Marketing Mix Strategies : Brown Foreman Corporation

2589 Words Apr 13th, 2015 11 Pages
BROWN-FOREMAN CORPORATION: JACK DANIEL’S

EXISITING MARKETING MIX STRATEGIES

Aseem Bharat

MBA 651
7:15 PM
Group # 3

Existing Marketing Mix Strategies. With a large market to cover in terms of wide variety of products within the Jack Daniel’s range, Brown Foreman consistently covers all four elements of the marketing mix- Price, Product, Place and Promotion. The three most prevalent attributes of the Jack Daniel’s Brand all across these four elements are culture, tradition and quality which really help to preserve and continue with the brand voice that Jack Daniel’s has owned for a long period of time. Jack Daniel’s proven staying power of 130 years in the market is a result of these three aspects
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So these extended products’ strategy blends in perfectly coming from a brand that takes pride in not just its whiskey but also makes its own barrels for the whiskey (JackDaniels.com, 2015).
Product Life Cycle. Product Life Cycle is the course that a product takes in terms of sales during the life of the product in the market (Day, 1981). Jasper Newton “Jack” Daniels himself started the product development in 1875 with the original Old No. 7 (Tennessee Online, 2015). Since then, especially in the last three decades or so, new products have been introduced which has led to wide dissemination across the various phases of the product life cycle of the Jack Daniels range. Looking at the Jack Story backwards, for the two products in the introduction phase of product life cycle, Brown Foreman has recently invested in launching the Tennessee Fire label not too long after the Rested Tennessee Rye (Jack Daniels.com, 2015). The Ready-to-drink products and the Tennessee Honey (2008) have been there a little longer and make up the Growth stage (JackDaniels.com, 2015). These two products have shown slow but steady rise in the sales since they were initially launched (Brown-Foreman Corporation, 2014). The three mainstream and mature pillar products of the Jack Daniel’s line up are the Single Barrel (1997), the Gentleman Jack (1988) and the Old No. 7(1875)
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