Marketing Mix of Corona Beer and 4Ps (Updated 2023)

The Marketing mix of Corona Beer analyses the 4Ps of Corona Beer, which includes the Product, Price, Place, and Promotion of Corona Beer. Corona is a renowned beer brand associated with the beverage industry. It was introduced to the consumer market in 1925, and its manufacturer is Modelo Group. People serve Corona with a wedge of lemon or lime for added flavor and tartness. Corona is a top-selling beer brand in the world market and has targeted young individuals from the upper and upper-middle-class sections of society. Some of its rival companies are as follows-

• Budweiser
• Miller
• Heineken International
• Carlsberg
• Steinlager

About Corona Beer

• Type: Beer
• Industry: Beverages
• Founded: 1925
• Founder: Grupo Modelo
• Headquarters: Mexico City, Mexico
• Area served: Worldwide
• Key people: Carlos Brito, CEO
• Number of employees: 23,000

Corona Beer Product Strategy

Corona Beer, a well-known brand in the premium beer industry, offers a diverse product mix that caters to different tastes and preferences.

The new Product Mix of Corona Beer in 2023 is as follows (Source).

1. Corona Extra: This is the brand’s flagship product, a pale lager that’s one of the top-selling beers worldwide. Corona Extra is synonymous with a relaxed, beach-side lifestyle because of its distinct flavor and customary lime wedge garnish.
2. Corona Light: Targeting health-conscious consumers, Corona Light is a lower-calorie version of Corona Extra. It offers a similar taste profile but with fewer calories and a lower alcohol content, catering to those looking for a lighter beer option.
3. Corona Premier: Introduced as an even lower-calorie and lower-carb alternative to Corona Light, Corona Premier is designed for consumers who are particularly mindful of their calorie intake but still enjoy the taste of beer.
4. Corona Familiar: A fuller-flavored lager compared to Corona Extra, Corona Familiar is often sold in more extensive, shareable bottles. It’s designed for social gatherings and is known for its authentic, rich taste.
5. Corona Hard Seltzer: Diversifying into the famous challenging seltzer market, Corona offers a range of flavored hard seltzers. These are light, fruit-flavored alcoholic beverages that cater to consumers looking for alternatives to traditional beer.
6. Seasonal and Limited-Edition Variants: Corona occasionally releases seasonal and limited-edition variants, including unique flavors or collaborations with other brands. These products are often available for a limited time and are designed to create buzz and attract new customers.
7. Corona Refresca: A line of tropical-flavored malt beverages, Corona Refresca offers a different alcoholic beverage under the Corona brand umbrella. These are fruity drinks for consumers looking for refreshing, flavored alcoholic options.
8. Non-Alcoholic Versions: Recognizing the growing market for non-alcoholic beverages, Corona has also introduced non-alcoholic versions of their beers. These products cater to consumers who enjoy the taste of beer but prefer to avoid alcohol due to personal preferences or health reasons.

Corona’s product mix reflects the brand’s efforts to diversify its offerings and target market and cater to a broad range of consumer tastes while maintaining the core identity for which the Corona Beer brand is known.

Corona Beer Place Strategy

Corona beer is manufactured by its parent company for domestic use and exported to several other countries. Its distribution facilities are limited to Mexico only, and it has seven breweries with state-of-the-art facilities. It was launched at first in the domestic market in 1925 and, within ten years, had become the top beer brand in the country. In 1976, Corona started to export in the United States with the help of Constellation Brands. In 1979, Corona Extra became a top seller in the market research of the imported beer category. In 1985, Corona started exporting its products to countries like Japan, New Zealand, and Australia.

Corona beer is readily available in nearly one hundred and seventy countries. Corona Beer has an excellent distribution policy under which it enters into an agreement with the distributors and helps with plans relating to supervising, supporting, and coordinating all deals. Products are readily available in restaurants, bars, and even convenience stores.

