individual assignment corona extra

<span class="text_page_counter">Trang 1</span><div class="page_container" data-page="1">

INDIVIDUAL ASSIGNMENT MKT101

Name: Duong Thi Yen NhiStudent ID: HS181134Class: MC1903

Lecturer: Duong Quynh Mai

</div><span class="text_page_counter">Trang 2</span><div class="page_container" data-page="2">

<b>TABLE OF CONTENT</b>

<b>I. Introduction and Problem Statement... 3</b>

<b>II. Assignment body...4</b>

</div><span class="text_page_counter">Trang 3</span><div class="page_container" data-page="3">

<b>I. Introduction and Problem Statement</b>

My name is Duong Thi Yen Nhi, currently a 2nd year student at FPT University, majoring inMultimedia Communications. Entering the first semester of the school year, I feel very luckyto be in class MC1903. I would like to express my sincere gratitude for your enthusiasticsupport. In particular, I would like to express my deep gratitude to our instructor, Ms. DuongQuynh Mai - teacher of MKT 101 for her enthusiastic lectures and sincere sharing and advicefor 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 amongAmericans. Below is an analysis of Corona's history, micro-environment, macro-environment,marketing strategy, customer segmentation, market targeting, and differentiation andpositioning.

</div><span class="text_page_counter">Trang 4</span><div class="page_container" data-page="4">

<b>II. Assignment body</b>

<b>1. History</b>

Corona 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 market.

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

The beer is produced by Grupo Modelo, the larger Mexican beer producer. Tocelebrate 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 usea transparent bottle to distinguish Corona from other beers and it has served as aniconic symbol for the product ever since.

In 1937, the brewery launched a higher quality version of its beer called CoronaExtra, and it quickly became the best-selling beer in Mexico through an aggressivemarketing campaign. By the 1980s, Corona began to become popular in various urbancenters in the United States. By the mid-1990s, Corona was by far the best-sellingimported beer in the country.

<b>2. The reason why corona become an iconic beer brand</b>

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

- Distinctive Image: Corona is known for its distinctive clear glass bottle, which hasbecome 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 abreak 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 MayoCelebrations: Corona's Mexican origin also aligns well with the celebration of Cincode Mayo in the United States. The beer often experiences a spike in sales during thisfestive period.

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

</div><span class="text_page_counter">Trang 5</span><div class="page_container" data-page="5">

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

- Impact of the COVID-19 Pandemic: While the COVID-19 pandemic affected manyindustries, beer sales experienced shifts in consumer behavior. Some reports suggestthat the pandemic led to increased at-home consumption, benefiting certain beerbrands, including Corona.

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

<b>3. Microenvironment:</b>

Corona's microenvironment includes agents proximity to the company affects itscapabilities 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 atparties or outdoor events. This brand is also aimed at people who like to explore and enjoymarine 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 thosewho want to reduce calories and alcohol when enjoying beer.

</div><span class="text_page_counter">Trang 6</span><div class="page_container" data-page="6">

social responsibility. The company uses tracking creatively

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

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

●

Publics:

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

<b>4. Macroenvironment:</b>

</div><span class="text_page_counter">Trang 7</span><div class="page_container" data-page="7">

● Demographicenvironment:

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

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

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

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

● Economicenvironment:

Economic factors: Corona beer is influenced by the economic conditions and trends of itstarget markets, such as GDP, income, inflation, exchange rates, consumer spending, anddemand. Corona beer also faces competition from other beer brands, both domestic andimported, that offer similar or alternative products. Corona beer has to adapt its pricing,distribution, and marketing strategies to different economic scenarios and consumerpreferences.

● Technologyenvironment:

Corona beer has to leverage the technological innovations and developments that can enhance itsproduction, distribution, and marketing processes. These may include automation, digitalization,e-commerce, social media, big data, artificial intelligence, and blockchain. Corona beer has to investin 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 technologicaldisruptions 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 culturalelements to enhance its brand identity. Beer's association with Mexican beach culture and recreationalactivities contributes to its distinct cultural appeal. Corona beer benefits from positive associationswith Mexico, including images of beaches, vibrant colors and a laid-back lifestyle. These culturalelements contribute to the uniqueness and appeal of the brand.

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

</div><span class="text_page_counter">Trang 8</span><div class="page_container" data-page="8">

● 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 theproduction 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 rawmaterials, such as barley and hops, used to produce beer. Solid and responsible sourcing practices areessential to minimize environmental impact. Grupo Modelo is able to consider environmentallyfriendly agricultural practices and ensure the well-being of the ecosystem where these ingredients aregrown.

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

- Energy consumption: The beer production and production process as well as movement contribute toenergy consumption. Developing energy-saving technologies and practices, and researching limiteduse of renewable energy sources or energy recovery systems, can help reduce the environmentalimpact associated with consumption. absorb energy.

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

● Political:

The political environment refers to the influence of government policies, regulations, and politicalstability 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 saleof alcoholic beverages is important. Grupo Modelo needs to comply with various regulations,including licensing, labeling, advertising and health and safety standards. These regulations may varybetween different countries and regions.

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

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

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

</div><span class="text_page_counter">Trang 9</span><div class="page_container" data-page="9">

<b>5. Marketing strategy</b>

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 withconsumers and evoke positive associations with the brand. They emphasize the beer's fresh and lighttaste, 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 acomfortable and enjoyable experience, aligning their brand with holiday feeling and socializing.- Digital Marketing: Use digital channels such as social media, influencer partnerships, and onlineadvertising to effectively reach and engage your target audience.

- Sponsorships and Events: Partner with events, festivals and sports sponsorships to increase brandvisibility and engagement.

</div><span class="text_page_counter">Trang 10</span><div class="page_container" data-page="10">

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

- Immediate target by address:

Warm Climate and Beach Destinations: Corona Beer's next run typically goes to warm climate areasand beach destinations. The brand's connection to beach culture and outdoor recreation will beespecially appealing in these locations. Although originally associated with Mexico, Corona Beer hasachieved 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. Thebrand's image includes beach scenes and relaxation, suitable for individuals looking for moments ofrecovery and socialization With an active crowd: The beer is positioned for consumers who enjoysocializing 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 mediacampaigns, engaging content and influencer partnerships are common elements in a brand'sgo-forward strategy.

- Global marketing with local relevance:

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

Corona Beer's pure market strategy focuses on a lifestyle-oriented approach, aiming to connecthigh-priced consumers with moments of relaxation, socialization and outdoor enjoyment. The brandhas successfully created a distinct image that transcends borders and resonates with a diverse yetspecific target.

<b>8. Dierentiation and Positioning:</b>

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 choiceassociated with relaxation, celebration, and enjoyment.

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

- Environmental Consciousness: Incorporating eco-friendly packaging and sustainable practicesto appeal to environmentally conscious consumers.

</div>