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TheGlobalBrandingofStellaArtois斯特拉·阿托伊斯啤酒的全球品牌戰(zhàn)略

TheGlobalBrandingofStellaInApril2000,PaulCooke,chiefmarketingofficerofInterbrew,theworld'sfourthlardestbrewer,contemplatedthefurtherdevelopmentoftheirpremiumproduct,StellaArtois,asthecompany'sflagshipbrand

（旗艦品牌）inkeymarketsaroundtheworld.Althoughthelong-rangeplanfor2000-2002hadbeenapproved,therestillremainedsomeimportantstrategicissuestoresolve.

InApril2000,PaulCooke,chie

Interbrewtraceditsoriginsbackto1366toabrewerycalledDenHoorn,locatedinLeuven,atownjustoutsideofBrussels.In1717,whenitwaspurchasedbyitsmasterbrewer,SebastiaanArtios,thebrewerychangeditsnametoArtois.ABriefHistoryofInterbrewexpansion(擴(kuò)張)acquisition（并購(gòu)）brandportfolio（品牌組合）aphaseofrapidgrowthThroughacquisitionexpendituresofUS$2.5billioninthepreviousfouryears,InterbrewhadtransformeditselffromasimpleBelgianbreweryintooneofthelargestbeercompaniesintheworld.bythe1999,thecompanyhadbecomeabreweronatrulyglobalscalethatnowderivedmorethan90percentofitsvolumefrommarketsoutsideBelgium.Itremainedaprivatelyheldcompany,headquarteredinBelgium,withsubsidiariesandjointventuresin23countriesacrossfourcontinents.ABriefHistoryofInterbrewex34TheInternationalMarketforBeer國(guó)際啤酒市場(chǎng)WorldMarketForBeerMatureMarketsGrowthMarketsNorthAmericaWesternEuropeAustralasiaLatinAmericaAsiaCentralEuropeEasternEuropeRussia

Inthe1190s,theworldbeermarketwasgrowingatannualrateofonetotwopercent.In1998,beerconsumptionreachedatotalof1.3billionhectolitres(hls).Therewere,however,greatregionaldifferencesinbothmarketsizeandgrowthrates.Mostindustryanalystssplittheworldmarketforbeerbetweengrowthandmaturemarkets.4TheInternationalMarketfor45TheInternationalMarketforBeer國(guó)際啤酒市場(chǎng)5TheInternationalMarketfor5topfourpiayerssoftdrinkindustrytobaccospiritsOpportunitieseconomiesofscaleinproductionadvertisingdistributionBeerInduetryStructure啤酒產(chǎn)業(yè)的結(jié)構(gòu)22%78%44%60%22%topfourpiayerssoftdrinkind6theratiooffixedversusvariablecostsofbeerproductionwasrelativelyhighlocaltastesdifferedthefactors

Bringmoreoperationsunderacommonadministration

Insomecases,beerbrandhadhundredsofyearsofheritagebehindthemandhadbecomesuchanintegralpartofeverydaylifethatconsumerswereoftenfiercelyloyaltotheirlocalbrewthemeasurestheratiooffixedversusvari7ThroughInterbrew'sacquisitionsinthe1990s,thecompanyhadexpandedrapidly.Duringthisperiodthecompany'stotalvolumeshadincreasedmorethanfourfold.Volumegrowthhadpropelledthecompanyintothenumberfourpositionamongtheworld'sbrewers.

Interbrew'sGlobalPositionINTERBREW的全球地位ThroughInterbrew'sacquisitio81.FollowingtheacquisitionofLabattin1995,Interbrew'scorporatewasdividedintotwogeographiczones:theAmericaandEurope/Asia/Africa.Interbrew'sCorporateStructureINTERBREW的公司結(jié)構(gòu)2.ThisstructurewasinplaceuntilSeptenber1999whenInterbrewshiftedtoafullyintegratedstructuretoconsolidateitsholdingsinthefaceofindustryglobalization.3.TheformerheadoftheEurope/Asia/Africadivisionassumedtheroleofchiefoperatingofficer,butsubsequentlyresignedandwasnotreplaced,leavingInterbrewwithamoreconventionalstructure,withthefiveregionalsheadsandthevariouscorporatefunctionalmanagersreportingdirectiytotheCEO.1.Followingtheacquisitionof9RecentPerformance當(dāng)前表現(xiàn)1.Thepremiumandspecialtybeermarketsweregrowingquickly.

