Internal analysis
Strengths
Mike’s hard lemonade is a brand that brings the beverages to a new level. The company is one of the leaders on the market and it’s reaching out to their core consumers, looking for ways for improvement of the brand.
- The industry developments constantly new products to keep up with the changing tasted of the consumers. Each season the brand releases one new beverage flavor for a limited time season.
- Nice and eye-catching packaging. This allows men to feel more masculine when buying mike’s refreshing adult beverages.
- The relaunched category to also target men. The industry was viewed as being too feminine, so the launch of mike’s hard lemonade revived the fruity beverage industry.
- The industry contributions to the breast cancer research foundation. This is done with sales of the pink lemonade. The marketing tactic shows a corporate responsibility, which is important for any business and especially for a liquor company.
Weaknesses
Although the brand is very successful, there are still a few weaknesses that could use some improvement, mainly the marketing and distribution of the company.
- The industry’s website lacks information. The only information on the website is a brief description about the products that are being sold. It should include more information about the company and its history and allow more interaction with consumers.
- The marketing is invisible. On television or in public there are rarely any product advertisements.
- The beverages are still viewed as being girly. This could be due the stereotypes that are lingered on fruity soft drinks.
- Not successfully reaching the target consumers, because most purchases are from women instead of men. The brand can make use of new marketing techniques for example making more use of advertisements.
External analysis
Opportunities
Mike’s has many opportunities to further grow the brand. Especially with new strategies to distribute and brand extension. The internet is a great factor to take into consideration, because this will lead to marketing opportunities for the brand.
- Mike’s can become more international. The products are currently only sold in the northern part of America. A few countries have already shown interest in the product however, they are not sold there yet.
- Creating more seasonal beverages to increase sales and have more consistent sales each season. This can be done by creating new flavors each season or every year round having the same seasonal flavors.
- Making more use of social media. Social media site’s such as Facebook are a perfect way to reach target consumers. It is also useful to stay informed about the consumers’ likes and dislikes towards the products.
- The brand can branch out to more retail channels, convenience stores and liquor stores.
Threats
Although Mike’s has numerous opportunities to grow, there are also a few threats that needs to be taken into consideration. Mainly the threats of new brand entering the market.
- New alcoholic brands and extensions are coming up on the market at a rapid rate. This is because of the growing interest for flavored alcohol. This can be a threat for the brand, because it can push Mike’s of its place on the market.
- Mike’s needs to keep on innovating new products to stay innovative and to keep the brand fresh and exciting. This way it can stay for a longer time on the market.
- Mike’s advertising needs to stay creative and appealing also for people above the age of 21. The brand needs to make sure that their marketing is not targeting those under the age of 21.
- Research showed a decrease in sales when a wide range of flavors are offered on the market. Especially , when retailers don’t stock enough of all the different kind of flavors.
TOWS