Table of Contents 1.0 Executive Summary ................................................................................................. 1 2.0 Situational Analysis ................................................................................................... 2 2.1 Industry Analysis ................................................................................................ 3 2.1.1 Size ................................................................................................... 4 2.1.2Trends................................................................................................ 5 2.1.3 Environmental Influences .................................................................. 6 2.2 Company and Brand History .............................................................................. 6 2.2.1 Sales History .................................................................................... 6 2.2.2 Market Share ................................................................................... 6 2.2.3 Prior Advertising Campaigns 2.3 Product Profile ................................................................................................... 6 2.3.1 Life Cycle ......................................................................................... 6 2.3.2 Goods Classification ........................................................................ 6 2.3.3 Positioning ....................................................................................... 6 2.3.4 Marketing Mix .................................................................................. 6 2.4 Competitive Analysis .......................................................................................... 6 2.4.1 Top Three Competitors .................................................................... 6 2.4.2 Positioning ....................................................................................... 6 2.5 Consumer Evaluation ........................................................................................ 6 2.5.1 Demographics .................................................................................. 6 2.5.2 Psychographics................................................................................. 6 2.5.3 Loyalty .............................................................................................. 6 2.5.4 Usage Patterns ................................................................................. 6 2.5.5 Benefit Segments.............................................................................. 6 2.5.6 Media Contacts ................................................................................. 6 2.6 SWOT Analysis................................................................................................... 6 2.6.1 Strengths .......................................................................................... 6 2.6.2 Weaknesses ..................................................................................... 6 2.6.3 Opportunities .................................................................................... 6
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2.6.4 Threats.............................................................................................. 6
3.0 Media Objectives ....................................................................................................... 6 3.1 Long Term and Short Term Sales Goals ........................................................ 6 3.1.1 Long Term ........................................................................................ 6 3.2.2 Short Term ........................................................................................ 6 4.0 Communication Objectives ........................................................................................ 6 4.1 Brand Perceptions and Attitudes .................................................................... 6 4.2 Brand Purchase Intention ............................................................................... 6 5.0 Advertising Budget .................................................................................................... 6 5.1 Total Campaign Budget .................................................................................. 6 5.2 Media Budget ................................................................................................. 6 5.3 Budgeting Method .......................................................................................... 6 6.0 Creative Strategies .................................................................................................... 6 6.1 Creative Brief ................................................................................................. 6 6.2 Print Ad ........................................................................................................... 6 6.3 QR Code......................................................................................................... 6 7.0 Media Plan ................................................................................................................ 6 7.1 Media Objectives ........................................................................................... 6 7.2 Continuity ....................................................................................................... 6 7.3 Reach ............................................................................................................. 6 7.4 Frequency....................................................................................................... 6 8.0 Testing and Evaluations ............................................................................................ 6
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1.0 Executive Summary
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2.0 SITUATION ANALYSIS 2.1 Industry Analysis 2.1.1 Size Monster has created a monstrous community of consumers that remain loyal to their brand. Having started early on in the energy drink world it has grew tremendously into a top selling energy drink. With social media proving its popularity there is no need to underestimate Monsters growth. Monster is teamed up with many sponsors in the athletic, music, and celebrity world. Monster feels it is their duty to help support their sponsors in the lifestyle they live. Offering encouragement any chance they can for the outstanding achievements accomplished. Having over 4.25 million fans on Facebook shows Monster Energy Drink is viewed positively by the public. 2.1.2 Trends The Monster Energy is well known for the 16 oz. can. Towering over most energy drinks and never letting you forget the Monster Logo. In fact, one product “the Hitman” includes free Monster stickers. Monster Energy stickers are popularly seen on jeeps, trucks, and off road vehicles. Also giving away free tickets to events is another trend Monster has created for its consumers. Helping support events throughout the U.S. by taking the role as lead sponsor. Monster Energy Drink tents setup at events. Using their logo on many advertisements, “Unleash the Beast”. Having models, celebrities, and other proathlete sponsors interact with their consumer market.
