Premiumization Strategies in Alcoholic Drinks -- S Raju

June 7, 2011 - PRLog -- Bharatbook.com has added this latest report "Premiumization Strategies in Alcoholic Drinks: Innovating to drive value through brand and product enhancement" to their extensive collection of market research reports. Due to rising affluence and increasing levels of health consciousness, growth in alcohol consumption has slowed in Western markets in recent years, while the sales of brands perceived as ‘premium quality’ have risen.

Meanwhile in the developing world, wealthier consumers are following the same trends, whilst lower-income consumers are increasing their consumption of beer and other branded alcoholic drinks as they are increasingly able to afford them.

Consumption occasions have has also changed. In markets that traditionally have a strong on-trade focus such as the UK, people are drinking more at home than in bars, restaurants and clubs – a trend that was established by the time of the 2007-2010 global financial crisis, but that was also exacerbated by its impact on incomes.

This report will evaluate the growth and importance of premium alcoholic drinks across beer, cider, flavored alcoholic beverages (FABs), spirits and wine. It will provide insight into effective premiumization strategies and make recommendations on how premium brands can succeed in an economically challenging and competitive market.

Key findings...

Over the next 10 years, 1.2bn people in Asia- Pacific will be born into or move into the global middle class, representing the largest single expansion in consumer spending power ever recorded.

Using unique flavors and ingredients has become a focus area for differentiating products and adding perceived value, as they can enhance a drink’s positioning of authenticity, heritage, quality, or exclusivity.

Consumers increasingly want to know the story behind a brand, as part of the discovery that sets them apart from others and giving them ‘insider’ status into a perceived exclusive world.

As consumers seek out masstige products due to the challenging economic environments, manufacturers and retailers are looking beyond price to image, packaging, and marketing to deliver an affordable premium experience.

Dos Equis premium beer has grown in the US based on a positioning as ‘interesting’, meeting consumers’ self-expression needs. Heineken and Samuel Adams have struggled in the same market, as competition has eroded their uniqueness and points of difference.

Use this report to...

• Understand the underlying economic, social, and psychological consumer drivers of premiumization and how they have evolved.
• Review case studies highlighting strategies that manufacturers are using to drive consumers to their premium brands, reclaiming premium status and defending against masstige brands.
• Learn how product attributes (e.g. sensory features) and brand attributes (e.g. ego gratification) can be used to drive up the price of alcoholic drinks.
• Identify the fastest growing alcoholic drinks segments and sales channels and learn the long term impact of the recession on consumer behavior.
• Compare the opportunities for premiumization by market and assess the future challenges and opportunities for developing high-end products in the future.
• Gain insight into the intelligence on changing economic and market forces and how they are influencing premiumization strategies.

For more information kindly visit: /www.bharatbook.com/detail.asp?id=144702&rt=Premiumization-Strategies-in-Alcoholic-Drinks-Innovating-to-drive-value-through-brand-and-product-enhancement.html

Related Reports:
Innovation in Savory Snacks: Premiumization through new healthy, natural, ethical, gourmet and ethnic products
www.bharatbook.com/detail.asp?id=132647&rt=Innovation-in-Savory-Snacks-Premiumization-through-new-healthy-natural-ethical-gourmet-and-ethnic-products.html

Premiumization Strategies in Food and Drinks: Fighting product commoditization through added value product positioning www.bharatbook.com/detail.asp?id=150299&rt=Premiumization-Strategies-in-Food-and-Drinks-Fighting-product-commoditization-through-added-value-product-positioning.html

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