individual assignment corona extra

HistoryCorona is a truly iconic beer brand, especially known for its association withrelaxation, beach culture and a laid-back lifestyle, which has contributed to its successin the US ma

INDIVIDUAL ASSIGNMENT

MKT101

Name: Duong Thi Yen Nhi

Student ID: HS181134

Class: MC1903

Lecturer: Duong Quynh Mai

TABLE OF CONTENT

I Introduction and Problem Statement 3

II Assignment body 4

1 History 4

2 The reason why corona become an iconic beer brand 4

3 Microenvironment: 5

4 Macroenvironment: 7

5 Marketing strategy 9

6 Customer classication: 9

7 Market Targeting: 10

8 Dierentiation and Positioning: 10

III CONCLUSION 11

IV REFERENCE 11

I Introduction and Problem Statement

My name is Duong Thi Yen Nhi, currently a 2nd year student at FPT University, majoring in Multimedia Communications Entering the first semester of the school year, I feel very lucky

to be in class MC1903 I would like to express my sincere gratitude for your enthusiastic support In particular, I would like to express my deep gratitude to our instructor, Ms Duong Quynh Mai - teacher of MKT 101 for her enthusiastic lectures and sincere sharing and advice for me Thank you for being great mentors and for your great contributions to our education Today, my assignment will be to mention the Corona beer brand - an iconic beer brand among Americans Below is an analysis of Corona's history, micro-environment, macro-environment, marketing strategy, customer segmentation, market targeting, and differentiation and positioning

II Assignment body

1 History

Corona is a truly iconic beer brand, especially known for its association with relaxation, beach culture and a laid-back lifestyle, which has contributed to its success

in the US market

This beer is known to be enjoyed with salt sprinkled around the bottle and a piece of lemon Corona is one of the brands that Americans prefer even though it is imported from abroad The history behind beer dates back nearly a century

The beer is produced by Grupo Modelo, the larger Mexican beer producer To celebrate the brewery's 10th anniversary, Grupo Modelo created Corona in 1925 About a year after the beer was introduced to the public, the company decided to use

a transparent bottle to distinguish Corona from other beers and it has served as an iconic symbol for the product ever since

In 1937, the brewery launched a higher quality version of its beer called Corona Extra, and it quickly became the best-selling beer in Mexico through an aggressive marketing campaign By the 1980s, Corona began to become popular in various urban centers in the United States By the mid-1990s, Corona was by far the best-selling imported beer in the country

2 The reason why corona become an iconic beer brand

- Global Popularity: Corona Extra, a pale lager, is one of the top-selling beers worldwide Since1998, it has consistently been the top-selling imported drink in the U.S

- Distinctive Image: Corona is known for its distinctive clear glass bottle, which has become an iconic symbol The bottle is often served with a wedge of lime or lemon, enhancing the drinking experience and contributing to its recognizable image

- Marketing and Advertising: Corona's marketing campaigns emphasized escapism, relaxation, and the beach lifestyle, resonating with American consumers seeking a break from their daily routines Word-of-Mouth and Cultural Associations: Over time, Corona became associated with vacations, parties, and outdoor leisure activities, fostering positive word-of-mouth and cultural relevance Cinco de Mayo Celebrations: Corona's Mexican origin also aligns well with the celebration of Cinco

de Mayo in the United States The beer often experiences a spike in sales during this festive period

- Product Placement: Strategic product placement in movies, television shows, and advertisements further enhanced the brand's visibility and appeal

imported beers in the United States Its success can be attributed to its ability to resonate with a broad consumer base

- Impact of the COVID-19 Pandemic: While the COVID-19 pandemic affected many industries, beer sales experienced shifts in consumer behavior Some reports suggest that the pandemic led to increased at-home consumption, benefiting certain beer brands, including Corona

In summary, Corona beer has become an iconic brand in the United States, known for its distinctive image, marketing campaigns, and association with a carefree, beach-oriented lifestyle Its consistent quality and popularity contribute to its enduring success in the American market

3 Microenvironment:

Corona's microenvironment includes agents proximity to the company affects its capabilities to serve customers, companies, suppliers, marketing intermediaries, customer market, competitors and general public

● Customers:

Corona Extra's main customer segment includes people who like to enjoy beer,especially at parties or outdoor events This brand is also aimed at people who like to explore and enjoy marine life

The brand also targets many customer hierarchies

Premium segment: Corona Extra - This is the official and most popular version of Corona This is a light and easy-to-drink beer, suitable for enjoying on many different occasions Mid-range segment: Corona Light - This is a light version of Corona Extra, suitable for those who want to reduce calories and alcohol when enjoying beer

● Thecompany:

- Have the advantage of top management from AB InBev - one of the world's largest corporations in the field of beverage and beer production

