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Marketing 100 Andrei Catrinici Term paper Prof. J.Goldstein

I - Intro on company History of the company
II - Environmental Analysis 1 - Economic forces 2 - Political & Legal forces 3 - Demand a)Total size of market b)Market share c)Characteristics of demand 1-When 2-where 3-how often costumers buy 4 - Competitive forces 5 - Technological forces 6 - Social/Cultural forces
III - SWOT Analysis A. Strengths and Weaknesses B. Opportunities and Threats
IV - Marketing objectives
V - Marketing strategies A. Target markets B. Marketing Mix 1-Product 2-Pricing 3-Distribution 4-Promotion
VI - Implementation - Marketing structure Bibliography

I. Intro on company Heineken N.V. has wide international presence through a global network of distributors and breweries. It owns and manages one of the world’s leading portfolios of beer brands and is one of the world’s leading brewers in terms of sales volume and profitability. Its principal international brands are Heineken and Amstel, but the group brews and sells more than 170 international premium, regional, local and specialty beers and ciders, including Cruzcampo, Birra Moretti, Foster's, Maes, Murphy's, Newcastle Brown Ale, Ochota, Tiger, Sagres, Star, Strongbow and Zywiec. [3] Heineken has the widest presence of all international brewers, thanks to their global network of distributors and 125 breweries in more than 70 countries. The Heineken brand is positioned as a premium brand all over the world except for its domestic market, the Netherlands. History The Heineken story began more than 140 years ago in 1864 when Gerard Adriaan Heineken acquired a small brewery in the heart of Amsterdam. Since 1886, the unique Heineken A-yeast has guaranteed the pure, premium taste of Heineken beer. After 13 years of prohibition, in 1933, Heineken set foot on American soil and in 1937 the first Heineken beer was brewed outside the Netherlands, in the Dutch East Indies. Four generations of the Heineken family have been passionately involved in the expansion of the Heineken brand and the Heineken Company throughout the world. By the 21st century, the small 19th century local Amsterdam brewer has grown into a worldwide business with a global brand, employing more than 50,000 people.[1]

II. 1. Economic forces The year 2008 was one of regional contrasts for the company. In Western Europe and the Americas, the impact of the economic crisis on consumer sentiment was felt early and volumes in many markets contracted. Central and Eastern Europe continued to grow volumes, but experienced much tougher trading conditions in some big markets, such as Russia and Romania, particularly in the fourth quarter, resulting in marginal profit decline. The picture in our Africa and the Middle East and Asia Pacific markets was completely different. Heineken experienced strong growth, driven by good macro-economic and social developments and by the increasing strength and popularity of its brands. The import segment of the US beer market, one of the company’s largest markets, was affected by lower consumer confidence, high unemployment rates and lower average income per capita. Lower sales in the USA caused a 3 per cent decline of Heineken volume. The US beer market grew 0.1 percent in 2008, the result of slight growth in the first part of 2008 and a weaker trend by the end of the year, when the on-trade and convenience store channels in particular came under increasing pressure due to the economic downturn.[1] According to AC Nielsen data, the import segment declined 1.5 per cent. Total beer sales of Heineken USA were 2 per cent lower, Depletions of imported Heineken lager (-4.8 per cent) Lower volume and negative currency developments led to lower reported revenue. Reported EBIT (beia) was negatively affected by the lower US dollar hedge rate (- €45 million).[3] By any measure, 2008 was a unique year. Large-scale industry consolidation, a global slowdown in category growth, significant increase in input costs and cost pressures and above all, an unprecedented economic crisis unfolding in the second half of the year. Against this backdrop, Heineken delivered strong organic growth in net profit of 11 per cent, revenue growth of more than 27 per cent (7 per cent organic) and 16 per cent increase in Group volume (4 per cent organic). However, the exceptional economic circumstances required the company to reduce the value of goodwill in Russia, its investment in India and in its pub portfolios in the UK . These non-cash exceptional charges, together with low profit contributions of new businesses and the related financing costs resulted in a substantially lower reported net profit. Looking back over the last three years, Heineken has become more resilient, performance driven and competitive. They have achieved an average top-line growth of 16.5 per cent per year and grown the Heineken® volume in the premium segment by 3.4 million hectolitres, an average of 7.3 per cent per year. They are more efficient thanks to the successful delivery of more than €450 million of cost savings between 2006 and 2008 linked to their Fit2Fight programme. And they have a much stronger global footprint.[1]

