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Competitive Analysis of Local and International Competition for whiskey Products

Competitive Analysis of Local and International Competition for whiskey Products

When studying the Taiwan whiskey market, it is important to keenly look at the brand that is topping the list in the market. It is a known fact that Taiwan is the largest market probably in the world when it comes to the consumption of whiskey globally. However, sales of the brands are quite diverse. In fact, many brands fail to do well in the market while others flourish with great returns. One of the distillers that have penetrated the larger Taiwan whiskey market is Ole Smoky. The Ole Smoky Distillery is a whiskey production company that manufactures its products from natural ingredients that have carried away many in the market. The whiskey has gained lots of praise from whiskey consumers. The drink is manufactured from corn, which is distilled six times to produce the most pleasant taste to the tongue. The whiskey, Moonshine White Lighting is made from fruity blends of Apple pie, blackberry, grapes among others. The production and sales of these brands of whiskey are not conducted in the blends that are modernly used and adapts to the market today. Instead, the manufacturers package the products in natural guards that depict the purity of their production, thereby making the whiskey more pleasant to consumers. The company sources its raw materials locally, hence enhancing the trust of the people in the brand.

Taiwan has a booming whiskey market. According to statistics, it is reported that 93% of the total mega whiskey valued at about $342 million is in Taiwan. It can apparently occur that the number of whiskey-producing industries in the country are not restricted enough to regulate the market. This allows other potential international companies to also penetrate the market in order to satisfy the overwhelming demand of whisky in Taiwan. This is a fact that is also ascertained by the National Agency of Taiwan. The body even goes further to recommend that it would be advisable if investors were invited to start up industries in the country so as to fill in the gap in the Taiwan whiskey market. The country is the world’s largest whiskey market. The Scotch Whiskey Association points out that, ‘’the market and the consumption of whiskey is becoming broader. They emphasize on the need to produce more whisky in order to meet the demands of consumers. For instance, the scotch has shifted the attention from Britain to Taiwan. Taiwan’s market is doing significantly well, as revealed by this direct indicator. The payments for the whiskey are always quite good. This in return gives the producers an assurance that they will always get better returns for their products. Despite the rapidly increasing demand for whiskey in Taiwan, there is need for a new business venture to tactfully get into the market and win the trust of consumers. It is apparent to the world and the rest of the whiskey producers are free to focus onto this lucrative market. However, penetrating into the market requires proper strategy.

The production of whiskey in Taiwan has been doing fine. The products are manufactured and packaged to match all the classes of consumers. According to Mr. Lee, a holder of doctorate degree in whisky production notes that it one conducts a survey of all the whiskey-producing countries, he or she would find out that Taiwan is the market that the entire world is focusing on as the most ideal target. The company that came up with the whiskey brand known as Kavan earned great benefits, and also saw the merits of putting up a whiskey-producing factory in Taiwan. They noticed that the country has the best temperature for whiskey production. They also found out that the warmer climate in Taiwan is good for faster maturity of whiskey compared to other countries like Britain and Scotland. This also means that for any company that is planning to start producing whiskey in Scotland, human capital investment would be very important since in cooler temperatures, containing the production is much easier as the evaporation rate of whiskey would be slightly lower. The study also reveals that due to the increased production of whiskey, making more money is easier as a result of the readily available market. This stipulates that a lot of emphasis have to be placed on the processes of production. Besides, it should also be noted that whenever there is a fault in the brand, its entire market would be adversely impacted and consumer may tend to shy away from buying the products.

Taiwan’s whiskey market is quite unique in its own way. In fact, it has shocked many companies that have tried to introduce their brands in it. Even though some are fairing on in this market, many fail and are baffled why their brands are not selling unlike others’. The country’s locals love whisky will juicy ingredients obtained from blended fruits. In fact, it is this juicy effect in the whisky that accords them the pleasure of the drink. Just like the ingredients used by Ole Smoky Original Moonshine, extracted from natural fruits and corn that are grown locally. This inspires a natural feel that makes everyone to want to be associated with the whiskey. It is produced from natural products that are chemical-free, which form the largest percentage of the whiskey brands in the market.

Kavan whisky, another brand that has also received good reception in the market, brings in whisky that is manufactured from carbon, which is carbonated whisk soda. The packaging of the brand is done in aluminum cans with a target of the young people who are going out. The whiskey also contained the highest alcohol content ever been produced in the market. However, the company that produces this brand also manufactures other kinds of whisky to cover this promising market. Despite this, they have not been able to beat Ole Smoky in the Taiwan market.  In fact, Ole Smoky has managed to successfully enhance its popularity without regards to the pressure mounted by its competitors. Pricing is Ole Smoky’s strength that is not an element in the penetration and success in the market. This is because there are several companies that have brought in lower prices than those of Ole Smoky but still not been able to drive Ole Smoky out of the market. There are some brands that present themselves as very special by the achievements that they have made in the international market even though Ole Smoky Distillers still has the lead in this market. It also stands that the natural taste of Ole Smoky Distillers is another strength that keeps them highly placed in the market. Considering that whisky consumers in Taiwan have identified themselves with the fine fruit-blended whisky that is produced by this company, their loyalty remains tied to this brand since it has never shifted.

