TEXT OF STORY
SCOTT JAGOW: It seems Foster’s is no longer “Australian for beer.” Shipments of Fosters have fallen 30 percent since 2000, so its parent company is trying a new marketing strategy. Here’s Steve Tripoli.
STEVE TRIPOLI: The Foster’s folks are dumping TV advertising in favor of a big effort online.
Industry analyst Tom Pirko of BevMark Consulting says there’s good reason for the switch.
TOM PIRKO:“You can do lots of things there that you can’t do by using standard television advertising. We’re moving onto a new medium that really works better.”
Pirko says Foster’s parent company is working through an identity crisis. It recently sold its entire Asian beer subsidiary, and a new business model built around wine and spirits may be emerging.
But there’s another reason Foster’s lost market share.
Australia was hot a decade ago. The star of “Crocodile Dundee” was telling Americans he’d ‘throw another shrimp on the barbie’ for them.
But those days are gone. And some of the fascination with all things Australian went with them.
I’m Steve Tripoli for Marketplace.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?