Pernod ricard marketing plan
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This presentation is in regards to Pernod Ricard, one of the worlds largest distillery companies, and their refocus to target millennials with social media marketing.
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Pernod ricard marketing plan
- 1. Pernod Ricard MKT3100.001 Professor Corbin Daniel Park, Angela Chang, Irving Segovia, Phillip Teng, Laura Terry
- 2. Synopsis of the Article “Pernod Ricard’s YouTube Moment” ● Pernod Ricard suffered from low sales over the years ● The distiller hopes to boost sales by targeting Millennials ● Uses of social media ● “The Venture” campaign
- 3. “The Venture” Campaign ● Focusing on the interest of adults in their 20’s in startups and social media. ● Soliciting submissions from entrepreneurs who run businesses that strive to fix the world’s problems. ● Five U.S. finalists will be judged in July; the winner will receive $50,000. ● Want to enable a new breed of entrepreneurs to realize their potential and gain exposure for their business, with 1 million in funding. ● Promoted on YouTube videos featuring Oscar Isaac, the star of A Most Violent Year, and other actors pacing in a boxing ring celebrating businesses that “win the right way.” ● More than 17 million people have viewed the YouTube videos worldwide.
- 4. Youtube
- 5. Instagram
- 7. Marketing Plan Pernod plans to spend at least a quarter of its marketing budget on digital to lure millennials to its brands. “You can’t share a drink with a computer. Even if you meet online, you still have to meet in person to have a relationship.”
- 8. Implications ● By switching their target demographics from an older generation of Baby Boomers to Millennials, Pernod Ricard aims to boost sales overall by appealing to the Millennial’s interest in sharing information ● Sales for the first quarter of 2014/15 totalled $2.2 million. Pernod Ricard posted organic growth of +2%, ● Continued growth in the Americas (+3%)
- 9. Works Cited Hymowitz, C. (2015, March 12). Pernod Ricard Turns to Social Media for Sales Boost. Retrieved April 14, 2015, from http://www.bloomberg.com/news/articles/2015-03-12/pernod-ricard-turns-to-social-media-for-sales-boost First Quarter Sales 2014/15 : Return to growth in Q1 despite a difficult environment | Pernod Ricard. (n.d.). Retrieved April 14, 2015, from http://pernod-ricard.com/12402/press/news-press-releases/press-releases/first-quarter-sales-2014-15-return-to- growth-in-q1-despite-a-difficult-environment
- 10. Cheers!