Group Assignment

Summer 2023

● Group number: Group 2 1. Nguyễn Đức Minh - HS171088

● Class code: MKT1722 2. Vũ Đình Ánh Dương HS171100

● Subject code: MKT304 3. Cấn Thùy Linh - HS170831

● Lecturer: Trần Vi Anh 4. Ngô Phương Linh - HS171186

● Room: BE214 5. Nguyễn Tuấn Anh - HS170904

● Total word count: 6. Nguyễn Việt Anh - HS171175

Monster Energy
Marketing Plan By Customer Behavior
Prepared 14/07/2023
Table of Content
1. Present a brief introduction on the brand. Who are the brand's target consumers?
Develop a consumer persona for each target segment of the brand

2. What are the internal influences on the behavior of the brand's target consumers?

3. What are the external influences on the behavior of the brand's target consumers?

4. How do these internal and external factors shape the behavior and impact the
decision-making process of these consumers?

5. What are the marketing implications for the company? How can the company use this
new knowledge in their efforts to connect and build relationships with consumers?

B. Content

❖ Executive summary

A Marketing plan starts with an idea and moves closer to reality as we sit down and talk
about it. An idea will only be an idea if you don't want to execute it, don't think and spend
time on it. Proposals are the result of spending time on ideas and planning to make dreams
come true.

In general, proposals will be written on an idea, the purpose of which is to specify what the
idea needs to make it happen. Proposal writing will help us anticipate possible difficulties,
what we can achieve, and how we will go about it. Proposal writing will also help the team
implement the idea with a clear vision as this will be the collection of all the ideas
surrounding the idea.
This proposal proposes a marketing plan for Monster Energy based on customer behavior.
This marketing plan aims to increase the market share of the Monster Energy brand and drive
sales. This proposal will detail Monster company and analyze the current state of the
customer segment, behavior, external factor, internal factor, and develop a marketing plan.
Based on that background come up with ideas for the next campaign goal. From there, create
a detailed and clear implementation plan.

This marketing plan has been thoroughly researched and designed for maximum
effectiveness. Based on the information, and knowledge from customers of Monster, our
group will make a clear plan to achieve the goal of the business plan. Based on this plan,
Monster Beverage can detail more, get a full marketing plan, and achieve its business
objectives.

❖Introduction Company
Monster Beverage Corporation is an energy drink company based in the United States. The
predecessor of this company is Hansen Natural Company, which was established in 1930.
This company specializes in the production of soft drinks. This company existed until 1988
and then went bankrupt. This business was later acquired by California CoPackers
Corporation and renamed Hansen Natural.

Monster Energy was launched by this company in 2002, gradually becoming the main
product of the Company. By 2012, when the Monster Energy product line had accounted for
the majority of the company's sales, Hansen Natural changed its name to Monster Beverage
Corporation.

Currently, Monster Beverage Corp. is the second-largest energy drink company in the world,
after Red Bull, by revenue in 2020. The company's products are sold under a variety of
brands, including Monster Energy. , Relentless, Burn, NOS, and Mother. But the most
prominent is still Monster Energy, which is widely distributed in many markets around the
world.

Monster has become a global energy drink icon and is popular all over the world, present in
nearly 100 countries with more than 30 unique product lines such as energy drinks with
coffee, energy drinks with tea, fruit juices, etc. plants, proteins, etc.
❖ Target Customer
In general, Monster's target customers in Vietnam has the following characteristics
Demographic
- Gender: Male/Female
- Age, from 18-35, young, active, like
innovation but quite picky in using daily
products to ensure health
- Income: From low to high
- Usually have worked or are studying at a
university, with a good level of education.
Psychology
- Hobbies: The hobbies of those who use
monster energy drinks will usually be those
who like sports, and playing games... These
are two types of objects that have been
researched and launched by Monster.
- Personality: Perfectionist, detailed,
well-mannered but cheerful, optimistic, loving
life, focused on the set goal.
- Lifestyle: Healthy lifestyle, like to exercise
and care more about their own health.
Geographic
- Concentrate on big cities, such as Hanoi,
Ho Chi Minh City, Hai Phong, Da
Nang…
- Buy offline at supermarkets, commercial
centers or order on e-commerce platforms
if you don't want to travel a lot
Behavioral
- Demand: The need to find an energy
drink with a lot of caffeine to stay awake,
or add a lot of energy in a short time, but
do not like the taste of too many sugar
chemicals, and also somewhat interested
in health. In general, these are quite
important subjects about their health and
love delicious flavors.
- Frequency of purchase: Monster
customers often use this product regularly
with an average frequency of 2-3
times/week
 Despite many common features, Monster's customers can be divided into fairly clear
segments. Monster's customer segments can be divided as follows:

