Retailconsolidation
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Retail consolidation is being driven by apparel declining in importance to consumers and lifestyle driving apparel decisions. Brands have loyalty while labels only get attention, and generic labels are vulnerable to extinction. Small and mid-sized apparel manufacturers face challenges from large firms and reliance on retailers. The consumer is changing and demanding better fashion at cheaper prices, polarizing the retail landscape.
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Beverage Trends The Strategic MindsetI dont set trends..docx
Beverage Trends:
The Strategic Mindset
“I don't set trends. I just find out what they are and exploit them” - Dick Clark
Significance of Content
Learners should strive to identify emerging trends in the marketplace through gaining an understanding of the numerous external forces that impact their business.
In their efforts to recognize Mainstream (broad-based) and cutting-edge, niche (localized trends) markets, learners recognize how they can proactively sculpt a competitive advantage through harnessing a company’s core capabilities.
These efforts help companies to capture market opportunities, spur innovation, and allow for better problem solving and decision-making.
1
Learning Objectives
Upon completion of reading this chapter, the learner will be able to:
Recognize the significance of trends as a part of a successful strategic approach
Define the distinction between trends versus fads
Reiterate at least 3 beverage trends presented in class that connect with the students personal experience
Significance of Content
Learners strive to identify emerging trends in the marketplace through gaining an understanding of the numerous external forces that impact their business. In their efforts to recognize broad-based and localized trends, learners recognize how they can proactively sculpt a competitive advantage through harnessing a company’s core capabilities. These efforts help companies to capture market opportunities, spur innovation, and allow for better problem solving and decision-making.
2
The Origins
Consumption of alcohol began unintentionally around 10,000 years ago (approximately 8000 bce)
Originated from the storage of overripe and decaying fruits, honey and grains
Intentional production of beer and wine to the first civilization that arose around 8,000 years ago (approximately 6000 bce)
Mesopotamia and Egypt (largely corresponding to modern day Iraq)
The origin of distilled spirits is far more recent, and is traced to Middle East or China at about 700 CE
Ultimately, the creation of an apparatus known as a still was used to extract and concentrate the alcohol
3
Significant Beverages
Alcoholic based beverages (also referred to as “drinks”) are relatively distinguishable from one another, as they each look, smell, and taste quite different
Wine
Beer
Spirits and Liqueurs
Sake
Cider
Coffee
Tea
Heightened Opportunities
Elevated role of the beverage person (bartender, brewer, sommelier, barista) in the Hospitality Industry
Now many customers are at least as interested in the beverage professional as they had been the chef
The chef has always been the centerpiece—the one who comes out and speaks with the customers about the dish at the table, now the beverage person is as interesting.
What cooking network had done for the chef, the movie Somm is doing for Sommeliers
5
Necessary Foundation
Associate/Bachelors Degree
Certifications
Sanitation
BASSET
Wine/Beer
Experience
Positions
Owner/Operator
General Mana ...
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1) Marketing involves all activities involved in moving a product from producer to consumer.
2) Markets are groups of potential buyers with needs and purchasing power.
3) The product life cycle describes how products are introduced, grow in popularity, reach maturity, and eventually decline as newer products replace them.
4) The marketing mix (the 4 P's of product, price, place, promotion) must be tailored for each stage of the product life cycle.
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