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2.1.3 Environmental Influences Monster knows the importance of “Green”. Monster also knows the importance of their cans being recycled. In 2009, Monster Supercross Tour, Monster Energy teamed up with Global Inheritance to help make their consumers know they are “Green”. Allowing their consumers to bring a Monster Energy can to the race to recycle and would receive a pit pass, with a valid racing ticket, just for recycling. This good deed from Monster shows them. (http://www.flickr.com/photos/74696088@N00/sets/72157612183723072/)
2.2 Company and Brand History 2.2.1 Sales History A total of $270 million is allocated to the total campaign budget. This figure represents dollars to be spent as a result of the Monster Energy‟s market share. The energy drink companies spent a staggering $900 million on advertising in 2009 (www.fullfusjon.com). At events Monster Energy sells 16 oz. Cans for $3. When bought through a retail store a 16oz. can costs $2.29. 2.2.2 Market Share Monster Energy has a 27.9% market share, followed by Red Bull at 31.9%, and Rockstar at 9.6% (Pierceall, 2010).
Market Share Red Bull
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Rockstar
Monster
2.2.3 Prior Advertising Campaigns Monster Energy should spend around 1/3 of total industry dollars spent on marketing to increase sales and maintain market position. Another key to the prior advertising campaigns is how simple Monster Energy focuses on advertising. They try to eliminate room for error by avoiding noise as much as possible. Key points in Monster Energy prior ads are mainly focused on positioning. The placements of advertising mean more than the ad itself.
2.3 Product Profile 2.3.1 Life Cycle Monster Energy Life Cycle would be considered in the Growth Stage. The whole idea of Energy Drinks still seems new. The fact is they have been growing for a little over a decade now. The industry is still growing and Monster itself is still introducing New Flavors and New Cans. They have Monster Energy shots, apparel, and equipment. With new flavors on the rise from Monster Energy Drink I can only see more consumers becoming loyal to their products. 2.3.2 Goods Classification Monster Energy goods classification consists of convenience, shopping goods, and specialty goods. Gas stations all throughout the world offer Monster Energy as a convenient product. At local malls you can find multiple stores that sell Monster Energy apparel. Most of Monster Energy specialty goods are purchased by Monster Energy for their sponsored professionals. These would consist of bikes, boards, and other miscellaneous equipment.
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2.3.3 Positioning The heart and soul relies heavily upon the positioning of Monster Energy. Taking a position where it is focused on their target market. Keeping a environmental influence image to their brand. Help the x-treme sports that build the brand image of Monster Energy by sponsoring events.
2.3.4 Current Marketing Mix Monster Energy has a well processed marketing mix. Products are generally tangible and viewed as a convenient item. The price is well considering the amount received. Place is usually easy to purchase, found in about every town in the U.S. and as for production it‟s the most important part which deals with all the events Monster wants its brand name to be seen.
2.4 Competitive Analysis 2.4.1 Top 3 Competitors Monster Energy has competitors in its own industry. Also outside of its industry, this would include soda beverages, water, and other athletic drinks. The top three competitors inside of the Energy Drink Industry are Red Bull, Full Throttle, and Rockstar.
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2.4.2 Positioning The positioning of these three competitors has similarities when it comes to attracting consumers to their products. Rockstar and Full Throttle seem to be closely related with Monster when it comes down to their overall product. Using price and size helps to create an advantage. However, Red Bull has the advantage of higher pricing power for smaller amount with a can weighing in at only 8.3oz. Monster and Red Bull are two companies related when focusing on the company‟s target market. Rockstar is aimed more towards a market target of the musical world.
2.5 Consumer Evaluation 2.5.1 Demographics Monster Energy offers most advertisements toward the ages of 18-26 (generation next). The gender is generally targeted towards males. As a whole, Monster delivers to diverse ethnic backgrounds with a higher middle class family status. The ability to afford the costs of the activities Monster community is involved with is a pretty penny. 2.5.2 Psychographics Monster Energy psychographics focus towards the over the edge type of athletes. Athletes that defy gravity, have a need for speed, and use fear as a motivation to push the limits. In the surfer world they live up to the phrase, “Go Big, or Go Home”. It is a community of people who share the same interests. An attitude of giving everything you‟ve got for the sport or profession you love. Their lifestyle depends on ones work ethic to rise to new heights.