2.

Thelarge,maturemarketsshiftitsproductmixtotakeadvangeofthistrendandthesuperiormariginsitoffered.3.Theothorcontinuingdevelopmentwasthegrowthoflightbeersegment,whichhadbecomeover40percentofthetotalsales.RecentPerformance當(dāng)前表現(xiàn)1.Thepr10operationsstrategymarketstrategybrandstrategyInterbrewCorporateStrategyINTERBREW的公司戰(zhàn)略

ThethreefacetsofInterbrew'scorporatestrategy,bands,marketsandoperations,wereconsidered”thesidesoftheInterbrewtriangle”.Eachoftheseaspectsofcorperatestrategrywasconsideredtobeequallyimportantinordertoachievethefundamentalobjectivesofincreasingshareholdervaule.

theunderlyingobjectives:whenconsolidateitspositionsinmaturemarketsandimprovemarginsthroughhighervolumesofpremiumandspecialtybrands.operationsmarketbrandInterbrew11

Interbrewhadbeguntorationalizeitssupplybaseaswell.Interbrewbelievedthatinnovvechangesresulted,savingbothpartiesconderablesumseveryyear.StrategicSourcing戰(zhàn)略資源整合operationsstrategy生產(chǎn)戰(zhàn)略CapacityUtilization生產(chǎn)能力的利用

Giventhatbrewingwasacapital-intensivebusiness,capacityutilizationhadamajorinfuenceonprofitability.Interbrewhadbegunto12

Basedonthebeliefthattheworld'sbeermarketswouldundoergofurtherconsolidation,Interbrew'smarketstrategywastobuildsignificantpositionsinmarketsthathadlong-termvolumegrowthpotential.growthmarkets成長(zhǎng)市場(chǎng)marketstrategy市場(chǎng)戰(zhàn)略maturemarkets成熟市場(chǎng)

Interbrew'sgoalsinitsmaturemarketsweretocontinuetobuildmarketshareandtoimprovemarginsthroughgreaterefficienciesinproduction,distributionandmarketing.

TheunderlyingobjectivesofInterbrew'smarketstrategyweretoincreasevolumeandtolessenitsdependenceonBelgiumandCanada,itstwotraditionalmarkets.Basedonthebelieft1314upgradeproductqualityandtoimprovethepositioninoftheacquiredlocalcorelagerbrands.identifycertainbrands,typicallyspecialtyproducts.andtodevelopthemonaregionalbasisacrossagroupofmarkets.identifyakeycorporatebrandandtodevelopitasaglobalproduct.1010432Brandstrategy

品牌戰(zhàn)略14upgradeproductqualityand14by1998theneedtoidentifyabrandfromitswideportfoliotosystematicallyuntil1997laissezfaireStellaArtois,Interbrew'smostbroadlyavailableandoldestbrand,receivedanimportantnewthrustwhenitwaslaunchedthroughlocalproductioninthreeofthecompany'ssubsidiariesinCentralEuropein1997.TheEvolutionofInterbrew'sGlobalBrandStrategyINTERBREW'S全球品牌的演進(jìn)EInterbrewbelievedthatwereseveralbasicglobaltrendsthatwouldimprovetheviabilityofthisclassofproductoverthenextcoupleofdecades.by1998theneedtoidentify15by1998theneedtoidentifyabrandfromitswideportfoliotosystematicallytheneedsofconsumersinmanymarketswereexpectedtoconverge.theinternationalizationofthebeerbusiness.allmarketswouldlikelyevolveinsuchawaythatdemandforbothpremiumandeconomy-pricedbeerswouldincrease,squeezingthemainstreambeersinthemiddle.

