Identifying and exploiting an under-served market is Start-up Strategy 101. Why compete in a crowded space when you can stake a claim of your own?
That logic often gets flipped on its head when it comes to craft beer, however. Other brewers have already paved the way in more established markets, which also tend to have achieved critical mass and beer-savvy consumers who embrace new experiences. And while it’s easier to stand out in under-served areas with less competition, it’s also more difficult to attract and educate consumers and create demand. Ideally, potential new markets include promising elements from both ends of the spectrum. Here are several strategies to help identity those opportunities.
Do the Research but Trust Your Gut
Fieldwork Brewing Co., headquartered in Berkeley, California, operates a series of taprooms along the California coast. While Berkeley’s craft-beer scene is no slouch, Fieldwork’s other outposts aren’t exactly located at the nexus of California’s craft-beer culture.