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2.5.3 Loyalty Monster Energy has built loyalty with many ages, races, and athletics. It is so well known throughout Generation Next. They have formed a Monster Army and it is made up of more than a quarter of 1 million fans and athletes around the world. They list their Monster Army alliances which include companies like Kawasaki, Skullcandy, Volcom and many more top brand names in the x-treme sports world. 2.5.4 Usage patterns X-TREME events seem to be the hot spot for Monster Energy products usage. Creating an experience that fans of Monster will remember. 2.5.5 Benefit Segments Monster Energy likes to keep their consumers happy with new, fresh, and sweet products. Monster also wants their consumer to feel they are holding more than just a can when Monster Energy is in their hand. Monster Energy wants their consumers to feel they belong to a community. Monster Energy drinks will always quench your thirst and wake up any taste buds that are asleep. The brand name is so well known in the xtreme sports world today you don‟t want to be seen without it. With big names sponsoring Monster Energy their consumers can enjoy the same experience in life as their role models. 2.5.6 Media Contacts Monster Energy has multiple media contacts. The most common seen today, Facebook and Twitter pages. Also they have trained and experienced individuals in motocross sports who manage different areas within the company. For example, Tom McGovern is the media contact for Monster Energy Kawasaki team. (http://www.kawasaki.com/Racing_motocrossracing/MPCTeamFacts.aspx)
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2.6 SWOT Analysis 2.6.1 Strengths Monster Energy Drink has much strength behind its brand. Although it may seem like it, the Monster symbol did not just build its image overnight. It has been over eight years now since the introduction stage of Monster. To think of how many lives have been touched throughout the years this company has existed is insane. Monster company is fueled by helping its community of consumers to experience life on the wild side. It has built great relationships with pro-athletes, celebrities, and the x-treme sports communities. Holding a high percentage in the market share and helping raise its manufacturer Hansen Natural Corp. Having a strong Corporation behind Monster doesn‟t hurt one bit. Monster has one of the most appealing and unique style of cans when it comes to energy drinks as well. 2.6.2 Weaknesses The main weakness Monster Energy faces is they are in such a large industry. The beverage industry is so large and having so many options to choose over paying overprice for a boost of energy. This doesn‟t count the fact they are also competing more aggressively with the other thirty or so energy drinks. Having too many flavors to choose from may also be a weakness. Finally, negative comments about energy drinks causing health issues. 2.6.3 Opportunities Monster Energy has opportunities all around the globe. Considering how many events occur in all the sports they support. Their main focus is being seen at large events. Monster Energy wants to show they can hang with the big dogs. This is why their sponsors play such a large role in their brands image. Monster is creating opportunities for their fans to relate to their idols that are at the top of their sport. 10
2.6.4 Threats The threats Monster Energy could face are critical considering how powerful their brand is to the public. Monster must make sure not to make any mistakes that could jeopardize the brands image. Unexpected threats could be involved with sponsors. If one of them were to pass away due to a stunt performed at an event Monster was hosting. Also sponsors may be seen in a bad light, which could happen at any time and this could look negative on the brands image.
3.0 Marketing Objectives The main marketing objective for monster will be to stay above the other thirty energy drink companies as the market majority, as well as making sure that monster is the first name that comes to mind when thinking about energy drinks. As of right now Monster is owner of around 27% of the market share and the plan is to keep on growing. The first objective would be to start back over with our target market and audience to make sure they are staying with monster. Our base target market consists of young professionals and students 16-34 years of age that prefer this “New Age beverage” because it exudes a hip and edgy vibe that reflects their lifestyle. This will also help us regain many of our lost consumers and maybe even attract a few more. By going back after this target market, as a company we would need to research the latest trends/fads and find a way to implement them into our product (either by packaging, advertisements, logos, etc). The second objective would be to create a greater presence among large groups of people. Such things like sponsoring sporting events, college events, or city events. 11
This could also come in handy at many colleges as it would also be a great test market for new products that are coming out as well as keep the monster name going by word of mouth and advertising. College kids love to talk about what they like, so this is a massive opportunity. The third market objective would be to add a new innovative advertisement to the actual can its self. A QR Code allows a consumer to take a picture from a phone (Iphone, Droid, Blackberry) and brings that phones browser to a certain website. We could implement this on a can with the monster logo and allow this reader to take the consumer to a website with coupons, upcoming events, and more. The last main marketing objectives would be to combine a mix of price matching as well (according to top competitors such as Red Bull and Rockstar) and add a growth of 3% over the next year. Being able to stay just cheaper than or the same price as Red Bull and Rockstar leave us a much better chance head to head as we feel our product is the preferred one. This will allow us to grow overall which should allow us to hit our 3% growth goal over the course of a year. 3.1 Long Term and Short Term Sales Goals 3.1.1 Long Term There are two large major long term sales goals that Monster would have based off of this campaign. The first major sales goal would be to overtake Red Bull at the top with our market share. According to a 2009 market share quote, Red Bull is still topping Monster by a few percentage points. If Monster can make one large push and take
