The Business of Spirits
Martin Riley - Formerly Chief Marketing Officer at Pernod Ricard and past master of the Worshipful Company of Distillers
In this presentation, Martin runs through the different spirits categories and provides examples of brand segmentation and brand architecture. He highlights the importance of creating a unique imagery to try to satisfy the individual needs of the five billion potential adult consumers of spirits worldwide.
There is a kind of alchemy that goes on in the way that spirit products are transformed to command high prices in the markets, partly through rarity, age or status. The process of producing a particular spirit is the same all over the world. It requires the same few simple ingredients, but to be successfully commercialised, this product needs to be placed in a particular segment of the market. This can be achieved by understanding the geographies, cultures, trends, market evolution, customers’ needs, occasions and prices to attract their audience and create a unique brand around the product.
Martin also provides in this engaging presentation a checklist of criteria for segmenting categories and explains how brands like Johnnie Walker and Absolut Vodka found their place in the market.