Lucozade Sport Marketing Project - 3734 Words

Table of Contents 1. Executive Summary 2. Product Description 3. Current Market Situation 4. Current Marketing Strategy 5. Critique of Marketing Strategy 6. Findings Recommendations 7. Appendix 8. Bibliography Section 1: Executive Summary Lucozade sport is an isotonic sports drink aimed at the active and the health conscious, as well as athletes. Its unique selling point is its hydration qualities which are designed to increase the endurance of athletes. It has established itself as the clear market leader in the sports drink industry in Ireland over the past ten years. There are many factors affecting the current and potential future success of Lucozade Sport. These include external factors such as competitor activities and a†¦show more content†¦The effect of this aggressive competition can be seen in Figure 2, which shows a sharp decrease in Lucozade’s market share from 2002, following the introduction of Powerade (owned by Coca-Cola) and CC Club Energise (introduced in 2003) to the market. Every year since 2006, however, has seen Lucozade Sport regain market share, firmly consolidating its position of market dominance in Ireland. This trend endorses the quality of Lucozade Sport’s marketing, as it is succeeding in fighting off stiff competition. â€Å"Functional drinks is dominated by Lucozade brand, with Lucozade Energy and Lucozade Sport recording a combined volume (market) share of 54% in 2009† as stated in Euromonitor International (2011). Section 3: Current Marketing Strategy Market Overview The sports drink industry in Ireland is a highly competitive market, with sales of â‚ ¬203.2 million in 2009 and is predicted to grow to â‚ ¬301mn by 2014 (Euromonitor, 2011). Lucozade Sport has successfully established itself as the clear market leader in the category. It is the driving force in the sector, and is largely responsible for the 85.9% current value growth in the industry between 2004 and 2009 (Euromonitor, 2011). Pestel analysis: Political: The government in recent years has made an effort to reduce the sugar intake of children in schools and as such Lucozade Sport has been banned from some primary and secondary schools. Economic: TheShow MoreRelatedLucozade4161 Words   |  17 Pagescritically be discussing the marketing strategy, position and the marketing mix employed by LUCOZADE and the use of some principles. Therefore, the analysis will help to identify how brand is positioned in the energy drinks market and how company promotes its product. After analysing existing marketing strategies, recommended future strategies will be given to advice companies of where the brands are leading to and how they will get there. 1.1 Company Introduction LUCOZADE A pharmacist in NewcastleRead MoreEnergy Drink and Red Bull6148 Words   |  25 Pagesinflationary effects are discounted. Conversely, all historical data are expressed in current terms; inflationary effects are taken into account. 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