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away just three percentage points from Red Bull, they will be surpassed. This would be us around the 30% range of market share and drop them just below. The second long term goal is to have sales increase, but if not increase a nice steady amount where it is would not be bad either. Monster recorded record sales for the year of 2009 and also a major jump in record sales just for the first half of 2010. If Monster keeps this going, increasing our sales by 2% minimum, this will help us obtain our first long term goal of taking over the market share. 3.1.2 Short Term The major short term sales target would be to attract a minimum of 7% new customers over this six month period. This six month period is very important to Monster and could be the major momentum change in the market. If they attract a total of 7% new customers, retaining many of the already existing, this would make a huge impact in sales and market share. These are the two main objectives when it comes to marketing and advertising. The other major short term sales target would be to repeat or improve on the last six months sales goals. Since the first half of the year ended up being the best ever in terms of numbers for monster, combining that with another six months would blow numbers out of the water. Monster needs to make sure these advertisements and the pushing of sales will allow for that to happen. If it ends up happening or at least staying the same, Monster‟s number for this year will be close to $200 Million higher than any other year has posted. That is quite an accomplishment!
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4.0 Communication Objectives Monster is known for its great taste and effects it gives those needing an energy boost. With these facts in mind, it lays out what the companies needs are for keeping their company on top of the market. Monster also needs to keep up on the changing technology with how they advertise on different nets. With so many trends coming and going it is obvious that Monster needs to keep up with trends in order to stay appealing to their market. They need to stay popular with extreme sport athletes in order to keep on top of the male market. Another need would be to change the outlook of their product once in a while. The plan is not to completely change the look of Monster but change it up to keep attracting the customers. Monsters energy has created quite a following ever since they created their energy drink products. When they started out the response from consumers was amazing and they quickly bypassed their competitors Red Bull in sales. Now it is an energy drink known across the country and even around the world. The simple M is immediately recognized by consumer as the Monster brand with its black background and colored M. Monster is quite known in the motocross world and when fans see their favorite riders drinking Monster, they want to be just like them and buy the same drinks. By putting most of their ads in Motocross areas, gas stations and other sporting events they are gearing toward the 16-26 males. With Monster being a huge sponsor they have come out with apparel for the motocross fans. When consumers where the apparel outside of events sponsored by Monster others will recognize the brand and be intrigued into buying the product. 4.1 Brand Perceptions and Attitudes Monster currently markets to a very specific segment of young and energetic consumers. Their website boasts everything from rock videos, to contests, to the ever popular 14
“hot chicks”. Even the language used in the text used is „off the cuff‟, “deliberate”, and meant to relate directly to an edgy audience. Monster has created a new drink for a new generation that will change the look of beverages forever. Monster doesn‟t advertise through traditional advertising venues such as billboards, TV commercials, or radio. Rather, the brand promotes “lifestyle in a can”. Sponsoring events such as concerts, sporting events, and VIP parties enables Monster to live the lifestyle and promote it interactively the brand enthusiasts. 4.2 Brand Purchase Intention The high profile extreme sport endorsements strongly influence the purchaser‟s decision to buy Monster Energy drinks. Even the marketing for this drink is extreme and edgy allowing the consumer to assume these characteristics to satisfy their self-perception as well as their thirst. Monster energy is a lifestyle brand committed to connecting and interacting with its fans.
5.0 Advertising Budget 5.1 Total campaign budget A total of $270 million is allocated to the total campaign budget. This figure represents dollars to be spent as a result of the Monster Energy‟s market share. Monster Energy has a 27.9% market share, followed by Red Bull at 31.9%, and Rockstar at 9.6% (Pierceall, 2010). The energy drink companies spent a staggering $900 million on advertising in 2009 (www.fullfusjon.com). Based on this information, Monster Energy should spend around 1/3 of total industry dollars spent on marketing to increase sales and maintain market position. Because of Monster Energy‟s significant market share, an advertising budget that caters to this is necessary to implement.
