The worldwide wine market is very explicit. It has the particularity that no one wine company (even in the modern world history) should have more than one percent of the market shares, in contrast to other beverages such as sodas. The wine sales have been showing solid growth in recent years
Globally, the two countries leading the wine production are France and Italy. But these two countries are also witnessing a steady erosion of their worldwide market shares. And these markets are also predicted to continue losing their shares of global consumption from 50% in 1975 to just 25% by 2010. On the other hand, the US has a share of 19.4%, followed by France with 11%.
We are facing a quick changing market where the sales are subjected to many forces. It is therefore a continuing challenge for any wine producer to develop its sales and market shares, bringing the right product at the right place at the right time and at the right price. In order to get those elements together, a marketing analysis is a critical step when entering a market or increasing sales in an already existing market.
In this marketing e-portfolio, I am going to work on Taylor's, a Port wine (also and originally called Porto) producer. The product is a Portuguese fortified wine that is very sweet and tasty, often used with dessert or as a pre-dinner drink. I wasn't able to find a regular bottle at a decent price easily in the US, and I personally love this wine.
First, I am going to present the product, and the company in its environment in the first part, then I'll develop a marketing plan to sell its products in the US. Finally, I'll support that plan with some marketing communication visuals.
[...] That's where this kind of Port gets its name. This Port is a daily drink. It makes an ideal aperitif or afternoon drink. It is also the most consumed drink in France The Ruby Port is a young Port that spends at most 2 years ageing in a barrel The bottle aged tawny Port is a gathering of different Port of different years. The age we give to the Port is then the mean of the ages of the compounding Port. [...]
[...] This announcement is great for wine producers. Threats ✓ Crisis: the world is going through consumption issues. It is a factor that could incite to postpone a marketing campaign for better days ✓ Legal issues: Governments tend to lower the alcohol consumption through tax raises and advertising campaigns. Those can come up anytime and present an unforeseeable danger. ✓ Currency rate change: The European exports to the USA are facing a loss of competitiveness since the European products are sold in EUR, making it expensive when buying in USD. [...]
[...] Given those information, now we will look into a marketing strategy using the 4 Ps. The 4 Ps Product The product we are going to market will be of a quality of 750ml Port bottle. Taylors has a varied and complete range of those products. The price range is wild as well, allowing reaching all the budget groups. What we want is to make people buy Taylor's port rather than any other aperitif drink, and especially rather than any other Port. [...]
[...] E.g.: I remember when I was in America, I use to buy a Port bottle at the Trader Joe's sometime because they had a really nice Port there (especially for the price). I had a roommate who used to open up some nice bottle of wine with me sometimes. Once, he saw me drinking some Port and asked me what it was. I was surprised he never had it before, especially since he liked to enjoy a good glass of wine. I poured him a glass, and he loved it at the first sip, especially because of the sweet taste. [...]
[...] A Facebook page, twitter, or some kind of viral marketing doesn't seem appropriate for this product. A more formal and traditional visual communication is more likely to reach our target, our target being a man, between 25 and 50, having a comfortable situation. Younger looks for cheaper products, older is already used to its favorite drinks. III- Communication elements Our communication would be supported by the two following visuals: Those two ads are brand oriented since they advertise the brand mostly with a bottle on it, in order to make the bottle easily recognizable by the consumer. [...]
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