Marketing Strategy and SWOT Analysis of Monster Energy Drink

Have you ever heard of ‘”Unleash the best”? We have as well. The latter is the slogan of an energy drink company that we all adore. In the morning, we have the tendency to have some caffeine because it wakes us up a bit easier. And throughout the day, whenever we feel like energizing ourselves, the same phenomenon occurs. But why is it that we pick one brand of energy drink over the other? What is so special about Monster that has brought it so much success? Well, we are about to find out in this blog while doing a deep dive into the brand’s marketing tactics.

To begin with, we are going to talk about the mission and vision statements of Monster.

The mission statement of the company is as follows.

“To satisfy consumers’ needs for superior quality and great tasting, healthy, natural, and functional beverages. Our beverages will be positioned as an upscale brand and will often be marketed at a premium for competitive mainstream products.”

Of course, if a brand offers people “energy” they are going to crave it. Correctly promoting these products is what matters the most. And Monster is definitely on its grind with doing that.

This company wants to firstly make sure that all customers are happy with the products that it offers. These products are not only for the sole purpose of providing your system with energy. They not only taste amazing but are comparably healthy, and natural products go in them.

Now, you might be thinking “There are too many brands in this category, how does Monster distinguish it from the rest?” Well, the company definitely has an answer to your question in their statement. Monster markets itself as a premium energy drink brand. This way, not only does it stand out from the rest, but it also has a competitive advantage.

The vision statement of the company is the following.

“To serve the best energy drinks to the customer with customer satisfaction.”

The vision is pretty interconnected with the mission of Monster.

Monster is one of those companies that truly deeply care about their customer satisfaction. Thus, the quality of the drinks has to match and why not even exceed satisfaction.

To meet consumers’ expectations, the company also has to advertise itself correctly. What it does is that it collaborates with athletes, musicians, and even its employees to create engaging commercials. The company does not limit itself to America. It has also traveled to other countries.

In the vision of the company, “Monster is way more than an energy drink”. And it is true. Every big organization can work to make awesomeness happen. Through these drinks people can get a better mood. People in the same office room across from each other may find a bond because of sharing a favorite drink. You can think of other random scenarios where Monster has been proven to be so much more than the obvious.

Another thing this brand really wants to do is be the first in the category in America and the whole world.

Moving on, we are going to uncover the archetype that Monster belongs to.

This post is in collaboration with Chase Sexton, who is an athlete that has many followers on Instagram.

The post is about dirtbike racing and Chase’s experience with it. The post describes what Chase goes through behind the scenes for preparing for his passion.

We see different shots of him riding his bike and exercising in the video. And, of course, he sips on his Monster here and there because the latter helps keep him energized.

If we swipe right, we can also see two photos. The first one is a regular picture captured from his ride. The second one is a close-up, which makes it possible for us to see that the Monster logo is on his helmet.

Now, what does this post lead us to?

The first thing we can notice is the revolutionary behavior. Dirt bike riding is not something that most people randomly choose as a career. Not only is it risky, but it is also a way of feeling free. That is the second hint we get, freedom.

And the last thing that is not really about the post, but the company itself is the price of the goods. Monster drinks are pretty affordable, so that most people can buy them on a daily basis.

At this point, it becomes evident that the archetype that Monster belongs to is the Outlaw:

What do we know about this archetype?

Desire: revenge or revolution

Aim: to destroy what is not working

Strategy: disrupt, destroy, or shock​

These are the messaging levels of the archetype.

Level One: feeling powerless, angry, mistreated, under siege​

Level Two: identifying as an outsider, the values of the group or society in a way that flies in the face of conventional behaviors and morality​

Level Three: behaving in shocking or disruptive ways​

Level Four: becoming a rebel or revolutionary

The Outlaw may be a good identity for your brand if:

• customers and employees are feeling extremely unhappy with society or identify with values at chances with those of the community at large​
• the function of your product is to eliminate something (actually, like a bulldozer, or virtually, like many video games) or is truly revolutionary​
• your product is not very good for people so that using it is related to flipping your nose at society’s views of what constitutes health​
• your product helps keep matters that are threatened by succeeding ones or pioneers new and revolutionary attitudes​
• your product’s price is low to moderate

Now, we are going to analyze the SWOT analysis of Monster.

Strengths

Strong brand identity: Monster drinks are eye-catching. The colors of the cans and the logo are unique from all other brands. Monster definitely stands out from the crowd.

Strong focus on the energy drinks market: Of course, Monster is an energy drink company. It does everything it can to stay on top of the market. 93% of this company’s revenues result from its category, being energy drinks.

A variety of options: Some people choose to pay particular attention to the number of calories they consume. They may also decide to cut down their sugar intake. Monster has introduced drinks that contain zero calories/zero sugar for people who choose to be mindful of their health.

Strong intangible asset portfolio: The intangible assets portfolio of the company is pretty strong. It even has more than 5200 documented and functioning trademarks.

