Amanda Elsen & Jenna Lueken P B P B Founded by Brian Maxwell, a Canadian athlete and entrepreneur. Him, his friend and his girlfriend used $55,000 cash to launch the company in 1986 in California. It was the first energy bar made for endurance athletes. Bought out by Nestle in 2000 for $375 million Maker of sports bars, protein bars, nutrition bars, energy fruit chews, energy gel and other products targeted towards distance athletes. P B Levels of Competition Segmentation Situation Analysis SWOT Analysis Objectives BIG idea Strategies Tactics New Product Development Budget Implementation Plan P B P B Young Individual fitness Adult Individual fitness Price sensitive Weight room buffs Outdoor experiential Dieters Young athletes Team sport athletes Nutritional eaters Natural eaters Organic consumers Training athletes Active parents Active students P B 5 C’s Company Power Bar ▪ Empowering student athletes to work hard ▪ #PowerUp – brand strength ▪ Product line made up of sports bars, protein bars, nutrition bars, energy fruit chews, energy gel, power trail mix, energy fruit drink ▪ Increased advertising & brand name awareness P B Collaborators Larger distribution of products Better location in grocery stores Also distribute to college convenient stores P B Context College tuition is increasing therefore students budgets for groceries causing decrease in demand for power bar. P B Customers High school & college student athletes ▪ Steady size of segment Elastic ▪ Price Sensitive Customers want: ▪ Tasty ▪ Energy ▪ Low price P B Competitors Nutrition Bar ▪ Cliff Bar ▪ Myoplex Bar Snack Bar ▪ Nutri-Grain Bar ▪ Slim Fast ▪ Fiber One Competitor’s strengths ▪ More organic ▪ Cost advantage ▪ Customer base advantage P B Strengths: They are nationwide and that could work as an advantage. Many well developed products, brand extensions and line extensions Social media presence Good shelf space and variety in the Duhawk Market Well-developed website P B Weaknesses: Power bars name is not well known Their product doesn’t taste good, really tastes like protein Not much shelf space at retailers Looks like a candy bar Don’t have many promotions- if so they are not well known Higher price Changed their slogan many times Have gained a negative connotation with the power bar name P B Opportunities: Availability to sponsor events such as the Tough Mudder/ Warrier Dash/ Nascar for publicity There is a trend for creating new protein products Many markets that have specific needs that don’t have a product developed Many different protein products available for purchase Use new technology- by creating apps for anything about anything P B Threats: Cliff Bars have much of the market for the same target audience Power Bar has. Many competitors in the protein bar area Protein products are seen as a single target market product, people who work out frequently People do not just eat protein bars like granola bars (as a mid-morning snack, or a filler for lunch) P B Sales/Revenue of Nestle Nutrition: $7 billion in 2013 Our modifications will add another $3 billion in revenue. Add another $1.5 billion in net contribution. P B Major redirection of the target market. P B Target young athletes who are looking to better their skills & themselves in sports. P B Student athletes who work hard to get where they want to be P B Empowering student athletes to work hard “Power Up to a Better You!” #PowerUp Healthy Tasty Affordable P B Power up to a better you P B 4 P’s Products Improve product taste Narrow product line ▪ Find a product target market likes then expand New product development ▪ Experiment with line extensions P B Price Single$1.79 Pack $17.88 More affordable ▪ single $1.25 Pack $12.50 ▪ 6 bars to a pack Compete with product competitors ▪ Chewy granola bar pack $13.08 ▪ 8 bars to a pack ▪ Smaller bars Place Present in college campus convenient stores Present in college concession stands Front of the grocery stores by the check out Closer to the grocery products ▪ Walmart- Placed in the diet supplement area P B Promotion YouTube more commercial and advertising Social media like and share contests School voting contests for sponsorship from power bar P B Facebook Status: Out with the old in with the new! Power Bar has made some changes and we need your help to make it a success. Check out the changes and leave comments at www.powerbar.com/#powerup Status: How does Power Bar help you #powerup? Submit your photos and be featured on the Power Bar website. P B Twitter RT this for a chance to win a Power Bar gift pack with new the new products #powerup #Powerup before and after every workout with the new improved Power Bar products P B Protein Trail Mix Power Mix ▪ Including: Nuts, Raisins, Yogurt Clusters, Protein Clusters, Dark Chocolate Chunks ▪ Packaging: easy resalable bag, easy to grab and go. P B Fruit Energy Drink Power Juice ▪ Including: Whole servings of real fruit juice ▪ Unique resalable bottle P B POWER JUICE Mango Passion P B Add New logo Keep Candy/Granola bar look Keep all products with a uniform look P B Partner with schools College bookstores College convenient stores High school vending machines Concession stands P B Nestle gave us 3 million dollars to create a new BIG idea to turn around Power Bar $1 million on new distribution areas $500,000 on new packaging with small alterations $1 million on the new advertisements with the new slogan and logo $450,000 for new product development $50,000 for promotional contests P B Eliminating the products we don’t want to sell any more Alter packaging for existing products Create more affordable prices Placement and Distribution put in to place Advertise the new product lines Implement Social media tactics #Powerup Create contests to attract more of our target market Develop the Power Bar position