II.2. Political-legal forces Heineken maintains a world-wide policy of compliance with laws and regulations. Heineken respects local cultures. It will adapt to local situations whenever possible, however, without prejudice to the Heineken values and principles or local laws and regulations. (Heineken NV annual report 2008)

II. 3. Demand Heineken has a strong position in the beer market thanks to its strong history. It makes Heineken the number two beer brewer in the world. The company accounts for nearly 5% of the world’s production. With a major global presence, Heineken’s main market is Europe, accounting for 47% of its sales. According to the Plato Logic November 2008 Research report, beer consumption worldwide has grown less than three percent that year. The researcher stated that the world's five biggest beer markets were China, United States, Russia, Brazil and Germany.[8] In the last several years imported and speciality beers were gaining market share at the expense of standard and traditional products. For example, in 2003 in the UK, the Heineken Cold Filtered was replaced by a 5% abv genuinely imported version.

|Year |Consolidated beer volume (mln.hectolitres) |Heineken volume in premium segment |
|2007 |105.4 |24.7 |
|2008 |125.8 |25.9 |

(Heineken N.V. annual report 2008)

USA
|Consolidated beer volume |7.9 million hectolitres |
|Market position* |2 |

*In imported segment.
(Heineken N.V. annual report 2008)

Heineken has been exporting to China for more than 75 years. One of the problems they had later on was that the company was not able to cope with some demands in the Chinese market. Consumers in China like to see new products and packaging. Up to the year 2005 Heineken had only 4 SKU’s, with no package change. This is also related to the popularity of the Heineken brand in the United States. In the Heineken’s annual report of 2007 it is stated that the market share in the USA was 39 percent of the imported beer segment. With this Heineken was the second most popular import beer in the USA. It was the most popular beer in the U.S. from the introduction in 1933 until 1998, but since then, Corona is the most imported beer in the USA.(Favorite beers, ..). In the Netherlands Heineken is still the number 1 with a market share of 48.7 percent (Annual report Heineken, 2007). [9] In 1965 Heineken entered the Greek market through a joint venture with Athenian Brewery to produce the Amstel brand. By 2002, it had 98.8% ownership of the Athenian Brewery and a 70% market share of the Greek market, dominating it. Heineken used this strong position to import other brands as well, including Heineken (Stone, 2003). Heineken found its way to France through the acquisition of Albra, 8% market share, in 1982. In 1984 Albra was merged with Brasseries et Glacieres International resulting in the Sogebra group, which had a 25% market share in 1993. Heineken NV slid the most since November 2008 in Dutch trading after reporting declining sales on lower beer demand, especially for premium, imported brands in the U.S. First-quarter earnings before interest and tax fell by a “high teens” percentage, the Amsterdam-based company said today. The quantity of beer sold in the period fell by 6.3 percent excluding acquisitions, more than twice as steep as the 2.5 percent median drop, and outpacing the 3.5% decline for the previous fiscal year. [6] “Chief Financial Officer Rene Hooft Graafland said Heineken forced through higher prices to help profitability. Amid the worst U.S. downturn since the 1930s, the CFO said Americans turned to cheaper brands, drinking less imported Heineken beer, and wholesalers stocked less Heineken Premium Light. “Heineken is so exposed to Europe and the U.S., and that’s hurting,” said Jan Meijer, an analyst at Theodoor Gilissen Bankiers NV in Amsterdam, who has a “sell” rating on the shares. “Heineken is a premium beer company, and at this moment in time, that comes at the expense of lower volumes.” Heineken’s shares fell 1.53 euros, or 6.9 percent, to 20.46 euros. The stock is down about 6.6 percent this year. Volumes in the Americas region, Heineken’s largest market, dropped 16 percent, excluding acquisitions. The drop was mostly due to falling U.S. imports of the Heineken and Amstel brands.” ( April 22nd 2009, Bloomberg)

