Foster’s Beer – Marketing Plan Essay
The Foster’s Group is an Australian based beverage company, with international expansion in terms of production as well as consumption and palette of customers. Founded in 1887 in Melbourne, the company is basically focused on the production and selling of beer, but they also place emphasis on wines, spirits and non-alcoholic beverages. “Foster’s Group Limited is a global multi-beverage company, delivering a diverse portfolio of premium beer, wine, spirits, cider, and non-alcoholic beverages. The company employs more than 11,000 people worldwide and produces the world’s most famous Australian beer: Foster’s Lager.
Foster’s supplies more than 38,000 customers–ranging from wholesalers and importers to restaurants–in the Asia-Pacific region; owns an extensive California wine portfolio; and sells six million cases of beer in the Americas annually. ” (Oracle 2007) Foster encompasses more than forty types of beer and addresses customers all across Australia and other countries throughout the globe. The most renowned Foster brands include Bohemian Pilzner, Carlton (black, dry, cold or draught), Cascade, Corona, Crown Lager, Foster Lager or Stella Artois.
“Foster’s leading beer ranges are enjoyed by drinkers throughout the world. Led by Foster’s Lager, one of only a handful of truly global beer brands, our portfolio includes Australian and international icons like
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Foster’s beer consumers are similar to other beer companies’ consumers in the meaning that they share similar characteristics. In this order of ideas, Foster beer consumers are represented by both male and female, but preponderantly male. The consumers come from all social backgrounds and register all levels of income. A study conducted by Mediamark Research Inc. in 2006 retrieved the following results regarding the profile of the beer consumer: – Most beer consumers are whites, with an estimated 75 percent of the entire American population, followed by Hispanics with approximately 13 percent, and African American with 9 percent
– Men make up almost 60 percent while women barely make up 40 percent – Most beer drinkers are unemployed (about 25 percent); about 18 percent work in sales and about 17 percent are professionals; 12 percent work as managers or business and finance specialists – Almost 60 percent of beer consumers are married – Most beer consumers register incomes of more than $75,000 (about 38 percent), followed by the population with incomes between $50,000 and $74,999 (about 22 percent) – The majority of beer drinkers are college (29 percent) or high school graduates (28 percent), followed by the population who has not graduated from high school
– The largest consumer palette is aged between 35 and 44 (an estimated of 25 percent), followed closely by the population aged between 25 and 34 (about 23 percent). The population older than 65 consumes the lowest levels of beer – Beer consumers make habits out of (in the order of importance): dining out, visiting or having friends over, barbequing, reading, going to clubs and bars or playing cards – They listen to sports events on the radio or watch them on television on frequent basis – The sports they practice basically include walking, swimming, fishing, golf or bowling
– Foster’s beers occupy the third position in American preferences with Corona Extra – About 97 percent of beer drinkers have stated to have consumed and continue to consume any kind of beer – The average amount of beer consumed throughout a months’ time period totals up to 34 glasses per individual (Mediamark Research Inc 2006). An analysis of the present customer behavior would focus on numerous issues, such as the type of purchase decision, attitudes about product or loyalty to the brand.
In this order of ideas, the purchase decision of a Foster’s beer is given by the quality of the drink, the brand’s reputation and the consumers’ recognition of the brand, previous consumption and reaction to the beverage and several product features, including price. Consumers’ attitudes in regard to Foster beers are most favorable for the corporation as they recognize the true value and high quality of the beverages. A specification must be made in regard to this issues and it revolves around Australians’ reticence to one of Foster’s brands of beer, namely Foster’s Lager.
However it encounters difficulties onto the Australian market, the Foster Lager registered great success in America, Europe and Asia and it has been successfully replaced with other Foster brands onto the national market, therefore generating no negative outcome. The benefits of the Foster beer are implied by the product and guaranteed by the company. As such, the Foster brands of beer offer the consumer the chance of savoring a high quality product while enjoying a multitude of social events.
A most common issue with beer producers revolves around increasing customers’ loyalty to the firm, moreover when most of them declare to feel no difference between beer types and brands and tend to change them instead of remaining loyal to a particular brand. Customers switch to other Foster brands, but also to the brands of other producers. To avoid loosing customers due to this, Foster’s must educate their customers. “A consumer who understands that differences exist between beers is a profitable commodity in short-supply.
In short, an educated customer is a good customer” (Crouch 2002). Currently, Foster’s sells their beers in more than 155 countries across the globe. The most fruitful regions for selling beers in 2007 were represented by Australia, Asia and the Pacific region. The beers also register increased success in the countries of Europe and America. Future prospects include an in-depth territorial expansion into the same regions, meaning that the Foster beer will become present onto new markets and countries in Europe, America and Asia.