Psychological factors
According to Talloo (205), an individual’s purchasing decision is influenced by a number of psychological factors such as beliefs and attitudes, motivation, and perception. Another psychological element relates to the consumers’ tastes and preferences (Schroder 56). Additionally, the decision to purchase the energy drink is also influenced by the consumers’ beliefs and attitudes regarding the energy drink. Some of the beliefs and attitudes that may influence the consumers’ purchase decision of the energy drink relates to the associated quality and health benefits. For example, most dieters would prefer the energy drink. Some consumers may prefer purchasing the energy drink due to its characteristic of helping dieters.
Social-cultural factors
One of the social-cultural factors that influence the consumers’ decision regarding the purchase of Rockstar energy drink relates to opinions of various reference groups. In their purchasing patterns, consumers seek the opinion of others regarding the product they intend to purchase. This is aimed at reducing the time used in evaluating the effectiveness of the product (Lamb, 107). For example, the consumers may seek the opinion of various reference groups, for example, coworkers, friends, and family regarding the energy drink (Hawkin, Mothersbaugh & Mookerjee 32). Additionally, the decision to purchase the energy drink is also influenced by the consumer’s social class. The energy drink is very famous amongst extreme crowds such as hip-hop enthusiasts and sportsmen and women (Delano para. 13).
Situational factors
Lake (92) asserts that consumer behavior is also affected by situational factors. Some of these factors relate to personal, situational factors (Lantos, 146). For example, a decision to purchase Rockstar energy drinks may be influenced by the need to quench one’s thirst and to boost one’s energy. Situational factors are usually beyond the marketer’s influence. However, marketers can manipulate this element of the shopping process through effective product positioning.
Global marketing presence
Type of global presence
In its marketing process, Rockstar Incorporation has integrated the concept of global marketing. As a result, Rockstar energy drink is readily available in different parts of the world (Rockstar Energy Drink 1). The firm has ensured the global presence of the energy drink through the incorporation of various marketing channels, such as the use of agents.
The overall importance of global sales to the product
Rockstar’s global sales play an important role in the growth of the energy drink’s market share. This arises from the fact that the revenue generated from the sales enables the firm to undertake effective research and development in order to improve the energy drink. Additionally, the sales also enable the firm to undertake effective promotion of the energy drink in the global market (Dietspotlight.com para. 3).
Differences in product marketing overseas
In its international market, the firm’s management team has adopted a different marketing strategy compared to that in its domestic market. One of these relates to exporting the energy drink to the various markets. The firm also uses credible agents and distributors in order to ensure the presence of the energy drink in the international market (Dietspotlight.com para. 3).
Market segmentation and product positioning
In its operation, Rockstar has appreciated the fact that market segmentation and product positioning enable firms to satisfy their customers’ needs (Cant, Strydom & Jooste 103). Rockstar has segmented and positioned its market on the basis of the consumers’ lifestyle and product usage. This has been attained by targeting various categories of consumers, such as the working class, youth, and sportsmen and women. Its positioning strategy has been anchored on the claim that the drink provides the energy needed by the consumers.
Marketing Research
The competitors’ products positioning
Rockstar energy drink is competitively positioned compared to other energy drinks such as Redbull and Monster energy drinks. This arises from the fact that the price of Rockstar energy drink is relatively low compared to those of its competitors.
Positioning map
The perceptual map below illustrates the position of Rockstar energy drink on the basis of two variables, which include price and quality.
Market share breakdown for Rockstar compared to that of its competitors
The graph below illustrates the market share for the Rockstar energy drink.
Works Cited
Cant, Michael, Strydom, Joseph and Jooste, Charles. Marketing management. New York: Juta and Company Limited, 2010. Print.
Delano, Chloe. Energy drink market: History, growth, projections, trends and the uncertain future of energy drinks. Enzine Articles. 2009. Web.
Dietspotlight.com. Rockstar enerdy drink review. 2012.
Hawkins, Del, Mothersbaugh, David and Mookerjee, Amit. Consumer behavior building marketing strategy. New Delhi: Tata McGraw Hill. 2011. Print.
Lake, Laura. Consumer behavior for dummies. Hoboken, NJ: John Wiley, 2009.
Lamb, Charles. Marketing. Toronto: Nelson Education, 2012. Print.
Lantos,Geoffrey. Consumer behavior in action: Real life applications for marketing managers. Armonk, NY: M.E Sharpe, 2011. Print.
Rockstar Energy Drink. International. 2009.
Schroder, Monika. Food quality and consumer value: Delivering food that satisfies. Springer, New York: 2003.
Talloo, Mark. Business organization and management. Delhi: University of Delhi, 2003. Print.