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Abstract
This paper ventures to create a marketing strategy for Monster Energy drinks. To achieve this, the paper conducts a SWOT analysis that reveals the various attributes of the brand. Some of its strengths include attractive and innovative design, a broad variety of products, and a huge online presence among its fans. Its weaknesses include its narrow niche since it is mostly associated with extreme sports. However, this creates a base for its opportunities which are other niches such as non-sport lovers, production of zero sugar varieties, seeking endorsements by health organizations, and partnering with other bigger firms. The brand also has some threats such as death allegations and its aggressive design. Monster energy drinks have also employed a great marketing mix. These marketing mix aspects are its availability in most markets all over the globe, its fair prices concerning quantities offered, the various varieties of the product offered, and its strategic promotion among its target group. The firm uses sports events where it has huge amounts of support. The merits of management plans, operation plans, and budgets have also been discussed. However, the paper also acknowledges the limitation of these tools.
Keywords: market, sport, group, energy, promotion, endorsement, brand and management
Executive Summary
This paper conducts a SWOT analysis and uses its outcome to determine how various strategic to…