ipl-logo

Should The Market For Benziger Wine And Their Expansion Into The UK?

654 Words3 Pages

In this report, I will be looking at Benziger Wine and their expansion into the UK, focusing on three areas: the target market segments for Benziger wine, a selection of the market entry options Benziger should consider; and a new marketing mix strategy that Benziger may wish to use for the new UK market.

Comparison of USA and UK target market segments

Benziger is an American wine company selling quality wines with organic and sustainable products and processes as their USP (Stebe and Dowding, 2011). The majority of the products Benziger produce are premium products with a premium price, with the average price of the wines being $76.58, and the most expensive wine costing $225.

Thach and Olsen (2015) have concluded that consumers who buy premium wines in the US have specific traits. Whilst this is only one report it can be used to estimate Benziger’s US target segment. Consumers are usually male with an average age of 38 years. There seems to be little evidence that higher education levels impact on consumer spending in this area, however due to the premium nature of the product it is likely that the consumer will be in a professional occupation with an above average income. These consumers are the most involved in the purchase process and have the most knowledge about wine. They are most likely to purchase through a variety of channels, particularly through wine and liquor shops, winery tasting venues and online. …show more content…

Consequently, their target market includes customers who value this (Stebe and Dowding, 2011) and are therefore happy to pay a premium for such products (Forbes et al,

Show More
Related

Nt1330 Unit 4

662 Words | 3 Pages

I learnt about the various channels available in the distribution landscape and how the shelf space offered by an established retailer has become an important commodity to compete for (Arnese et al., 2014). It is for this reason, our proposal to the distilleries was to initially target the HoReCa i.e. 120K bars, pubs, restaurants & hotels in the UK which are responsible for more than 35% on-trade consumption in the UK (IAS, 2017). However, the illustration of this piece of information could have been improved in the group

Read More

Product Placement In Carl Reiner's 1979 Film The Jerk

1409 Words | 6 Pages

In 2015 alone, Franzia sold over $325 million in boxed wine. The iconic artwork of wine splashing into a glass on the box is immediately recognizable. Franzia is targeted to budget wine drinkers and alcoholic beverage consumers ages 21 and up. According to VICE, Millennials drank more wine than any other generation in 2015, accounting for 42% of all wine consumed in the United States that year (Swerdloff, 2016). Furthermore, women make up nearly 57% of the American wine market (“Wine Market Council”, 2016).

Read More

Case Analysis: Folsom, La

1271 Words | 6 Pages

Though their wines aren’t at luxury prices or high quality they can still make use of the many forms at protecting their product. Wine counterfeiting is quite prevalent and producers can use elemental testing, proof tags, NetNames , holograms, watermarks, evidential tampering seals Elemental testing can be used for certain elements that are present in that region the wine was made and year. For instance a wine made in post 1960 is going to have high amounts of cesium due to the major use of nuclear testing, were as in before that there shouldn’t be any traces in a bottle previous to 1945 because the nuclear bomb was not created yet. Proof tag is “generated by a random pattern of bubbles on a tag to be later affixed on a bottle” (Downey). With this a data base would be created to keep track of every unique pattern, and each bottle is given a fingerprint which would be effective on all scales.

Read More

Chevy Research Paper

906 Words | 4 Pages

In discussing the target market for this product, there are various

Read More

Case Study Of Target's Stakeholders

1172 Words | 5 Pages

Purchasers need to know whether they purchase safety and subjective merchandise or serve. Target Corporation definitely ought to ensure what they produce and sell. Promoting and marketing likewise have a place here because numerous associations usually guarantee a lot on advertisements yet in all actuality, products are not as they were portrayed. This focuses are composed in enactment of legislation and Target must tail them.

Read More

Business Analysis: New Belgium

575 Words | 3 Pages

Moreover, while focusing on the need of the audience, a business must also deliver a superior product than the competition (Ferrell & Hartline,

Read More

Marketing Mix Of Harvey Norman And JB HI-FI

1158 Words | 5 Pages

2. Needs and wants of the demographic group:  Upgraded technology that can offer a unique experience  Compact and easily portable  Two in one product 3. How the needs and wants of targeted group are reflected in the marketing mix: The marketing mix reflects the demographic group through the product’s discounted price, promotional bonus gift voucher, advertised as a student’s study tool, distributed by delivery and by personal means and by the products unique features that are wanted and needed by the targeted group.