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5.2 Media Budget Since Monster does not utilize much traditional media, a minimal amount of money will be devoted to this section of the budget. The print ad will consume nearly $15 million, and advertising for Greek Life parties and events will consume another $10 million. A total of $25 million dollars will be spent on the media budget for Monster Energy. 5.3 Budgeting Method Because market shares increases in market share are closely related to increases in the marketing budget, Monster Energy budgets the campaign with the share of market/share of voice method (Arens, 2011 pg. 286). Monster has a 27.9% market share (Pierceall, 2010). The large market share Monster Energy maintains is a significant indicator of profitability. This method of budgeting will allocate funds consistently to endure the brief durability of advertising campaigns and allow overall sales to increase over time. Secondly, as the recession continues to impact local to global economies, sustained spending on advertising has been proven to increase sales in some cases and build the market share (Arens, 2011 pg. 287).
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6.0 Creative Strategies 6.1 Creative Brief Client: Monster Energy
Job #: Monster #1
Job: Create an ad campaign for Monster products
Date:10.13.10 Spec‟s: Introduction to Campaign
Title: Unleash the Beast
Marketing Situation: Our team is creating two different ad campaigns for Monster Energy to consider for their advertisment of their products. Objectives: The purpose of our ads is to attract more customers to the Monster products and maintain the customers already committed. It is also to broaden Monsters customers by attracting more athletes of different sports and college farternity and soroity's. If they broaden their target audience and start to include the college life, their sales will sky rocket. Our goal for the QR code is to make it quick and easy to access the monster site and be more connected with rising technology. For the “unleash the beast” ad, we wanted to continue the slogan for monster but take it in its rawest form, leaving room for imagination. Target Profile: All athletes, extreme and college sports and a new market college students of all types.
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Obstacles: A few obstacles we will have to over come in creating the ads is to make them relatable to our audiences. We think they will understand the message we are trying to portray but it doesn‟t relate to their lifestyle or doesn‟t interest them. Another obstacle we may need to tackle is being able to produce the QR codes with no flaws and keep it within our budget. Since the codes are a new technology deal, it may be a little more expensive to produce until it gains more publicity. Key Insight: These two new ads for Monster will not only change the way they advertise with the QR codes but it will broaden their target market. The ads will help Monster gain more customers and put them higher up on the energy drink market. Main Message: Monster Energy is at the top of the list for energy drinks. Our team made it our goal to produce ads that will keep them in the top spot. We know their main target market is an extreme sport athlete but we wanted to expand their audience to college students and athletes. These two ads are going to help Monster achieve the business from these different markets and build up their business. Support: Our team will support Monster Energy by buying their products and recommending their products to others. Once the campaigns are giving to the company, we are willing to help them produce the ads and give them answers for any questions they have about the ads.
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Personality: When making the ads we tried to connect all the personality traits of Monster and then make them relatable to their target market. The personality of Monster is what attracted their customers in the first place, so when creating new ads we needed to keep them in touch with their previous ads but add a new twist. Executional Considerations: We have to make sure that when we send in our ads they are flawless and have no signs of mistakes. Also we need to be sure Monster is happy with the route we took and are willing to use the ads for advertising. Finally getting the ads to print under budget may take some thought but it will make or break the ad campaign.
Client Approval:
Date: 10.13.10
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6.2 Print ad The advertisement that we have created is based off Monster Energy‟s slogan, which is “unleash the beast.” The advertisement shows two eyes on the top of the page glaring at you. The eyes are black and a bright green, this is to grab the audience‟s attention. On the very top of the page is Monster‟s slogan, “unleash the beast.” Whereas the background is black slowly turning a bright green around the Monster logo. The monster logo is dead center of the page because everyone recognizes the Monster logo and if it is dead center then the ad is easily noticeable. This ad is simple and to the point there is no real flashy graphic or lots of words to reads it is simple and made to get Monster‟s slogan out there. This at is targeted to those in their teens and twenties. The reason that we would market to the teens and twenty year olds is because they are more amped to want something that will give them a boost for their day. They are all more willing to purchase a product on the looks rather then what it really is. Monsters slogan is “unleash the beast” teens and younger adults are normally more eager to “unleash” something. This ad would be located in mostly sports magazines, extreme sporting events, and where Monster is sold. The ad was made by using research that showed what are target market was going to be. Then we used Adobe Illustrator to do the art work. We first made a black
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background, and then proceeded to make another black background but this one with a gradient of green to black. We placed the second background in the back of the ad and placed the pure black background in the front and used 69 percent opacity to give a glowing effect to the green circle. The next think we did is used the pencil tool and drew some eyes. After drawing the eyes we used the expand tool and round corners tool. Then used the gradient tool again and placed it in both of the eyes. We gave the outside of the eyes a bright green outline and then lowed both opacities to 19 percent. This gave the eyes a look that it is coming from the shadows. The last things we did was type “UNLEASH THE BEAST” and then used create outlines, placed a rounding filter on it, the used a gradient to fill the inside of the text. The last thing we did is placed a bright green boarder on the ad and saved it to out computer. This ad is target to those in the teens and twenties; we believe that this ad does a great job and grapping your attention. Most teens and people in their twenties have shorter attention spans and this ad does a great job of grapping your attention and letting people know what it is for. The colors are famous for Monster and same with the Monster “M.” We believe that this ad does a fantastic job and getting its point a crossed without being too complex.