Interbrewhadawideportfolioofnationalbrandsthatitcouldsetontheinternationalstage.ThetwomostobviouscandidateswereLabattBlueandStellaArtois.by1998theneedtoidentify1617StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌TheotherpotentialbrandthatInterbrewcoulddeveloponaglobalscalewasStellaArtois,abrandthatcouldtraceitsrootsbackto1366.ThemodernversionofStellaArtoiswaslaunchedin1920asaChristmasbeerandhadbecomeastrongmarketleaderinitshomemarketofBelgiumthroughthe1970s.Bythe1990s,however,Stella'smarketpositionbegantosufferfromanimageasasomewhatold-fashionedbeer,andthebrandbegantoexperiencepersistentvolumedecline.Problemsinthedomesticmarket,however,appearedtobesharedbyanumberofotherprominentinternationalbrands.Infact,sevenofthetop10internationalbrandshadexperienceddecliningsalesintheirhomemarketsbetween1995and1999（seeexhibit3)17StellaArtoisasInterbrew's1718StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌18StellaArtoisasInterbrew's1819StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌StellaArtoishadachievedgreatsuccessintheUnitedkingdomthroughitslicensee,Whitbread.whereStellaArtoisbecametheleadingpremiumlagerbeer.19StellaArtoisasInterbrew's1920StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Apartfromtheunitedkingdom,thekeymarketsforStellaArtoiswereFranceandBelgium,whichtogetheraccountedforafurther31percentoftotalbrandvolume.（seeexhibit4）20StellaArtoisasInterbrew's2021StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Withthesethreemarketsaccountingfor81percentoftotalStellaArtoisvolumein1999,fewotherareasrepresentedasignificantvolumebase(seeexhibit5)21StellaArtoisasInterbrew's2122StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Forexample,Budweiser,theworld'slargestbrandbyvolume,hadtheoverwhelmingbulkofitsvolumeinitshomeU.S.market(seeexhibit6)22StellaArtoisasInterbrew's2223StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌SalesoftheHeinekenbrandontheotherhand,werewidelydistributedacrossmarketsaroundtheworld.(seeexhibit7)23StellaArtoisasInterbrew's2324StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Inthissense,Heineken'sstrategywasmuchmorecomparabletothatofInterbrew'plansforStellaArtois.OtherbrandsthatweredirectlycomparabletoStellaArtois,intermsoftotalvolumeandimportanceofthebrandtotheoverallsalesofthecompany,wereCarlsbergandFoster'swithannualsalesvolumesin1998of9.4millionhlsand7.1millionhls,respectively,whilefosterswassuccessfulinmanyinternationalmarkets,therewasaheavyfocusonsalesintheunitedkingdomandtheunitedstates.(seeexhibit8)24StellaArtoisasInterbrew's2425StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Carlsbergsalesvolumeprofilewasdifferentinthatsalesweremorewidelydistributedacrossinternationalmarkets(seeexhibit9)25StellaArtoisasInterbrew's2526Stella'sgloballaunch斯特拉的全球啟動(dòng)In1998,Interbrew'sexecutivemanagementcommitteesettledonStellaArtois,positionedasthepremiumEuropeanlager,asthecompany'sglobalflagshipbrand.In1998.anacceleratedplanwasdevisedtointroduceStellaArtoistotwokeymarketswithintheUnitedstates,utilizingbothlocalandcorporatefunding.theu.s.marketwasbelievedtobekeyforhefuturedevelopmentofthebrandsinceitwasthemostdevelopedspecialtymarketintheworld.26Stella'sgloballaunch斯特拉的全球2627Stella'sgloballaunch斯特拉的全球啟動(dòng)27Stella'sgloballaunch斯特拉的全球2728CurrentThinking當(dāng)前的思路Inearly2000theprevailingviewatInterbrewbegantoshift,convergingonadifferentlong-rangeapproachtowardsglobalbranding.Theemergingperspectiveemphasizedamorebalancedbranddevelopmentprogram,focusingonthehighestleverageopportunities.28CurrentThinking當(dāng)前的思路Inearl281thefirststepThefirstfilterthatanpotentialmarkethadtopassthroughwasitslongtermvolumepotentialforStellaArtois2thesecondstepThesecondscreenwasthepotentialtoachieveattractivemarginsafteraninitialstartingperiodofapproximatelythreeyears.3thethirdstepThethirdfilterwaswhetherornotacommittedlocalpartnerwasavailabletoprovidetherightqualityofdistributionandtoco-investinthebrand.4theforthstepThefinalscreenwasedeterminationthatsuccessinthechosenfocusmarketsshouldincreaseleverageinotherlocalandregionalmarkets.CurrentThinking當(dāng)前的思路1thefirststepThefirstfilte29GlobalBrandingCurrentThinking當(dāng)前的思路Thus,theevolvingglobalbrandingdevelopmentanrequiredcarefulplanningonacity-by-citybasis.amongthedemandsofthisnewapproachwerethatmarketingeffortsandthefundingtosupportthemwouldhavetobebothcentrallystewardedandlocallytailoredtoreflecttheuniquelocalenvironments.Acorporatemarketinggroupwas,therefore,establishedandwaschargedwiththeresponsibilitytoidentifytopprioritymarketsdevelopcorepositioningandguidelinesforlocalexecution,assemblebroadlybasedmarketingprograms(e.g.TV,printadvertising,globalsponsorships,content,etc),andallocateresourcestoachievetheacceleratedgrowthobjectivesinthesetargetedcities.GlobalBrandingCurrentThinkin30brandportfolio品牌組合licensingagreements許可證協(xié)議flagshipbrand旗艦品牌