1. Extreme Sports Enthusiasts

2. Gamers and E-sports Enthusiasts

3. Students and Young Professionals

4. Music and Event Enthusiasts

5. Neutral User (People who like to drink energy drinks)

❖ The consumer personas for each Monster Energy's target

segments

Demographic/
Personality/Behavior Demand
Geographic

- Primarily young - passionate about They look for energy drinks that provide
adults, typically extreme sports such as the necessary physical and mental
ranging from 18 skateboarding, stimulation to enhance their performance,
to 35 years old. snowboarding, BMX, endurance, and focus during
motocross, and surfing. high-intensity activities.
- Citizen, Living
Extreme Sports
in big city - Thrive on adrenaline, -> Monster Energy aligns with their
Enthusiasts
excitement, and pushing rebellious, non-conformist nature and
- Mainly Male
their limits. represents the edgy lifestyle they
embrace, that energy drink with the
- Open-minded, love life,
slogan Unleash the beast is a great choice
always ready for new
experiences
 - Predominantly - spend a significant They seek energy drinks that help them
younger amount of time playing stay alert, focused, and improve their
demographics, video games, following reaction time during intense gaming
including gaming influencers, and sessions or during esports tournaments.
teenagers and engaging in e-sports
-> Monster Energy appeals to their desire
Gamers and young adults, age communities.
for enhanced performance, concentration,
E-sports ranging from 18
- tech-savvy and and the ability to stay ahead of the
Enthusiasts to 30
passionate about competition by the amount of calories
- Mainly Male competitive gaming. and caffeine, abundant inositol, and
vitamin B
- Living and - Focused, highly
working in big demanding, lots of
city energy and enthusiasm

- College students - Lead busy, fast-paced They rely on energy drinks as a quick
and young lives, balancing academic and convenient source of energy to
professionals in or professional combat fatigue, enhance focus, and
their early to commitments, social increase productivity.
mid-20s activities, and personal
-> Monster Energy resonates with their
pursuits.
Students and - Living and need for a reliable, on-the-go energy
Young working in big - Constantly on the go, solution that can keep up with their
Professionals city seeking energy solutions demanding schedules. Not only that, they
to stay productive and are often very worried about their health,
- Both male and
maintain a work-life so they choose energy drinks very
female
balance. carefully.

- love work, often tired,

enthusiastic about life

Music and Event - Varied age - Passionate about music, They seek energy drinks that provide a

Enthusiasts groups, typically attending concerts, boost of energy and help them stay
ranging from
 teenagers to festivals, and other live energized, engaged, and immersed in the
young adults and events. music and event experience.
beyond.
- Enjoy vibrant social -> Monster Energy appeals to their desire
- Both male and environments and being for an exhilarating, high-energy lifestyle
female part of a community that and aligns with the energetic atmosphere
shares their love for of concerts and events.
music and entertainment.

