Brown Forman Case Study
The product innovation strategy is a key success factor because product differentiation is a prerequisite to be competitive in any industry.. The marketing strategy is complementary to the product innovation strategy. In order for a new product to penetrate the market and become popular branding and constant marketing innovation are of utmost importance. A very important key factor that has to be taken into consideration is the distribution network. Based on the company ‘s annual report, Brown-Forman only has one strategic distribution partnership, Bacardi. The company constantly seeks to create partnerships in order to expand its opportunities to distribute their products. The finance strategy relies in growing profits. The human resource strategy is driven by ensuring the health, safety and wellness of Brown-Forman members in order to get the most out of their workforce and thus maximize the value provided to the company. Lastly, the corporate responsibility strategy resides in their involvement in campaigns and promotion of responsible consumer enjoyment of Brown-Forman brands, reducing alcohol abuse and misuse, protecting the environment, providing a healthy, safe and inclusive workplace and contributing to the global communities they operate in.
TOWS Strategy: SO Strategies: | WO Strategies: | Availability of successful flavor innovations in emerging markets to gain market share | Expand production facilities (in Russia, Germany) and other countries targeted in BF 150 Strategy | Backward integrate with wooden casks/grains producers for better coordination | Careful strategy expansion of JD to avoid damaging the brand (Icarus Paradox) | ST Strategies: | WT Strategies | Bundle samples of other brands on whiskey bottles to promote other brands internationally | Futures for inputs