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6.3 QR Code QR code readers are considered one of the newest innovations to hit technology. The picture to the left is an example, but a real QR Code that has been generated with monster, also using their logo. This specific QR code will be used on the monster cans, as well as the print ad in the corner of the advertisement. What happens with a QR Code is that anyone with a smart phone (I.E. blackberry, Droid, Iphone) will take a picture of this on their phone. This code will trigger the phone‟s web browser and put it in certain address. This web browser will then bring that consumer to a www.monsterenergy.com/coupons . This will be useful because many consumers will know that monster has a coupon page that they can redeem a coupon for let‟s say $0.75 cents on their next purchase. Not only is this going to be something new that will not be seen on any other energy drink, it will bring a ton of traffic to the monster website. This might make a consumer think well if this is one tab, maybe I will check out the others. This QR code was generated simply by an online generator. The generator allows for a business to put in their logo or symbol in order to make it a personal code. These codes do not cost money to make unless you are planning on buying a product 22
from that company. These codes can be generated and printed to be put on business cards, print ads, and most importantly cans. 7.0 Media Plan 7.1 Media Objectives 7.1.1 Continuity Our print ad that has been created will be used as a two month campaign, two on one off for the first six months. This ad will appear in magazines such as ESPN the magazine, Extreme Sports Magazines, and posted around campuses in the United States. The reason this ad is a two month campaign on and off is because we want to get our image in the mind of the consumer, but we do not want to smother like the other ads have done. The QR codes are going to run on every can and will stay that way until a new innovative technology comes out to replace this one. The reason this needs to be an ongoing idea as well as it is such easy advertisement that can bring them onto other sites of ours. It is just a solid mix of our media objectives. This is just too easy to leave on the can and still make a major impact on website traffic for our brand. This will be based off of what kind of advertising is being done. With social media advertising it will be an on going campaign to make sure that this is an in your face advertising style. This means that Monster will be taking over many different social medias such as Facebook, Twitter, Blogging, etc. This way they will have a very large domination of social media in the energy drink category. Sponsorships- Sponsoring bigger events such as BMX and Extreme sports will be advertised upcoming to the events. These will be advertised as long as a month up to the event depending on the size of the event. If it is a college frat that they are sponsoring or a Greek
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week at a college this could be advertised for as long as a month or three weeks before and then leave around some advertising around the college after since it will be fresh in the minds of people. 7.1.2 Reach The reach for a print ad in a magazine can be measured by how many people subscribe or purchase these magazines. The issue is that it is hard to say how many people will see the advertisement. This issue is that some may look over the ad, but the positive of that is that many more people than just the subscriber could see this advertisement. An example would be at a doctors‟ office and many of the patients flip through magazines. This is unknown traffic that is hard to keep track of. Basically, we are trying to reach as many subscribers and magazine readers/flippers as possible. The QR codes reach would be based on the sales that Monster Energy will have this year. So far in 2010 their sales were at a record high of $685.9 million which can be figured out to about 304 million cans of monster. This means that if they can keep this sales number equal (or increase it) the reach of these QR codes will be 304 million people. Although not all of these people will try the QR Code, they will still notice it on the label because it will be a small difference in the logo. The goal of social media for Monster is to reach as many possible people as they can. With social media being such a large networking site there is no limit on the reach. The goal of monster would be to obtain (or reach) at least one million (one third the amount of fans already) more people on Facebook and to double the amount of Twitter followers (28,000) within this next year. These are very obtainable goals, especially with Twitter because of the growth of the social media and the popularity of Monster Energy.