- Enthusiastic, love life,

have a positive lifestyle,
care about your health,
YOLO

- Covering a wide - Mix a lot of - They do not have too detailed

range of ages, characteristics requirements, the biggest requirement of
mainly 18-27 this type of customer is that the taste
- Generally are energy
must be delicious, natural, easy to drink,
- Live in both drinker addict
and make them feel refreshed.
People who like urban and rural
- Drink because they like
to drink energy areas, but mostly -> Monster has many flavors, with a
the taste of the energy
drinks urban delicious taste that is easy to drink.
drink they are enjoying,
Therefore, Monster can easily meet the
- Including both
- Buy when they feel needs of this type of customer, as long as
male and female
crave they are willing to spend the amount of
genders
25,000 VND to 35,000 VND for 1 can of
Monster.
❖Internal Influences

Overview

Internal Influences are factors that influence customers from within themselves. These factors
come from the psychology and inner mind of customers. These factors are the main source of
motivation, motivating them to make decisions. Internal influences have a great influence on
all customer decisions because it is the basis for customers to decide whether or not to buy
your product. Therefore, understanding internal influences is crucial for any brand. For
Monster, here are a few internal influences that directly affect the brand.

Perception

Perception is the human cognitive process, which involves perceiving and understanding
something in the outside world.

For Monster Energy's target customers, perception has a profound effect on their behavior in
purchasing. The age of 18-35 is the age of complete cognitive maturity, and then, these
customers are fully aware of what they need to do. Perception tells them that they are feeling
low on energy, that they feel tired, or that they feel they need more energy or motivation to
energize themselves, which in turn leads to buying behavior. In addition, perception is about
observing the environment, people, objects, smells, sounds, movements, flavors, and colors.
For Monster, Customers can be attracted by the diverse and attractive flavors of Monster's
product lines. Monster Energy comes in a variety of flavors, from traditional to innovative, so
everyone can find one that's right for them. In addition, Monster Energy also has a very
eye-catching exterior design, with vibrant colors and unique textures. This has helped
Monster Energy attract many customers, especially young people.

Monster Energy can find ways to influence perception to increase customer purchases.
because perception can be influenced by any behavior of a brand toward consumers.

Learning and Memory

Learning and memory are conditioned reflexes of humans. People are taught to constantly
learn and remember. This internal factor makes it possible for people to contact and
remember information very quickly. Therefore, it also affects the behavior and
decision-making process of customers.

People are taught to live healthily, and always protect their health. Even while using products
that are harmful to health, they will try to find the best products possible to avoid harm to
health. When using energy drinks, they will be able to choose Monster if they feel that they
are safe in using this product because they know it is not harmful to their health

For Monster's target customers, they are very easily influenced by repeated messages from
the brand, making them remember and influenced by what has been memorized, and can
influence decisions. purchase, because they will tend to buy what they already know.
Consumers are more likely to be positive with Monster Energy if they find the product
valuable and meet their needs, and their previous experience with the product has been
productive. And Monster can fully take advantage of this to make customers remember
themselves, thereby developing relationships with customers.

Personality and Lifestyle

Personality and lifestyle also influence consumer behavior. For example, people who stay up
late at night are more likely to be willing to buy Monster Energy products than the average
person. So if Monster puts out an energy drink ad during exam preparation months, it could
go viral. And customers are greatly influenced by their personalities. Strong people will
probably like Monster cans with very distinctive, masculine colors.

Energy Drinks are widely promoted as a product that boosts energy and enhances mental
alertness as well as for physical, adventure, sports, and action activities. desire to build an
active lifestyle that includes exercise, extreme sports, likes to play games or watch sporting
events. The type of water is known as a symbol of the "Work hard, play hard" style of young
people, attracting consumers thanks to the dynamic, refreshing, and energetic feeling after
drinking. So people who follow an active and busy lifestyle are more likely to have monster
energy than those who follow a sedentary lifestyle. They like to go out, travel, explore, break
out, and like fast, convenient, and highly effective products.

Monster Energy can also attack a healthy lifestyle. Since Monster has a line of sugar-free
products, this is great for people with a healthy lifestyle and can affect them.
Attitude

Attitude is the last internal factor that has a great influence on consumer behavior. Attitude
will determine their behavior in the short and medium term. Attitude: a lasting, general
evaluation of people, objects, advertisements, or issues. Attitudes can influence consumer
behavior by influencing how people view products and services, how they make decisions,
and how they respond to marketing messages. Through knowledge, beliefs and attitudes,
consumers will make decisions about how to buy Monster. Trust will directly affect the image
of products in consumers' minds, they will prioritize choosing products from companies that
they think are good, but sometimes don't learn too much.

