Dec 14, 2009
When you think about North American whiskey what is the first name that comes to mind? For me it is Jack Daniel’s Tennessee Whiskey. Jack Daniel’s is one of the best selling liquors in the world and has been around since 1875. With it classic look and taste Jack Daniel’s still continues to grow in sales over the past couple of years and still provide for its long time costumers.
The product that I will be discussing throughout this paper is Jack Daniel’s whiskey which is considered a good. This good can be purchased at any local Liquor store or were ever your purchase your alcohol. In the generic market Jack Daniel’s has to compete against all other alcoholic beverages, wines, spirits, beer, etc. In this market there are many products that may satisfy the customer. It is all based on their needs and wants as to what they want to purchase when it come to alcoholic beverages. Where as in the product market Jack Daniel’s serves to people looking for just whiskey specifically, were they have to compete against other whiskey products. The target market would be to anyone who is over the legal drinking age of twenty-one, but specifically they are looking for people who like to drink and enjoy whiskey. So that they know they continue to buy their product again. It is not one of the cheapest whiskeys around so it is more focused towards adults, who can afford to buy and enjoy the whiskey. For Jack Daniel’s they have a very large market to cover. They distribute world-wide so they have to segment their market to provide for each of their customers. They probably would like to be homogenous within so that all of their costumers have the same likes and dislikes. Also substantial in that they are trying to cover the largest homogenous group, that would be profitable. When competing in their market they need to look at many demographics to help them do this. Age and income are a huge factor in deciding how...