Jim beam
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
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
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)