Saturday, March 29, 2008

New Trendy Beverage for the Drinking Scene Intended to Reboost Cognac Popularity

Last January, a Cognac industry trade group labeled the Bureau National Interprofessionel du Cognac (BNIC), gathered together seventeen bartenders from around the world, including top cities such as New York, London, and Munich (Germany). Together in Cognac, France, these selected expert, worked at inventing a new hip drink for the bar/club scene that involved Cognac. Their mission was accomplished with the invention of the Summit. This Cognac group hopes to see the Summit enter into the popular circle of bar cocktails, aiming to hit status of the ever popular Cosmopolitan.

Reaching the status of the Cosmopolitan is a goal, but with the underlying intention of increasing the use and popularity of Cognac, at the less expensive level. Much in the way that the Cosmo helped to uplift the sales of vodka, primarily Absolut sales in the 1980s, BNIC would like to see the Summit gain skyrocketing popularity which ultimately sends Cognac sales through the roof.

Previous marketing efforts for Cognac have been successful in the realm of hip hop rappers, celebrities, and high income consumers. Two brands that have done a fantastic job with their marketing campaigns include Courvoisier and Hennessy. These two brands successfully developed a brilliant campaign strategy that appropriately reached their market segment.

Although the expensive, high-class brands appear to be doing well, it is the Cognac aimed at a younger market segment, with less discretionary income, that suffers in earning sales. This is where the new Summit drink would be most effective, with this younger market, the sort of market who love new and trendy drinks.

BNIC, as well as the rest of the target market, will know soon enough if the Summit is capable of driving Cognac sales back to the top. Similar to the way Mojitos are vital the the brand image of Bacardi Rum, it is possible that the Summit could be that drink for the more social, trendy Cognac drinker.

[Colchester, Max. "Cognac Group Takes a Shot at Hit Drink." The Wall Street
Journal 27 Mar. 2008. 29 Mar. 2008 SB120657545346067017.html?mod=mm_hs_advertising>. ]

1 comment:

Kim Gregson said...

interesting posts - 10 points - we should show the cognac one to the bling people and the chocolate liquer folks