Final Monster Energy Bars

Have you ever thought of eating vital force take ups resembling Red Bull, monstrosity, AMP, NOSE and Rocks instead of drinking. We be non talking somewhat any food item which enforce take you hours to cook food. It is non a produce which comes in a large box or you flip to heat it. Instead, we ar launching a intersection point which testament save your time in cooking when you entrust eat it allow give up you instant life force, nutrients and vitamins with quadruple delicious and tempting flavors. The wait is e realplace Its a launch of a overlap which is kn testify as the Tempter faculty interdict, the name says it exclusively.It is a veto which provides nothing and revalidated as suggested by our tagging To Recharge the World lusus naturae Beverage corporation, always believed in innovating new crossroad with different flavors and proved themselves by satisfying client taste buds. Monster is leading in the commercialise for muscle drinks in terms o f flavors. The betoken group for Monster null shut is 19 to 33 years chief(prenominal)ly individuals who live an restless sports living, corporate professionals, students, restless youth. The crossway ing rubyients include various health factors related to our daily life.Packed with all natural ingredients such(prenominal) as harvest extracts, rotten, cocoa and caffeine, Monster Energy Bar is a great source of push on the go. In the present scenario most mess leaving a industrious life often is avoiding healthy food and the necessary protein and calories intake which lowlife feat health issues. Offering most of the great flavors and ingredients featured in push drinks, Monster Energy Bar is likely to appeal all animate Monster Energy drink fans and new consumers. Mission Statement We very believe that time is the most valuable asset.Our principal(prenominal) goal is to give our clients the most natural, nutritious and great tasting energy in the rapid way possibl e. We appreciate each and single one Of our customers and we know that our supremacy and growth comes from not only meeting their ask, notwithstanding exceeding expectations of our sure consumers. We, as a team work really hard, to insure that we throw surprising and inspiring our customers with great new flavors. It makes us happy if our product aided someone to begin a more productive day, reach the ending line, or simply go that extra mile.Macro environmental analysis The macro environmental analysis is essential for the company. This analysis leave alone help us to know whether the outside forces ar beneficial for the galore(postnominal) or not. The infra ar the forces which will help to determine the analysis for the product demographic forces will help to analyses the gender, age, income, and location. Monster Beverage club already has its own object lens commercialize, since Monster Energy Bars is a new product in terms of category and the aim is to provide e nergy on the go.The aim grocery will be male and female in the midst of the age group of 19 to 33 years. The Monster Energy Bars atomic number 18 determined in such a way that youth such as students as wholesome as professional (corporate deal) can feed it. Strategically, location is stained where here is lot of sports activity, young students and commercial place are located. Economic Sports nutrition is non-essential necessitateed by customers, so the affordability plays an important role to market. The former(a) factor which can impress is inflation.During inflation the spending habits of the people will change. Also, sports nutrition and particularly energy drinks and energy nix are find after the economy recession and appear to still growing. (Canadian conjunction health Survey, 2005) Natural Forces The natural forces which affect the products are natural calamities like earthquakes, floods, cyclone, and so on The other product ingredients related natural forc es for energy seal offs declare Caffeine and Turin as their major ingredients which in spunky intake be considered not good for health.This is creating a shift to natural resources such as grains, natural caffeine or fruit based for health reasons. proficient New trends are emerging in the sports nutrition individual(prenominal) line of credit which is pore on the delivery of new experiences through the development of new engineering science to improve the manufacturing process. Political/Governmental Regulations The political and government regulations may affect the product. Food and drug administration may regulate the product because Monster Energy Bars contain caffeine content and other energy enhancements.The other impact which can affect the product is change in the government, new rules for the specific industry / category and changes in taxes. Cultural Forces It is easily known fact that Canada is multi-cultural- It has a diverse cultural where people are coming ac ross the world. Although people are from different culture the main priority is healthy and convenient life style, and sports nutrition products (I. E. Energy bars which provide energy) are the extract to satisfy this convey. The sports nutrition is segmented in main categories body builders, Pro / Amateur athletes, recreational users and lifestyle users. Canadian Community Health Survey, 2005) Marketing sectionalization We will segment the market on the basis of Geographies, Chirographys, Demographics and Behavioral. Geographic Segmentation This segmentation will consist of our stooge market location. As monster energy bar is the source of energy which is targeted for youth, sports athletics and corporate people. The authority in the sports nutrition market is about IIS $4. 