II.4. Competitive forces The competitive barriers vary from market to market. Heineken succeeds in the marketplace by offering competitively priced, quality products. As a company, it supports full and fair competition by complying with antitrust laws prohibiting activities that reduce competition.
Heineken believes in the principle of fair competition. It will keep in place policies and programmes aimed at giving guidance to employees to ensure that they understand competition laws and act in compliance with them.[3] Heineken mostly competes with the world’s largest beer companies through its strategic alliances, joint ventures and acquisitions of breweries from local markets. On August 21 2008 the Swiss Competition Commission(COMCO) approved Heineken's proposed acquisition of Eichhof Holding's drinks business. The commission held that there were no indications that the concentration might create or strengthen a dominant position for the Heineken/Eichhof group. It further held that the merger would not lead to the market being collectively dominated by Heineken/Eichhof and the biggest Swiss brewery, Carlsberg/Feldschlösschen. The investigation revealed that there would still be sufficient competition in the local and regional beer markets after the takeover. It also found no significant barriers to market entry for new competitors The acquisition of Eichhof gave Heineken an estimated 23% share of the Swiss beer market, consolidating the group’s number two position in Switzerland. On October 4th 2008 the Irish Competition Authority gave Dutch giant Heineken NV the go-ahead to take over Cork city-based Beamish Crawford, following an inquiry that lasted 6 months. The takeover was part of a 10.5 billion euro joint bid by Heineken, which also owns a brewery in Cork city, and rival Carlsberg for Beamish Crawford's parent, British brewer Scottish Newcastle. (www.irishtimes.com) “All Heineken employees must deal fairly with the company's customers, suppliers and competitors. Employees are expected to act with integrity by maintaining Heineken’s independent judgment in the pricing, marketing, purchasing and selling of all products.” [3]

II.5.Techn. Forces Technology is revolutionizing the marketing environment, transforming the way companies promote and distribute goods. Reliability was Heineken’s most important priority when the company redesigned its network infrastructure and replaced existing hardware with Foundry Networks equipment. Heineken’s previous infrastructure consisted of a shared Layer 2 Ethernet network. Its architecture and 10 Mb Ethernet hardware did not provide sufficient fault isolation. A problem at one location could propagate itself across the network and potentially take it down completely -- an unacceptable risk at the breweries. [10] “Beer Living Lab” -- a pilot project that will track beer by satellite. Each container must be outfitted with GSM, GPRS and global positioning systems. Satellite uplinks will be provided due to particular technical problems with RFID, which can only be read when the tag is close to a RFID reader. Heineken accumulates up to five billion documents every year. They are generated when the company’s products pass through international shipping. Satellite tracking would help speed up deliveries and cut costs. The company hopes that this pilot program will convince manufacturers, shippers and retailers to move to a paperless trade environment. (www.technovelgy.com) A major future trend, especially for a global brand, are the digital communication channels, especially the internet and web technology. For Heineken the internet has different possibilities than, for instance, for a supplier of more durable goods. However, hosting a number of websites related to the company, beer consumption in general and promotion campaign, Heineken tries to utilize this medium as much as possible. Another use of the web technology is within the entire supply chain. Unlike the Internet, this is a very interesting development for Heineken. While distributing almost 120 trillion hectoliters of beer, Heineken can gain very much from optimizing their supply chain using digital solutions. An example this is the Starchain project.

