Keeping tabs on your competition is one thing.
Decorating an entire wall of your office with their products is quite another.
For Tyler Benedict, it's a way to remember how hard he's worked and how quickly it could all slip away.
His display of more than 200 energy drinks represents the success he's earned in an industry that's more likely to send intrepid entrepreneurs into bankruptcy than into Donald Trump's tax bracket.
"About 80 percent of these are gone," he says proudly. "Most energy drinks fail in six months."
Benedict is the founder, owner and CEO of Greensboro-based Source Beverages, a thriving energy drink company with expected revenues of $2 million this year and distribution in more than 20 states.
At 31, Benedict works at home in jeans and button-down shirts, selling the most caffeinated energy drink on the market.
Burn, a tangy citrus-flavored beverage created in 2002, packs a walloping 118 milligrams of caffeine in each 8.3-ounce blazing yellow can 48 percent more than industry leader Red Bull.
But the creator of this human rocket fuel isn't what you expect. Benedict exudes an aura of calm and tranquility more typical of a yoga guru than the extreme athletes who down his product.
The University of Florida journalism graduate doesn't fit the mold of success in the billion-dollar energy drink busi-ness an industry where nearly 1,000 new drinks have been released in the past four years.
"We've been very careful not to grow too fast," Benedict says. "Lots of companies try to saturate the national market right away, and they go bust."
Red Bull, introduced in the United States in 1996, jump-started the energy drink business. The Austrian company has dominated the market ever since, and in 2004, its sales topped $1.2 billion. His other competitors include multibillion dollar companies Coca-Cola and Pepsico.
Benedict isn't fazed by the competition. He has a zen-like confidence that if he works hard enough, he will succeed.
"I can't even explain it, but Tyler never even seems to think of quitting," says wife Kristi Benedict. "It was something his parents taught him ... to have so much confidence."
An avid mountain biker, Benedict moved to North Carolina after college, not for a job (he didn't have one), but for the terrain. He met Kristi, an N.C. State graduate, while living in Charlotte.
He proposed three and a half months after they met.
Abelli, H. (2007). Mountain Man Brewing Company: Bringing the brand to light. (2069) Boston, MA: Harvard Business School Publishing.
After PDB acquired Crescent Pure in July of 2013, its management team was faced with a decision when discussing how the product was to be marketed -- some felt that the drink’s energizing ingredients would make it a better fit as an energy drink, while others felt that its hydrating elements would make it a better fit as a sports drink (Quelch, Zalsoh 2014). Crescent Pure was founded in 2008, as founder Peter Hooper wanted “a drink that would refresh, energize and enhance mental focus” (pg 2). However, Crescent Pure will be PDB’s first entry in the U.S., sports and/or energy beverage markets; therefore, in discussing the
Monster Beverage Corp. shows that they understand their customers’ needs. They are a successful business with higher growing revenue every year. Their revenues did decrease during the economy’s recent recession (2008...
The energy bar market grew from a grass roots effort focused on the consumer base of performance athletes. These athletes usually obtained products at competitive events that were geared towards the everyday consumer. The build up of this market is attributed to PowerBar, but there was significant contribution from others.
Monster Energy drinks are carefully crafted to appeal to athletes, musicians and today’s youth. It comes in a 16 ounce can that is sporty and colourful in comparison with other energy drink competitors. The product comes in a unique, glossy dark can that contains florescent green (or blue, red, yellow, purple) logo (claw marks in shape of an M) giving it an overall sleek and stylish look.
Because there 's no limit to the amount of caffeine allowed in energy drinks, the products ' makers can still put in as much caffeine as they want, According to the New York Times on an article call restrict caffeine in energy drinks by Barry Meier publish on march 19,2013, a 16-ounce can of Monster Energy will be listed as having 140 to 160 milligrams of caffeine.
Red Bull is a sweet, caffeinated drink aimed to give consumers the high energy kick. Available only in rather expensive 250ml cans, 350ml bottles, with 4 packs and only two ‘flavours’ (original or sugar-free). It contains caffeine, taurine, glucuronolactone, and B vitamins. Founded in 1984 by Austrian businessman Dietrich Mateschitz, Red Bull has become the worlds leading energy drink, a staple in many young, and active people’s lives.
Background - RedBull was launched in 1987 by GmbH and was derived from a Thai drink KratingDaeng. Austria was the first place where Red Bull started its business in 1987.It started its business in Hungary in 1992 and the United states in 1997. These were the first foreign market for a Red Bull energy drink. Itsslogan “RedBull Gives You Wings” started in German...
Stroll into any high school or college and one will definitely find energy drinks. Energy drinks are served in tall cans with garish designs and slogans designed to catch the attention of children and teenagers. But what are they? Commercials will tell people that just by drinking them, they can stay up all night, ace a test, score with a girl, and be happy. Some have even said to give you superpowers. According to the advertising campaigns, energy drinks are equivalent to omnipotence in a can. But are energy drinks all they claim to be? The simple answer is no. Often energy drinks turn out to be more than just sugar and caffeine which makes energy drinks dangerous. Energy drinks cause negative side effects, such as heart problems and obesity in young americans, and therefore should have a legal drinking age of 18.
The brand has identified themselves as a beverage that contains the “best stuff on earth,” which means any properties that would taste pleasant to the consumer. Members of the focus group stated Snapple was more believable as a brand if they endure their slogan, rather than trying to adapt to the environment around them such as the fitness market. Redefining themselves as a healthier beverage would make them lose creditability since they are known for their sugary juices and teas. On the other hand, the statement regarding energy did appeal to the group significantly. If Snapple decided to create an energy beverage, actions will stated to be taken. Nevertheless, the creditably factor was issue because a member stated to choose a energy drink that’s already in the market over a Snapple because she knows coffee will give her the energy she needs, but doesn’t know the outcomes of Snapple. Clearly, Snapple must classify their brand as a refreshment beverage, along with their slogan, because that is how consumers know the brand and will continue to distinguish it for other beverages on the
The beverage industry is highly competitive and presents many alternative products to satisfy a need from within. The principal areas of competition are in pricing, packaging, product innovation, the development of new products and flavours as well as promotional and marketing strategies. Companies can be grouped into two categories: global operations such as PepsiCo, Coca-Cola Company, Monster Beverage Corp. and Red Bull and regional operations such as Ro...
1.Red Bull differentiates itself in not only the soft drink industry by focusing on energy drinks solely, but also in the business industry, seeing how their strengths, weaknesses, opportunities for improvement, and threats all seem to blur together . The fact that Red Bull is seen as a luxury and sports drink is a strength, weakness, opportunity, and threat within itself (Kansara, 2); being labeled as such sets Red Bull apart from their competitors, pushing them into one field and industry to prosper in and be associated with, leaving them opportunity to determine the way that industry will grow as they are the pioneers but also threatening their hopes for expansion. In a nutshell, in order for Red Bull to truly work towards their mission
energy drinks when it comes to rehydration, firms were still able to use advertising to change
Do people actually understand the harm that energy drinks cause the human body? Millions of people around the world believe that energy drinks help them become more energized, but in reality they can cause more harm than good to the human body. More than 20,000 people have reported that they were hospitalized because of energy drinks, yet people continue to drink them because they became so addicted to the taste of the drink (ER). Energy drinks can lead to high blood pressure, cancer, reproductive problems, insomnia, heart palpitations and many more problems. Even energy drinks that say they are sugar free can do even more harm to your body.