Assuming you are the brand manager for Tooheys New, write a memo to the CEO based on this case. In your memo:
a) note one key learning you gained from reading the Toohey’s New case and
b) offer one recommendation to the CEO to adopt for Toohey’s New based on that learning
Memo to: The CEO
From: Brand Manager, Tooheys New
Date: 21st May, 2019.
RE: A REPORT ON THE TOOHEYS NEW CASE
This memo presents my reflection on the Tooheys New case and recommendations that may profit Tooheys New if implemented. The Tooheys New case is an analysis of ‘The Tooheys New Beer Economy Campaign’ that Tooheys New established intending to improve on its sales in Australia. The campaign introduced an official currency of the beer economy that provided the Australian population with the pay in beer currency aside from VISA and Master cards. With the slogan ‘For The Love of Beer,’ the beer economy has proved to be one of the most successful marketing strategies in the company’s history.
If there is one thing that I have learned from the Tooheys New case, is the significance of observing the psychological needs of the consumers when advertising your products. In this case, the ‘Tooheys New Beer Economy Campaign’ took advantage of peoples’ behavior of ‘returning a favor’ and ‘apologizing’ by introduced a beer currency that would calculate how many beers are equal to a particular favor or an apology that one made to another. For instance, fixing a mate’s car was equivalent to 6 beers or apologizing for sending an inappropriate text to a mate’s girlfriend was equal to one case of beer.
Therefore, I would recommend that our company should direct its marketing strategies towards achieving the psychological needs of individuals and communities in general. From the ‘Tooheys New Beer Economy Campaign’ I learned that it is the little things or concerns that attract consumers towards your products. Hence, to foster a much successful future for our company, we need to strategize more on meeting the community needs.