Strong competitive advantage: There are many energy drink brands in the market. What Monster does, in particular, is that it utilizes its trademarks to hold a competitive advantage.

Broad product line: The company has been doing its best to keep up with the market. It has been making sure to enter nearly every non-carbonated drink idea lately.

Weaknesses

Limited target audience: We mostly see the company target the people that are religious followers of sports. But then, what about people that do not like sports but like energy drinks? This is definitely the main weak point of Monster.

Lack of traditional media marketing: Of course, it is fantastic that Monster keeps up to date with advertising methods. That approach makes sure that the company reaches wide audiences. But there is another portion of potential consumers that the company does not reach. That is because the company misses traditional marketing techniques.

Aggressive can designs: Some of the designs that we can see on the cans of Monster are assertive. This can sometimes be a reason for people to push away. Again, a portion of potential consumers is thrown out of the window.

Opportunities

Entering the carbonated category: Playing around with this category and coming up with new items could be a smart move for Monster. That way its product portfolio will become wider.

Association with sporting events: RedBull is a big competitor of Monster’s. Red Bull continuously collaborates with different sporting events to stay on top of its game. As Monster is already a leader in Energy Drinks, it can take its next step into consideration. That could be integrating more sporting events into its branding. That way, it can also beat its biggest competitor in a new way.

Low calorie and diet-conscious consumers: People now choose to consume healthy foods and drinks. In its next wave of customer acquisition, Monster should definitely try to increase the number of those customers.

Threats

Safety regulations: The government is coming up with new regulations regarding some of the ingredients that go inside Monster drinks. Those ingredients can ultimately be banned, which will take a toll on the company.

Intense competition in the energy drinks market: Even though Monster is a leader in the market, it still has competitors. People’s preferences can change, or other companies may come up with preferable products. Thus, Monster should do everything to stay on its level in order to stay away from possible risks.

Increasing labor costs in the US: This phenomenon could influence the general costs of Monster. In turn, the margins may also be reduced.

Lastly, we are going to watch an ad that will help us reveal the segment that Monster has chosen to target.

This video is again collaborating with athletes to convey its message. We observe different sportspeople doing their thing. We see a bike rider, a boxer, a basketball player, a football player, etc. The background is black, so the full-on focus is on these people.

This video is so unsophisticated as it shows the process of athletes working out. But all of that would not be a possibility without energy in their systems. Hence, we see everybody sipping on a Monster drink at the end of the video.

And then the phenomenal Monster logo appears on screen, acting as a proper end for the video.

What can we infer from this video?

The discipline and ambition of having a goal and working towards it are the significant hints we receive.

Being physically active is another thing we notice. These people are at the gym, and the latter is one of the favorite places of our presumable segment.

These two points are enough for us to understand that the segment Monster has chosen to target is Peacocks.

Lifestyle and values:

One of the most important things for Peacocks is standing out. They have different ways of achieving it. For example, they can do it by adopting an exceptional style, hobbies, or interests. The means of being original may vary, but the end goal is what matters.

Obsession with perfection tends to leave people with insecurities. But in this segment’s case, their confidence is never taken away. For instance, small faults in their career will never act as demotivators.

Peacocks adore setting goals for themselves. This is another aspect of their perfectionism. But, of course, achieving a goal is never easy or quick. So, what this segment does, is divide their goals into small steps.

Peacocks are at the top of their career. They make sure to get their education and every promotion at the workplace always to achieve new heights.

Peacocks earn a good amount of money. But because of their spending habits, they run out of money so easily. They will sometimes buy things just because they feel like it. Thus, they have almost no money left for actual necessities.

Attitude to shopping:

Something that we can be sure of is that Peacocks constantly purchase luxury items. This also contributes to their addiction to standing out. They want to dress nicely, hence expensively. They care about both the quality of the product and the quantity, or how many t-shirts they own, for example. Thus, one thing that helps them is discounts and special offers.

Peacocks stay up-to-date with current trends and try to dress in style. They haunt inspirations on different social networks.

Another thing about Peacocks is that they are brand loyal. So, once they like a brand they love, they will stick to it.

Other interesting facts:

• Peacocks value their looks and how they are recognized
• They frequently run to the gym. The gym is not only for getting and staying in shape but also for meeting new people.
• This segment desires to attend the cinema
• They are above average restaurant and bar goers
• Their friends must be like them
• Their primary source of information emerges from TV
• Peacocks adore reading magazines
• Utilize online platforms for staying social and communicating with people.
• A portion of them use print media and even less listen to the radio.

And that is a wrap on “The Marketing Strategy and SWOT Analysis of Monster”. One of the most fascinating topics that we have covered. What was that? You were wondering where you can access more? Well, for more and more engaging and informative blogs, make sure to check out our main website. We constantly update our feed, so you will never be bored.