D2 Flashcards
Supply chain
The network of organisations and activities from the creating of its product through to its distribution and sale to the final consumer.
Liebfraumilch
German medium sweet wine that has gone out of fashion due to changing consumer preference
PSM
Price Sensitive Markets, eg UK and Germany. Consumers unwilling to pay more than least possible amount
Premiumisation
Increased willingness to spend more on individual bottles when buying less by volume. Seen in UK and USA
Loi Evin
Introduced in France in 1991 restricting advertisement of alcohol and seen as significant factor in reduced consumption
Excise duties
Indirect taxes applied to the sale or use of goods eg alcohol and tobacco
Trade tariffs
Another name for customs duties. Simple revenue generation on imported goods but in some instances a form of protectionism aimed at increasing domestic sales
Embargo
A country entirely bans imports and exports to a particular country
Lavish Gifting
Businesses showing respect to colleagues, suppliers or associates with gifts paid for by government money and more expensive the better. In 2012 Xi Jinping launched anti extravagance campaign to prohibit this.
Wine lake
The term for the huge abundance of wine supply over demand in Europe during the 1980’s
Real Estate tax
An annual tax payable on property in USA
Containerisation
Process of loading goods into a standard container, lifted onto the back of a truck and then onto a rail wagon
Courtiers
The term for brokers in Bordeaux. Carry legal status and act as intermediary between Chateaux and Negociants
Compliance Officers
A job within alcohol beverage companies in the US to deal with different states laws interpretation of the Three Tier System
Chartered Institute of Marketing (CIM) definition of marketing
The management process which is responsible for identifying, anticipating and satisfying consumer requirements profitable.
