Wine Marketing 3

1) Strategic Marketing Planning
1. Situation Analysis (SWOT Analysis)
2. Develop marketing objectives
3. Determine positioning and differential advantage - what makes you unique
4. Select target markets and measure market demand
5. Design a strategic marketing mix (Ref: using the Marketing Communication Mix in previous post)
6. Product, Placement, Price, Promotion, Position

2) Pricing
Base price VS Expected price
Base price can be considered as cost for producer.
Base price (from producer) ------> Expected price (from customer)
Marketers try to increase the difference between 2 prices,
they try to influence the difference.

3) Pricing factors specific to wine
Supply fixed at each vintage
Price of fine wines: Liv-ex Fine Wine 50 Index http://www.liv-ex.com

4) Management Process
Planning --> Implementation --> Evaluation --> Planning (by feedback)

Planning (Strategic Marketing Planning)

5) Position
There are different positions in wine industry/distribution channel,
Exporters --> importer --> Retailers ---> End customers
---> Restaurants/Hotels
---> Re-exporters (to CN, MO)

Need to be unique, such as,
Organic wines
New Varieties
Innovative packaging
New region or appellations

6) Exercise
SWOT analysis study on ThreeSixty.

Strengths:
Repeat purchase organic wines
Prime location

Weaknesses:
Not specialist in wine
Cannibalization from Wellcome/Jason
Not enough exclusive labels
Size of wine retail space relatively small compared to competitive
Storage problem, not suitable for wine

Opportunities:
Reliable, healthy, trustworthy image
good for mainlanders

Threats:
Legislation - control over alcoholic sales


Further Reading
My note:
http://www.vinexpo.com
http://www.wines-info.com
http://www.wine-searcher.com


Articles under this topic:
Wine marketing 1
Wine marketing 2
Wine marketing: Case study of Japanese market