Beverage brands and WKD
Alcohol has long been one of the most popular chemicals used by human beings to enhance their moods, and it has been one of the most widespread throughout history. Ironically, it is a tranquilizer, appetizer, disinfectant, anesthetic, food, solvent, and economic commodity, as well as a potent symbol all in various ways in different cultures. Alcohol has long been established in the UK as a whole. The importance of alcohol in the UK is emphasized by the fact that approximately 750,000 people are engaged in its production, distribution, and sale. In spite of the widespread use and general but not total acceptance of alcohol, the UK may be grouped with those mainly Protestant cultures in which there is considerable ambivalence about drinking (Heath 1995). Alcohol drinks has an important function in UK and its people. The success of the alcohol product in the UK paved the way for the creation of the company Beverage Brands. This company was founded by Joe Woods; it offers premium soft and alcoholic drinks. Beverage Brands currently ranks as the third high ranking company in terms of being the premium package spirit market in the UK. One product that the company wants to launch in the new market is WKD brand. This product is available in Original Alcoholic Iron Brew and Original Vodka Blue flavor. This product has been known as an innovative brand for young people. Beverage Brands wants to launch WKD in a newer country. This paper will discuss which country is recommendable for Beverage Brand to export the WKD product. The country recommended is Hong Kong. This paper will take a look at the country’s culture, policy, market position and brand image.
Hong Kong
Hong Kong remains wrapped in an enigma. Its intermediaries of capital, who include traders, financiers, and corporate managers, have made Hong Kong the pivot of decision-making about the exchange of capital within Asia and between that region and the rest of the world (Meyer 2000). Hong Kong has survived the challenge of the 1997 Handover from British to Mainland Chinese control and the economic reversal caused by the unrelated events of the Asian financial downturn and the September 11 disaster. Although the latter has had more impact on the lives of everyday people, the Handover was a cause for a certain amount of nervousness about the future with concerns raised about change to civil, administrative and economic freedoms. The tourism market appeal of Hong Kong as a brand changed after the Handover, causing some disappointment among economic forecasters and tourism authorities. A number of aggressive new marketing strategies have been adopted, which present an artificial summary of its cultural identity, race relations and attitudes to colonialism (Hall & Tucker 2004). Hong Kong is one of the two special administrative regions belonging to China. Hong Kong over the years has developed into a leading financial theater through the economic changes it made in the region. Hong Kong has considerable rates in terms of Total volume and revenue of Flavored Alcoholic Beverages (FAB) Sales and Per Capita volume and revenue of FAB sales. Hong Kong has a considerable volume of consumption of FAB and its related products thus Beverage Brands can acquire acceptable sales and revenue in this region.
Hong Kong culture
Hong Kong’s culture has the combination of eastern and western culture. The region makes use of some of its earlier philosophies and combines it with western ideas. The western culture paved the way for Hong Kong business people to put up bars and night spots where people can have drinking sessions. Adults also have the right to purchase alcoholic drinks. The culture of Hong Kong will not serve as a hindrance on the people buying WKD products.
Policy
Hong Kong has no strict policy on the use of Alcohol but only those 18 above are allowed to drink alcohol. Due to the combination of cultures, the region has only age restrictions on the use of Alcohol and its related products.
Market Position
There was a recent drop in sales of alcoholic drinks in Hong Kong; this is due to the drop of beer sales. Beer sales affect the industry as a whole because of it having a high share. The reduction of taxes will help alcoholic drinks sell well. Beverage Brand should not worry about the sales in that region because of low taxes and prices of alcoholic beverages people will be enticed to try and be loyal to their prices.
Brand Image
At first Beverage Brand and WKD will have problems in selling the product due to the company not being much known in the area but through proper advertisements, pricing and the use of needed strategies the company can acquire the desired client and client segments.
References
Hall M & Tucker, H (eds.) 2004, Tourism and post
Colonialism: contested discourses, identities and
representations, Routledge, New York.
Heath, DB 1995, International handbook on alcohol and
culture, Greenwood Press, Westport, CT.
Meyer, DR 2000, Hong Kong as a Global Metropolis, Cambridge
University Press, Cambridge, England
Credit:ivythesis.typepad.com
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