Marketing Mix: Absolut Vodka in the U.S.A.
INTRODUCTION
The aim of this essay is to critically analyze the marketing mix of a selected company that operates in a specific country, which in this case is Absolut Vodka in the United States of America. Absolut Vodka is a Swedish brand of vodka, produced in the southern part of Sweden. Building on a four century tradition of producing vodka, Absolut was created in 1877 and was introduced as its current name in 1879 by the entrepreneur Lars Olsson Smith. The leading brands of alcoholic spirits throughout the world are Bacardi and Smirnoff, placing Absolut is the third position and is marketed in about 126 countries. More than 40%, of the imported vodka in the United States is Absolut. "Absolut Vodka is one of the world's best selling premium spirits brands and achieved sales of 10.7 million nine-litre case in 2007 (96.6 million litres). Approximately 600,000 bottles of Absolut Vodka are produced every day. Every bottle of Absolut Vodka is produced in Ahus, in southern Sweden" (www.absolut.com). Absolut Vodka has a huge variety of flavours in order to satisfy every customer's tastes and preferences.
THE MARKETING MIX OF ABSOLUT VODKA
The marketing mix "involves using the various tools and techniques available to managers in order to implement the marketing concept" (McDonald, 2002). It is of great importance that the products of the company correspond to the customers' wants, this process is referred to as product management. Marketing is essential due to the increasingly aggressive and compound environment in which companies operate. The most common objectives that companies set are usually maximization of revenue and profits and return on costs and investments.
PRODUCT
"A product or service is a problem-solver, in the sense that it provides what the customer needs or wants" (McDonald, 2002). The product consists of two basic factors, a functional performance and a bundle of features and benefits. Each company should be up to date with the customers needs
The aim of this essay is to critically analyze the marketing mix of a selected company that operates in a specific country, which in this case is Absolut Vodka in the United States of America. Absolut Vodka is a Swedish brand of vodka, produced in the southern part of Sweden. Building on a four century tradition of producing vodka, Absolut was created in 1877 and was introduced as its current name in 1879 by the entrepreneur Lars Olsson Smith. The leading brands of alcoholic spirits throughout the world are Bacardi and Smirnoff, placing Absolut is the third position and is marketed in about 126 countries. More than 40%, of the imported vodka in the United States is Absolut. "Absolut Vodka is one of the world's best selling premium spirits brands and achieved sales of 10.7 million nine-litre case in 2007 (96.6 million litres). Approximately 600,000 bottles of Absolut Vodka are produced every day. Every bottle of Absolut Vodka is produced in Ahus, in southern Sweden" (www.absolut.com). Absolut Vodka has a huge variety of flavours in order to satisfy every customer's tastes and preferences.
THE MARKETING MIX OF ABSOLUT VODKA
The marketing mix "involves using the various tools and techniques available to managers in order to implement the marketing concept" (McDonald, 2002). It is of great importance that the products of the company correspond to the customers' wants, this process is referred to as product management. Marketing is essential due to the increasingly aggressive and compound environment in which companies operate. The most common objectives that companies set are usually maximization of revenue and profits and return on costs and investments.
PRODUCT
"A product or service is a problem-solver, in the sense that it provides what the customer needs or wants" (McDonald, 2002). The product consists of two basic factors, a functional performance and a bundle of features and benefits. Each company should be up to date with the customers needs