Data di Pubblicazione:
2023
Citazione:
Whose bubbles are these? Winery brand versus Territorial brand / C. Mazzocchi, S. Corsi, R. Saracino. ((Intervento presentato al 2. convegno Conference of the EuAWE - European Association of Wine Economists tenutosi a Chania : 28-31 May nel 2023.
Abstract:
In the wine sector the concepts of brand and territory are closely intertwined. In the last decades the dichotomy between brand and terroir has become even more relevant because of the changes in the wine industry and consumption’s habits. A brand is a name, term, sign, symbol, or design, or a combination of them, with the aim to identify the goods and services of one seller or group of sellers differentiating them from those of the competitors (Vlachvei et al., 2012). The brand is an integral part of any wine business and can be used to communicate the quality and the values of a winery. The strongest brands become synonymous with fulfilling a defined set of expectations, are valued for their identity and people have built emotional relationships with them. Although the consumers can recognize the company’s brand, the purchasing choice is driven by different other attributes, included variety, country, vintage, alcohol content, etc. The denomination of origin (DO) can be considered one of the attributes of the wine. In this sense wine brands can demonstrate their commitment to a specific region in order to build a strong connection with their consumers. But at the same time, DO is also a regional or territorial brand, especially in EU traditional producing countries, like France, Italy and Spain, which states the quality of the wine and the collective reputation. The specific product and process standards confer wines belonging to a given DOC/DOCG-specific quality characteristics, substantially differentiate each DOC/DOCG from the others and build the DOC/DOCG collective reputation that gives access to a potential premium price on the final market based on consumer willingness to pay for terroir wines (Hertzberg and Malorgio, 2008). In fact, the link between wine and its origin is one of the most important aspects of wine production (Crescenzi et al., 2022). Every wine has a distinct character and flavor that is derived from the unique terroir of the region in which it is produced, with the physical environment, climate, and soil that can have a great impact on the characteristics of the wines produced. At the opposite many large-scale firms competing on international markets and more oriented to the New World, like US, Australia, Argentina, Chile and South Africa, adopt the concept of quality hinges more directly on consumer preferences and is conveyed through industrial brands.
The alternative ‘brand-based strategy’ for quality differentiation relies on the individual reputation of industrial firms.
The aim of the present work is to analyze the performance of a winery in the Franciacorta DOCG region compared to that of the other wineries belonging to the local DO consortium.
Methodology Time series analysis is a powerful tool used to analyze data over a period of time. It is used to identify trends, patterns, and correlations that may exist between the variables of interest. A time series model approach has been adopted in order to analyze the difference between the economic performances of the biggest Franciacorta DOCG winery (from here: the winery) and the performance of the other Franciacorta DOCG wineries associated to the Consorzio (from here: the Consorzio). An exploratory study on national and international sales data has been done, comparing different products typologies (i.e. Brut, Satèn, Rosé, etc..), different distribution channels and different country’s sales destination (Italy, Germany, USA, etc…) over time (2011-2022). The dataset includes about 700.000 observations from January 2011 to September 2022, representing the daily invoices issued by wine companies for the sales of the different wine products both addressed to Italian market and to export countries. The work employs a log-linear regress
Tipologia IRIS:
14 - Intervento a convegno non pubblicato
Elenco autori:
C. Mazzocchi, S. Corsi, R. Saracino
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