- Commitment of Grupo Modelo - the parent company, which depends on suppliers of raw materials such as barley, hops and packaging materials Quality and innovation are vital in maintaining Corona's reputation as a premium beer brand

social responsibility The company uses tracking creatively

strategy to speed up economic realization and increase sales volume In addition, the company also focuses on attracting and retaining talent, training and developing employee skills

● Supplier:

Corona beer relies on suppliers of raw materials, such as barley malt, corn, hops, yeast, and water, as well as packaging materials, such as glass bottles, labels, and caps

Corona beer maintains good relationships with its suppliers and ensures that they meet its standards of quality and sustainability

Effective distribution networks ensure Corona is widely available in bars, restaurants, convenience stores, and supermarkets across the US

● MarketingIntermediaries:

Corona beer is sold through many different retail channels, including supermarkets, liquor stores, convenience stores and online retailers and bars to reach consumers

● Competitors:

Corona faces competition from both domestic and international beer brands: Budweiser, Coors, Miller, Heineken and Modelo Requires constant efforts to differentiate and maintain market share

But Corona Beer is different because it has been around for a long time, its image, quality and heritage

● Publics:

Corona beer interacts with various publics, such as media, government, community, and environmental groups that influence its reputation and image Corona beer communicates with these publics to inform, persuade, and educate them about its products, values, and initiatives Corona beer also responds to any issues or challenges that may arise from these publics, such as the pandemic, regulations, or social responsibility

4 Macroenvironment:

● Demographicenvironment:

- By age: Corona Beer can appeal to many ages, focusing on consumers of legal drinking age Its marketing, with images of beach scenes and a laid-back lifestyle, may appeal to a younger demographic (21-35 years old)

- By gender: While most other competing beers target young people, Corona always focuses on targeting older groups; a group of mature and mature men and women who are well educated and classy This beer is aimed at both men and women and in fact, research shows that this beer is popular with women

- Income level: Corona beer is positioned as a high-end imported beer Its consumers may have relatively higher incomes, as imported beer often costs more

- Location: Based on the location of distribution locations but mainly large cities or tourist areas with many young people

● Economicenvironment:

Economic factors: Corona beer is influenced by the economic conditions and trends of its

target markets, such as GDP, income, inflation, exchange rates, consumer spending, and

demand Corona beer also faces competition from other beer brands, both domestic and

imported, that offer similar or alternative products Corona beer has to adapt its pricing,

distribution, and marketing strategies to different economic scenarios and consumer

preferences

● Technologyenvironment:

Corona beer has to leverage the technological innovations and developments that can enhance its production, distribution, and marketing processes These may include automation, digitalization, e-commerce, social media, big data, artificial intelligence, and blockchain Corona beer has to invest

in research and development, and adopt new technologies that can improve its efficiency, quality, sustainability, and customer satisfaction Corona beer also has to cope with the technological disruptions and challenges that can threaten its competitive advantage and market share

● Culturalenvironment:

- Mexican cultural heritage: Grupo Modelo, as a Mexican brewery, often draws on Mexican cultural elements to enhance its brand identity Beer's association with Mexican beach culture and recreational activities contributes to its distinct cultural appeal Corona beer benefits from positive associations with Mexico, including images of beaches, vibrant colors and a laid-back lifestyle These cultural elements contribute to the uniqueness and appeal of the brand

- Lifestyle: Corona beer is often marketed as a complimentary beverage for outdoor and beach activities The brand's advertisements often feature beach scenes, outdoor settings, and a relaxed atmosphere The cultural connection between Corona and the outdoor beach lifestyle influences

● Naturalenvironment:

Natural environment refers to the surroundings and conditions in which a company operates, including aspects such as climate, geography, ecology, and other natural factors Although the production and distribution of Corona Beer does not have a direct impact on the natural environment, making the industries more resource-intensive processes, there are still relevant considerations:

- Raw material supply sources: The natural environment is directly related to the work of sourcing raw materials, such as barley and hops, used to produce beer Solid and responsible sourcing practices are essential to minimize environmental impact Grupo Modelo is able to consider environmentally friendly agricultural practices and ensure the well-being of the ecosystem where these ingredients are grown

- Water: Brewing products require a significant amount of water The natural environment, including local water sources and water availability, plays a role in the beer brewing process Adopting water conservation measures and solid water sourcing practices is critical to minimizing the environmental impact associated with water use

- Energy consumption: The beer production and production process as well as movement contribute to energy consumption Developing energy-saving technologies and practices, and researching limited use of renewable energy sources or energy recovery systems, can help reduce the environmental impact associated with consumption absorb energy