mergers&acquisitions合并和收購(gòu)KeyWordsbrandportfolio品牌組合licensing許可3132capital-intensivebusiness

資本密集型行業(yè)marginalprofit邊際利潤(rùn)fixedcosts

固定成本jointventure

合資企業(yè)IdeaKeyWords32capital-intensive32THANKS

FORYOURATTENTIONTHANKSFORYOURATTENTIONTheGlobalBrandingofStellaArtois斯特拉·阿托伊斯啤酒的全球品牌戰(zhàn)略

TheGlobalBrandingofStellaInApril2000,PaulCooke,chiefmarketingofficerofInterbrew,theworld'sfourthlardestbrewer,contemplatedthefurtherdevelopmentoftheirpremiumproduct,StellaArtois,asthecompany'sflagshipbrand

（旗艦品牌）inkeymarketsaroundtheworld.Althoughthelong-rangeplanfor2000-2002hadbeenapproved,therestillremainedsomeimportantstrategicissuestoresolve.

InApril2000,PaulCooke,chie

Interbrewtraceditsoriginsbackto1366toabrewerycalledDenHoorn,locatedinLeuven,atownjustoutsideofBrussels.In1717,whenitwaspurchasedbyitsmasterbrewer,SebastiaanArtios,thebrewerychangeditsnametoArtois.ABriefHistoryofInterbrewexpansion(擴(kuò)張)acquisition（并購(gòu)）brandportfolio（品牌組合）aphaseofrapidgrowthThroughacquisitionexpendituresofUS$2.5billioninthepreviousfouryears,InterbrewhadtransformeditselffromasimpleBelgianbreweryintooneofthelargestbeercompaniesintheworld.bythe1999,thecompanyhadbecomeabreweronatrulyglobalscalethatnowderivedmorethan90percentofitsvolumefrommarketsoutsideBelgium.Itremainedaprivatelyheldcompany,headquarteredinBelgium,withsubsidiariesandjointventuresin23countriesacrossfourcontinents.ABriefHistoryofInterbrewex3637TheInternationalMarketforBeer國(guó)際啤酒市場(chǎng)WorldMarketForBeerMatureMarketsGrowthMarketsNorthAmericaWesternEuropeAustralasiaLatinAmericaAsiaCentralEuropeEasternEuropeRussia

Inthe1190s,theworldbeermarketwasgrowingatannualrateofonetotwopercent.In1998,beerconsumptionreachedatotalof1.3billionhectolitres(hls).Therewere,however,greatregionaldifferencesinbothmarketsizeandgrowthrates.Mostindustryanalystssplittheworldmarketforbeerbetweengrowthandmaturemarkets.4TheInternationalMarketfor3738TheInternationalMarketforBeer國(guó)際啤酒市場(chǎng)5TheInternationalMarketfor38topfourpiayerssoftdrinkindustrytobaccospiritsOpportunitieseconomiesofscaleinproductionadvertisingdistributionBeerInduetryStructure啤酒產(chǎn)業(yè)的結(jié)構(gòu)22%78%44%60%22%topfourpiayerssoftdrinkind39theratiooffixedversusvariablecostsofbeerproductionwasrelativelyhighlocaltastesdifferedthefactors

Bringmoreoperationsunderacommonadministration

Insomecases,beerbrandhadhundredsofyearsofheritagebehindthemandhadbecomesuchanintegralpartofeverydaylifethatconsumerswereoftenfiercelyloyaltotheirlocalbrewthemeasurestheratiooffixedversusvari40ThroughInterbrew'sacquisitionsinthe1990s,thecompanyhadexpandedrapidly.Duringthisperiodthecompany'stotalvolumeshadincreasedmorethanfourfold.Volumegrowthhadpropelledthecompanyintothenumberfourpositionamongtheworld'sbrewers.