6 Billion (Euro monitor International 2010). Also is important that the maturity date in energy drinks market drives the opportunity to expand the market towards the energy bars, in order attract new cus tomers.The proportion of residents by body politic shows that British capital of South Carolina has the highest rate with 64% of people physically active followed by Yukon with 66% and Ontario the third with 54% (Canadian Community Health Survey, n. D. ). Chirographys Segmentation The chirographys segmentation is based on various aspects like social class, lifestyle and personality characteristics. This segmentation will help us to identify the people from different lifestyle, their aloes and beliefs. Behavioral Segmentation This segmentation will help Monster to segment their customers on the basis of usage of the product.The consumption of the bars will help us to segment the product to the target customers. in the main customers are button to use for snack purpose, instant energy or during hectic work schedules. Demographic Segmentation The demographic segmentation will help to segment the market on the basis of different status from customers. Monster Energy Bars will also b e perceptual experience in another way because it is not just a natural bar. It is an energy bar which is healthy and active, targeting age group from 1 9 to 33 years.Also, the way We use to segment the marketing is considering the physical activity in the population by Age, Income, Gender, and physical activity preference in Canada. The domicile income play an important role a report shows that 32% of people with the highest income are physically active followed by 29% of high middle and 26% with middle household Income (Canadian Community Health Survey) Genders both Female & Male (with higher focus on males) Age 19 to 33 province main focus and launch British Columbia and Ontario MarketSegments Young working professionals, college students and sport oriented, athletic people Income level warmheartedness to high Income Market Segmentation and Target Market The target market are based on the statistics that shows that the age range is important to consider because young men and w omen from 12 to 18 are physically active, we cannot target people under 18 due to ingredients in the energy bars and also the price is also a factor for the segment. The target market for our segment is 19 to 33 years which align very well with our product.To launch the product we will focus on Vancouver, BC where sports s jogging, biking and swimming are the most common for the people and finally the income household targets from Middle to High in zones as Anymore, Bellary, Greater Vancouver, Lions Bay, North Vancouver, tungsten Vancouver (Census Data, Statistics Canada, National Housing survey, 2001). Multi-segments Our product is multi segment because Monster E Bar can benefit any type of consumer by providing instant energy. beginning(a) Segment Young males and females involved in various sports and recreational activities. ND Segment Youth, college students and young working professionals. Is your product designed for consumers or business or both. Why? The product is designe d for consumers. Today consumers are very busy in their day to day life. Consumers are handout out for long hours they can grab this bar and select it anywhere. Its for the people who needs source of energy, workout and for the students keep back very hectic schedule, many occasions they are rushing for meetings and usually skip their meals. This bar is existence very useful for them it will keep them active and provides the ARQ aired energy.Why is the target market you selected profitable, sustainable, and how does it align with your product? The target market is profitable and sustainable because Monster Energy Bars has the potential to satisfy the customer needs by delivering the additional energy for the physically active people and professionals with busy work hours which directly align our target market. The initial launch itself is with four different flavors which will provide consumers to try new and different options Also, inwardly the segment the household income of the target market is good and they will retain the willingness to pay for the product.Decision on New Product Name Strategically we have opted for name Monster Energy Bar. Monster Beverage Corporation has its own goodwill and very well renowned in the market for its energy drinks product. We chose this name because this company is well established and has provided various options to consumers in terms Of flavors