Corona Beer’s place strategy effectively positions it in the global market. Here’s an overview of the marketing strategy:

1. Global Distribution Network: Corona Beer is available in over 150 countries, making it one of the most internationally recognized beer brands. Its extensive distribution network includes partnerships with local and international distributors, ensuring widespread availability.
2. Strategic Presence in Key Markets: Corona Beer focuses heavily on critical markets like the United States, Canada, the United Kingdom, and Australia. Corona invests in targeted marketing and distribution strategies in these countries to strengthen its presence and appeal to local consumer preferences.
3. Retail and On-Premises Sales: Corona is readily available in various retail outlets, including supermarkets, liquor stores, and convenience stores. Additionally, Corona Beer maintains a strong presence in bars, restaurants, and clubs, enhancing its visibility and accessibility to consumers in social settings.
4. Seasonal and Event-Based Marketing: Leveraging its association with beach and vacation lifestyles, Corona often increases its visibility in coastal areas and during summer months. Corona Beer also capitalizes on events and festivals to enhance its market presence and connect with consumers during key leisure moments.
5. Online Sales and Digital Marketing: Recognizing the shift towards online shopping, Corona has adapted by enhancing its digital marketing efforts and ensuring availability on e-commerce platforms. This approach allows them to reach tech-savvy consumers and cater to the growing demand for online alcohol delivery services.

Overall, Corona Beer’s place strategy is a balanced mix of global reach, full brand exposure, local market focus, multi-channel distribution, and alignment with lifestyle and leisure moments, all contributing to its strong position in the beer market.

Corona Beer Pricing Strategy

High-quality products and a good brand presence have created a vast market for products related to Corona beer. Corona Beer has opted for a premium pricing policy for its excellent product. The price of similar products of famous brands of its competitors is reasonably low, but still, Corona Beer has managed to occupy the fourth position in the world market. Its high prices symbolize its value-added products and have helped create a strong position for the brand. This value-added pricing policy of the brand Corona has ultimately benefitted the company and has resulted in high domestic and international sales and more significant revenues.

Corona Beer’s pricing strategy is a well-crafted blend of market positioning, brand prestige, marketing strategies, and consumer targeting. Here’s an in-depth look:

1. Premium Pricing Positioning: Corona Beer is positioned as a premium brand. Its pricing is slightly higher than standard domestic beers but remains competitive within the import and premium segments. This positioning reflects its quality, brand prestige, and lifestyle, appealing to consumers willing to pay a bit more for a perceived premium experience.
2. Market-Based Pricing Variability: The pricing of Corona varies across different markets to align with local economic conditions, competition, and consumer purchasing power. In some regions, it’s priced as a high-end product; in others, mainly where it’s produced, it may be more competitively priced.
3. Dynamic Pricing in Retail and Hospitality: In the retail sector, Corona often employs active pricing strategies, adjusting prices based on seasonality, demand fluctuations, and promotional activities. In the hospitality sector, such as bars and restaurants, pricing can be premium, capitalizing on the brand’s association with leisure and social experiences.
4. Tiered Product Pricing: Corona’s different product offerings, such as Corona Extra, Corona Light, and Corona Premier, are priced differently to cater to various consumer segments. This tiered pricing strategy allows the brand to appeal to a broader audience, from budget-conscious drinkers to those seeking premium options.
5. Psychological Pricing Tactics: Corona may use psychological pricing strategies like many consumer goods, such as ending prices with .99 instead of rounding up. This subtly influences consumer perception of price and value, making the product seem more affordable.
6. Promotional Pricing Strategies: Corona uses promotional pricing strategies, especially during critical sales periods like summer or major sporting events. These can include discounts, bundle offers, or unique packaging to increase sales volume and attract new customers.

Corona Beer’s pricing strategy is designed to maintain its premium brand image while adapting to market conditions and consumer segments. Corona Beer skillfully balances its prestigious image with competitive and strategic pricing to appeal to its diverse consumer base and target audience.

Corona Beer Promotion Strategy

Corona beer brand has decided against joining the crowd. It has set up a distinguishing promotional strategy and started with inside information about the perceptions and insights of consumers. The company has projected its brand with a unique personality and a definite set of values. As a brand, Corona connects directly with its consumer base with positive cues like vacations, beaches, and hanging out with family and friends, all depicting closeness and relaxation. Corona Beer has created various simple, quiet, and scenic ads showing beauty and harmony with Corona beer, attracting more crowds.

Its apt tagline defines the Corona Beer with words like Corona and Miles, away from ordinary. Its advertising campaigns are aired on television and shown in newspapers, billboards, and magazines for Corona Beer’s visibility and awareness. Corona has entered into several sponsorship deals. It sponsors professional soccer teams in Mexico, the NASCAR Corona Series, and the LPGA Tour tournament Corona Championship.

Some Recent Video ads and Print ads of Corona beer are:

https://www.youtube.com/watch?v=zpDiFwbAaHM

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