Product V Energy Drink Marketing Essay

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23 Mar 2015

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Energy drinks are sugar-sweetened, nonalcoholic-carbonated beverages that contain more than 32.4 mg of caffeine per 6 oz and are marketed for the purpose of providing real or perceived enhanced physiological performance.

Quality: v drink is a regular consumer of the drink. It is good for those who want to start early or working into the night. Overall v drink is a good product with lots of different flavours to choose from, and it is inexpensive product compared to others however we can buy it on special for $1 each.

And it is easy available and it has great taste, give a small energy boost, fairly cheap and in it sugar free option is also available.

Brand : V is New Zealand's favourite energy drink, having won Kiwis' hearts and taste buds since it launched in August 1997. V has taken the New Zealand energy drink market by storm, capturing over 60% of the market and driving the acceptance of energy drinks in a daytime environment.

At its heart, V is about giving consumers the energy to achieve the extraordinary. This has been communicated through some of New Zealand's most loved advertising.

Or

V is an energy drink brand produced byFrucor Beverages Ltd since August 1997. In 2003, in supermarkets and service stations, V had a market share over 60% in New Zealand[1] and 53% in Australia,[2]making it the most popular brand of energy drink in both countries. V is made in New Zealand and Australia by Frucor. V is available in six varieties, each sold in both 250 mL cans, 350 mL glass bottles and limited edition 300 mL aluminium bottles, V has also recently released 500 mL cans. V is also exported to the United Kingdom in cans and bottles.

Features :  it has heaps of caffeine in it to keep you awake and because it is classified as an energy drink, like gatorade and powerade, etc, it will give you the energy you need, along with healthy eating.

Energy drinks contain extra vitamins and minerals for your body along with the caffeine type energy boost they provide, so not only is your brain more active and responsive due to the caffeine but your body is receiving more nutrients to help with any activities you do. Of course you never want to drink more than 2 a day, as too much caffeine or similar substance is bad for your body. With strong brand identities and flashy websites, they make much of their support for cool, creative youth-driven activities, sponsoring sporting events, music festivals and movies. Energy drinks are usually carbonated soft drinks, with a mix of ingredients such as caffeine, sugars, vitamins and herbs designed to stimulate the brain and provide extra physical energy.

Ans 2 The main objectives is to identify how the Energy Drink market is segmented according to demographic, geographic, psychographic and behavioral variables. The Energy Drink industry which is dominated by Red Bull and V energy drinks is worth 151 million dollars and is growing by 47% per year. Energy drinks is the fastest growing category in the soft drink market. V energy drink is the market leader in energy drinks and exciting marketing techniques to appeal to the younger demographic.

Demographic

Demographic segmentation consists of certain variables such as age, gender, income, ethnic background and family life cycle. Energy drinks are targeted to the 20-34 age brackets.   Energy drinks target generation y and generation   by using modern labels and exciting ads with dance music, and extreme sports. The older generations such a baby boomer would be more inclined to stick with coffee for a quick pick me up. There is more emphasis on marketing to males but lately there has been an increased interest in marketing to females by producing low calorie, low sugar energy drinks. Income of the consumer is not an important characteristic because of the low price of energy drinks.

Geographic

Geographic segmentation describes segmenting markets by part of the world, region of the country, market density, market size or climate. Energy drinks practice geographic segmentation by advertising higher in more fast paced, high density urban areas rather than sleep country town.

Benefits : Here are some of the reasons why consumers purchase energy drinks, as advertised and promoted by the manufacturing companies.

These drinks offer increased energy, alertness, and diligence

In addition, they also are said to contain supplements, although it is clear that these amounts of vitamins and minerals are negligible compared to what you would receive simply by taking a multivitamin.

http://www.australiancreative.com.au/news/the-saltmine-designs-for-v-energy-drinks

Ans 3 according to me a trademark is that which helps the consumer to identify the particular product or service. It can be a by a word, phrase, symbol, image, sound, device, or by even color.

V stands for vitalise. It's an energy drink containing guarana and caffeine developed by Frucor Beverages in New Zealand, after the success of Red Bull in Europe and Asia. V was launched in 1997 and quickly caught the imagination of a younger generation, becoming the energy drink of preference for two thirds of the market. Since then the drink has been launched in several countries, including Britain, South Africa and China. Only problem with the name is that "V" doesn't do so well in the search engines. It's not specific enough.

