Final Review Flashcards
What are 4 possible transportation costs that contribute to the cost of a bottle?
Freight forwarder
Main mode of transportation
Premium on bottle vs bulk
Insurance
6 costs that are incurred on the retail end of the supply chain (sales costs that contribute to the cost of a bottle)
Property Labour Equipment and materials Storage costs Delivery costs Margin at POS
Importation Costs (3) that contribute to the cost of a bottle?
Customs/duties/taxes
Labelling requirements
Distributor margin
What are examples of conglomerates?
E&J Gallo
AXA insurance
Moet Hennessy-Louis Vuitton
5 options for getting wine to POS
What is a joint venture? Example?
When two supply chain businesses of a similar size form a separate entity and have joint control over it.
Mentzendorff (uk distributors) is partly owned by Bollinger and Fladgate
Vinalba owned by Buckingham Schenk (uk dist) and Winemakers herve and diane joyaux fabre
Examples of specialist wine retailers?
Chain - OBrien’s In ireland
Hedonism wines
Berry bros and rudd
Caves de pyrene
6 Talking points with wine investment?
- Type of company involved, examples
- Reasons for investment
- Type of wines in secondary market
- Where wines are initially purchased
- where they are resold
- risks
3 considerations when identifying the product/brand to be marketed?
- Product lifecycle
- Branding & Brand image
- Aspects/types of brands
What are 5 aspects/types of brands?
Brand position Private label Ladder brand Soft brand Luxury brand
3 tiers of ladder brand?
Accessible
Stretch
Aspirational
What is Brand position and what arr common categories?
Where a brand sits within a market, often linked to retail price. Brands may straddle multiple
Value
Standard
Premium
Super premium
Two main methods of identifying the target market?
Segmentation
Market research
What is segmentation?
Division of the market into distinct subgroups/segments each characterized by tastes, requiring a specific strategy
What are 3 methods of segmentation?
4 variables
Hall’s wine lovers, wine interested, wine curious
Wine intelligence portraits
What is market research?
The gathering and analysis of data about a particular segment to understand what they want and need
What is the purpose of setting the marketing objective?
To help people in the company understand their roles in the marketing process and to help the company analyze whether the strategy is working.
What is the marketing mix?
The elements of the strategy, a combination of factors that must work together for the strategy to work.
What is product when devising the marketing strategy?
What are the 5 stages of creating and inplementing the marketing strategy?
- Identify the product/brand
- Identify the target market
- Set objectives of the marketing strategy
4. Devise the marketing strategy/mix -  implement and monitor

What is the price element of the marketing mix?
The retail price, including delivery and discounts, and cost in time and effort the consumer is willing to go to to purchase
Considerations of the price aspect of the marketing mix
Pricing strategy, ie. penetration
Price is influenced by supply/demand, and costs
Psychological implications of price - premium feeling and using decimals etc.
Six considerations for the place aspect of the marketing mix
- Where the target market shops
- What distribution channels are most effective
- Regional consumer tastes
- Regional legislation, taxation, duty and distribution policies
- Regional price sensitivty
- Maturity of market
What are the five market maturities and examples, what is it relating to?
Mature - wine has reached its potential with stable or declining volumes, UK, germany france switzerland
Established, strong historical growth that is tailing off, irrland, south africa, italy, hong kong
Growth - wine is mainstream and or experiencing growth, usa, canada, brazil, poland
Emerging - experiencing growth and showing pitential, china russia turkey taiwan
New emerging - wine is still fairly new and unknown but showing potential, india malaysia phillipines, thailand