II.6. Social-cultural forces Heineken does not adopt their beer even a little bit, they say the following about that: “We don’t believe in adapting to local taste differences. All our breweries stick to our original recipe because we believe the taste is superior. The product must be the same everywhere. But because the cultural universal product is beer and not Heineken beer, Heineken needs to adapt to the specific culture of a specific region. As already mentioned Heineken does not change its product but it does believe they cannot communicate to all cultures in the same way.[7] Heineken sees itself as an integral part of the local and global communities in which it operates. This does not only mean that the company respects the laws and regulations of the countries where it is active, but that it respects international laws and norms. First, Heineken acknowledges the fundamental human rights on which the Universal Declaration of Human Rights is based. This is reflected, among other things, in the respect the company has for the differences in people, cultures and beliefs. Heineken is aware of the responsibility towards company’s operating environment -- spearheads of its accountability management include its highly evolved alcohol and environmental policies.[9] The psychological aspect is very important with alcoholic beverages. A product should enable a positive lifestyle and alcoholic beverages can have either a good or a bad effect on a person’s lifestyle. For more than two thousand years alcoholic beverages have been associated with social events but also with social disturbance. A famous quote of Thomas Fuller says “Wine hath drowned more men than the sea”. Heineken is aware of this and stated the following in their annual report of 2004: “As a brewing company we are acutely aware of the risk posed by alcohol, particularly when consumed irresponsibly. The basis of our Alcohol Policy is our conviction that our beers, when consumed responsibly, fit in with a positive lifestyle. We do, however, recognize that some people consume our products at the wrong time, for the wrong reasons or in the wrong quantities. We are committed to raising consumer awareness about responsible consumption and what exactly this means.”(Heineken N.V., 2005) In accordance with Heineken's product safety policy, appropriate measures are taken in the company’s brewing process to prevent product contamination. Its breweries are required to implement the principles of the HACCP (Hazard Analysis and Critical Control Points) system. Its raw materials policy requires suppliers to operate a system based on these principles and compliance is verified by supplier audits.[3] Heineken works with farmers to minimize their pesticide inputs and we pursue a biotechnology policy that prohibits the use of genetically modified raw materials. Adherence with this policy is regularly monitored. Consumables must present no product safety hazard either, and Heineken conducts audits of suppliers to identify and minimise risks. The water used by its breweries must comply with all EU or WHO drinking-water standards. To ensure that Heineken’s beer reaches the consumer in perfect condition, the company operates a freshness policy, which relates mainly to its distribution channels. All products are coded so that they can be traced throughout the supply chain, allowing to identify the source of any problems that arise. The effectiveness with which these policy measures are implemented at local level is monitored centrally. Beer samples are analysed and organoleptic tests carried out in the laboratory. The 'best before' dates on samples of products on sale are also checked to ensure that the product delivered to the consumer is safe and fresh. Consumer complaints are recorded and dealt with in accordance with our complaints procedure. A recall is ordered if, despite all company’s efforts, a defective product finds its way to the market. To encourage Heineken’s breweries to make extra effort in order to give the consumer an excellent product, they take part in an internal Quality Awards programme. This is judged by an independent external body that assesses the quality of the Heineken’s beer and packaging on the market. [3] Human rights “Heineken endorses the principles underlying the Universal Declaration of Human Rights: respect for the dignity of all people, irrespective of race, religion, sexual orientation or political conviction. Heineken insists that it will not cooperate, actively or passively, directly or indirectly, in any violation of human rights and it supports its employees if third parties violate their rights. The company is happy to publish its human rights policy in every country in which it operates, and the company tries to make sure all its employees are aware of their rights, not matter where in the world they work.”[3]

III. SWOT Analysis
|Strenghts |Weaknesses |
|wide geographically spread operations |relatively weak position in the U.S. light beer market |
|strong worldwide known brand name |slow strategy of entering new markets |
|world’s 2nd largest beer manufacturer | |
|strong financial capability | |
|financial flexibility offered by credit facilities | |
|attractive packaging | |
|large number of brands | |
|not dependent on a limited number of markets | |
|Opportunities |Threats |
|possibility of entering new markets |future challenges related to the economic slowdown |
|future acquisition of smaller brands and local companies. |sociocultural factors (change of consumers’ preferences) |
|Future promotion of the brand by sponsorship of global events |strong competitors |

IV. Marketing objectives

“Our aim is to be a leading brewer in each of the markets in which we operate and to have the world’s most prominent brand portfolio.”(Heineken annual report 2008). One of the Heineken’s goals is to improve its position in the light beer segment in the US and if this succeeds the profit of Heineken within the US can double in the coming years.

Fig. Largest beer sellers and top 10 light beers in U.S.

Some other Heineken’s goals, during 2009 and beyond, are : - To reduce debt through initiatives that strengthen cash generation and cash conservation. These include programs to reduce capital expenditure, networking capital and the sale of non-core assets. The Company has instigated a program to increase the cash conversion rate in excess of 100 per cent in the period 2009 – 2011. - Top line growth and increased efficiency - Consumer-focused innovations drive volume - Fit2Fight initiative drives cost savings - Increasing operational agility - Organic growth supplemented by growth via acquisition - Improving performance of newly acquired companies. - Reducing costs through Total Cost Management. - Maintaining the price positioning of key brands. - Increasing the efficiency and effectiveness of all marketing investments.(Heineken annual report 2008) It is Heineken’s aim that all stakeholders better understand the economic dynamics of the way in which they conduct the business. Better insight into local economic impact enables stakeholders, including local management, to take informed decisions that are in the best interest of both the company and the local economy. Heineken seeks to balance the management and growth of their local, regional and global brands, with the management and growth of Heineken.

