Who buys your brand? What does it
mean to your consumer? These are some regular queries raised by brand experts
even in casual discussions. Brand success/failures happened or yet to happen can
be very well ascribed to the lucidity of the above questions. The Indian
consumer today has evolved, reflecting a
radical shift in their preferences. Consequently, several brands were lucky to
intrude into the consumer’s mental landscape. One such category that gained
traction in the country is the energy drink category. Fyre Energy Drink is the new
enthusiastic and innovative addition to the category.
Energy drink traditionally is an
under- noticed category in India. Consumer awareness is abysmally low compared
to other beverages. Even though, market research reports forecast a CAGR of
9.22% for 2020 – 2025, market penetration is relatively a tough task. Moreover,
unlike other beverages, the energy drink category has a dominant player who
enjoys a healthy market share of above 80%. Hence, it compels a new brand to be innovative in its approach to the
market. In this context, Fyre was prodigious in its approach.
Fyre differentiated with the product
form. They are the industry first to launch a ‘cut-pour-stir’ format(Read
Powdered) of energy drink that comes in sachets. Sounds good and rather
innovative. Moreover, the portfolio includes various flavours such as classic, orange, and lemon
and Fyre energy shots that are available through e-commerce platforms. Fyre available in different price points such
as Rs 5, 15, 30, and 60 ensures affordability and
confirms price differentiation. On view through a branding lens, I am worried
whether Fyre is following the predecessors Urza, Tzinga, SoBe, Sting, etc.
Theoretically, companies keep product
characteristics or consumer goals as the ‘Frame of Reference’(Point of Parity)
to claim membership. However, if a dominant competitor who exemplifies consumer
goals exists they become an obvious frame of reference. Fyre, as a powdered
energy drink, I feel does not match with category prerogative. The idea of
Sachet packs further distance the brand from the category. Then how can you a
member of the category? One must remember the fate of ‘Instant Horlicks’ which
failed in the market miserably.
The three propositions of the company value
for money, sugar-free, and ease of storage/carrying are considered as Point –
of – Difference. How energy drinks are sold in India? Functional or Emotional. If
functional is the answer, then Urza must not fail. I strongly believe that for
Indian market energy drink is predominantly an aspirational lifestyle product. Consumer
buys it as a lifestyle statement. Hence, emotions surpass functions. Without
belittling the efforts behind developing a disruptive brand, I should say that Fyre
is a good brand in the wrong basket. However, the consumer mind is a black box.
They decide the fate of any brand I wish Fyre will have their dominant days
pretty soon.
