Both a gap in the market and a government tax incentive in 2002, known as the progressive beer duty, have led to the emergence of many craft breweries around the UK. It is important for these companies to stay true to their roots as they grow, so as not to lose their consumer appeal.
Resisting the temptation to sell their ownership to major conglomerates is one way craft brewers can maintain their individuality.
Using attention-grabbing PR and turning negative events into good publicity can help many start-ups in the beer segment show that they both have a sense of humor and are anti-establishment, which could appeal to the modern beer drinker who is weary of the more traditional offerings.
Small companies such as micro-breweries can hope to achieve strong revenues by involving their consumers in initiatives such as crowd funding, which can help the growth of a company and keep it from needing to accept corporate ownership.
Using controversial marketing and crowd funding can enable a small company to build both brand awareness and a loyal fan base of consumers.
As craft brewers begin to be bought by large conglomerates, staying true to individual principles can help maintain independence and prevent a company from selling out in the eyes of the consumer.
Reduce the risk of failure by learning from brands/products that have underperformed: failed innovation can severely impact profit and reputation.
Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
Access valuable strategic take-outs to help direct future decision-making and inform new product development.