V. Strategies The difference between Heineken and many other large companies is that it produces locally for the local markets in many countries. Heineken has a very slow market entry strategy. They usually start by exporting the Heineken brand. Later they take over local breweries to increased market share and finally they will start with local production of the Heineken brand.[9] Heineken usually begins with exporting using intermediaries such as local distributors, and then develops licensing production agreements through joint ventures with local brewers. Ultimately, the goal is to acquire full ownership and control of the local production wherever possible (Stone, 2003). We can see from the description that Heineken goes strictly by the book. It starts with the least control and least investments using the export strategy. Then it continues with licensing, joint ventures and finally the full ownership of production and acquisition of local brands. Off course the entry in every market is partially different. Heineken tries to differentiate its brands through market segmentation, targeting international and national markets with the group brands, Heineken, Amstel and Buckler. They focus a big part of their marketing on young adults and try to cover the tastes of smaller regional segments with local brands. Typically, Heineken promotes four types of brand; premium, standard, specialty and local, which are positioned to target different market segments:[9] • Premium Heineken for the prestige market. • Standard quality beer at a reasonable price, ex: the Amstel brand; • Speciality, distinctive and superior beers at a moderate to high price, ex: Murphy’s Irish Red and Irish Stout; • Local brands for the high volume mass market segment (Dreher, Birra Messina and Birra Moretti in Italy, “33” Export in France, Zagorka in Bulgaria, Zywiec in Poland; even the Tiger brand in Cambodia, China, Malaysia and Singapore, and Vietnam). In this way Heineken has successfully promoted its core brand names globally, while using the benefits of local brands with differing attributes to suit national and regional markets. Its international brands are distributed in each territory alongside locally produced and sold beers (Stone, 2003). Being a global brand results in global thinking. Heineken has to deal with the fact that it cannot apply the same strategy everywhere. To cope with this problem companies often manage their global marketing strategy on a geographical basis. Heineken, however, chooses to cluster together countries that require a similar marketing strategy (Quelch, 1999). Heineken applies the following global brand strategy: “Our brand strategy is to build a strong portfolio that combines the power of local and international brands and which has Heineken at its centre.” (Heineken N.V., 2005).

V. B. Marketing Mix By analyzing the Heineken’s marketing mix, it is obvious that they have a limited amount of products. Their main product is beer. The Heineken brand consists of four kinds of beer; Heineken Pilsener, Heineken Premium light, Heineken Tarwebok and Heineken oud bruin. Heineken Pilsner is their main product. It is the Heineken’s regular beer, which, Heineken says, is the same as the original beer Heineken started with. Its mildly bitter taste, fresh, fruity aroma, bright color and exceptional clarity are obtained using only the purest water, hops and barley malt. (Heineken fact sheet, 2008)
Gravity: Original extracts 11-12% by weight
Alcohol: 5% vol.
Bitterness: 23 EBU, Color: 7 EBC The styling and packaging is an important part of the Heineken’s marketing. They emphasize this by saying the following in their annual report of 2007: “Packaging is a key element in Heineken’s marketing and innovation strategy. New pack types create new consumption moments, build excitement around our brands, improved margins and higher volumes”. Here are some examples of the innovations of Heineken when it comes to packaging. Beer is typically served in two main types of packaging, bottles and cans.

Examples of the some bottles and cans for Heineken Pilsener:

[pic] [pic] [pic] [pic] [pic] [pic]