Interbrew'sGlobalPositionINTERBREW的全球地位ThroughInterbrew'sacquisitio411.FollowingtheacquisitionofLabattin1995,Interbrew'scorporatewasdividedintotwogeographiczones:theAmericaandEurope/Asia/Africa.Interbrew'sCorporateStructureINTERBREW的公司結(jié)構(gòu)2.ThisstructurewasinplaceuntilSeptenber1999whenInterbrewshiftedtoafullyintegratedstructuretoconsolidateitsholdingsinthefaceofindustryglobalization.3.TheformerheadoftheEurope/Asia/Africadivisionassumedtheroleofchiefoperatingofficer,butsubsequentlyresignedandwasnotreplaced,leavingInterbrewwithamoreconventionalstructure,withthefiveregionalsheadsandthevariouscorporatefunctionalmanagersreportingdirectiytotheCEO.1.Followingtheacquisitionof42RecentPerformance當(dāng)前表現(xiàn)1.Thepremiumandspecialtybeermarketsweregrowingquickly.

2.

Thelarge,maturemarketsshiftitsproductmixtotakeadvangeofthistrendandthesuperiormariginsitoffered.3.Theothorcontinuingdevelopmentwasthegrowthoflightbeersegment,whichhadbecomeover40percentofthetotalsales.RecentPerformance當(dāng)前表現(xiàn)1.Thepr43operationsstrategymarketstrategybrandstrategyInterbrewCorporateStrategyINTERBREW的公司戰(zhàn)略

ThethreefacetsofInterbrew'scorporatestrategy,bands,marketsandoperations,wereconsidered”thesidesoftheInterbrewtriangle”.Eachoftheseaspectsofcorperatestrategrywasconsideredtobeequallyimportantinordertoachievethefundamentalobjectivesofincreasingshareholdervaule.

theunderlyingobjectives:whenconsolidateitspositionsinmaturemarketsandimprovemarginsthroughhighervolumesofpremiumandspecialtybrands.operationsmarketbrandInterbrew44

Interbrewhadbeguntorationalizeitssupplybaseaswell.Interbrewbelievedthatinnovvechangesresulted,savingbothpartiesconderablesumseveryyear.StrategicSourcing戰(zhàn)略資源整合operationsstrategy生產(chǎn)戰(zhàn)略CapacityUtilization生產(chǎn)能力的利用

Giventhatbrewingwasacapital-intensivebusiness,capacityutilizationhadamajorinfuenceonprofitability.Interbrewhadbegunto45

Basedonthebeliefthattheworld'sbeermarketswouldundoergofurtherconsolidation,Interbrew'smarketstrategywastobuildsignificantpositionsinmarketsthathadlong-termvolumegrowthpotential.growthmarkets成長(zhǎng)市場(chǎng)marketstrategy市場(chǎng)戰(zhàn)略maturemarkets成熟市場(chǎng)

Interbrew'sgoalsinitsmaturemarketsweretocontinuetobuildmarketshareandtoimprovemarginsthroughgreaterefficienciesinproduction,distributionandmarketing.

