Jim beam

Topics: Alcoholic beverage, Marketing, Alcoholism Pages: 41 (9270 words) Published: August 31, 2014
MARK101: MARKETING PRINCIPLES
WRITTEN REPORT

Brand: Jim Beam
Product: Jim Beam White

Part A: Tarah Scott – 4675769

Part B: Peter Vainauskas – 4278124

Part C: Jade Loughnan - 4266638

Part D: Natalie al-Burqan – 4672094

Part E: Completed by all members of the team
Executive Summary
In order to know which factors affect the performance and decision-making of Jim Beam, the macro environment factors/elements in the organisation’s immediate area were examined. The macro environment consists of broader forces that affect the actors in the micro environment. There are six main forces in the company's macro environment, including: demographic, economic, natural, technological, political and cultural. Bottom of FormThis report also considered how the market segmentation variables affect Jim Beam White, by looking at the geographic, demographic, behavioural and psychographic. After both describing and explaining how the variables under these groups have affected and been used by the marketing department, the market segmentation they currently used was considered. A market segment profile was established with reference to Jim Beam’s current ‘Make History’ campaign and demonstrated how this has changed since previous marketing attempts. Furthermore, the factors that influence the consumption of alcohol - and in particular, Jim Beam White - including the social, personal and psychological factors, were examined. The most compelling evidence was that many factors are ascribable to an individual’s decision to consume alcohol, including adolescent peer pressure, social media, advertisements, gender, family, financial situations, stress and mental illness. In order for Jim Beam and other companies to market their products with an ethical approach and without encouraging problematic alcohol consumption, such factors are important to examine carefully. In the final analysis, positioning and perceptual maps were drawn up to show the difference between how a company thinks their consumers see their brand and how the consumer of the brand really sees it. The first maps were conducted using the axes of high quality against high price. In the positioning map, Jim Beam saw their brand as high quality and low price compared with their rivals, which was very precise since it was found that their consumers perceived the brand the same as Jim Beam predicted. The second maps were conducted with axes of high or low ABV and strong or mild in taste. Jim Beam saw their product as mild in taste with the average ABV percentage, while their consumers saw their brand as light on the mouth and with a good alcohol percentage. Jim Beam’s main target market have always been men around the 40 year old age, but recently they have been targeting a younger generation, especially through their latest ‘Make History’ campaign, which has used various tools, such as advertising and public relations, to communicate their positioning to this new target market. Table of Contents

Introduction
Jim Beam was born in 1770 in the Kentucky region of Virginia (Jim Beam 2014). The brand is currently at a crossroads, as Jim Beam has recognised that it has strong and loyal consumers around the male, middle-aged range, and has acknowledged an opportunity to expand and reach a younger demographic. Jim Beam implemented an innovation strategy to encourage reappraisal of the brand, with an attempt at making Jim Beam relevant to a new, younger consumer and so far delivering a total growth of 58% in North America alone (Beam Global 2014). This is one of the reasons we chose Jim Beam as our brand to examine, because we wanted to assess how and why they were targeting a new audience, and whether it had been effective so far. In this report, the main focus will be on Jim Beam White. This was the first bourbon the company ever sold, which laid the foundation for the business (Beam Suntory 2014). This is another one of the reasons we decided to choose the...

References: Beam Suntory, 2014. Awards & Accolades, viewed 15 May 2014, .
Bourbon Enthusiast, 2012. Bourbon reviews, viewed 19 May 2014,
.
Bulleit, 2013. Bulleit Bourbon, viewed 16 May 2014, .
Drinks serious seats, 2013. 10 Bourbon terms you should know, viewed 19 May 2014, .
Jack Daniels, 2014. Old No.7, viewed 16 May 2014, .
Jim Beam, 2013. Behind the bourbon by Jim Beam, online video, 1 May, Jim Beam, viewed 19 May 2014, .
Marketing Society Scotland, 2013. Driving growth through flavour innovation, viewed 15 May 2014, .
Master of malt, 2014. Nice on the rocks, viewed 15 May 2014, .
Segmentation Study Guide, 2012. Introduction to Perceptual maps, viewed 10 May 2014,
.
Segmentation Study Guide, 2012. Introduction to Positioning, viewed 10 May 2014,
.
Thornten Haywood, 2014. Drafting early concepts, viewed 10 May 2014,
.
Message Content
The advertisements use a combination of both Rational and Emotional appeals to display the message content with emotionally appeal being more evident (Yanamandram 2014)
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Types of Beam Essay
  • Essay on Beam Experiment
  • theory of beams Essay
  • Cantilever Beam Essay
  • Young's Modulus of Aluminium Beam Essay
  • Essay about Beam Deflection Experiment
  • Deflection Of Beams And Cantilevers Essay
  • The Report of Deflection of a Beam Essay

Become a StudyMode Member

Sign Up - It's Free