Alba Spirits: Market Strategies, Challenges, and Stakeholder Impacts

Focusing on Price in the Premium Spirits Market

Advantages:

The use of advanced technology and techniques can assist in high-end management.
High-end products can help establish a significant identity (e.g., bringing in high profits). This identity plays a crucial role in the high-end market.
It can lead to economies of scale.

Disadvantages:

It is susceptible to political or legal influences.
High prices can limit market reach and create price sensitivity among consumers.
Price-focused strategies may not align with building brand loyalty and long-term customer relationships.

Alba's Export Strategy

Strengths:

It helps the company share risks and avoid the impact of economic cycles on a particular country.
It provides valuable experience in exploring overseas markets through different means (third-party, suppliers).
Diversifying export markets can lead to increased sales and revenue streams.

Weaknesses:

It depends on third parties who may restrict the company.
Exchange rate fluctuations can have an impact, even if hedged.
Managing overseas operations and navigating foreign regulations can present significant challenges.

Marketing Strategies in the 'Premium' Spirits Market

Product: Focusing on a specific customer demographic can be detrimental to expanding into new markets. A broader approach may be necessary to reach wider audiences. Price: High pricing can be disadvantageous for gaining market share. Balancing premium pricing with accessibility is crucial. Promotion: High-end marketing activities, such as partnering with high-end suppliers, can further increase sales. However, it's essential to reach beyond traditional high-end channels.

Impact of 'Responsible Marketing and Promotion'

Impacts:

Responsible marketing, such as establishing a foundation, contributes to a better public image and strengthens brand reputation.
Promotion that associates drinking with social status conflicts with not promoting drinking based on social status. This requires careful messaging and brand positioning.
It discourages incorrect drinking habits and promotes responsible alcohol consumption.
It avoids advertising in certain areas and aligns with ethical marketing practices.

Ways to Achieve Alba's Values

Potential Ways:

Implementing sustainable initiatives demonstrates environmental responsibility and aligns with consumer values.
Collaborating with local communities strengthens relationships and builds trust.
Creating a positive workplace culture fosters employee well-being and attracts top talent.

These ways can help Alba achieve its values by demonstrating corporate responsibility, building positive relationships with stakeholders, and promoting employee well-being.

External Stakeholders

Stakeholders:

Investors provide capital and influence strategic decisions.
Customers drive demand and shape product development.
Employees contribute to operations and impact brand image.
Regulatory bodies enforce laws and regulations.

Impacts:

Stakeholders can influence Alba's strategy and operations in various ways, such as providing funding, shaping customer demand, affecting employee morale, and enforcing regulations.