And Monster Energy has campaigns that create a very good attitude with consumers.
Persevere, do not give up, be strong. The attitudes displayed by this brand inspire people and
they will stay with the brand for a long time. Monster Energy can enhance this to influence its
customers.

Creating a good attitude for users when they use the product will make it easier for brands to
retain customers, especially with FMCG brands like Monster.

❖External Influences

Culture

Regarding Culture, let's talk about culture or lifestyle in society.

Culture is the accumulation of shared meanings, rituals, norms, and traditions. Culture is a
society's personality.

Vietnamese people always tend to start work close to the deadline. For example, for the same
job, with the same deadline, within two weeks to be completed, the Japanese will complete
the work within the first week, the next week is for editing and finishing.

Vietnamese people will not complete that work in the first week but try their best in the last
week. Even when problems arise, they are willing to stay up all night to get the job done.

It is because of this culture of Vietnamese people that staying up at night to meet deadlines
has become extremely popular, they will always have to keep themselves awake to complete
the work as soon as possible. Even from someone who used to go to bed early and wake up at
7am every morning, when entering the work environment, they can become a night owl and
work until morning.

For Monster's customer file, people from the young class, including the majority of students,
newcomers to the office work environment, gamers, etc. will tend to have a working culture
in the early morning. night a lot. Working at night is often contrary to normal hours,
especially affecting alertness and energy - which is very important to ensure smooth work.
Therefore, they will need to look for products containing caffeine that complement them. →
Monster Energy is one of the products that can provide a solution for them.

Income and Social class

Income level and social status also affect consumer behavior equally. I & SC always go hand
in hand.

I & SC both affect how we spend money. Each consumer has different income sources and
different social status, leading to their different purchasing behavior. People who belong to
the lower class and do not have a high income source will often consider many factors to see
if they really need to buy a product. While people of the upper class and with high incomes
are quite comfortable shopping, they only care about the quality of the product and if it
provides what they need, they will buy it.

Monster Energy's products are aimed at middle-class and 18-35 age segments. Normally, an
energy drink bottle costs about 10,000 VND - 15,000 VND on the market today, but Monster
has an average price of about 25,000 VND - 30,000 VND. However, Monster's product lines
are sugar-free, adding substances to help keep you awake without too much sugar affecting
health.

If based on the perspective of people from the lower class and do not have a high income,
they will tend to choose cheaper products even though they know that Monster Energy is less
harmful to health than other energy drink brands. Their wallet is the key factor in shopping,
because they know they have a lot to spend, the money they spend on one can be better used
for something else.

Based on the perspective of people of the upper class and high income, they do not mind
paying for a can of Monster Energy without considering other brands, because the most
important thing is that the product provides many benefits. for them. For them, price is not a
barrier because they are not constrained in spending, what they care about is that what they
spend money on must have maximum benefits for themselves, then they will buy.

From the above, it can be seen how I & SC affected the behavior of each subject differently.

Group

Group and Social Media greatly influence consumer behavior.

Talking about the Group factor, that is, talking about how people around affect consumer
decisions. As for Social Media, it is what makes the impact of those around them more and
more deeply influenced by consumers, especially Word of Mouth.

For example, when a customer is talking to a friend, when people mention Monster energy
drink frequently, the customer will also think of buying a can of Monster Energy. Or when
people like KOLs, public figures who have social influence, if they mention Monster Energy,
customers will also think of buying that can of water. So maybe from someone who has never
used an energy drink, but because people around him always mention the presence of
Monster Energy, they become someone who is always thinking and considering buying that
product.

