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Russian Standard Vodka: An Analysis of the International Expansion Strategies into the UK Markets - Dissertation Example

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This research seeks to examine the reason behind Russian Standard's success in its international expansion strategy into the UK. It will seek to answer how and why Russian Standard managed to attain such a huge market share in the UK in such a short period of time. …
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Russian Standard Vodka: An Analysis of the International Expansion Strategies into the UK Markets
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Download file to see previous pages This study discusses that Russian Standard Vodka was launched in Russia in 1998. That year was the height of the Russian financial crises. After the Soviet Union collapsed in 1991, Russia went through a period of administrative chaos which affected various sections of the economy. “There were fluctuations, breakaways, a fall in the Ruble and a massive fall in quality standards”. This trend is somewhat logical because the collapse of the USSR led to the independence of various states that were part of the Soviet Empire. This came with a lot of unstructured changes and decisions. Some of the problems were connected to the inefficiencies inherited from the Commuist regime. Others were as a result of the transition from the one-party bloc of nations to a free market economy. As the crises increased, the Russian currency fell drastically and quality standards that had gone through a period of strain under Soviet rule were absolutely inadequate. Thus, one of the Russian entrepreneurs named Roustam Tarik decided to include something in his portfolio that could withstand the economic pressures. In 1998, Tariko's company, Roust Holdings decided to consolidate his hold on something that could be identified with Russia and could be produced according to high standards. “Tariko wanted to set up something that could be to Russia what Coca Cola is to America, Mercedes Benz is to Germay and Sony is to Japan”. Roust Holdings therefore settled on a Russian Vodka brand that people could identify with their country. They also sought to connect their brand to the highest standards. This led them to seek to reconnect their Vodka brand to the Russian Royal family that was ousted by the Communists in 1917 (De Vries, 2004). Thus, Russian Standard came with two important elements: national pride and high quality (Grigorian, 2002). The name 'Russian Standard' created the notion that the vodka brand was the definitive and original brand. Russian Standard came with the inherent attribute of being the pacesetter in the world of premium vodkas. Also, the equation of Russian Standard Vodka to the Czar's regime gave it an image of royalty and originality. Thus, the inherent elements of Russian Standard was based solidly on a foundation of internationalisation. Thus, from the onset, Russian Vodka was destined to be appropriate for the international markets. Russian Standard immediately became popular amongst tourists who were visiting Russia because they found it appropriate to purchase the product as a symbol of Russia from the duty free airport shops (Grigorian, 2002) Roust et al managed to promote the Russian Vodka brand overseas between 1998 and 2002 (Barton et al, 2003). Russian Vodka was quickly sold in ten European markets within a year after it was launched in Russia (Grigorian, 2002). This could be connected with the positioning of the product and its popularity as a symbol of Russia. Russian Standard later found its way onto the UK markets where it has been a successful product for all this while (Russian Standard Website, 2007). Ever since it got onto the UK markets, Russian Standard has become a major alcoholic brand that has been really appreciated by the public. In 2009, Russian Standard announced a ?1.2 million marketing campaign that was meant to recruit another 45,000 customers to enjoy the product (The Drink Report, 2009). This group of 45,000 users are meant to add up to Russian Standard's initial strength of 27% of the demand for Vodka in the UK (Grigorian, 2002). This shows that the Russian Standard expansion drive into the UK has been extremely successful. This is quite unusual for a foreign business in the UK market. The success of Russian Standard is something that must be observed. Research Objectives This ...Download file to see next pagesRead More
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