Read More

Selfridges Essay

513 Words | 3 Pages

Regarding the notion of ‘threat of substitutes’ is also considered among the stronger forces affecting business of Selfridges; in lieu of the numerous available alternatives to the respective product, being available easily, and at a cheaper price. Moreover, introduction of products such as non-branded apparel is also influential to the overall development of threats to the company; which has created much of the consumer behaviour to be inclined to their respective products and businesses( Clark & Gilpin, 2005). Furthermore, the introduction of various ‘innovative’ shoes and related products has also developed numerous competitions for Selfridges. This tends to pose a major threat on the sale and distribution of conventional beer and related products in the respective market. Moreover, the notion of the various competitors of the product, especially those with established markets, also creates the notion of major threat for the business of Selfridges (Clark & Gilpin, 2005; Euromonitor, 2012).

Read More

Wine Industry Analysis Paper

1012 Words | 5 Pages

When establishing a new wine company, the first consideration is the market target. Wine producers must decide what segments they want to reach. In our case it's the young sector. Our segment marking is young people between 20 and 30, considering therefore our strategy as a single-segment

Read More

Different Types Of Baby Boomers

635 Words | 3 Pages

Target Customer In Australia, there are a number of people consumes cheese every day, as the Barossa cheese company , they may focus on two types of target customers , first type is the baby boomers that are rich ,the second type is the younger people who have much disposable income and consumer high quality food The group of middle class baby boomers is the most important target market for the Barossa Cheese Company. These types of people have much experience in having the hand-made cheese when they were children, because people haven’t used machine to make the cheese at that time. There is no doubt that baby boomers tend to have different food consumption habits to younger people, often selecting more traditional foods (Dean et al., 2009; McKie, 1999).

Read More

Value Proposition Of Fitbit

1808 Words | 8 Pages

This is the comparison of the benefits offered by a company's product to its customers relative to the price it asks customers to pay. To do this, companies can influence the value proposition in one of two ways mainly. This can be done through long term brand building. They can also offer a relatively low cost to enhance value. Ultimately, the key is that customers perceive that the product's merits exceedingly justify its price.

Read More

Case Study Frog's Leap Winery

1313 Words | 6 Pages

The premium wine industry in the Napa Valley area is an area saturated with wineries and vineyards of various sizes. With a growing number of green consumers causing the development of the LOHAS (Lifestyles of Health and Sustainability) demographic segment, many wineries are looking for ways to gain a competitive edge by differentiating their brands and reducing costs. Frog’s Leap Winery has been able to stand out with its tasty wine and “sophisticated environmental management system (EMS)” (C392).

Read More

Apple's Target Market Analysis

1625 Words | 7 Pages

Their target market is mainly divided into three categories. The first group is of the people who have a high brand loyalty to Apple and are the primary consumers of its product. These people would not only own the Iphone but also other products offered by Apple like the IPod, iTouch and iPad. This group is well aware of the features and benefits of the product and is therefore prepared to pay a greater price for these features. The primary target group of the Apple iPhone belongs to the upper middle or higher social class who can afford to pay for the premium products offered by

Read More

Distell Swot Analysis

2958 Words | 12 Pages

.za) SWOT Analysis Strength: • Brand reputation and loyalty • World wide distribution • South African largest producer of wine, spirit, ciders and RTDS • Ranked second in the world for cider production • Broad brands and product variety • Improved production technology, innovation in products, packaging and marketing Weakness • Cost of packaging • High costs of raw materials • Intense competition means market growth is limited • Cheaper brands emerging • Failure to deliver superior product and service at competitive price points • Unavailability of grapes and apples to meet demand for wine and cider brands across the quality and cultivar spectrum Opportunities • Product extension • Expansion into other Africa countries • Growing demand for gluten free ciders • Joint venture capital • Increase popularity of premium brans • Sustainable movement • Growth in emerging markets

Read More

Macro Environmental Analysis Of Nike

2130 Words | 9 Pages

Their target customers are young people in all kinds of education levels, religions, race and nationality. The occupation of their target customers could be very wide but mainly are sports player and athletics. It is because athletics are more rapidly to use sports products than other people. Their target customers are from different generations: Generation X, Generation Y. Psychographic Their target customers are people who care more about the utility and quality of the product than the price.

Read More

More about Should The Market For Benziger Wine And Their Expansion Into The UK?

Related Topics

Open Document