According to the current era, social media is developing very strongly, users always prefer
personal searches and tend to consult a lot from reviewers or KOLs, especially word of
mouth through social networks. festival. Therefore, as long as people around who talk about
Monster Energy on social networks constantly appear in front of customers, they also affect
consumer behavior, namely they can ignore it. It's always because they believe in those
influencers that it's always a matter of weighing other brands and spending money on
Monster Energy products.

Even if customers live in a group of people who often stay up at night working and use
Monster as a solution to combat sleepiness, customers will also tend to be like that and use
similar products. , because by nature humans are social animals and they greatly influence
each other's lives.

Monster's customer file belongs to the young class, but often the young people are always
moved by surrounding conditions such as word of mouth, social networks, etc.
❖ Subculture

One of the largest Monster user communities in Vietnam is the Monster Energy Vietnam
Facebook group. The group has over 100,000 members and is a popular place for Monster
fans to discuss the brand, share their experiences, and connect with other fans.

In addition to these online communities, there are also several offline Monster user
communities in Vietnam. These communities are usually organized by local Monster
distributors or retailers.

The Monster user community in Vietnam provides a valuable resource for Monster fans.
These communities allow fans to connect with other fans, share their experiences, and learn
more about the brand.

❖Decision Making Process

External

Problem/Need Recognition

The buying process begins when the customer realizes a need — the buyer recognizes a
problem or his need. Group and SM can trigger this need. For example, when a customer is
talking to a friend, when people mention Monster energy drink frequently, the customer will
also think of buying a can of Monster Energy. Or when people like KOLs, public figures who
have social influence, if they mention Monster Energy, customers will also think of buying
that can of water.

Cultural factors also trigger demand. Because of what has been analyzed in how Culture
affects Monster's target audience. In terms of the working culture of Vietnamese people,
consumer behavior will also be changed because people will tend to stay up at night to work
rather than meet deadlines during the day. And staying up at night is the opposite of a
person's daily life. They will have a need to stay awake in order to perform work at night,
which means they need to find ways to maintain their alertness during working hours.

Information Search
Interested consumers may or may not seek further information. If consumer demand is strong
and a satisfying product is close at hand, they are likely to buy it. Otherwise, the consumer
can store the need in memory or perform a search for information related to the need.

For example, when a customer has decided he or she needs a can of Monster Energy, he or
she will at the very least pay more attention to the Monster ads, the Monster cans owned by
friends, and the Monster conversations. According to the current era, social media has
developed very strongly, users always prefer personal searches and tend to consult a lot from
reviewers or KOLs, especially word of mouth through social networks. . So, as long as the
people around who talk about Monster Energy on social networks constantly appear in front
of customers, they are all information (both good and bad) that affects step 2 in Decision.
Making.

Evaluation of Alternatives

Of course users will also look for other brands in the same industry as Monster. In some
cases, consumers use careful calculation and logical thinking. At other times, the same
consumers become emotional, buying on impulse and relying on intuition.

At this time, the Income and Social Class elements will intervene directly. Usually people
will tend to choose cheap items, but this will apply to people of the lower class and low
income, with a product of high quality and targeting the target audience. middle-class people,
they will consider a lot before making a decision to choose Monster Energy products. But for
people from the upper class and with high income, things become different, their buying
behavior becomes different when they only focus on product quality and not on price. As
long as the product is of good quality, like Monster is currently the leader in product quality
in the energy drink sector, they will not be interested in other energy drink brands.

Product choices

After comparing other solutions with Monster Energy, the customer will decide whether to
spend money or not. Talking about the Group and Social Media factors, just needing friends
around or online reviews to constantly mention the attraction or encourage buying Monster
Energy products, customers will also be more or less flustered and tend to be inclined to ME,
willing to spend money to buy ME, and vice versa.
Income and Social class also affect product choices, as users will have to consider whether to
spend money to buy products or not depending on how much money they have in their
pocket. If they feel the product is too expensive for them, they are willing to give up buying
the product, and vice versa.

Internal

Problem/Need Recognition

Perception will be what greatly influences step 1 in the decision-making process. When a
person matures, they develop well and fully in terms of awareness, which is equivalent to
realizing what they need, what their needs are. Here, consumers' problems and needs become
clearer, no longer ambiguous.