If we had seen an advertisement in t.v. they give a very good ads to to encourage the customers for eg: the ads which is given by the v drink, the ads featured a revitalised lizard, an energized fly that flies throught the windscreen and rear window of a car, and a large spider having a go as disk jockey. But the ads that caught the imagination of the public were the Gnomes, Termites, Cockroaches and Beetles.

All customers can recognize the v drink product from far from its symbol "V". mostly all the consumers express by the tv ads and they want to buy that products and it helps them to give energy and also help them to do more work upto late night.

Ans4 A brand is a name, term, sign, symbol or design or combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. Main reasons of branding are product identification means easy to identify, trust,it makes our shopping easy like we compare less products, quality consistency, promotion, efficiency, legal protection, value building, product personality development, product positioning, brand loyalty and status etc.

My product "V" drink fall in the "energy" or personal use category means used by individually brand mainly customers are influenced by the participants drinking energy drinks significantly increased the more strongly they agreed that they drank energy drinks when their friends drank energy drinks. There were no other significant main effects observed. Interaction between variables generated a significant interactive effect between the number of friends the participant answered they had who drank energy drinks and agreement that they drink energy drinks when their friends drink energy drinks. Mostly the truck drivers, taxi drivers and kiwi workers take 2 or 3 bottles per day because they need energy especially in picking and pruning season.

Ans 5 The objective of foodstuff labelling is to guarantee that consumers have access to complete information on the content and composition of products, in order to protect their health and their interests. Other information may provide details on a particular aspect of the product, such as its origin or production method. Some foodstuffs, such as genetically modified organisms, allergenic foods, foods intended for infants or even various beverages, are also subject to specific regulations.

Labelling of certain non-food products must also contain particular information, in order to guarantee their safe use and allow consumers to exercise real choice. In addition, the packaging of foodstuffs must adhere to production criteria in order to avoid contaminating food products.

Best packaging also provides information based on truth, it must be economical, attractive, convenient, protective and transparent. A label is a simple tag attached to a product or an elaborated designed graphic that is the part of the package. It identifies, grades, scribe and promote the product by providing the information to the buyer. It may be brand labels, grade labels and descriptive labels.

The labeling of this product encourages those customers who are addictive to drugs then they read caffeine on the label of the V drink and then they buy. The main colour of the labell of the V drink enrgy is of green colour which interacts the customers.

Healtheries Boost Energy is the fun, fast and fizzy Guarana-Vitamin B afternoon pick-me-up that helps to boost your energy and alertness.

Guarana provides a fast energy kick when you're feeling sluggish or fatigued, while B Complex vitamins support ongoing vitality.

V Energy drinks contain pure caffeine, and the amount must be on the label. However, the amount of caffeine in the drink could be higher than indicated as the caffeine content of the following natural ingredients is not required to be listed separately:

Ans 6 Business objective: To increase market share in the energy drink industry with our product line of V. This business objective is also referred to as our Management Decision Problem. Specifically, management wishes to increase sales through the development of new packaging and the introduction of new flavors, to create a further differentiated product. This then translates into our marketing decision problem that defines your research objective.

Research Objective: Evaluate the effectiveness of alternative package designs and determine the need and acceptance of new flavor offerings for V. Ultimately your findings will aid our marketing division in weather to precede in new packaging, and decisions regarding the new design. Your results will also provide valid information for the product development team exploring the need for new flavors and the specifics in customer tastes.

The Marketing division needs to know:

• Does the current packaging appeal to customers?

• Who are these customers? What demographic do they belong to?

• How do people rate our package designs in comparison to that of our immediate competitors?

• What aspects of the design could be improved? What do customers want in the design?

• Would a package re design change customers perception of V in a positive or negative way?

The product development team needs to know:

• Which of the current flavors are most popular among customers?

• What current flavors are being consumed by different demographics?

• What do non-customers dislike about V regarding taste?

• What flavor needs could be satisfied?

• Would added flavors change customer perception in V in a positive or negative way?

Our Target Audience

We want you to target anyone who would need an energy kick from time to time, to those who rely daily on the aid of caffeine. This will include tertiary students, young professionals, laborers, parents; a wide sector of society. Research suggests that high levels of Caffeine can be harmful to young minds therefore we wish to avoid screening primary and intermediate school aged kids as it creates an unwanted image for our company. For more information regarding the dangers of caffeine refer to the Journal of Pediatrics.



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