Vitamin Water
EXECUTIVE SUMMARY:
This project is about VITAMIN WATER. It covers the core concepts that are involved in the production, development and implementation of this product. Taking an initiative and launching a new product for the local market, this concept involves giving a new era to the mineral water. This report guides about the product attributes, boosting its phases to penetrate through target market identification and segmentation, planning for market positioning, effective pricing strategy, how to promote it to the public through different mediums and sources.
Introduction:
Energy Brands, Inc. was founded in 1996 by J. Darious Bikoff. It is based in Whitestone, New York. As of June 7, 2007, Energy Brands, Inc. became a subsidiary of Coca-Cola Co. The Coca-Cola Company had been looking to expand its portfolio. They bought Vitamin Water maker Glaceau in a cash deal valued at $4.1 billion.
In 2007, the functional beverage market reached $9.8 billion. From 2002-07, there was an increase in the market of 30% at current pricing, and 14% after accounting for inflation. These numbers reflect the health and wellness movement in the United States, as people are now trying to select healthier food and beverage options. In 2002-2006, the number of people trying to eat healthier increased by 30 million. Ready-to-drink, functional tea, enhanced bottled water and sports drinks are leading the way with use highest among consumers ages 18-34, as well as among households with children. Many of those in this younger age bracket see these drinks more as a hip, lifestyle beverage.
These consumers select brands of beverages just as they select the “in” brands of clothing. Market gains have to do with teens and young adults who flock to the energy drinks and enhanced waters, as these consumers understand these drinks’ rebellious, taboo and/or trendy images.
Customers are now demanding more from the beverages. Instead of just being thirst quenching, these drinks must have
This project is about VITAMIN WATER. It covers the core concepts that are involved in the production, development and implementation of this product. Taking an initiative and launching a new product for the local market, this concept involves giving a new era to the mineral water. This report guides about the product attributes, boosting its phases to penetrate through target market identification and segmentation, planning for market positioning, effective pricing strategy, how to promote it to the public through different mediums and sources.
Introduction:
Energy Brands, Inc. was founded in 1996 by J. Darious Bikoff. It is based in Whitestone, New York. As of June 7, 2007, Energy Brands, Inc. became a subsidiary of Coca-Cola Co. The Coca-Cola Company had been looking to expand its portfolio. They bought Vitamin Water maker Glaceau in a cash deal valued at $4.1 billion.
In 2007, the functional beverage market reached $9.8 billion. From 2002-07, there was an increase in the market of 30% at current pricing, and 14% after accounting for inflation. These numbers reflect the health and wellness movement in the United States, as people are now trying to select healthier food and beverage options. In 2002-2006, the number of people trying to eat healthier increased by 30 million. Ready-to-drink, functional tea, enhanced bottled water and sports drinks are leading the way with use highest among consumers ages 18-34, as well as among households with children. Many of those in this younger age bracket see these drinks more as a hip, lifestyle beverage.
These consumers select brands of beverages just as they select the “in” brands of clothing. Market gains have to do with teens and young adults who flock to the energy drinks and enhanced waters, as these consumers understand these drinks’ rebellious, taboo and/or trendy images.
Customers are now demanding more from the beverages. Instead of just being thirst quenching, these drinks must have