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There are many energy drinks. What makes yours different? Who is your target audience and why do you have the skills resources to build this product that differentiate yourself. 10-15 doesn’t seem like nearly enough without hearing more
So what do you think S1?
#product #product_management # #Entrepreneurship #energy_drinks #beverages #manufacturing
Energy drinks are incredibly common now. Even ones with natural ingredients. So, why do you think your brand is better or different? Does it taste better? Is it made with some crazy new ingredient that no one has ever heard of? Different flavors? Although I would argue and none of those on their own will build a brand. What is your point of view on why this is better and why athletes will care?
If you are at an advertising or PR agency, you could ask them for the client input brief template. What that will do is force you to go through a strategic exercise where you have to get down on paper the things that would help creative build your brand. Even if it’s something like “made with coffee beans from Costa Rica instead of artificial sugar” that would give a starting point.
Athletes is a very broad market. Are you thinking college students? If that’s the case it will impact your price. Or are you thinking more of a niche? Quite frankly that’s where I would start. If it’s an energy drink you could look at high-performance athletes of some sort. Maybe it’s high intensity training, maybe it is cycling, maybe it’s boxing. Whatever it is if you only have a limited budget, I would start with one community, test and learn, and then figure out what your mistakes are and where you can be better. remember you are appealing to athletes, and they want to know that what you offer will help them excel at their sport. Gatorade started out as a drink for football players and eventually made its way into other sports and households.
Thank you for your input VPS1. I just had a conversation last night about narrowing the market and focusing on niche market and I will definitely be going after new boxers and new Cyclists and a few other high intensity sports. I think your spot on.
I will be focusing on the product and its enhancing ability to help the athletes perform better in their sport. Not 100% sure how or what its unique twist will be but I have start the journey of discovery.
Thanks for your thoughts, invaluable.
Simple and short.
It's like any software product. Find one specific area where you can dominate and focus on saturating that. Then expand.
Did you know red bull started out purely focused for for drivers at night to keep them awake because coffee shops were closed?
Clearly it worked, they pivoted and are in a different area.
Start small and saturate. As soon as you start larger scale, competition will drown and out perform you.
PL1, wasnt that 5 hr energy and not redbull
Is there a separating feature of your drink from other drinks? Non carbonated? Taste? Nutritional impact? Is it geared for a specific type of athlete? How much caffeine?
Let me get back to you on this.
Sure,
why me, operations knowledge, scrappy and able to create processes that are scalable. Good at managing team to reach goals through a planned project, with the ability to change (be agile) as required. Great planner and executioner.
The drink focuses on stamina
Target Market: rising athletes
10-15 k again is initial start up cost, 8-12 months of soft marketing, awareness, and reach, while refining target market. Website and a mock up of the product.
Total cost to launch a projection like this is 250k - 300k.
Further skills, I have a background in business, have a few failed start ups under my belt. And one business I didn't have time to scale. Growing my knowledge in the product management department.
Any thing else that would help you help me please ask.
I have no knowledge of this stuff but my general knowledge so take this with a grain of salt but what I think they are asking you is what makes your product different. Almost nobody cares who’s behind the product unless they are investing in it. They care about wether it’s natural ingredients supports certain areas ect. What makes you different from red bull, monster or even pre workouts like C4 or the thousands of other companies since you want to target athletes. If you want to target athletes you’ll have to find people who aren’t already branded and offer then brand deals (then bank on them growing themselves and your product). Most of these products make money because their brand ambassadors have a large audience that is loyal to them and the crap they spew wether it works or not.
I’d not try to compete on the stage with Red Bull, but rather find the niche and invest heavy in it.
When that niche is wearing your hats and t-shirts as cool factor, branch out in the community of followers, watchers, writers, and related branches that also want to be cool.
Mentor
Beverages can be tough, but I know a few people who have been successful in it (skinny girl, house of saka, humm). Presuming you have the formulation, stability studies and nutrition analysis done, and you selected a co packer/bottler the next challenge is distribution. liquid is expensive to ship and difficult to get on store shelves
If you can crack the distribution problem and willing to invest a lot of marketing dollars it could be great!
Talk to a consultant who knows the beverage industry. There are a few out there who can help.