Preferred learners
- Anywhere
- Academic experience
Categories
Project scope
- What is the main goal for this project?
-
Introduction
The global rum industry represents a dynamic and evolving market with diverse consumer preferences and competitive landscapes. For Bira! Rum, understanding this industry's nuances and identifying strategic export markets is crucial for expanding its global footprint. This project requires a comprehensive approach for researching the global rum industry, providing insights, and recommending export market options for Bira! Rum.
Objectives
- Industry Analysis: To conduct a thorough analysis of the global rum industry, focusing on market trends, consumer preferences, and competitive landscape.
- Market Identification: To identify and evaluate potential export markets for Bira! Rum, considering factors such as market size, growth potential, regulatory environment, and cultural affinity for rum.
- Strategic Recommendations: To provide strategic recommendations for entering identified export markets, including market entry strategies, product positioning, and marketing approaches.
- What tasks will learners need to complete to achieve the project goal?
-
. Industry Analysis
- Market Trends: Examine current and emerging trends in the global rum industry, including premiumization, flavored/spiced rum popularity, and sustainability initiatives.
- Consumer Preferences: Analyze consumer preferences across different regions, focusing on taste profiles, consumption occasions, and purchasing behaviors.
- Competitive Landscape: Assess the competitive landscape, identifying key players, product offerings, and market positioning strategies.
2. Market Identification
- Market Screening: Utilize a multi-criteria approach to screen potential markets, considering economic indicators, alcohol consumption patterns, and legal frameworks.
- Market Analysis: Deep dive into shortlisted markets to understand the local rum industry, key competitors, distribution channels, and barriers to entry.
- SWOT Analysis: Conduct a SWOT analysis for Bira! Rum in each potential export market to assess strengths, weaknesses, opportunities, and threats.
3. Strategic Recommendations
- Market Entry Strategies: Recommend appropriate market entry strategies (e.g., direct export, joint ventures, licensing) for each target market.
- Product and Pricing Strategy: Develop product and pricing strategies tailored to each market, considering local consumer preferences and competitive pricing.
- Marketing and Distribution: Propose marketing and distribution strategies to build brand awareness and establish a strong distribution network.
- What is the main goal for this project?
-
Introduction
The global rum industry represents a dynamic and evolving market with diverse consumer preferences and competitive landscapes. For Bira! Rum, understanding this industry's nuances and identifying strategic export markets is crucial for expanding its global footprint. This project requires a comprehensive approach for researching the global rum industry, providing insights, and recommending export market options for Bira! Rum.
Objectives
- Industry Analysis: To conduct a thorough analysis of the global rum industry, focusing on market trends, consumer preferences, and competitive landscape.
- Market Identification: To identify and evaluate potential export markets for Bira! Rum, considering factors such as market size, growth potential, regulatory environment, and cultural affinity for rum.
- Strategic Recommendations: To provide strategic recommendations for entering identified export markets, including market entry strategies, product positioning, and marketing approaches.
- What tasks will learners need to complete to achieve the project goal?
-
. Industry Analysis
- Market Trends: Examine current and emerging trends in the global rum industry, including premiumization, flavored/spiced rum popularity, and sustainability initiatives.
- Consumer Preferences: Analyze consumer preferences across different regions, focusing on taste profiles, consumption occasions, and purchasing behaviors.
- Competitive Landscape: Assess the competitive landscape, identifying key players, product offerings, and market positioning strategies.
2. Market Identification
- Market Screening: Utilize a multi-criteria approach to screen potential markets, considering economic indicators, alcohol consumption patterns, and legal frameworks.
- Market Analysis: Deep dive into shortlisted markets to understand the local rum industry, key competitors, distribution channels, and barriers to entry.
- SWOT Analysis: Conduct a SWOT analysis for Bira! Rum in each potential export market to assess strengths, weaknesses, opportunities, and threats.
3. Strategic Recommendations
- Market Entry Strategies: Recommend appropriate market entry strategies (e.g., direct export, joint ventures, licensing) for each target market.
- Product and Pricing Strategy: Develop product and pricing strategies tailored to each market, considering local consumer preferences and competitive pricing.
- Marketing and Distribution: Propose marketing and distribution strategies to build brand awareness and establish a strong distribution network.
- How will you support learners in completing the project?
-
We provide time to meet and discuss, share industry knowledge. We don't have access to data other than what is currently publicly available.
- What skills or technologies will help learners to complete the project?
-
- Secondary Research: Collect data from industry reports, market studies, and reputable databases to understand the global rum market landscape.
- Primary Research: Conduct surveys, interviews, and focus groups with industry experts, consumers, and distributors in target markets to gather insights.
- Analysis Tools: Use SWOT analysis, PESTEL analysis, and Porter's Five Forces to analyze market conditions and strategic positioning.
Supported causes
About the company
- https://birarum.com
- 2 - 10 employees
- Food & beverage
Based in Vancouver and established in 2017, 77 Spirits Inc. is the first black owned independent bottler of sugar cane spirits in Canada. We currently source craft rums from around the world and bottle them with local partners and distribute them across Canada. There is no one else in Canada with the same business model.
With each expression we produce approximately 1000 bottles of rum, as such they are limited release and no longer available once the batch is sold out. Our flagship brand is BIRA! Under this brand we have three different sugar cane spirit expressions on the market with a fourth one scheduled to be bottled at the end of the year.