The last two kinds of beer stated above (Heineken Tarwebok and Heineken oud bruin) are specialty beers only for the USA and the Netherlands. The company, of course, has a large variety of other brands to compensate. Heineken’s main asset is their brand image. They have a very unique brand strategy within the beer market because it is based around two global brands, mostly Heineken, but also Amstel. Heineken is also known for being an innovative company. Innovations contribute to the top-line growth and to the strength of the Heineken brand in particular. In 2008, DraughtKeg, the unique 5-litre ‘go-anywhere’ draught system, and BeerTender, the ‘genuine home draught beer experience’, accounted for part of the volume growth of the Heineken brand. DraughtKeg is now sold in over 100 markets worldwide. In France the portfolio was extended with the introduction of Pelforth. In 2008, Heineken also introduced BeerTender in the USA and Spain.[9] The price difference on the international scale in the year 1998 was almost the same as it was in the year 2004/2005. Thus during these 6 to 7 years the price difference did not change very much. As seen from the figure above -- with the big difference between the price of a six pack in the Netherlands and in the USA it is obvious that Heineken uses a differentiation in international pricing. In 2009 a six-pack in the Netherlands costs around €4 - 4.5, while in U.S. it costs between 9 and 10 dollars. The distribution is a very important part of the Heineken’s marketing. The company distributes around 120 Million Hectoliters a year. Heineken has a number of logistics projects to optimize their distribution. The Starchain project won the Dutch logistics price in 2006. Every year Heineken exports 7.5 million hectoliters to the United States, controlling 39% of the imported beer market. In the past few years Heineken has been trying to optimize the export to America, partly caused by the increased demand for Heineken Premium Light.[9] Starchain project’s goal is shortening the supply time. Heineken used to work with 450 wholesalers in the USA and produced on customer order. Now all they send to the Netherlands is a forecast which will determine the supply. Heineken opened its own warehouses in nine important harbors in the United States to enable this new demand chain management. (Jorritsma, 2007). Due to the Starchain project, the stock at the wholesalers and the stock in the Netherlands decreased. It takes now only 2 days to deliver instead of sometimes 60 days, which is even faster than some of the Heineken’s American competitors do. In 2006 the Starchain project received the Dutch logistics award. (Stad, 2006) Heineken spends big money on promotion. They advertise major sports events like the Olympic games, Ruby World Cup and the UEFA Champions league. The UEFA Champions League is Heineken’s main sponsorship platform. In 2008 it announced the renewal of the contract for a further three years period -- to the end of the 2011/12 season. The Heineken brand has been associated with this prestigious club tournament since 2005, having over 140 million TV viewers watching live coverage of the UEFA Champions League in almost every country in the world. Heineken has also become known for its creative use of film to enhance the profile of the Heineken brand among its target consumers. In 2008, a worldwide promotional campaign for the 22nd James Bond film, ‘Quantum of Solace’, was launched in 40 countries. The film, which was released worldwide in November 2008, is Heineken’s fifth consecutive global partnership with one of the most successful and longest-running movie franchises. The campaign included TV and print advertising, on- and off-premise promotions and interactive and digital activities. After the 2004 Athens summer Olympic games a survey was done to find out which brands that sponsored the Olympic games had the most public awareness. Heineken was the fourth most known brand with a public recognition of 91% (Kronick,S and Dorne D., 2005). These are all global events, but Heineken also pays attention to local advertising. Their promotion policy is based on the principle of thinking global but acting local. Beer is a global product, and the Heineken’s recipe is the same everywhere. It also refers for the packaging, labels and bottles. Heineken breaks down cultural barriers as they expand to new countries. It does recognize, however, that beer is not considered the same everywhere, they therefore allow local representatives a lot of freedom within the sales- and advertisement-department.

VI. Implementation – Marketing structure Heineken organizes the company into five territories which are then divided into regional operations. The regions are: Western Europe, Central and Eastern Europe, The Americas, Africa and the Middle East, and Asia Pacific. These territories contain brewing plants in more than 70 countries, brewing local brands in addition to the Heineken brand. The company concentrates its marketing on geographical extension and its advertizing campaign. (www.absoluteastronomy.com) Because of the notion of Consistency, Heineken is not prepared to change anything about the taste of its beer, so attention is mainly directed to new packaging and applications. Heineken Group follows the principles of the Dutch Corporate Governance Code of 9 December 2003. The structure of the Heineken Group - and specifically the relationship between Heineken Holding N.V. and Heineken N.V. makes that the application of the Code is different for both entities. [3]

Bibliography:

1) Heineken N.V.(2009) Annual report 2008

2) Heineken N.V.(2008) Annual report 2007

3) http://www.heinekeninternational.com/

4) Quelch, J (1999) Global Brands: Tacking Stock, Business Strategy Review

5) Stone, MA (2003) Heineken: marketing strategies within European brewing (entry routes, branding, segmentation, targeting and positioning)

6) http://Bloomberg.com/

7) Marketing Profs Knowledge Exchange: The influence of culture in a promotion strategy (cited 2 May 2008) Available from

8) http://www.blogcatalog .com/

9)Patrick Renders, Tobias Temmink “Heineken” (a report about the marketing activities of Heineken)

10)http://www.foundrynet.com/