bacardi brand analysis

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Individual Brand Analysis Srinivas Rao March 30, 2009

BACARDI SWOT ANALYSISStrengthsStrong brand recognition Multiple Product Lines Distribution Channels

OpportunitiesNon-alcoholic Bacardi Branded Beverages Bacardi Branded Food Items

Weaknesses Heavily driven by consumer preference Difcult to predict tastes/ preferences Only associated with Rum

ThreatsIntense competition Limited Brand Loyalty Strict Advertising Regulations

AGENDA

SWOT DEMOGRAPHICS PSYCOGRAPHICS/CHARACTER PROFILES MODELS FOR MOLDING ATTITUDE Q&A

DEMOGRAPHICS

Skews towards a younger demographic Age Groups 21-24, 25-34 represent largest target demographic Consumption is highest among people who make over 75k annually African American, Whites, and Hispanics have the largest consumption of rum on a percentage basisSource: Mintel Reports, Premium Alcohol Consumption

PSYCOGRAPHICS

Active Lifestyles Most classify themselves as casual social drinkers Generally tend to stick to one type of drink/have a preferred drink of choice Have strong preference for certain distilled spirits Will try new drinks promoted by a sponsor or recommended by a friendSource: Mintel Reports, Premium Alcohol Consumption

CHARACTER PROFILES

Jane Doe Age Group: 21-24 Character Traits: Recent College graduate, hoping to get a promotion at her job, considered attractive by most men. Doesnt have trouble getting into any night club Lifestyle: active, goes out 3-4 nights a week, youll likely nd her at a night club with 4 friends on most weekends. Alcohol Consumption Habits: Drinks daily, but sticks to Bacardi Breezers during the week, but will be drinking a mojito on the weekend. If her friends suggest a new drink shell give it a try

John Smith Age Group: 25-34 Character Traits: graduated from college 3-4 years ago. Was the president of his fraternity in and acquired a taste for Bacardi there. Works in nance and is considering returning to get an MBA Lifestyle: active, goes out every weekend. Likely to be with one friend and sometimes will get bottle service Alcohol Consumption Habits: Drinks daily and tends to drink on the heavier side. Youre likely to nd him drinking Bacardi 151 because he prefers a stronger drink, wants to hook up with Jane

THREE COMPONENT MODEL FOR ATTITUDE MOLDINGThink Do CognitiveBACARDI/DIET COKE

Do Feel Think

AffectiveBACARDI TV COMMERCIALS

Think Feel

Do

ConativeBACARDI EVENTS

Feel

COGNITIVE MOLDING EXAMPLE

AFFECTIVE MOLDING EXAMPLE

CONATIVE MOLDING

Level of Involvement: Advertising Effectiveness

Bacardi Consumers have a relatively low level of involvement with its products (mainly a leisure product) Peripheral route is most effective in reaching the consumer ELM: Elaboration Likelihood Method Low levels of elaboration about the product make peripheral route the most effective mechanism to reach the target audience

QUESTIONS?