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MusclePharm's Arnold Iron Whey

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by

Shannon McLaughlin

on 14 December 2013

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Transcript of MusclePharm's Arnold Iron Whey

MusclePharm's Arnold Iron Whey Protein
MusclePharm Background
By: Cameron Barnett, Shane O'Brien,
Shannon McLaughlin, Frank Conti, and Evan Cannata
American nutritional supplement company
Headquarters in Denver, Colorado
Products sold in over 120 countries and available in over 10,000 US retail outlets (GNC, Bodybuilding.com, etc.)
Revenues exceeding $70,000,000 in 2013
Commonly referred to as "The Athlete's Company"
Arnold Iron Whey Protein
MusclePharm's newest product
Promoted by World Class Bodybuilder, Arnold Schwarzenegger
High quality protein
S.W.O.T. Analysis
Strengths:
Compliments other products in the procut line such as Arnold Iron Cre3 (Creatine) and Arnold Iron Pump
Gluten free and easy mix
Great tasting
Weaknesses:
Only available in 2 flavors
MusclePharm's other lines of protein
High retail price without discounts
Opportunities:
New protein formula attracts many athletes looking to increase muscle and performance
formula provides for effective competition against many other established brands
Arnold Schwarzenegger endorces and stands behind the product
Threats:
Other highly popular whey protein brands
New supplements entering the market annually
Hesitation of many to switch to a new whey protein brand
Environmental Scan
Trends:
Social - obesity crisis/health awarness
Competitive-Innovative formulas
Regulatory- Ingredients awareness
Technological-Use of social media
Economic- Low discretionary income
Identification of Buyers
Target ages 18-35
Middle-Upper Class
Mostly Males
Physically active people
Targets cities on east and west coast
Consumer Influencers
Psychological:
Satisfaction of results
Sociocultural:
Supplements are becoming more and more popular amongst fitness enthusiasts
Situational:
Dedication to working out
Money to spend on supplements
Social Responsibility
Shareholder Responsibility-Remain competitive to increase financial wealth
Stakeholder Responsibility-constantly be aware of potential ingredient issues
Social Responsibility*- Potentially could look into cause marketing with Arnold Series line

Focus Group
What are the benefits of protein supplements?
Would anyone be open to trying a new brand of protein?
Do you find protein is too expensive in general?
Social Media
Twitter
Promotes sweepstakes
New deals on products
Daily workout posts
Instagram
Daily posts of MusclePharm facilities
Videos from endorsers
Positioning
Use of Arnold Schwarzenegger to increase credibility
Innovative Science
Great taste
Wide range of potential consumers
Product Strategy
Why product will be successful:
Performance
Accessibility
Nutrition
Make changes according to product life-cycle
Pricing Strategy
Average profit margin of 5%-10% in the supplement Industry
Price drop from $34.99 to$32.99 for 2lb container
Price drop from $59.99 to $52.99 for 5lb container
60% of consumer base categorized as "uneducated consumer"
Newly implemented price drop intended to increase demand of uneducated consumer thus increasing profit
Distribution
Supply Chain
Marketing Channel
Current distributers: GNC, Amazon, Bodybuilding.com, 24 Hour Fitness

Plan to expand into other 11 retailers used by MusclePharm
Marketing Plan Evaluation
Calculate the total sales:
Dollar sales ($)=Average price x Quantity sold
Dollar Marketshare (%)=Ironman sales/Total Industry Sales
Reconduct S.W.O.T analysis
Become an Ironman!!
Full transcript