- Packaging materials: Types of packaging materials, designs such as glass bottles, cans or cardboard packaging, can impact the environment Grupo Modelo can consider these types of sustainable packaging options, innovative architectural attitudes and reduce the overall environmental impact that may be associated with the product produced and eliminate packaging materials

● Political:

The political environment refers to the influence of government policies, regulations, and political stability on a company's operations and business For Corona Beer produced by Grupo Modelo, several political factors may affect the company's business operations:

- Compliance with local and international regulations related to the production, distribution and sale

of alcoholic beverages is important Grupo Modelo needs to comply with various regulations, including licensing, labeling, advertising and health and safety standards These regulations may vary between different countries and regions

- Taxes: Governments often impose taxes and tariffs on alcoholic beverages, affecting the prices and profits of products such as Corona Beer Fluctuations in taxes and alcohol taxes could affect Corona Beer's pricing strategy and its ability to compete in the market

- Trade Agreements: International trade and tariff agreements may impact the import and export of alcoholic beverages, affecting Grupo Modelo's global distribution operations Changes in trade agreements or tariffs could affect the costs of importing and exporting Corona Beer, potentially affecting market access and competitiveness

- Advertising and marketing restrictions: Governments may impose restrictions on the advertising and marketing of alcoholic beverages to protect public health and prevent misleading promotions Grupo Modelo needs to navigate and comply with advertising regulations to promote Corona Beer

5 Marketing strategy

Corona's marketing strategy revolves around the following key elements:

- Brand positioning: Position yourself as a high-end, aspirational brand associated with relaxation, entertainment and social interaction

holiday feeling and socializing

- Emotional branding: Leverage emotional appeal and storytelling to create strong connections with consumers and evoke positive associations with the brand They emphasize the beer's fresh and light taste, often boasting that it is delicious Enjoy in a beach setting with a squeeze of lemon or lime Their marketing efforts are focused on creating one connection with consumers looking for a comfortable and enjoyable experience, aligning their brand with holiday feeling and socializing

- Digital Marketing: Use digital channels such as social media, influencer partnerships, and online advertising to effectively reach and engage your target audience

- Sponsorships and Events: Partner with events, festivals and sports sponsorships to increase brand visibility and engagement

6 Customerclassification:

Corona segments customers based on a variety of factors, including demographics, psychographics, and behavioral characteristics Key customer segments may include:

+ Youth: Target millennials and younger consumers who value experiences, socialization and authenticity

+ Outdoor enthusiasts: Attracts individuals who enjoy outdoor activities such as beach outings, camping and barbecues

+ Well-off consumers: Position yourself as a high-end brand to attract consumers with higher disposable income and favor quality products

7 Market Targeting:

Here are some key aspects of Corona Beer's market targeting:

- Target by demographics:

group is often associated with social work, outdoor activities and a more relaxed lifestyle Although Corona Beer is positioned as a high-end imported product, it still attracts users with different import devices

- Immediate target by address:

Warm Climate and Beach Destinations: Corona Beer's next run typically goes to warm climate areas and beach destinations The brand's connection to beach culture and outdoor recreation will be especially appealing in these locations Although originally associated with Mexico, Corona Beer has achieved global recognition and is enjoyed in many countries with diverse climates

- Immediate focus:

Lifestyle preferences: Corona beer pearls to consumers who snorkel comfortably and carefree The brand's image includes beach scenes and relaxation, suitable for individuals looking for moments of recovery and socialization With an active crowd: The beer is positioned for consumers who enjoy socializing storage, gatherings with friends and outdoor events

- Social and digital media right on target:

Corona beer uses social and digital media platforms to reach a tech-savvy audience Social media campaigns, engaging content and influencer partnerships are common elements in a brand's go-forward strategy

- Global marketing with local relevance:

While maintaining Mexican production, Corona Beer adapts its marketing strategies to resonate with diverse cultures across the globe A brand's operating system is not limited to one underlying cultural tool

Corona Beer's pure market strategy focuses on a lifestyle-oriented approach, aiming to connect high-priced consumers with moments of relaxation, socialization and outdoor enjoyment The brand has successfully created a distinct image that transcends borders and resonates with a diverse yet specific target

8 Dierentiation and Positioning:

Corona differentiates itself through several unique selling propositions, including:

- Authenticity: Emphasizing its Mexican heritage and traditional brewing methods to differentiate itself from domestic competitors

- Lifestyle Branding: Positioning itself as more than just a beer brand but as a lifestyle choice associated with relaxation, celebration, and enjoyment

- Product Experience: Highlighting the refreshing taste and smoothness of its beer, often served with a lime wedge for added flavor and presentation

- Environmental Consciousness: Incorporating eco-friendly packaging and sustainable practices

to appeal to environmentally conscious consumers