advertising campaign. As a consequence of successfully reformulating and relaunching their Mother drink, Coca Cola at present holds approximately 30% market share – eroding the once dominant positions of Red Bull and V. In response to this, Red Bull and V have both added additional product lines into the market place –
MARKETING PLAN
Prepared By:
Damien Rossetto
George
Scott
Aditya
Prepared For: MKTG600
Table of Contents
Executive Summary
This marketing plan report on Synergy energy drink, an Australian owned and produced company provides an analysis and evaluation of the current and future performance and marketing strategies for the future growth and establishment. Being one of the leading brands of energy drinks in Australia, its main competitors are Red Bull, ‘V’ and Mother. Beginning with the introduction and then the environmental analysis which indicates the trend and consumption of energy drinks in Australia and worldwide. Followed by a SWOT analysis of Synergy energy drinks and then there are the marketing goals and objectives that needs to be achieved for the re-launching their brand of energy drinks. Furthermore, there is the marketing strategy for different target markets and ages along with the implementation plan and method of these strategies and later on is the success evaluation of the synergy re-launch along with the qualitative measures to be implemented.
Introduction
Synergy Energy Drink, from an Australian owned and produced company, came to fruition in 2009, and entered the ever-competitive Australian energy drink market.
Statistics from 2007 reveal that the Australian energy drink market is worth $325 million, up from approximately $200 million in 2004. At the time, two products in Red Bull and V dominated the market – capturing 90% of the market share. Coca Cola, in their failed attempt to initially capture a slice of the market, reformulated their Mother energy drink in 2008 backed by a $3 million advertising campaign. As a consequence of successfully reformulating and relaunching their Mother drink, Coca Cola at present holds approximately 30% market share – eroding the once dominant positions of Red Bull and V. In response to this, Red Bull and V have both added additional product lines into the market place –
References: (2009). Australian consumers give energy drinks a boost. MarketWatch: Drinks, 8(12), 13. Retrieved May 5, 2010, from Business Source Complete database. Bryce, D., & Dyer, J. (2007). STRATEGIES TO CRACK: WELL-GUARDED MARKETS. Harvard Business Review, 85(5), 84-92. Retrieved from Business Source Complete database. (2010). Drink. Australia Food & Drink Report, 34-46. Retrieved May 5, 2010, from Business Source Complete database.