There are several whine distillers across the world that are causing ripples in the market. The Japanese whiskey is the largest producer of whiskey in the world. In Japan, there are quite a number of distilling companies that have made significant impact in the market. They command the largest market share in the world. However, their common whiskey is malt whiskey. The companies are just unique on their own and do not trade with other competitors across the globe. The malt that they use in the production of their whiskey is manufactured by the same company that also distills their whiskey. Japanese companies capitalize in the production of a variety of whiskey blends to give them a unique edge in the market. However, in the Taiwan market, the Japanese whiskey may not do quite well since their products lack the fruity ingredients like those loved by Taiwan whiskey consumers. This means that, Japanese whiskey is not a threat in the Taiwan market. On the international scale, Japanese whiskey, however, poses a great threat and is worth looking out for.

Irish whiskey is secondly placed. The whiskey is reputed to be among the oldest whiskey brands in the market. This Image 2reputation has accorded them a cut above other distillers. In fact, they are more trusted than other producers. Irish whiskey is manufactured in various blends, some of which are made from a mixture of barley and grains. The whisky is naturally produced from the pot, blended and packaged in containers. Because of the natural flavor that this product has, it is the Irish favorite. This whiskey blend is compared to the Ole Smoky Tennessee Moonshine, which also has natural tastes from fruit blends. In case the Irish whiskey gets entry into the Taiwan market, there are chances that they would pose some threat since they offer one of the products that are desired by Taiwan whiskey consumers. Contrary to the traditions of whiskey and spirits that are distilled more than three times, the Irish whiskey is only distilled two times to deliver the purest form of whiskey. This clearly brings out the fruity and juicy taste of the whiskey. On the international market, this whiskey brand has gained considerable popularity and is preferred by many. This element of including spicy fruit and its smooth texture enables it to gain immense acceptance in the Taiwan market.

In order to acquire an equal market share, and even outdo the Irish whiskey, a company has to carefully look into implementing marketing strategies that shall include the production of the most preferred whisky blends in the market. Another brand that has also made significant impact in the international market is Bourbon, which is quite a unique product in the US. The roots of the brand can be traced back to Irish whisky and has been celebrated in the market for a long time. The Bourbon blends are also known in the global market as those manufactured from natural corn and fermented traditionally.

For a company to gain smooth entry into the Taiwan market, it has to first evaluate the whisky products that are available in the market. Based on the Analysis on Ole Smoky Distillers, it is undoubted that their whisky is much celebrated in Taiwan and is produced from fruity raw materials. The conditions under which the whisky blends are produced also reflect the originality and culture of the Taiwan people. A company can be successful by adopting their production. It is also important to consider the quality the products and prices. For any whisky product that is eyeing the Taiwan market, the prices should be set with the financial abilities of the social class that is targeted in mind. From the view of Ole Smoky’s marketing and pricing strategy in comparison with other whisky companies in the Taiwan market, it is clear that price is not an important factor in winning the market. It is ideal to come up with good prices while also producing better quality products that shall surpass the standards that have been set by Ole Smoky.

Since the whisky company has plans of venturing into the market, it needs to adopt adequate promotional strategies. Customer has to be well informed about the product that is making its entry into the market. The way in which information about a brand is relayed in the market determines its reception. It is advisable to master the most attractive methods of advertisement in the market while also looking into whether the method used in the promo will at some point come to an end, or help in the promotion of the products in order to boost the sales of the brand. The company should also be able to narrow down to the place where the target customers are available. This is important since it is quite easy to take good products to the wrong place, thereby resulting into losses.

Packaging is also an important factor that has to be put into consideration when planning to enter into a new market. The first impression that the people shall have on the brand shall significantly impact its future in the market. Ole Smoky Tennessee Moonshine controls the Taiwan market, thus a new company has to make a positive impression that can enable it beat Ole Smoky. Besides, the company also has to find ways of placing itself strategically in the minds and hearts of whisky consumers in Taiwan. This is achieved through putting great value in customer service and how they relate to the products. Ole Smoky Tennessee Moonshine is well placed in the minds and heart of many customers, thereby enabling the brand to perform well in the market. A new whisky company has to also offer the best blends than those of Ole Smoky in order to have an impact in the market.

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