The Personality and Lifestyle factor is the same, for a person who tends to always need
energy and radiate energy in life, they always have a need for additional energy to maintain
what is associated with personality and style. their way of life. Energy drink products like
Monster Energy will be one of the options for consumers.

Information Search

Here, Learning and Memory is what affects Information Search. As users tend to always
learn and remember, it is equivalent to searching for information to know more about
Monster Energy's company or products. There will be a lot of information coming from many
different sources. People are curious, they will be active and engaged in searching for
information, storing the necessary information to lead to a purchase or not.

Evaluation of Alternatives

At this time, the perception will play an important role, because at this time they will
self-assess which product features are suitable for them, how the product's image is to decide
whether they should buy or not. Are not. For example, what they need in Monster Energy,
whether Monster Energy products meet their needs or not, they will also be aware of the
strengths and weaknesses between products in the energy drink field. Star.

Product choices
In the end, whether to spend money to buy the product or not, depends on their attitude. If
consumers have a positive attitude towards the brand, that is, they have a good view of the
brand, or higher, love the brand, they will tend to use the products of that brand for a long
time. . If Monster Energy company makes an impression and maintains a relationship with
consumers, consumers will perceive Monster Energy as the best energy drink product for
them, and then they will spend money and buy it regardless of how much they care about
other brands. That means Monster Energy becomes the top of mind of consumers.

Marketing Implications for Monster Energy

The meaning of Marketing based on customer behavior

Studying consumer behavior is important because this way marketers can understand what
influences consumers' purchasing decisions. By understanding how consumers decide on a
product, they can fill gaps in the market and identify products that are needed and products
that are obsolete. Researching consumer behavior also helps marketers decide how to present
their products in a way that creates maximum impact on consumers. Marketers can also
compare and classify factors affecting consumers in different geographical locations,
incomes, and ages, .... Understanding consumer buying behavior is the key secret to reaching
and engaging your customers and converting them to purchase from you.

From behavioral analysis, businesses can make more accurate decisions in creating marketing
campaigns. Making the right decision is vital for the company because one wrong decision
can affect the entire business, at worst it can lead to bankruptcy.

Therefore, the meaning of Marketing in any company is extremely important, and to achieve
that purpose, companies need to rely on customer behavior.

Marketing Implications by increase customer behavior specific

for Monster Energy

Monster is an energy drink company with a very young audience (18-35). Given the
demographics of this customer file, they have lower loyalty than others. Not only that, this
customer file also tends to catch the trend very quickly. Along with the digital age, fast
 content, and trends appear very densely in society. Therefore, Marketing is very important for
this brand. Effective marketing will mean the following with Monster Energy:

● Increase revenue. Monster's main revenue comes from this customer file, understanding
customers to come up with reasonable campaigns will help the brand significantly increase
revenue in a short time

● Strengthen relationships with customers. Come up with marketing campaigns that will help
Monster connect with its customers. For an FMCG brand, the most important thing is the
relationship with the customer. When you have a good relationship with your target
customers, what you launch will receive great support.

● Relationships with customers also help Monster’s campaigns become more viral because
those audiences will have communities around them, and good relationships with customers
will promote spread through influence groups. People are influenced by external factors a lot,
and when Monster already has close relationships with customers in influence groups, social
classes will help businesses get more new customers.

● Bringing sustainable development to Monster. All of the above benefits will help businesses
get the biggest benefit: Sustainable development for businesses. Enterprises develop
sustainably, increase influence, market share, and share of voice in the market.

How can Monster Build relationship with the Customer

Overall

For an FMCG business like Monster, building customer relationships is extremely important
as analyzed in the previous sections. This brand itself also has a defined customer file, and it
is a niche in the beverage market. And based on the points analyzed above, there are a few
ways that Monster can build and improve relationships with customers, thereby creating
sustainable development.

