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Case Details |
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Case Code: MKTG361
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| Case Length: 15 Pages |
| Period: 1935-2016 |
| Pub Date: 2017 |
| Teaching Note: Available |
| Price:Rs.500 |
| Organization : Monster Beverage Corp . |
Industry : Beverage Industry
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| Countries : US |
| Themes: Marketing Management |
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Monster: Reinventing the Energy Drink Market |
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INTRODUCTION |
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| In December 2016, Monster Beverage Corp. (Monster) signed a multiyear deal to be the title sponsor of NASCAR’s top stock-car racing series that was renamed as ‘Monster Energy NASCAR Cup Series’. In addition, Monster gained the “official energy drink” status for the racing series. The deal was considered one of the latest measures undertaken by Monster to not only compete with energy drink market leader Red Bull GmBh (Red Bull) , but also to offset a slowdown in the market’s overall sales growth (See Exhibit I for Information on the Energy Drink Market).
By sponsoring the title, Monster was expected to create new customers for its brand among millions of NASCAR’s fans – a majority of them aged 30 and older. Duane Stanford (Stanford), Editor of the trade journal Beverage Digest, said, “With a high-profile sport like NASCAR, it’s an evolutionary step for Monster to move up to the top echelon of motorsports sponsorship.”...
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