and preferences. It is a new product that never existed beforehand. It is energy drink that is in form of a bar. Monster Energy Bar is a new kind of energy bar based on ingredients and flavors of alive energy drink Its the first time when the energy drink is introduced in a form of Monster. Bar. Monster Energy bar is a soft and moist bar infused with combination f cacao, coffee and fruit flavors. It is the first and only energy bar on the market that does not consist of granola, oats, nuts and dried fruits, and is completely opposite to the rest of crunchy and tough gran ola energy bars. Has absolutely different texture than a regular energy bar on todays market. A 2009 Angus Reid survey for Contra Foods Canada found that 53% of working Canadians spent their lunch delay reading, surfing the Web, or not stopping for lunch at all.If they do stop for lunch, they only break for 16-30 minutes, speaking to the need for convenience. Other attributes are also needed-?32% are expression for healthy ingredients, 25% are looking for look, and 17% are looking for flavor. (CNN Newswire Company, 2009) Our product is created to solve the issue above. It combines all natural, high quality and great flavors that along with compact size makes a perfect option for a quick, nutritious meal substitute that not only tastes great, but provides strong source of energy.Product Strategy The main scheme of our team is debut of new, innovative and best fit solution for consumers when it comes to satisfying a need for extra energy. Our product is created to not only attra ct new potential consumers and early adopters who are willing to pay a higher price for a great quality but entice already live consumers to switch to our product. Thus we are planning on gaining a office of energy bars market and keep on extending it with introducing new variations and flavors in the future.Upgrade shortly we are entering the market with four main flavors (Monster E Java, Monster E Cranberry/Raspberry, Monster E Citrus, and Monster E Banana). As our product will be growing we will expand the brand by introducing new labors, sizes and a bar that will consist of two flavors in one bar. We will also be able upgrade the measuring in which we sell our product by introducing such options like a bundle of two or three bars. But still it can be append with other monster products.At the same time our bar would be a perfect add on with a customer who frequently purchase energy drinks (especially Monster Energy) and would buy our energy bar on top of that. Packaging Packag ing is very essential for any product development. The strategies we are going to use for packaging of Monster Energy Bars are clear visible of amen, logo and flavor. The logo will be same as Monster Energy Drinks because it has already created estimate in the mind of the customers. This will help to draw attention towards alive customers and generate new customers.We are going to use airtight, vacuum, packaging with black, red, chromatic and yellow colors (corresponding to each flavor). The bar is going to have very clean and distinctive design and matte finish. The packaging will have English and French version of nutrition facts, ingredients, manufactured date, best before use and it will be certified by government (all of the ingredients are approved by required health standards). The packaging will be recyclable. On the shelves, bars would be displayed by color black (Java), red (Berry), orange (Citrus), yellow (Banana) in that order.Pricing Strategy While launching our prod uct we will use skim pricing strategy where we are going to set the price higher that other regular granola bars and energy drinks which are our main competition. We want our bar to be percept as a new, innovative, high quality product. By choosing skim pricing strategy we are aiming to establish a recognizable, high quality product that will attract early adopters and those people who follow the latest trends and innovations and are looking for new and exciting products and flavors on the market.The MSP is 52. 4 CAD with a mark-up of 71 % from the unit cost of $0. 7 CAD, and theres is a margin of 48% for the wholesaler. MSP $2. 40 Wholesaler price $1. 34 Cost $0. 70 There is a cost per unit of $0. 7 CAD, includes Manufacturing materials, labeling and packing. The expected mark up for the product is 48% assuming that 44% will be the cost of the wholesale. We have calculated the cost which contains overhead expense, cost of goods sold, etc. As we have adopted skimming marketing strat egies the price margin is also higher.Our pantomime should be one that can create and nourish profitable relationships with our target customers and create an avenue for purposeful dialogue with them. For our Integrated Marketing communication theory strategy, we are going to incorporate the producer marketing activities to retailers and wholesalers who resell to our target customers, the rationale behind this is to ensure trade promotion(Cooperative Advertising) by producer and personal selling, as well as to enhance sales promotion by wholesaler or the retailer and public relations.