“The UK retail scene is a fascinating set of macro dynamics; it’s honestly like a soap opera from the Sainsbury’s, Tesco and Asda discount wars to the independent versus chain dynamic,” he says.

Introducing a brand purpose

However he is clear that his new role is a welcome challenge. Venning has been tasked with developing a brand purpose for Ballantine’s to help market it to a younger audience and propel it to success.

“We’ve grown at 5% for the last three years and the challenge I’ve been given is to now take that to the next level. With a brand that relies upon appreciating cultural relevances, it’s a fascinating challenge to take on,” he explains.

However, he is clearly cautious: “It can take a long time to get momentum but it can be lost in a very short space of time if you’re not careful.”

Brand purpose is one of marketers’ favourite terms at the moment, with brands across sectors desperate to give company’s a meaning beyond their product. Ballantine’s is no difference, with Venning seeing this as key to appealing to younger audiences.

“It’s one of the insights that we all know works for that millennial audience is that they want to buy into brands that are a force for good,” Venning explains.

Sourced through Scoop.it from: www.marketingweek.com