VENEZUELA: Coca-Cola introduces sports drink brand
The Coca-Cola Company is aiming to win a share of the growing Venezuelan market for sports drinks with the national launch of its Powerade brand.
Coca-Cola hopes to have Powerade on sale throughout Venezuela by the end of September and to establish double-digit market penetration in the short term. Powerade will be made in Venezuela by the Panamco bottling company.
The company's innovations manager, Alberto Aranda, said: "This drink, after its repositioning, increased its share of the US market by 7%."
Coca-Cola will target the drink at young adults aged between 16-30 who regularly exercise. The company hopes to challenge Gatorade, which has dominated Venezuela's sports drinks market for the last 11 years.
Aranda confirmed that the brand launch will be backed by an "important" advertising campaign, which will focus on television adverts emphasising the brand's health benefits. Coca-Cola will also organise tastings throughout Venezuela in the hope of directly reaching 500,000 potential consumers and will make branded refrigeration units available to retailers.
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