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Situation Analysis

With the increasing trends in companies with similar products and services create a notable platform for SWOT analysis and competitive comparison for strategic management and decision-making (Bytyqia and Vardarib, 2021). Similarly, creating an effective platform for product analysis through SWOT analysis is underpinning effective product management and marketing. Similarly, the product of choice is Monster Energy drink that requires articulation of Strengths, Weaknesses, opportunities, and threats underscoring situational analysis of the product. SWOT analysis accommodates internal factors such as strengths and weaknesses and external factors such as opportunities and strengths that will provide extensive situation analysis (Emet and Merba, 2017)

Strengths

Monster energy drinks as product posit notable including strong brand identity and recognition due to color and distinctive, robust market for the energy drink, accounting for 93% of the Company's total revenue. Another significant strength is the ability to use the trademarks to maintain a competitive advantage over others in the market and large product line with entry into almost every non-carbonated drink in recent times. According to the authors, Strength analysis accommodates the organization's internal strategies for the successful performance of the product (Sammut-Bonnici & Galea, 2015). Thus, the monster energy drinking accommodates fundamental internal strengths of the Company.

Weaknesses

There is internal weakness including limited marketing, lacking traditional media marketing strategies, aggressive design in the monster energy drink that can intimidate female consumers, and notable challenges in making production line and demands. According to the authors, Weaknesses in SOWT analysis explores internal challenges and weakness for effective outcomes (Helms, N., Nixon, 2010). Thus, the internal weakness of the energy drinks included limited marketing, lacking traditional media marketing strategies, aggressive design in the monster energy drink that can intimidate female consumers, and notable challenges in making production lines and demands.

Opportunities

Despite notable internal strengths and challenges, opportunities describe notable articulation of chances for success. Notably, opportunities include a venture into carbonated drinks, can capture the sporting arena, can use low-calorie and diet-conscious consumers, and the ability to compete effectively. Thus, energy drinking accommodates fundamental opportunities. Exploring opportunities is critical for Companies to expand and accommodate competitive advantages (Nassè, 2020). Thus, the energy drink product has notable opportunities for exploration and expansion.

Threats

The energy drink product presents notable opportunities such as venturing into carbonated drinks, can capture the sporting arena, can use low calorie and diet-conscious consumers, and ability to compete effectively, however, there are external threats that the Company should consider including government stringent regulations, intense competition in the energy drinks market, increasing labor cost, and inability to meet the customers’ varying taste and preferences. Thus, consideration of the threats can create an effective platform for an energy drink, replying to threats to create opportunities and strengths.

Strengths

· Strong brand identity

· Recognition due to color and distinctive

· A robust market for the energy drink, accounting for 93% of the Company’s total revenue.

Weaknesses

· Limited marketing

· Lacking traditional media marketing strategies

· Aggressive design in the monster energy drink that can intimidate female consumers

· And notable challenges in making production lines and demands

Threats

· Government stringent regulations

· Intense competition in the energy drinks market,

· Increasing labor costs,

· and inability to meet the customers' varying tastes and preferences

Opportunities

· Venture into carbonated drinks,

· Can capture sporting arena,

· Can use low calorie and diet-conscious consumers,

· And the ability to compete effectively

References

Bytyqia, B., and Vardarib, L. (2021). A Comparative Analysis between Two Energy Drink Brands: Red Bull and Golden Eagle. Journal of Accounting, Finance and Auditing Studies, 7/3 (2021): 121-135