Budweiser is one of the world's most recognizable brands and is considered a staple of American spirit and holidays past times. However, the King of Beers has recently experienced a steady and drastic decline in market share, and needs to address many issues in order to stem the decline. Simply stated, Budweiser needs to find innovative ways to include the newest members of the beer market-millennials. Current and past social media campaigns have seen mild successes, but Budweiser is still a long way from returning to its glory days atop the beer throne. Our analysis and recommendations below describe focus points, examples, and key areas where Budweiser needs to innovate. .
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Company Background.
Budweiser is an iconic beer that has enjoyed a long, rich history of tradition and success, particularly in the US market. The pale lager, introduced by the company Anheuser-Busch InBev in 1876 grew to become one of the highest selling beers in the United States. Anheuser-Busch dominated the US beer market for over a century, and today is still one of the top 3 beer companies in the United States. Currently, the top 3 beer companies in the US (as measured by barrels shipped) are Anheuser-Busch, Miller Coors, and Pabst Brewing Company. Today, many would consider Budweiser to have very strong brand equity due to the strength of its marketing. Budweiser is a "triumph of marketing over quality" proclaimed Edward McClelland of Salon.com. In fact, as of 2012, Budweiser was among the top 25 US advertisers, spending a whopping $449 million. Its dominance is buttressed by strong alliances with traditionally American experiences in the form of partnerships with MLB, Nascar, and the NFL. The beer itself is known as a staple throughout American history and culture, and was widely regarded as the beer of choice in bars, sports arenas, and convenience stores nationwide, selling 50 million barrels a year at its peak in 1998.