Diageo plc is the world’s number one player in the premium spirits category. The company’s strategy consists of promoting and expanding its strategic brands, such as Smirnoff, Johnnie Walker, Guiness and others. Because of the company’s famous brands, it can repel competitors and maintain a steady price/volume mix. Because of the premium brands that the company produces, the company is not as defensive as others. But as the global economy improves, the company’s premium offering should be beneficial as customers trade up.