TheunderlyingobjectivesofInterbrew'smarketstrategyweretoincreasevolumeandtolessenitsdependenceonBelgiumandCanada,itstwotraditionalmarkets.Basedonthebelieft4647upgradeproductqualityandtoimprovethepositioninoftheacquiredlocalcorelagerbrands.identifycertainbrands,typicallyspecialtyproducts.andtodevelopthemonaregionalbasisacrossagroupofmarkets.identifyakeycorporatebrandandtodevelopitasaglobalproduct.1010432Brandstrategy

品牌戰(zhàn)略14upgradeproductqualityand47by1998theneedtoidentifyabrandfromitswideportfoliotosystematicallyuntil1997laissezfaireStellaArtois,Interbrew'smostbroadlyavailableandoldestbrand,receivedanimportantnewthrustwhenitwaslaunchedthroughlocalproductioninthreeofthecompany'ssubsidiariesinCentralEuropein1997.TheEvolutionofInterbrew'sGlobalBrandStrategyINTERBREW'S全球品牌的演進(jìn)EInterbrewbelievedthatwereseveralbasicglobaltrendsthatwouldimprovetheviabilityofthisclassofproductoverthenextcoupleofdecades.by1998theneedtoidentify48by1998theneedtoidentifyabrandfromitswideportfoliotosystematicallytheneedsofconsumersinmanymarketswereexpectedtoconverge.theinternationalizationofthebeerbusiness.allmarketswouldlikelyevolveinsuchawaythatdemandforbothpremiumandeconomy-pricedbeerswouldincrease,squeezingthemainstreambeersinthemiddle.

Interbrewhadawideportfolioofnationalbrandsthatitcouldsetontheinternationalstage.ThetwomostobviouscandidateswereLabattBlueandStellaArtois.by1998theneedtoidentify4950StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌TheotherpotentialbrandthatInterbrewcoulddeveloponaglobalscalewasStellaArtois,abrandthatcouldtraceitsrootsbackto1366.ThemodernversionofStellaArtoiswaslaunchedin1920asaChristmasbeerandhadbecomeastrongmarketleaderinitshomemarketofBelgiumthroughthe1970s.Bythe1990s,however,Stella'smarketpositionbegantosufferfromanimageasasomewhatold-fashionedbeer,andthebrandbegantoexperiencepersistentvolumedecline.Problemsinthedomesticmarket,however,appearedtobesharedbyanumberofotherprominentinternationalbrands.Infact,sevenofthetop10internationalbrandshadexperienceddecliningsalesintheirhomemarketsbetween1995and1999（seeexhibit3)17StellaArtoisasInterbrew's5051StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌18StellaArtoisasInterbrew's5152StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌StellaArtoishadachievedgreatsuccessintheUnitedkingdomthroughitslicensee,Whitbread.whereStellaArtoisbecametheleadingpremiumlagerbeer.19StellaArtoisasInterbrew's5253StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Apartfromtheunitedkingdom,thekeymarketsforStellaArtoiswereFranceandBelgium,whichtogetheraccountedforafurther31percentoftotalbrandvolume.（seeexhibit4）20StellaArtoisasInterbrew's5354StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Withthesethreemarketsaccountingfor81percentoftotalStellaArtoisvolumein1999,fewotherareasrepresentedasignificantvolumebase(seeexhibit5)21StellaArtoisasInterbrew's5455StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Forexample,Budweiser,theworld'slargestbrandbyvolume,hadtheoverwhelmingbulkofitsvolumeinitshomeU.S.market(seeexhibit6)22StellaArtoisasInterbrew's5556StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌SalesoftheHeinekenbrandontheotherhand,werewidelydistributedacrossmarketsaroundtheworld.(seeexhibit7)23StellaArtoisasInterbrew's5657StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Inthissense,Heineken'sstrategywasmuchmorecomparabletothatofInterbrew'plansforStellaArtois.OtherbrandsthatweredirectlycomparabletoStellaArtois,intermsoftotalvolumeandimportanceofthebrandtotheoverallsalesofthecompany,wereCarlsbergandFoster'swithannualsalesvolumesin1998of9.4millionhlsand7.1millionhls,respectively,whilefosterswassuccessfulinmanyinternationalmarkets,therewasaheavyfocusonsalesintheunitedkingdomandtheunitedstates.(seeexhibit8)24StellaArtoisasInterbrew's5758StellaArtoisasInterbrew'sInternationalFlagshipBrand斯特拉·阿托伊斯成為Interbrew的國(guó)際旗艦品牌Carlsbergsalesvolumeprofilewasdifferentinthatsalesweremorewidelydistributedacrossinternationalmarkets(seeexhibit9)25StellaArtoisasInterbrew's5859Stella'sgloballaunch斯特拉的全球啟動(dòng)In1998,Interbrew'sexecutivemanagementcommitteesettledon

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