Business Model and Marketing Plan for a Craft Brewery in the Growing Industry
This paper analyzes a potential marketing plan and business model for a micro brewery, named New World Brewing Company to be opened in Petoskey, Michigan in the future. New World will be a new microbrewery that will have an extremist nature in the ingredients, brewing techniques, and styles of beer created. New World has the mission statement of creating a unique experience for all of its customers through the unique beers it brews and the educational element that New World will provide to its customers. Education will be important in both getting consumer interested in the craft beer industry and providing them more knowledge about the products that they are purchasing. This will be done through tastings, seminars, and a knowledgeable staff. These two elements are the unique selling proposition of New World Brewing Company. This plan reviews the different marketing strategies that will be used to help promote the company, create brand awareness, and get the consumer interested in its products. New World will capitalize on social media sites to (i.e. Facebook, Twitter, Instagram, and YouTube) to help raise brand awareness while keeping a relatively low cost. This plan goes over each of the social media sites and how they will be utilized by New World in its marketing strategy along with promotional events. The marketing plan will attempt to motivate consumers to invest in the products. This paper reviews the Four P's, a Perceptual Map, SWOT Analysis and a breakeven analysis for New World Brewing Company. All of this information is important to starting New World Brewing Company and its projected growth into the future. The Perceptual map and SWOT Analysis help to give New World an understanding on its position within the craft beer industry. Additionally, this paper also analyzes trends within the craft beer industry and potential ways to capitalize on these trends. Trends like the extremist-brewing segment of the craft beer industry that New World will be a part of. New World will also employ cross merchandising by making products other than beer from hops, to help increase consumer interest in its products.