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Sponsorships can have a range in reach pending on how many events we do. The main sponsorship we would be focusing on that Monster Energy does not do a ton of is college sponsorships. One idea was to sponsor Greek Weeks at a college. The average number of Greek Life at a university ranges from anywhere around 15-25 percent depending on the colleges. Many of the non-Greek attend parties and event as well. If Monster is able to sponsor an event that involves most of the Greek Life and some outside sources, they could easily market to more than 30% of a college. Using this at a large college could be an extra 10000 College students over a course of time. Plus the advertising would allow for most college students to see Monsters name and that they are at the college which would equal 90% of students at a university. 7.1.3 Frequency The Print ad frequency would be a two month campaign where the ad would show in magazines for two months, and then off for a month. This way we are still getting this ad out into the public, but it is not the only ad you see every time a magazine is opened. Two months allows for the normal subscribers, as well as the random month to month purchasers to get a chance to see our advertisement. Finally, this means that the ad will not get old really quickly and it will not be so over-run (a very common problem) that people just skip over it. The frequency of the QR codes is different because it is a part of every can. This means that anyone who is buying monster will be seeing these codes. There will also be QR codes on the boxes and the windows of where Monster Energy will be sold. This means that the frequency will be nonstop because they will always be around making people wonder what exactly these are and start using them.
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The frequency of the social media would be placed in the hand of whoever is doing the advertising and marketing for Monster. With this advertising campaign for social media being an in your face type of campaign, the frequency will be nonstop. There should be a minimum of a post to two posts per day on Facebook and a large amount of tweets per day. By doing this, people will be getting notifications from Facebook and Twitter which will bring them back to the monster page. The frequency of sponsoring an event at a college such as a Greek Life event would have to be constant the three weeks before the actual event. We want people on average to see a print ad, banner, or advertisement from monster at least five or six times while walking across campus. For small campuses there will be flyers on each floor which means that every flight of stairs or every elevator ride they will see this Monster Sponsored event ad. Also, we want to make sure that word of mouth gets around about these ads so that will be another frequency that we will not be able to measure. Hopefully it is happening all the time.
8.0 Testing and Evaluation The new Monster Energy campaign will consist of three different forms of marketing. It will consist of a print ad in select magazines distributed monthly, QR (Quick Response) Codes on the Monster Energy items, and hosting parties at fraternity and sorority venues aimed to attract the target market. Pre testing will take place with the new print ad in the form of perceptual meaning studies in which the respondent will see ads in timed exposures. Physiological testing will also be performed to recognize reactions to the ad from viewers. Monster takes pride in their strong logo and dramatic designs. The effect of this will be easily
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measured by performing pupilometric testing to indicate the subject‟s level of interest, and brain pattern analysis to monitor the reaction of the viewer‟s brain. Post testing for print ads is difficult. Measuring the effectiveness of an ad can be directly measured in an increase or decrease in sales. Print ads are not viewed as often as in other forms of media to as many people so Monster will position QR codes to get a reasonable figure regarding the attention of a print ad and its viewer frequency. Online surveys will be available on Monster‟s website inquiring where the surveyor has noted Monster Energy‟s advertisements as well as other marketing questions to acquire feedback regarding print media used. QR codes are a new form of feedback that has begun to flood markets. While it is relatively new, the many uses for QR codes are still being developed to help maximize their marketing potential. QR codes have been proven successful in Asian nations like China and Japan, and will surely become mainstream in America too. Pretesting for these codes is not necessary. These codes will enable Monster marketers to better track usage and interest on many levels. Consumers embrace interactive resources for their favorite products. The implementation and positioning of QR codes will be convenient and beneficial for consumers as well as Monster Energy. Finally, Monster Energy will host a series of fraternity and sorority parties at colleges and universities across the country. While pretesting may be difficult, posttesting will produce significant response and allow Monster Energy to monitor and interact with potential and new customers. Upon attending a Greek Life party sponsored by Monster, attendees will be given free shirts and cans of Monster Energy
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with specific codes. They will be asked to enter the digits into the Monster website to complete a survey of their experience and a chance to win a trip to the X Games the following year.
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