Specific

Based on the 4Ps of marketing, combined with customer behavior through internal and
external factors, Monster can completely take directions to improve their own market share
and revenue. Connecting and building relationships with consumers is essential and has
lasting value for all companies, with the exception of Monster Energy. For better growth,
Monster Ener improving eacergy may considh of the 4Ps in the brand's marketing mix.
 ● Product

For enterprises producing and trading in consumer goods, product consumption is also a key
factor that determines the existence and development of enterprises. It also means that the
product plays a very important role. **Product Feature Enhancement and Product
Personalization are two options that Monster Energy can use.

Enhance product features

The company can identify consumer preferences, market weaknesses or internal information
and incorporate them into the product development process.

It could be adding new product features or introducing innovative variations, for example
creating a new product line with ingredients that are healthier for consumers.

They can also improve quality by improving the quality of existing products based on
consumer behavior, by taking feedback and seeing it positively, or by finding out what is
weak. What factors make them choose another brand, what is missing in the current product
that does not meet consumer needs, etc.

Personalization

Here we can talk about customization options. Monster Energy can think of creating a contest
or playground for consumers to design their own products, attracting people to unleash their
creativity on products. Monster Energy is also a company that has a lot of different product
designs and packaging, which is also an impressive factor for consumers, because consumers
also like diverse designs and suitable for their style. .

- Monster Energy can also design products with personalized packaging such as creating a
common interest of a type of person (such as active group, introvert group, designer group,
...) to create a unique fit to the individual personality and characteristics of the consumer.

● Price

Dynamic pricing
Leverage new knowledge to implement dynamic pricing strategies. By analyzing consumer
behavior and market trends, the company can adjust prices in real time to optimize revenue
and meet consumer demand. In addition, the currency is always depreciating over time,
combined with quotes from competitors, Monster Energy has to fine-tune the price to match
and attract customers. For example, if a competitor's product is 10,000 VND for a can of
water, Monster Energy can consider adjusting the price by creating a product with the same
price, just the capacity in the water can. shorten to compete on price with better competitors.

Value-based pricing

Use the insights obtained to understand the value consumers place on the product. This can
help the company determine the right price that matches the consumer's perception of value.
For the mid-range and above, they are quite interested in what they get from Monster Energy
products. If they are satisfied with what the company offers (like helping them stay awake,
the product does not affect their health too much because of the sugar content), that will be
the basis for us to adjust the price higher. little to match the value we provide to our
customers, thereby having more optimized revenue.

● Place

Monster's marketing campaigns should focus on placement. Placement is a very important

part of any campaign.

Based on internal and external factors, Monster's target customers are increasingly using
digital devices. Subculture groups also have a great influence on the behavior of this
customer group. Therefore, Monster can direct its campaign more towards digital, because
this will meet the needs of customers, and Monster's target customers will be more satisfied.
These campaigns can also attract many target customers.

Monster can also optimize their campaigns across channels because each channel will have
the ability to reach different customer files. Monster's optimization of the channels that bring
them the most revenue can improve user experience and optimize revenue for businesses.
 ● Promotion

Regarding Promotion, based on internal factors such as personality, and lifestyle, or external
factors such as income or subcultures, Monster can launch pricing strategies that are suitable
for those in this group.

They can launch promotions suitable for these audiences, which will attract more customers
to experience your service, spreading the value Monster can bring to those customers. Having
the right promotions, for example, a sale on a customer's birthday can also bring great
sympathy because people have the perception of valuing things that bring them a lot of value
and also respect them.

In addition, Monster can also launch strategies based on the value of the product. They can
launch special strategies, in conjunction with the KOL, based on the message the product
delivers. For limited products when collaborating with KOLs, influencers can bring more
value by collaborating with such people. This can both inspire customers and drive
purchases, thereby optimizing the revenue value for Monster Energy.

Monster can also launch promotional strategies for each specific customer, such as for
students, gamers, etc., Subcultures can have a great influence, spreading the product to the
community, and growing Monster's relationship with its customers, resulting in greater
revenue for them.

END