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WSET Diploma D2 Wine Buisness > 11. Devising The Marketing Strategy > Flashcards

11. Devising The Marketing Strategy Flashcards

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1
Q

What are the 5 P’s

A 
Product
Price
People 
Place
Promotion
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2
Q

What is the definition of product?

A

An object, service or system that is being marketed, wine is an object. It includes the liquid itself, all packaging and branding.

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3
Q

What is the price?

A

The amount which a consumer pays for a product, it is not just the price of the object it includes any additional costs such as delivery and discounts

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4
Q

What is the people element?

A

It is often interpreted in different ways -

  • to some it will mean the attitudes and behaviours of the target consumer
  • refers to the relationship between the company, its staff, its partners and its customers,
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5
Q

What does place refer to?

A

Where the product is actually sold

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6
Q

How can markets be categorised by their maturity?

A 
Mature market
Established market
Growth market
Emerging market
New emerging market
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7
Q

What is a mature market?

A

Where wine appears to have reached its potential with stable or declining volumes.

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8
Q

What are some examples of a mature market?

A

Germany, France, Switzerland, UK

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9
Q

What is a established market?

A

With a strong historical growth which is tailing off.

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10
Q

What are some examples of an established markets.

A

Ireland
South Africa
Italy
Hong Kong

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11
Q

What is a growth market?

A

Where wine is a mainstream product and/or experiencing growth

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12
Q

What are some examples of a growth market?

A

USA
Canada
Brazil
Poland

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13
Q

What is a emerging market?

A

Where wine is experiencing growth and shows potential from a relatively low base.

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14
Q

What are some examples of an emerging market?

A

China
Russia
Turkey
Taiwan

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15
Q

What is a new emerging market?

A

Where wine is still a relatively new and unknown beverage, but showing some potential.

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16
Q

What are some examples of a new emerging market?

A

India
Malaysia
Philippines
Thailand

17
Q

What two categories can promotional activities be put in to?

A

At the point of sale

Away from the point of sale

18
Q

What are some options for point of sale promotions?

A 
Price promotions
Free merchandise 
Limited edition packaging/presentation 
Competitions 
Consumer tastings 
Staff training and incentives
19
Q

What are some examples of price promotions?

A

Specific amount, percentage discount
Seasonal sales
Discount on certain days
Discount for certain groups of people

Multi buy or volume discounts

20
Q

What are some options for away from point of sale promotions?

A 
Advertising 
Sponsorships
Websites
Social media 
Smartphone app
Wine tourism
Events and festivals 
Reviews and awards 
Public relations
21
Q

What are some options for advertising?

A 
Television or cinema
Radio
Press advertising 
Online 
Billboards
22
Q

What some PR activities?

A

Representatives of the company attending public events or appearing on tv/news/radio
Press releases
Newsletter
Social media

WSET Diploma D2 Wine Buisness (11 decks)

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