A Brand Manager is a professional who is responsible for ensuring that their company’s products, services, and product lines resonate with current or potential customers. In addition, they monitor marketing trends as well as keep an eye on competitive companies in the marketplace so they can stay ahead of competition.
You dictate what happens to the future of this brand.
Here we pose a scenario and you will write a summary on how, as a brand manager you will approach the business in the next 12 months.
Brand: You are the brand manager for Panther Vodka based in Miami, FL.
Scenario: Tequila is quickly beomcing the go-to drink for the American consumer. So much so, Tequila has overtaken American Whiskey in value and now has its eyes set on becoming the most consumed spirit in the United States.
Here are some data points:
·
ResearchandMarket.comLinks to an external site.
anticipates that the global tequila market size will reach $14.35 billion by 2028, expanding by a CAGR of 5.4% over that period. (CAGR: Compound Annual Growth Rate)
· In previous research, CGA highlighted that Tequila continues to
dominate growth in the US On PremiseLinks to an external site.
. While Whiskey and Vodka continue to be the two dominant groups within Spirits, Tequila is the only Spirits subcategory that has achieved growth of share of over 1% – accounting for 18% of the Spirits category YTD.
· The growth of the Tequila category has been driven by increasing popularity with US consumers, with
the ubiquitous Margarita the most popular Cocktail by value velocityLinks to an external site.
across 43 of the 48 US states within the Cocktail read. While nearly 50% of Tequila drinkers prefer the spirit within a Cocktail, 42% opt for shots, and a fifth choose a “neat” pour.
It seems like Tequila has a better proposition for the consumers, since consumers are becoming more educated.
WHAT DO WE DO!?
Please write a summary (1/2 page) on Panther Vodka’s next steps. Put on your Brand Marketing hat.
Should we invest more money in e-commerce?
Should we go after tequila business by acting like a tequila?
Should we offer a more premium product?
Should we offer a line extension like a Panther Vodka flavor?
Should we invest in bars and restaurants or more in liquor store samplings?
THINK OUTSIDE THE BOX. THESE ARE JUST QUESTIONS YOU MAY OR MAY NOT USE. USE YOUR OWN IDEAS.
