Presentation on theme: "Recommendation #1 for Granville Island Brewing. Using the diversity in culture as an advantage and expand the market to maximize profits."— Presentation transcript:
Recommendation #1 for Granville Island Brewing
Using the diversity in culture as an advantage and expand the market to maximize profits.
Rationale Vancouver is a multicultural city that has a great number of immigrants Granville Island Brewing is mostly known to local people Relied on the preference of local people heavily Other brewers are also targeting the same segment of the customer base Work ahead of competitors and maximize the profit by breaking into the new market of immigrants
Implementation Implementations needed to be seriously planned Extensive research on the preference taste, market potential, population and the target customer The research could include survey, blind tasting, focus group market plan and strategies that could increase the responsiveness of the new market. Brand awareness Monitor and evaluating the effectiveness of the marketing plan and strategies
Cost Possibilities for cost on developing new taste Cost could be mainly on marketing the products Estimated spending of $20000~ 30000 Canadian on promotion and sponsorship every month
Timeline and Evaluation Take up to one to two years on finding the preference taste Needs to be carefully planned and implemented Long period of time for implementing is expected Monitor the business by the responses of the new market Positive responses on taste and promotions could be the key for further success Evaluation could be determined by the annual financial report Focus on the long term profitability to evaluate the success of this recommendation.