- Published: November 14, 2021
- Updated: November 14, 2021
- University / College: Manchester Metropolitan University (MMU)
- Level: Intermediate School
- Language: English
- Downloads: 45
Your full full April 15, Jack Daniels Beer The Potential Market The target market for Jack Daniels Beer includes every person who likes to drink beer of high quality. Generally, the upper class urban individuals constitute the target market for the brand. Presently, this brand is the one of the highest selling brands all over. This shows that the potential market for this brand of Sour Mash Tennessee whisky includes all geographical regions of the world.
SWOT Analysis
Strengths
The main strengths of Jack Daniels Beer are its global presence, huge customer acceptability level, high brand recognition, and ever-increasing customer demand.
Weaknesses
The main weaknesses of the brand include higher price as compared to competitors and unaffordable for lower income people.
Opportunities
Some of the main opportunities for the brand include increased market share due to inclusion of more beverages and products, increased customer satisfaction level by making the products affordable for them, and business expansion through abiding by the fair trade policy (Daniels 1).
Threats
Some of the main threats for the brand include entry of more competitors, increasing competitors’ market share, and customers switching to other products because of higher brand prices.
Growth Rate
Jack Daniels Beer is enjoying a good growth rate because of its ever-increasing customer acceptability level. It is a subsidiary of Brown-Forman Company, which started its business in 1875. The brand is enjoying a good amount of market share because of its demand all over the world. The brand has owned a stable position in the market even in presence of strong competitors, such as, Johnnie Walker and Black & White.
Company Resources to be used
The company uses a well-planned marketing strategy and strategic plans as the resources to promote its products in different parts of the world. Some other key resources include people, latest information technologies, and efficient production plants.
Concept testing of the New Product
To concept test the new product, the company should introduce the product in local markets. The company should use highly targeted and customized approach to test the acceptability ratio of the new product.
Works Cited
Daniels, Jack. ” JACK DANIELS.” Mbaskool. com. 04 Feb. 2008. Web. 15 Apr. 2013.
